Understanding

Consumer Behavior

REPORTERS: Chendy Alama, Jorge Magalso, Thrisha Toro & Joshua Genesis Vincoy
The Exchange Process
 Consumer Behavior

Consumer behavior
refers to buyers who are
purchasing products for
personal, family, or group
use.
 The Economic Man Theory

According to the
‘’economic man” model,
consumers are rational
and narrowly self-
interested.
Stimulus-Response Model
 Buyer Behavior As Problem Solving

The problem-solving process is

triggered when a consumer
identifies some unmet need.
This problem-solving process also
involves needs and wants.
A need is a basic deficiency for an
essential item.
A want places specific, personal
criteria on how a need must be
fulfilled.
THE CONSUMER DECISION-MAKING PROCESS
FACTORS INFLUENCING CONSUMER DECISIONS
 FACTORS INFLUENCING CONSUMER DECISIONS

 Situational Factors pertain to the consumer’s level of

involvement in a buying task and the market offerings that are
available.

b. Market Offerings. The available market

a. Buying Task refers to the
consumer’s approach to solving
a particular problem and how
much effort it requires.
offerings are another relevant set of situational
influences on consumer problem solving. The
more extensive the product and brand choices
available to the consumer, the more complex the
purchase decision process is likely to be. And the
more limited the market offerings are, the simpler
the purchase decision process is likely to be.
 FACTORS INFLUENCING CONSUMER DECISIONS

Personal Factors are individual characteristics and traits such as age,

life stage, economic situation, and personality .
PERSONAL FACTORS

DEMOGRAPHICS LIFE STAGE LIFESTYLE PERSONALITY

 FACTORS INFLUENCING CONSUMER
DECISIONS: PERSONAL FACTORS -
DEMOGRAPHIC

 Demographics include
variables such as age,
gender, income level,
educational attainment,
and marital status.
 FACTORS INFLUENCING CONSUMER
DECISIONS: PERSONAL FACTORS – LIFE
STAGE

 Life Stage. Linked to

demographics is the
concept of life stage:
consumer behavior is tied
to the significant life
events and circumstances
people are experiencing at
any given moment
 FACTORS INFLUENCING CONSUMER
DECISIONS: PERSONAL FACTORS - LIFESTYLE

 Lifestyle refers to the

potential customer’s
pattern or being or living
in the world combined
with his or her
psychographics (a set of
attitudes, opinions,
aspirations, and interests).
 FACTORS INFLUENCING CONSUMER
DECISIONS: PERSONAL FACTORS -
PERSONALITY

 Personality is used to
summarize all the traits of a
person that make him or her
unique. Personality traits may
also include characteristics
linked to they ways people view
themselves and calibrate their
behavior in the world.
aa

FACTORS INFLUENCING CONSUMER DECISIONS

Psychological Factors - referring to the workings of the mind or psyche:

motivation, learning and socialization, attitudes and beliefs.

a. Motivation
 FACTORS INFLUENCING CONSUMER
DECISIONS: PSYCHOLOGICAL FACTORS
B. Learning and Socialization
 FACTORS INFLUENCING CONSUMER DECISIONS:
PSYCHOLOGICAL FACTORS
c. Attitudes and Beliefs represent another psychological factor that influences
consumer behavior. A belief is a conviction a person holds about something. An
attitude is a consistent view of something that encompasses the belief as well as an
emotional feeling and a related behavior.
FACTORS INFLUENCING CONSUMER
DECISIONS
Social Factors pertain to the influence
of culture, social class, family, and
reference groups.

a. Culture - A person’s culture is

represented by a large group of people
with a similar heritage. Culture exerts a
strong influence on a person’s needs and
wants because it is through culture that
we learn how to live, what to value, and
how to conduct ourselves in society.
FACTORS INFLUENCING CONSUMER DECISIONS: SOCIAL FACTORS
b. Social Class
FACTORS INFLUENCING CONSUMER DECISIONS: SOCIAL
FACTORS
c. Reference Groups -person comes into contact with,
through friendship, face-to-face interaction, and even
indirect contact.
- may be either a formal or informal group.
- Can influence through:
 Role expectation
 Conformity
 Group communications through opinion leaders
 Word-of-mouth influence
FACTORS INFLUENCING CONSUMER DECISIONS: SOCIAL FACTORS

d. Family
The end.