Consumer Buying Behavior

Learning Objectives
Understand the major factors influencing consumer behavior Know and recognize the types of buying decision behavior Understand the stages in the buying decision process

Consumer Market
Consists of all the individuals and households who buy or acquire goods and services for personal consumption.

Consumer Buying Decision Process Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Evaluation .

Types of Buying Behavior Routine Response Limited Decision Extensive Decision Impulse Buying .

Factors Influencing Consumer Behavior Personal Psychological Social Cultural .

Personal Factors Age Life-Cycle Stage .

6. 5.Stages in Family Life-Cycle 1. Retired . 3. 2. Single Newly Married Couples Full Nest I Full Nest II Full Nest III Empty Nest I Empty Nest II Solitary Survivor Solitary Survivor. 9. 8. 4. 7.

Personal Factors Age Life-Cycle Stage Occupation Economic Circumstances Life Style .

Psychological Factors “Wants” Based on a want or desire to have something. . Not a necessity.

Psychological Factors Motivation: Freud Id Ego Super Ego Maslow Hierarchy of Needs .

organizes. and interprets inputs to create a meaningful picture of the world.Psychological Factors Motivation Perception The process by which an individual selects. Selective Exposure Selective Distortion Selective Retention .

Psychological Factors Motivation Perception Learning Changes in an individual’s behavior arising form experience .

Psychological Factors Motivation Perception Learning Beliefs Descriptive thoughts that a person holds about something .

Psychological Factors Motivation Perception Learning Beliefs Attitudes Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies .

Functional Factors “Needs” Need over wants. . Delivers to a real “need” to have something.

enduring divisions in a society. hierarchically ordered with members sharing similar values. interests. and behaviors.Social Class Relatively homogenous. .

American Social Classes Upper Upper Lower Upper Upper Middle Middle Working Upper Lower Lower Lower 1% 2% 12% 32% 38% 9% 7% .

Group Influences Brand Choice Strong Public Luxuries Strong Golf Clubs Snow Skis Sail Boat Weak Private Luxuries TV Video Games Ice Makers Trash Compactors Product Choice Weak Public Necessities Private Necessities Wrist Watch Automobiles Dress Clothes Mattresses Floor Lamps .

Family Influence on Buying Behavior Husband-Dominant Wife-Dominant Equal .

beliefs.Culture & Subcultures Cultures The accumulation of values. knowledge. customs. objects. . and concepts that a society uses to cope with its environment Subcultures Groups of individuals who have similar value and behavior patterns within the group but differ from those in other groups.

4. 5. Awareness Interest Evaluation Trial Decision Confirmation .Adoption Process 1. 2. 6. 3.

Examples of Buying Motives: Psychological or Functional? A senior wants to impress his date at the prom . His primary motive is …? Psychological .

Her primary motive is…? Psychological .Examples of Buying Motives: Psychological or Functional? A girl wants to remember her grandmother on her birthday.

Examples of Buying Motives: Psychological or Functional? A homemaker needs a new washing machine and has had good experiences with Sears. Her primary motive is …? Functional .

Examples of Buying Motives: Psychological or Functional? A teacher wants to buy a practical car to be used for family transportation. Her/His primary motive is …? Functional .

Her primary motive is…? Psychological .Examples of Buying Motives: Psychological or Functional? A career woman always buys Liz Claiborne clothes.

Examples of Buying Motives: Psychological or Functional? An overweight 40 year old man wants to loose weight so that he can reduce his blood pressure. His primary motive is…? Functional .

Their primary motive is…? Functional .Examples of Buying Motives: Psychological or Functional? A homeowner needs to mow their lawn.

Diamonds are forever. .Consumer Buying Behavior Competency Functional Motive Psychological Motive The price is 40 cents off the regular price. Ninety-day warranty. It never needs ironing. Serving you since 1971.

000 miles A watch—a gift she will treasure always.Consumer Buying Behavior Competency Running shoe with built-in arch. Wheaties—the breakfast of champions! Steel-belted radial tires warranted for 40. Functional MotivePsychological Motive . It’s all the rage— colored action wear and style.

Learning Objectives-Reviewed Understand the major factors influencing consumer behavior Know and recognize the types of buying decision behavior Understand the stages in the buying decision process .

Consumer Buying Behavior .

Consumer Buying Decision Process Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Evaluation .