Transcript Document
MT 219 Marketing Unit Three Consumer and Business Buyer Behavior Note: This seminar will be recorded by the instructor. Review of Unit Two • How did it go? Questions or concerns? • Instructor suggestions for Unit 3 • Questions Consumer Behavior The buying behavior of people who purchase products for personal or household use and not for business purposes We study consumer behavior in order to -understand the major influences on what, where, when and how consumers buy -be in a better position to develop marketing strategies Influences on Consumer Behavior • Figure 5.2 in e-text • 4 Factors: -Cultural -Social -Personal -Psychological Culture • Single broadest determinant of consumer behavior • Accumulation of values, knowledge, beliefs, customs, objects, and concepts that characterizes a society Subcultures • Groups of individuals whose values and behavior patterns are similar • Can be based on a number of factors, including - Geography - Demographic characteristics - Common experiences and history Social Classes • Open groups of individuals with similar social rank - Education, Occupation, and Income - Upper - Middle - Working - Lower Social Influences • Reference Groups -Groups that we do or don’t want to be associated with -Opinion leaders are important in this influence grouping -Online social networking is increasingly being used to identify one’s reference group • Family- Strong influences, particularly in early years • Roles and Status- Where one sees or is placed in the group hierarchy Personal Influences • • • • • Age and life cycle stage Occupation Economic situation Lifestyle Personality and self-concept • Think about the changes in consumption that take place as these personal influences change in a person’s life. Psychological Factors- Motivation • • • • • Self actualization Esteem Social Safety Physiological Psychological influences - Perception • Selective Attention • Selective Distortion • Selective Retention Psychological Influences- Learning • Change in behavior resulting from experience and information • Begins with -Drive -Cue- can be turned on by any sense -Response -Reinforcement -Generalization Psychological Influences- Beliefs and Attitudes • Beliefs -Descriptive and objective thought about something -Based on knowledge, opinion or faith -Does not carry emotional baggage that an attitude does • Attitudes -Hard Direction to Change, but do-able - A belief linked to an emotion Consumer Decision Process Need Recognition Internal External Information Search Evaluation of Alternatives Purchase Decision Post Purchase Behavior Cognitive Dissonance Stages in Consumer Adoption Process 1. 2. 3. 4. 5. Awareness Interest Evaluation Trial Adoption Adopter Categories - diffusion • • • • • Innovators Early Adopters Early Majority Late Majority Laggards • One Note: You can fall into different categories depending on the product we are talking about. Organizational Buying Behavior • Different from consumer buying -Purchases are used to produce goods or services -Used to resell or rent to consumers • Fewer buyers, but larger • Process is more complex and involves more people than the consumer buying process • Buying situations -New-task purchases -Straight rebuy -Modified rebuy Any Questions? Thank you for attending! See you next week!