6

Analyzing
Consumer Markets

Marketing Management, 16th ed

 Chapter Questions

• How do consumer characteristics

influence buying behavior?
• What major psychological processes
influence consumer responses to the
marketing program?
• How do consumers make purchasing
decisions?
• How do marketers analyze consumer
decision making?
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 What Influences
Consumer Behavior?

• Cultural factors
• Social factors
• Personal factors
• Psychological

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 What is Culture?

Culture is the fundamental determinant

of a person’s wants and behaviors
acquired through socialization
processes with family and other key
institutions.

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 Subcultures

• Nationalities
• Religions
• Racial groups
• Geographic regions

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 Fast Facts About
American Culture

• The average American:

• chews 300 sticks of gum a year
• goes to the movies 9 times a year
• takes 4 trips per year
• attends a sporting event 7 times each year

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 Social Classes

• Upper uppers
• Lower uppers
• Upper middles
• Middle
• Working
• Upper lowers
• Lower lowers

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 Characteristics of Social Classes

• Within a class, people tend to behave

alike
• Social class conveys perceptions of
inferior or superior position
• Class may be indicated by a cluster of
variables (occupation, income, wealth)
• Class designation is mobile over time

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 Social Factors

• Reference groups
• Family
• Social roles
• Statuses

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 Reference Groups

• Membership groups
• Primary groups
• Secondary groups
• Aspirational groups
• Disassociative groups

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 Family Distinctions
Affecting Buying Decisions

• Family of Orientation
• Family of Procreation

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 Personal Factors

• Age • Personality
• Life cycle stage • Values
• Occupation • Lifestyle
• Wealth • Self-concept

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 Brand Personality

• Sincerity
• Excitement
• Competence
• Sophistication
• Ruggedness

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 Lifestyle Influences

• Multi-tasking
• Time-starved
• Money-constrained

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 Table 6.2 LOHAS (Lifestyles of Health
and Sustainability) Market Segments
• Sustainable Economy
• Healthy Lifestyles
• Ecological Lifestyles
• Alternative Health Care
• Personal Development

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 Key Psychological Processes

• Motivation
• Perception
• Learning
• Memory

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 Motivation

Maslow’s Herzberg’s
Freud’s Hierarchy Two-Factor
Theory of Needs Theory

Behavior Behavior Behavior is

is guided by is driven by guided by
subconscious lowest, motivating
motivations unmet need and hygiene
factors

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 Maslow’s Hierarchy of Needs

• Physiological needs
• Safety needs
• Social needs
• Esteem needs
• Self-actualization needs

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 Perception

• Selective attention
• Selective retention
• Selective distortion
• Subliminal perception

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 Figure 6.4 Consumer Buying Process

• Problem recognition
• Information search
• Evaluation
• Purchase decision
• Postpurchase behavior

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 Sources of Information

• Personal
• Commercial
• Public
• Experiential

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 Non-Compensatory Models of Choice

• Conjunctive
• Lexicographic
• Elimination-by-aspects

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 Perceived Risk

• Functional
• Physical
• Financial
• Social
• Psychological
• Time

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 Other Theories of
Consumer Decision Making

Involvement Decision Heuristics

• Elaboration • Availability
Likelihood Model • Representativeness
• Low-involvement • Anchoring and
marketing adjustment
strategies
• Variety-seeking
buying behavior

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 Mental Accounting

• Consumers tend to…

• Segregate gains
• Integrate losses
• Integrate smaller losses with larger gains
• Segregate small gains from large losses

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