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Consumer decision making process.ppt by aliraza afzal 1

  1. Consumer behavior The actions a person takes in purchasing and using products and services, including the mental and social processes that precede and follow these actions. The behavioral sciences help answer questions such as : Why people choose one product or brand over another, How they make these choices, and How companies use this knowledge to provide value to consumers
  2. I. CONSUMER PURCHASE DECISION PROCESS •Behind the visible act of making a purchase lies a decision process that must be investigated. •The purchase decision process is the stages a buyer passes through in making choices about which products and services to buy. : Five Stages of Consumer Behavior 1.problem recognition, 2.information search, 3.alternative evaluation, 4.purchase decision, and behavior
  3. B. Information Search: Seeking Value The information search stage clarifies the options open to the consumer and may involve
  4. Two steps of information search Internal search External search •Personal sources, such as •When past experience or friends and family. knowledge is insufficient •Public sources, including various product-rating •The risk of making a organizations such as wrong purchase decision Consumer Reports. is high •Marketer-dominated sources, such as •The cost of gathering advertising, company information is low. websites, and salespeople
  5. C. Alternative Evaluation: Assessing Value The information search clarifies the problem for the consumer by (1)Suggesting criteria to use for the purchase. (2)Yielding brand names that might meet the criteria. (3)Developing consumer value perception.
  6. D. Purchase Decision: Buying Value Possibilities From whom to buy When to buy which depends on such which can be influenced by considerations •Terms of sale •store atmosphere •Past experience •time pressure buying from the seller •pleasantness of the shopping experience. •Return policy.
  7. E. Postpurchase Behavior: Value in Consumption or Use After buying a product, the consumer compares it with expectations and is either satisfied or dissatisfied. Satisfaction or dissatisfaction affects oconsumer value perceptions oconsumer communications orepeat-purchase behavior. Many firms work to produce positive postpurchase communications among consumers and contribute to relationship building between sellers and buyers. Cognitive Dissonance. The feelings of postpurchase psychological tension or anxiety a consumer often experiences Firms often use ads or follow-up calls from salespeople in this postpurchase stage to try to convince buyers that they made the right decision.
  8. F. Involvement and Problem-Solving Variations Routine Problem Solving Limited Problem Solving •Virtually a habit •Involves the use of moderate •involves little effort seeking information-seeking efforts. external information and •Often used when the buyer has evaluating alternatives. little time or effort to spend. •Typically used for low- priced, frequently purchased products Extended Problem Solving Involvement and Marketing Strategy •Each stage of the consumer •Low and high consumer purchase decision process is used •Considerable time and effort on involvement has important oexternal information search implications for marketing and in identifying strategy, which differs for oevaluating alternatives. •Used in high-involvement products that are market purchase situations. leaders from their challengers.
  9. II. PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR A. Motivation and Personality 1. Motivation 2. Personality •is the energizing force •A person's consistent behavior or responses to recurring situations. that causes behavior that •Research suggests that key traits satisfies a need. affect brand and product-type preferences. •Needs are hierarchical •Cross-cultural analysis also •Once basic physiological suggests that residents of different countries have a national character, needs are met, people or a distinct set of personality seek to satisfy learned characteristics common among needs. people of a country or society.
  10. B. Perception •The process by which an individual uses information to create a meaningful picture of the world by •selecting, •organizing •interpreting •Perception is important because people selectively perceive what they want and it affects how people see risks in a purchase.
  11. C. Learning 1. Behavioral Learning 2. Cognitive learning •The process of •Involves making connections between developing two or more ideas automatic •or simply observing responses to a the outcomes of situation built up others’ behaviors •through repeated •and adjusting one's exposure to it. accordingly.
  12. D. Values, Beliefs, and Attitudes Attitude • A learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. • Shaped by our values and beliefs, which are learned Values • personally or socially preferable modes of conduct or states of existence that are enduring. Beliefs • consumer's subjective perception of how well a product or brand performs on different attributes.
  13. III. SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR Sociocultural influences evolve from a formal and informal relationships with other people. Influences Include •Personal influence •Reference groups •The family •Social class •Culture •Subculture
  14. •A. Personal Influence Opinion leaders Word of mouth •People influencing each other during •individuals who exert face-to-face conversations. direct or indirect social •Power of word of mouth has been influence over others magnified by the Internet and e-mail •B. Reference Groups •Reference groups are people to whom an individual looks as a basis for self-appraisal or as a source of personal standards. Reference groups have an important influence on the purchase of luxury products but not of necessities.
  15. •C. Family Influence •Family influences on consumer behavior result from three sources: •consumer socialization •passage through the family life cycle •decision making within the family. •D. Social Class •The relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior are grouped. •Determinants of social class include •occupation, •source of income (not level of income) •education. •Social class is a basis for identifying and reaching particularly good prospects for products and services. •Upper classes are targeted by companies for items such as financial investments, expensive cars, and evening wear. •Middle classes represent a target market for home improvement centers and automobile parts stores. •Lower classes are targeted for products such as sports and scandal magazines.
  16. •E. Culture and Subculture •Culture refers to the set of values, ideas and attitudes that are accepted by a homogeneous group of people and transmitted to the next generation. Subcultures - groups within the larger, or national, culture with unique values, ideas, and attitudes. •three largest racial/ethnic subcultures in the U.S •Hispanics, •African-Americans •Asians . •Each of these groups exhibits sophisticated social and cultural behaviors that affect their buying patterns.
  17. •1. African-American •Buying Patterns African-Americans have the largest spending power of the three subcultures While price conscious, they are motivated by product quality and choice. Respond to products and advertising that appeal to their African-American pride and heritage as well as address their ethnic features and needs. •2. Hispanic Buying Patterns •Hispanics represent the largest subculture About 50% are immigrants The majority are under the age of 25. Sensitivity to the unique needs of Hispanics by firms has paid huge dividends. •3. Asian Buying Patterns •The Asian is the fastest growing subculture. About 70% of Asians are immigrants Most are under the age of 30. Asians represent a diverse subculture, including Chinese, Japanese, Filipinos, Koreans, Asian-Indians, people from Southeast Asia, and Pacific Islanders.