Marketing

1. ANALYZING CONSUMER MARKETS
Farhan S. Sherazi
LECTURE-1

2. Consumer Behavior–
you are what you buy…

3. A SIMPLE QUESTION
•Think of a recent important
purchase– briefly draw a flowchart of
the steps you recall moving through
from the awareness of need to post
purchase
•What influenced you at each step?

4. What is 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.”

5. Consumer Decision-Making
Process
Need Recognition
Information Search
Cultural, Social,
Individual and
Psychological Evaluation
Factors of Alternatives
affect
all steps
Purchase
Postpurchase
Behavior

7. The consumption process
1-7

8. Complete model of consumer behavior
Start
Need
recognition
Internal
search Influences
Search
• culture
Exposure
• social class
• family
Stimuli Attention Alternative • situation
(marketer evaluation
dominated, Memory
Comprehension
other) Individual
differences
Acceptance Purchase
• resources
• motivation &
Retention involvement
Outcomes • knowledge
• attitudes
• personality,
values, lifestyle
External
search
Dissatisfaction Satisfaction

9. Stages in consumption process
CONSUMER’S PERSPECTIVE MARKETER’S PERSPECTIVE
Pre-Purchase Consumer’s decision How the consumers form or
Issues regarding need for a product change attitude regarding a
Information Search regarding product. How consumers
alternatives infer about product.
Purchase Acquisition of product being Situational factors like time
Issues stressful or convenient. and place of display.
Post-Purchase Product being of pleasure or What determines whether a
Issues distress to consumer consumer will be satisfied
with a product an d what
makes consumer refer the
product.

10. SEGMENTING CONSUMERS
SEGMENTING DIMENSIONS
AGE GEOGRAPHY
GENDER
FAMILY STRUCTURE
SOCIAL CLASS & INCOME
RACE & ETHNICITY LIFESTYLES

11. CONSUMPTION – AN INTERESTING FACT
PEOPLE OFTEN BUY PRODUCTS NOT
FOR WHAT THEY DO BUT FOR WHAT
THEY MEAN
LOVE
INTERDEPENDENCE
NOSTALGIC ATTACHMENT
SELF CONCEPT ATTACHMENT

12. NEEDS & WANTS-DO MARKETERS
MANIPULATE
Who Controls the Market? Consumer or Marketers
Do Marketers Create Artificial Needs?
Are Advertising & Marketing Necessary?
Do Marketers promise miracles?

13. THE DARK SIDE
Addictive Consumption
Compulsive Consumption
Consumed Consumers

14. Addictive Consumption
Reliance on a product becomes extreme

15. Compulsive Consumption
Born to shop

16. Consumed Consumers
Prostitutes, Organ & Hair Donors,Babies for Sale

17. THE ISSUE OF TWO PERSPECTIVES ON
CONSUMER RESEARCH
Positivism
Human Reasoning being supreme.
Stress on quantitative analysis.
World as rational & ordered place with clear
past, present and future.
Interpretivism
Critical about dominance of Science &
Technology.
World is complex, social and cultural.
World as being composed of relative
parameters

18. ANALYTICAL EXERCISE-1
DEVELOP GROUPS…MAXIMUM MEMBER : 05
DEVELOP A MESSAGE FOR THE PRODUCT SHOWN BELOW KEEPING IN VIEW OF
CONSUMER DECISION MAKING PROCESS

19. NOW THINK OF THE FOLLOWING