Analyzing Consumer Markets

Dr Sapna Singh

Chapter Objectives
 Influences on Buying Behavior  Buyer Decision Making

Model of Buying Behavior

Marketing Other stimuli stimuli
Economic Product Technological Price Political Place Promotion

Buyers Buyers decision characteristics process

Cultural Social Personal Psychological Problem recognition Information search Evaluation Decision Postpurchase behavior

Buyers decisions
Product choice Brand choice Dealer choice Purchase timing Purchase amount

Cultural Factors
Culture Subculture Social Class

Buyer

Social Factors

Reference Groups Family

Family
 Family of Orientation
 Religion  Politics  Economics

 Family of Procreation
 Everyday buying behavior

Social Factors

Reference Groups Family Roles & Statuses

Influences on Consumer Behavior

Personal Influences
Age and Family Life Cycle Stage

Influences on Consumer Behavior

Personal Influences
Age and Family Life Cycle Stage Occupation & Economic Circumstances Lifestyle Personality & Self-Concept

Psychological Factors

Motivation

Maslows Theory

Psychological Factors

Motivation Memory Perception Learning

The Buying Decision Process

 Buying Roles
     Initiator Influencer Decider Buyer User

Types of Buying Behavior

High Involvement Significant Differences between Brands Complex buying behavior Low Involvement Variety-seeking buying behavior

Few Differences between Brands

Dissonance-reducing buying behavior

Habitual buying behavior

Consumer Buying Process

Problem recognition

Information search

Successive Sets Involved in Customer Decision Making

Consumer Buying Process

Problem recognition Information search Evaluation of alternatives Purchase decision Postpurchase behavior