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Consumer Behavior

1/1/2014

Consumer Buying Decision Process 2 Marketers Must Identify and Understand: Who Makes the Buying Decision Types of Buying Decisions Stages in the Buying Process 1/1/2014 .

Consumer Buying Decision Process 3 Understand  Buying rolesying  Initiator  Influencer  Decider decision process  Buyer  User 1/1/2014 .

Consumer Buying Decision Process 4 Understand  Buying roles  Buying behavior  Buying decision process  Complex buying behavior  Dissonance-reducing buying behavior  Habitual buying behavior  Variety-seeking buying behavior 1/1/2014 .

Consumer Buying Decision Process 5 Understand  Buying roles  Buying behavior  Buying decision process  Five stages in the consumer buying process  The amount of time spent in each stage varies according to several factors 1/1/2014 .

Consumer Buying 6 Decision Process Five-Stage Model of the Consumer Buying Process 1/1/2014 .

Need Recognition 7  Need/Problem Recognition  Can be triggered by internal or external stimuli  Needs become wants. which lead to behavior  Marketing stimuli can stimulate a desire for information 1/1/2014 .

Information Search 8  Sources of information:  Internal Sources  Personal Sources  External Sources  Time. effort and expense dedicated to information search depends on:    Degree of risk involved in the purchase Amount of expertise with the product category Actual cost of the search  Evoked set:  A narrowed down set of alternatives that the customer is considering 1/1/2014 .

Evaluation of Alternatives 9  Customers evaluate products as bundles of attributes  Brand attributes  Product features  Aesthetic attributes  Price  Customers place different levels of importance on attributes  Important considerations in the evaluation stage: Products must be in the evoked set  Consumers’ choice criteria must be understood  Marketing programs must be designed to influence consumers’ opinions about product or brand image  1/1/2014 .

Purchase Decision 10  Purchase intention and the act of buying are distinct concepts  Potential intervening factors between intention and buying (car example):  Unforeseen circumstances  Angered by the salesperson or sales manager  Unable to obtain financing  Customer changes mind  Key issues in the purchase decision stage:  Product availability  Possession utility 1/1/2014 .

Post purchase Evaluation 11  Four possible outcomes in the post purchase stage:  (1) Delight  (2) Satisfaction  (3) Dissatisfaction  (4) Cognitive Dissonance  Firm’s ability to manage dissatisfaction and cognitive dissonance is:  A key to creating customer satisfaction  A major influence on word-of-mouth communication 1/1/2014 .