3. Marketing Essentials - A Presentation On
Product & Consumer Buying Decisions
By
Pranay Chandra Reddy
&
Abhilash Manikanta Yadav

4. C I. Different Levels Of Product
O
N
T II. Classification Of Products
E
N
III. Consumer Buying Decisions
T
S

5. Definition Of A Product

 A good, idea, method, information, object or service
created as a result of a process and serves a need or
satisfies a want. It has a combination of tangible and
intangible attributes
(benefits, features, functions, uses) that a seller offers
a buyer for purchase.

6. I. Different Levels Of
Product


7. Different Levels Of Product

 Three levels of product
 Core benefit
 Actual product
 Augmented product

8. Different Levels Of Product

 Five levels of product
 Core benefit
 Generic product
 Expected product
 Augmented product
 Potential product

9. PLC

10. Classifications/Types Of
Products


11. Classifications Of Product

 Products are classified into two types
 Consumer products
 Industrial products

12. Consumer Products

 Def. of Consumer products : Those are the products
and services bought by final consumers for personal
consumption.
ζ They are sub-classified as
ζ Convenience products
ζ Shopping products
ζ Specialty products
ζ Unsought products

13. Industrial Products

 Def. of Industrial products : Those are products
purchased for further processing or for use in conducting
a business.
ζ They are sub-classified on basis of purpose 4r which de
product is purchased
ζ Materials and parts
ζ Capital items
ζ Supplies and services

14. Mark Envi

15. Consumer Buyer Behavior
&
Consumer Markets


16. Consumer Buyer Behavior

 Def. of Consumer buyer behavior : It refers to the
buying behavior of final consumers – individuals
and households who buy goods and services for
personal consumption

17. Buyer Behavior Model


18. Factors Influencing
Consumer Behaviour


19. Consumer Buying Decision
Process
Need
recognition
• Can be triggered by internal or external stimuli. Needs become wants, which lead to
behavior
•Sources of information: Internal Sources, Personal Sources, External Sources
•Time, effort and expense dedicated to information search depends on: Degree of risk involved in
Information
search the purchase, Amount of expertise with the product category, Actual cost of the search.
• Customers evaluate products as bundles of attributes, Customers place different levels
Evaluation
of of importance on attributes.
alternatives
• Purchase intention and the act of buying are distinct concepts, Potential intervening
Purchase factors between intention and buying, Key issues in the purchase decision stage.
decision
Post- • Four possible outcomes in the post-purchase stage
purchase
behavior