An Introduction to Consumer Behavior

.Consumer Behavior . and ideas. . . . experiences. . is defined as the study of the buying units and the exchange processes involved in acquiring. services. consuming. . and disposing of goods.

Three Research Perspectives on Consumer Behavior  The Decision-Making Perspective The Experiential Perspective The Behavioral Influence Perspective   .

. . proposes that buying results from consumers perceiving that they have a problem and then they move through a series of rational steps to solve the problem Generic Decision Model Problem Recognition  Search  Alternative Evaluation  Choice  Post acquisition  Evaluation  .The Decision-Making Perspective . . . .

proposes that in some instances buying results from the consumer’s need for fun.The Experiential Perspective. to create fantasies. obtain emotions. . and feelings. . . .

. . . assumes that strong environmental forces propel consumers to make purchases without necessarily first developing strong feelings or beliefs about the product.The Behavioral Influence Perspective . . . .

between two or more social actors. actual or symbolic.Exchange Processes and Consumer Behavior  Exchange is the process that involves the “transfer of something tangible or intangible.” .

Prerequisites for Exchange:      Two or more parties must be present Each party has something of value to the other Each party is capable of communication and delivery Each party must be free to accept or reject the other's offer Each party must believe that it is appropriate or desirable to deal with the other .

Elements of Exchange Six Types of Resources Are Exchanged:  Goods Service  Information Status    Money  Feelings .

Dimensions of Exchange Relations  Four types of consumer exchange relations have been identified:     Restricted versus Complex Exchanges Internal versus External Exchanges Formal versus Informal Exchanges Relational versus Discrete .

Relational exchange   Current hot topic in marketing Characteristics      long term reciprocal obligations non-economic rewards: market embedded ness--social ties between buyer and seller increase perceived value of exchange. extensive formal and informal communications high interdependence  Relational exchange practiced between members of marketing channel. .

Examples. EMAAR’S family day outing .Market Embedded ness   The social ties between buyer and seller increase the perceived value of the exchange.

An Organizing Model of Consumer Behavior  The model has five primary components:      The The The The The Buying Unit Exchange Process Marketer’s Strategy Individual Influencers Environment .

etc. government. attitudes and behaviors  communications  decision making marketing mix segmentation and positioning employs marketing research to understand consumers  Marketer. firms. Buying unit   consumers. non-profits. Individual influencers  information processing  behavioral learning  motivation and personality  beliefs. who develops strategy    .

 situations  groups and families  culture  subculture  cross cultural issues  regulatory environment .Environmental Analysis:  the marketer assesses the impact of each of the below facets of the environment on the firm.

Managerial Applications Analysis (PERMS)  Five factors to consider when using consumer behavior principles to develop managerial strategy are:      positioning and differentiation environmental analysis marketing research marketing mix segmentation .

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