Lecture on Consumer Behavior www assignmentpoint com

Lecture on Consumer Behavior www. assignmentpoint. com

CONSUMER PURCHASE DECISION PROCESS

CONSUMER PURCHASE DECISION PROCESS • Problem Recognition: Perceiving a Need • Information Search: Seeking Value

CONSUMER PURCHASE DECISION PROCESS • Alternative Evaluation: Assessing Value § Evaluative criteria § Evoked set • Purchase Decision: Buying Value • Postpurchase Behavior: Value in Consumption or Use § Cognitive dissonance

CONSUMER PURCHASE DECISION PROCESS • Involvement and Problem-Solving Variations

Comparison of problem-solving variations

CONSUMER PURCHASE DECISION PROCESS • Involvement and Problem-Solving Variations • • Routine Problem Solving Limited Problem Solving Extended problem Solving Involvement and Marketing Strategy • Situational Influences

Influences on the consumer purchase decision process

PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR • Motivation and Personality • Motivation

Hierarchy of needs “Maslow”

PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR • Motivation and Personality • Personality § National character § Self-concept • Perception • Selective Perception • Subliminal perception

PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR • Perception • Perceived Risk • Learning • Behavioral Learning • Cognitive Learning • Brand Loyalty

PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR • Values, Beliefs, and Attitudes • Attitude Formation § Attitude § Beliefs • Attitude Change • Lifestyle

VALSTM psychographic segments

SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR • Personal Influence • Opinion Leadership • Word of Mouth

SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR • Reference Groups • Family Influence • Consumer Socialization • Family Life Cycle

Modern US family life cycle

SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR • Family Influence • Family Decision Making

SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR • Social Class • Culture and Subculture • African-American Buying Patterns • Hispanic Buying Patterns • Asian Buying Patterns

Chevy Impala Ad That Targets Korean. Americans

Chevy Venture Print Ad That Targets the Chinese. American Market

Consumer Behavior Consumer behavior is the actions a person takes in purchasing and using products and services, including the mental and social processes that precede and follow these actions.

Purchase Decision Process The stages a buyer passes through in making choices about which products and services to buy is the purchase decision process.

Evaluative Criteria A consumer’s evaluative criteria represent both the objective and subjective attributes of a brand used to compare different products and brands.

Evoked Set An evoked set is the group of brands that a consumer would consider acceptable from among all the brands of the product class of which he or she is aware.

Cognitive Dissonance A feeling of postpurchase psychological tension or anxiety is called cognitive dissonance.

Involvement is the personal, social, and economic significance of a purchase to a consumer.

Situational Influences Situational influences that have an impact on the purchase decision process are: (1) the purchase task, (2) social surroundings, (3) physical surroundings, 4) temporal effects, and (5) antecedent states.

Motivation is the energizing force that causes behavior that satisfies a need.

Personality refers to a person’s consistent behaviors or responses to recurring situations.

National Character A national character is a distinct set of personality characteristics common among people of a country or society.

Self-Concept A person’s self-concept is the way people see themselves and the way they believe other people see them.

Perception is the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world.

Subliminal Perception Subliminal perception means that you see or hear messages without being aware of them.

Attitude An attitude is “a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. ”

Beliefs are a consumers subjective perception of how well a product or brand performs on different attributes.

Lifestyle is a mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them.

Perceived Risk Perceived risk represents the anxieties felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences.

Learning refers to those behaviors that result from (1) repeated experience and (2) thinking.

Brand Loyalty Brand loyalty is a favorable attitude toward and consistent purchase of a single brand over time.

Opinion Leaders Individuals who exert direct or indirect social influence over others are called opinion leaders.

Word of Mouth People influencing each other during their face-to -face conversations is called word of mouth: Satisfied customers tell one person to every three that a dissatisfied customer tells

Reference Groups Reference groups are people to whom an individual looks as a basis for selfappraisal or as a source of personal standards.

Consumer Socialization The process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers is consumer socialization.

Family Life Cycle The family life cycle concept describes the distinct phases that a family progresses through from formation to retirement.

Social Class Social class is defined as the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped.

Subcultures Subgroups within the larger, or national, culture with unique values, ideas and attitudes are referred to as subcultures.