3 - Coach (S11.

E189) Peer Learning Task

GROUP MEMBERS: Boquinquito, Keisha BSBA-MM2-B1
Taypin, Ma. Louisa BSBA-MM2-B1
Timtim, Kate Justine BSBA-MM2-B1

ARTICLE: ANALYZING CONSUMER’S BUYING BEHAVIOUR

https://www.managementstudyguide.com/consumer-buying-behaviour.htm

Summarization of Keisha Boquinquito - Abstracting Technique

This article underscores the critical role of understanding consumer behavior in the marketing domain. It emphasizes
the dire consequences that can arise from neglecting consumer behavior, using the example of Wal-Mart's misstep in
Latin America. The multifaceted influences on consumer buying behavior, encompassing social, cultural, individual,
and emotional factors, are explored. Cultural, sub-cultural, and social class considerations are crucial in shaping
consumer choices. The article delves into the dynamic nature of personality traits, occupation, and income levels in
influencing buying patterns. It also highlights the psychological aspects of motivation, perception, learning, beliefs,
and attitudes, referencing theories like Maslow's hierarchy and Herzberg Theory. The significance of the buying
process, from initiation to post-purchase behavior, is discussed, emphasizing the need for companies to align with
consumer expectations. The complexity of consumer markets, influenced by geographical, social, cultural,
psychological, and demographic factors, underscores the intricacies companies face in formulating effective strategies.
Overall, the article underscores the imperative for marketers to comprehend and adapt to the multifaceted nature of
consumer behavior throughout the buying process.

Summarization of Ma. Louisa Taypin - Bullet Points and Lists Technique

- The marketing department's core function is to understand and satisfy consumer needs, wants, and desires.
- Consumer behavior encompasses aspects of purchase, utility, and disposal of products and services, considering
groups and organizations within the consumer framework.
- Failure to understand consumer behavior can lead to negative consequences, as demonstrated by Wal-Mart's
experience in Latin America.
- Social, cultural, individual, and emotional forces play a significant role in defining consumer buying behavior.
- Cultural, sub-cultural, and social class factors are crucial in finalizing consumer behavior.
- Social forces, including family, friends, peer groups, status, and role in society, also influence consumer behavior.
- Reference groups, such as primary groups (friends, family, peers) and secondary groups (formal associations), have
direct or indirect influence on consumers.
- Individual personality traits, influenced by factors like occupation and income levels, affect consumer buying
patterns.
- Motivation, perception, learning, beliefs, and attitudes are psychological factors that influence an individual's buying
behavior.
- Maslow's hierarchy, Herzberg Theory, and Freud Theory attempt to explain different motivational levels in buying
decisions.
- Perception involves what a consumer understands about a product through their senses, influencing their purchasing
decisions.
- Learning from experiences shapes consumer behavior, and positive experiences result in pleasant learning.
- Beliefs, pre-conceived notions about a brand, influence consumer choices, and companies may capitalize on these
beliefs.
- Beyond buying behavior, analyzing the actual buying process is essential for companies.
- Complex buying behavior requires high buyer involvement due to infrequency, expense, and significant differences
among choices (e.g., automobiles).
- Habitual buying, like grocery shopping, involves less buyer involvement due to brand similarities, frequency, and
lower costs.
- The buying process includes purchase need, decision makers, information search, alternatives evaluation, purchase
decision, and post-purchase behavior.
- Marketers need to understand consumer experiences and expectations at each stage of the buying process.
- Initiating purchase needs and providing readily available information are crucial in the marketing strategy.
- Consumers evaluate alternatives based on brand perception and belief, influencing their final purchase decision.
- Post-purchase satisfaction leads to repeat purchases or brand recommendations to others.
- Consumer markets are defined by geographical, social, cultural, psychological, personality, reference groups, and
demographic factors.
- Companies must consider all these factors in formulating their marketing strategies.
 3 - Coach (S11.E189) Peer Learning Task
GROUP MEMBERS: Boquinquito, Keisha BSBA-MM2-B1
Taypin, Ma. Louisa BSBA-MM2-B1
Timtim, Kate Justine BSBA-MM2-B1

Summarization of Kate Justine Timtim - Extraction Technique

A consumer behavior analysis helps to identify how our customers decide on a product or a service. To study their
behavior, we need a mix of qualitative and quantitative data from customer surveys, customer interviews, and the
information gathered from observation of their behavior in-store and online. It also involves studying the factors
influencing purchasing decisions. This includes understanding psychological, social, and economic aspects that drive
consumers. Marketers use this insight to tailor strategies, enhance product appeal, and create effective marketing
campaigns, ultimately aiming to meet consumer needs and preferences. The study of consumer behavior is the study
of how individuals make decision to spend their available resources (time, money efforts) on consumption related
items. It include the study of what they buy, why they buy it, when they buy it, where they buy it, how often they it,
and how often they use it.

FINAL SUMMARIZATION - EXTRACTION

The marketing department's primary role is to comprehend and fulfill consumer needs, wants, and
desires, encompassing aspects of purchase, utility, and disposal of products and services.

Failure to grasp consumer behavior can lead to disastrous consequences, as exemplified by Wal-
Mart's struggles in Latin America, where differences in consumer preferences were overlooked.

Cultural, sub-cultural, and social class factors, along with social forces like family, friends, and peer
groups, significantly shape consumer buying behavior. Individual personality traits, influenced by life
cycle, occupation, and income levels, impact consumer choices.

Psychological factors such as motivation, perception, learning, beliefs, and attitudes play a crucial role
in determining overall buying behavior. Theories like Maslow's hierarchy, Herzberg Theory, and
Freud Theory attempt to explain motivational levels in buying decisions.

Learning from experiences and leveraging pre-conceived beliefs are highlighted as influencers of
consumer behavior. Companies are advised to analyze the entire buying process, considering complex
and habitual buying behavior, and understand consumer expectations at each stage.

The need for marketers to initiate purchase needs through effective programs and ensure readily
available information for decision-making is emphasized. Evaluating alternatives based on brand
perception and belief, the influence of others' perceptions on the final purchase decision, and post-
purchase satisfaction are vital considerations for companies.

Consumer markets are shaped by geographical, social, cultural, psychological, personality, reference
groups, and demographic factors, urging companies to formulate strategies considering these diverse
elements in the complex buying cycle.