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Consumer Markets and sonsumer buyer behavior

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Consumer Markets and sonsumer buyer behavior

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Social Factors
Cultural Factors

Personal Factors

Psychological Factors

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Cultural Factors

•Buyer’s culture

•Buyer’s subculture

•Buyer’s social class

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Personal Factors

•Age and life-cycle stage

•Occupation

•Economic situation

•Lifestyle

•Personality and self-concept

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•Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households who buy goods and services for personal consumption.

•Consumer market refers to all of the personal consumption of final consumers.

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•Reference groups

•Family

Roles and status

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Dissonance-reducing buying behavior occurs when consumers are highly involved with an expensive, infrequent, or risky purchase, but see little difference among brands.

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Five stages in the buyer decision process

1.Need recognition

2.Information search

3.Evaluation of alternatives

4.Purchase decision

5.Post-purchase behavior

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Habitual buying behavior occurs when consumers have low involvement and there is little significant brand difference.

Variety-seeking buying behavior occurs when consumers have low involvement and there are significant brand differences.

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Occurs when consumers are highly motivated in a purchase and perceive significant differences among brands.

Purchasers are highly motivated when:

Product is expensive

Product is risky

Product is purchased infrequently

Product is highly self-expressive

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Psychological Factors

•Motivation

•Perception

•Learning

•Beliefs and attitudes

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Complex buying behavior

Dissonance-reducing buying behavior

Habitual buying behavior

Variety-seeking buying behavior

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1.Model of Consumer Behavior

2.Characteristics Affecting Consumer Behavior

3.Types of Buying Decision Behavior

4.The Buyer Decision Process

5.The Buyer Decision Process for New Products

6.Consumer Behavior Across International Borders

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The Buyer Decision Process for New Products

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The Buyer Decision Process for New Products

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A new product is a good, service, or idea that is perceived by some potential customers as new.

The adoption process is the mental process  an individual goes through from first learning about an innovation to final regular use.

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Stages in the Adoption Process

1.Awareness

2.Interest

3.Evaluation

4.Trial

5.Adoption

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Consumer Behavior Across International Borders

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Consumer Behavior Across International Borders

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Differences can include:

Values

Attitudes

Behaviors

The question for marketers is whether to adapt or standardize the marketing.