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CONSUMER BEHAVIOR Dr. S. Borna MBA 671
Lecture Outline 1. Some basic terms related to the consumer behavior. 2. Why study consumer behavior? 3. A model of consumer behavior.
Lecture Outline Cont. 4. Three building blocks of C. B. Model: a. Exogenous Variables b. Individual Variables c. Consumer Decision Process
Marketer asks the following questions: 1. Who is our market? 2. What does the market buy or want? 3. Why does the market buy certain products?
Questions Cont. 4. Who participates in the buying? 5. When does the market buy? 6. Where does the market buy (outlet questions)?
Consumer Behavior Defined: A. Those acts of individuals (or decision units) directly involved in obtaining and using economic good and services including the decision process that precede and determine these acts.
Two key assumptions and their ramifications 1. Consumer behavior can be understood through research. 2. Consumer behavior can be influenced.
A diagram of the Black-Box approach to infer about intervening variables observable Process stimuli Black Box (inputs) inference Observable Responses (outputs)
Three Main Building Blocks of Our Consumer Behavior Model 1. Exogenous variables affecting consumer behavior. 2. Individual variables affecting consumer variables. 3. Consumer decision process.
Exogenous Variables Culture Sub-culture Social Class Reference Groups Family
Culture Defined “A culture is the configuration of learned behavior and the results of behavior whose component elements are shared and transmitted by the members of a particular society. ”
Cultural Values Value General Feature Relevant to Marketing Achievement Hard work is good Justification for Success follow acquisition of hard work goods Individualism Self-Reliance Freedom Customized Products Freedom of choice Differentiate P.
Cultural Values Value General Feature Youthfulnes A State of mind that stresses being young Progress The acceptance of change Relevant to Marketing Product that provide the illusion of being young Stimulate desire for new products
Values of Society family Media Schools Religious Institutions Individual Internalized Values
Sub-Culture (micro-culture) A sub-culture is a segment of a culture that share distinguishing patterns of behavior.
Sub-Culture Technically, the term “subculture” should be applied only to groups that include both sexes of all ages and have institutions paralleling those of the dominant society.
Social Class äA number of people who have approximately equal positions in a society.
Reference Group Defined äA group that serves as a frame of reference or comparison for an individual making a consumption decision.
Types of Families ä Nuclear Family ä Family of Orientation ä Family of Procreation ä Extended Family
Family Roles 1. 2. 3. 4. 5. gather information influences decision maker purchaser consumer
Family Life Cycles young singles young married full nest I, III post parenthood dissolution joint decisions
Limitations of FLC ä Unmarried Couples. ä Mature individuals who marry late in life. ä Childless Families ä Families broken up by separation
Consumer Decision Process problem identification search for information alternative evaluation decision (purchase) retail outlet decisions post-purchase evaluation
Problem Recognition äA significant difference between ideal state of affairs and actual state of affairs.
Information Search INTERNAL MARKET ER CONTROLLED EXTERNAL NON-MARKET ER SOURCE OF INFORMATION
COST VS. BENEFITS OF INFORMATION DECISION DELAY costs OPPORTUNITY COST INFORMATION OVERLOAD PSYCHOLOGICAL COST
FACTORS INFLUENCING EXTERNAL SEARCH A. B. NO. OF ALTERNATIVES STORE CONCENTRATION C. INFORMATION AVAILABILITY
FACTORS INFLUENCING EXTERNAL SEARCH PRODUCT CHARACTERISTICS ä PRICE ä PRODUCT DIFFERENTIATION ä POSITIVE PRODUCT CONT.
CONSUMER CHARACTERISTICS PERCEIVED RISK AGE, SEX, SOCIAL STATUS
ALTERNATIVE EVALUATION 1. HOW TO IDENTIFY EVALUATIVE CRITERIA 2. HOW TO MEASURE EVALUATIVE CRITERIA
Alternative Evaluation cont. 3. CONSUMERS’ PERCEPTION OF PERFORMANCE LEVEL OF EACH EVALUATIVE CRITERIA 4. IMPORTANCE ATTACHED TO EACH EVALUATIVE CRITERIA
ALTERNATIVE EVALUATION (CONTINUED) 5. DECISION RULES USED BY CONSUMERS IN SELECTING DIFFERENT ALTERNATIVES
DECISION RULES USED IN ARRIVING AT A DECISION A. COMPENSATORY MODELS
B. NON-COMPENSATORY MODELS: CONJUNCTIVE DISJUNCTIVE LEXICOGRAPHIC
Perception Defined: äPerception is the process by which a person selects, organizes, and interprets information.
Selective nature of perception selective exposure selective attention selective comprehension selective retention
Subliminal Advertising: What is the controversy about by: S. C. Dudley, Akron Business and Economic Review. (Summer 1987) pp. 6 -18.
Subliminal Perception ä Subliminal perception refers to the individuals ability to perceive and respond to stimuli that are below the “limen” or level of consciousness. awareness threshold (supraliminal) subliminal absolute threshold
Methods ä Briefly presenting visual stimuli (utilizing a tachistoscope) ä Accelerating Speech ( low volume auditory messages)
Methods cont. • Embedding (print Media) • Suggestive methods (picture implies much more than a quick glance would indicate)
Motivation äA motive (or drive) is a need that is sufficiently pressing to compel the person to act.
Maslow’s Hierarchy of Needs 5 Selfactualization (self-development and realization) 4 Esteem needs (self-esteem, recognition) Social needs 3 (sense of belonging, love) 2 1 Safety needs (security, protection) Psychological needs (food, water, shelter)
Attitude Defined: An attitude is an enduring organization of motivational, emotional, perceptual, and cognitive process with respect to some aspect of our environment.
Tri- component model of attribute Cognition Conation - Likelihood or tendency to act. Affect
Attitude Change Strategies 1. Changing the cognitive component. 2. Changing the affective component. 3. Changing the behavioral component
Learning Any change in the content and organization of long-term memory. Learning Theories: Classical Conditioning Operant Conditioning Cognitive Theories