Transcript Chapter 6
Marketing 333 Chapter 6 Consumer Decision Making What is Consumer Behavior? Activities people engage in when selecting, purchasing, and using products so as to satisfy needs and desires. Decision-Making Process Step 1: Need Recognition Step 4: Purchase Decision Step 2: Information Search Step 3: Evaluation of Alternatives Step 5: Post-purchase Evaluation Decision-Making Process Need Recognition Awareness that there is a discrepancy between an actual and a desired condition. My car has died! Decision-Making Process Information Search. Internal and external search for information to make a decision. Decision-Making Process: Information Search Internal Search: Scan memory External Search: Shopping Personal sources Public media Advertisements Decision-Making Process: Information Search Perceived risk: Consumer’s uncertainty about the consequences of future actions. Types of risk: – – – – Performance risk Financial risk Physical risk Social risk Involvement The Importance an individual attaches to a product Decision-Making Process: High Involvement Products Problem Recognition Extensive information search Extensive weighing of alternatives Don’t Buy Problem still faced Buy Postpurchase evaluation Purchase decision Decision-Making Process: Low Involvement Products Problem Recognition Minimal information search Purchase decision Postpurchase consumption; minimal evaluation Implications of Involvement High-involvement purchases require: Extensive and informative promotion to target market Low-involvement purchases require: In-store promotion, eye-catching package design, and good displays. Coupons, cents-off, 2-for-1 offers Decision-Making Process Evaluation of Alternatives. Determine choice criteria to evaluate product alternatives. Performance Safety Lots of storage Variety of colors Decision-Making Process Purchase Decision Choose which brand to buy or not to buy I’ll take that one. Decision-Making Process Post-purchase Evaluation Purchase satisfaction Cognitive dissonance Why did I buy such an expensive car? Situations Surrounding the Decision Process Routinized Problem Solving Limited Problem Solving Extensive Problem Solving What Influences the Buying Decision? Cultural Factors Individual Factors Social Factors Psychological Factors CONSUMER DECISIONMAKING PROCESS BUY / DON’T BUY Culture Culture: Values, beliefs, and customary behaviors learned and shared by members of a society. Subculture Subculture: A culture within a culture Ethnicity Age Religions Social Class Social Class: Group of people with similar levels of prestige, power, and wealth who also share a set of related beliefs, attitudes, and values. Reference Groups Reference group: Group that influences an individual because that individual is a member or aspires to be a member of that group. Reference Groups Types of reference groups: Membership group Voluntary membership group Aspirational group Family Family: A group of two or more persons related by birth, marriage, or adoption and residing together. (traditional) Don’t forget non-traditional families. Individual Influences on Consumer Buying Decisions Age Family Life-Cycle Personality Self Concept Personality Personality: Fundamental disposition of an individual; distinctive patterns of thought, emotion, and behavior that characterize an individual’s response to the situations of his or her life. Self Concept How consumers perceive themselves – – Ideal self image Real self image Psychographics AIOs Lifestyles Perception Processing of interpreting sensations and giving meaning to stimuli – – – Selective exposure Selective distortion Selective retention Maslow’s Hierarchy of Needs Self-Actualization Esteem Social Safety Physiological Learning Learning: Any change in behavior or cognition that results from experience or an interpretation of experience. – – – – Experiential Learning Conceptual Learning Stimulus generalization Stimulus discrimination Attitudes Attitude: learned tendency to respond consistently toward a given object ffective ehavioral ognitive