Professional Documents
Culture Documents
2:Analyzing
Consumer
Markets
CONNECTING WITH
CUSTOMERS:
Analyzing
Consumer
Markets
By: Armi Niña A. Bacho
Marketing Management
Prof. Neil B. Gamus
02/08/2020
BRING ME…
A WATSONS CARD
BRING ME…
SOCIAL
CULTUR
AL
PERSON
AL
factors
CULTURAL
factors
What influences Consumer Behavior?
• Culture, subculture, and social class are
particularly important influences on consumer
buying behavior.
1. CULTURE is the fundamental determinant CULTUR
of a person’s wants and behavior
• refers to values, view of self, relationship to AL
others, rituals, etc.
factors
What influences Consumer Behavior?
factors
What influences Consumer Behavior?
factors
What influences Consumer Behavior?
SOCIAL
factors
SOCIA
L
PERSON
AL
factors
What influences Consumer Behavior?
SOCIAL
2. occupation and economic
circumstances
• influences consumption patterns; based on
spendable income, savings and assets
factors
What influences Consumer Behavior?
Rappler: Income Classes in the Income Distribution,
Income Thresholds and Sizes of Income Classes in 2012
Income Class Range of Monthly Size of
SOCIAL
Family Income (In PhP) Class
Poor Less than 7,980 4.2M
Low income (but not poor) Bet. 7,980 to 15,780 7.1 M
Lower middle income Bet. P15,780 to P31,560 5.8 M
Middle class Bet. 31,560 to 78,900 3.6M
factors
Upper middle income Bet. 78,900 to 118,350 470K
Upper income (but not rich) Bet. 118,350 to 157,800 170K
Source:
https://www.rappler.com/tho
Rich At least 157,800 150K
ught-leaders/98624-who-are-
middle-class
What influences Consumer Behavior?
factors
What influences Consumer Behavior?
MASLOW’S
HIERARCHY OF
NEEDS
• Behavior is driven by
lowest, unmet need PERSON
AL
Abraham
Maslow
What are the Three Theories of Human Motivation?
HERZBERG’S TWO-FACTOR
THEORY
• Herzberg developed a two-factor theory that
distinguishes dissatisfiers from satisfiers
• Absence of dissatisfiers is not enough to motivate
purchase; satisfiers must be present
Companies must
strategize to get its
brand into
consumer’s
awareness and choice
sets
What are the Five Stages of Consumer Buying Process?
stage 3: EVALUATION OF
ALTERNATIVES
Some basic concepts to better understand the
consumer evaluation process:
1. Satisfy a need
2. Looking for certain benefits
3. Product as a bundle of attributes Current models of
Example: evaluation see
Hotels—Location, cleanliness, atmosphere, consumers forming
judgments based on
price
a conscious and
Mouthwash—Color, effectiveness, germ-killing rational basis
capacity, taste/flavor, price
Tires—Safety, tread life, ride quality, price
What are the Five Stages of Consumer Buying Process?
stage 3: EVALUATION OF
ALTERNATIVES
BELIEFS AND ATTITUDES
• influences people’s buying behavior (based
on likes and dislikes, feedbacks, comments)
Current models of
EXPECTANCY-VALUE MODEL evaluation see
• attribute evaluation procedure consumers forming
judgments based on
a conscious and
rational basis
What are the Five Stages of Consumer Buying Process?
stage 3: EVALUATION OF
ALTERNATIVES
EXPECTANCY-VALUE MODEL
• Actions
If satisfied: repurchase, say good things about brand
If dissatisfied: may abandon, return the product,
The Marketer’s job
complain, warn friends does not end with
the purchase.
What are the Five Stages of Consumer Buying Process?