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Principles of Marketing
Lecture-15
Summaryof
Lecture-14
Consumer Buying Behavior (cont..)
Marketing andOther Stimuli
Marketing andOther Stimuli
Buyer’s Black Box”what” & “how”
Buyer’s Black Box”what” & “how”
Buyer’s ResponseBuyer’s Response
ProductPricePlacePromotion
EconomicTechnologicalPoliticalCultural
Buyer characteristics affecting consumer behavior
Buyer’s decision process
Product choiceBrand choiceDealer choice
Purchase timingPurchase quantity
Characteristics Affecting Consumer
Behavior
1. Cultural
2. Social
3. Personal
4. Psychological
Today’s Topics
Social
Referencegroups
Family
Rolesand
status
Personal
Age andlife-cycle
OccupationEconomicsituationLifestyle
Personalityand
self-concept
Psycho-logical
MotivationPerceptionLearning
Beliefs andattitudes
Buyer
Culture
Sub-culture
Socialclass
Culture
Sub-culture
Socialclass
Cultural
3. Personal
a. Age and life cycle stage
b. Occupation
c. Economic situation
d. Lifestyle
e. Personality and self-concept
a. Age and life cycle stage
b. Occupation
c. Economic situation
d. Lifestyle
e. Personality
4. Psychological
a. Motivation
b. Perception
c. Learning
d. Beliefs and attitudes
a. Motivation
Maslow’s Maslow’s Hierarchy of Hierarchy of
NeedsNeeds
Maslow’s Maslow’s Hierarchy of Hierarchy of
NeedsNeeds
Physiological Physiological
SafetySafety
SocialSocial
EsteemEsteem
Self-Self-ActualizationActualization
Physiological Needs
Safety Needs
Physiological Needs
Social Needs
Safety Needs
Physiological Needs
Safety Needs
Social Needs
Physiological Needs
PersonalNeeds
b. Perception
Perception Process by which people Process by which people
select, organize, and select, organize, and interpret stimuli into a interpret stimuli into a
meaningful and meaningful and coherent picture.coherent picture.
c. Learning
A process that creates A process that creates
changes in behavior, changes in behavior,
immediate or expected, immediate or expected,
through experience through experience
and practice.and practice.
d. Beliefs and attitudes
ValueEnduring belief that a
specific mode of conduct is
personally or socially
preferable to another
mode of conduct.
An organized pattern of An organized pattern of
knowledge that an individual knowledge that an individual
holds as true about his holds as true about his
or her world.or her world.
Belief
Attitude
A learned tendency to respond A learned tendency to respond
consistently consistently
toward a given object.toward a given object.
Types of Buying decision behavior
Complex buying behavior
Dissonance-reducing buying behavior
Habitual buying behavior
Variety seeking buying behavior
ComplexBuying
Behavior
Dissonance-Reducing Buying
Behavior
Variety-SeekingBehavior
HabitualBuying
Behavior
HighInvolvement
Significantdifferences
betweenbrands
Fewdifferences
betweenbrands
LowInvolvement
Buyer Decision Process
ProblemProblemrecognitionrecognition
InformationInformationsearchsearch
Evaluation ofEvaluation ofalternativesalternatives
PurchasePurchasedecisiondecision
PostpurchasePostpurchasebehaviorbehavior
Postpurchase Behavior
Postpurchase Behavior
PurchasePurchase
Evaluation of Alternatives
Evaluation of Alternatives
Information Search Information Search
Need RecognitionNeed Recognition
Cultural, Social, Cultural, Social, Individual and Individual and Psychological Psychological
Factors Factors affect affect
all stepsall steps
Cultural, Social, Cultural, Social, Individual and Individual and Psychological Psychological
Factors Factors affect affect
all stepsall steps
Need Recognition
Result of an imbalance between Result of an imbalance between
actual and actual and
desired states.desired states.
Information Search
Internal Information Search
Recall information in memory
External Information search
Seek information in outside environment
Non-marketing controlled Marketing controlled
Evaluation of Alternatives
Steps Between Evaluation of
Alternatives and a Purchase Decision
EvaluationEvaluationofof
alternativesalternativesPurchaseintention
Unantici-pated
situationalfactors
Attitudeof others
Purchasedecision
PurchasePurchaseDecisionDecision
Determines which Determines which attributes attributes
are most important are most important in influencing a in influencing a
consumer’s choiceconsumer’s choice
To buy To buy or not to or not to
buy...buy...
Five Factors influencing Decisions
1. Level of consumer involvement
2. Length of time to make decision
3. Cost of good or service
4. Degree of information search
5. Number of alternatives considered
Post-purchase Behavior
Buyer Decision Process for New
Products
Awareness
Interest
Evaluation
Trial
Adoption
Enough for today. . .
Summary
Consumer Buying Behavior
Model of Buyer Behavior
Marketing & other stimuliMarketingProductPricePlacePromotionOtherEconomicTechnologicalPoliticalCultural
Buyer’s Black Box
Buyer CharacteristicsBuyer Decision Process
Buyer Responses
Product ChoiceBrand ChoiceDealer Choice
Purchase TimingPurchase Amount
Characteristics Affecting Consumer
Behavior
Social
Referencegroups
Family
Rolesand
status
Personal
Age andlife-cycle
OccupationEconomicsituationLifestyle
Personalityand
self-concept
Psycho-logical
MotivationPerceptionLearning
Beliefs andattitudes
Buyer
Culture
Sub-culture
Socialclass
Culture
Sub-culture
Socialclass
Cultural
Buyer Decision Process
Postpurchase Behavior
Postpurchase Behavior
PurchasePurchase
Evaluation of Alternatives
Evaluation of Alternatives
Information Search Information Search
Need RecognitionNeed Recognition
Cultural, Social, Cultural, Social, Individual and Individual and Psychological Psychological
Factors Factors affect affect
all stepsall steps
Cultural, Social, Cultural, Social, Individual and Individual and Psychological Psychological
Factors Factors affect affect
all stepsall steps
Buyer Decision Process for New
Products
Awareness
Interest
Evaluation
Trial
Adoption
Next….
Business Markets and Buying Behavior
Principles of Marketing
Lecture-15
