Marketing
CHAPTER 5 : Consumer Markets and Consumer Buyer Behavior
Consumer Buyer Behavior
• … buying behavior of final consumers - individuals and households who buy goods and services for personal consumption
2
Model of Consumer Behavior
Marketing and Other Stimuli Buyer Responses
Product Choice Brand Choice Dealer Choice
Marketing
• Product • Price • Place • Promotion Buyer’s “Black Box”
Buyer Characteristics
Other
• Economic • Technological • Political • Cultural
Buyer Decision Process
Purchase Timing Purchase Amount
3
Factors Influencing Consumer Behavior
Cultural
Social
•Reference groups •Family •Roles and status
Personal
•Age and life-cycle •Occupation •Economic situation •Lifestyle •Personality and self-concept
Psychological
•Motivation •Perception •Learning •Beliefs and attitudes
•Culture •Subculture •Social class
Buyer
Most basic influences Broadest, deepest
Most specific Most individual
4
Factors Influencing Consumer Behavior –
Cultural Factors
Culture - the most basic cause of a person's wants and behavior
• set of values, perceptions, wants & behavior learned by a member of society
(learned from family & social institutions)
• achievement & success, activity & involvement, efficiency & practicality, progress, material comfort, individualism, freedom, humanitarianism, youthfulness, fitness & health
Subculture - groups of people with shared value systems based on
common life experiences and situations (e.g., based on nationality, religion, race, geographic location, age, etc.) • represent important market segments
e.g., Hispanic, African-American, Asian-American e.g., Gen Y, Gen X, Baby Boomers, Mature Market
5
Factors Influencing Consumer Behavior –
Cultural Factors
Social Class - Society’s relatively permanent and ordered divisions, where members share similar values, interests, and behaviors (including buying behavior)
• Based on resources, power, prestige •
Consumer Buyer Behavior
• … buying behavior of final consumers - individuals and households who buy goods and services for personal consumption
2
Model of Consumer Behavior
Marketing and Other Stimuli Buyer Responses
Product Choice Brand Choice Dealer Choice
Marketing
• Product • Price • Place • Promotion Buyer’s “Black Box”
Buyer Characteristics
Other
• Economic • Technological • Political • Cultural
Buyer Decision Process
Purchase Timing Purchase Amount
3
Factors Influencing Consumer Behavior
Cultural
Social
•Reference groups •Family •Roles and status
Personal
•Age and life-cycle •Occupation •Economic situation •Lifestyle •Personality and self-concept
Psychological
•Motivation •Perception •Learning •Beliefs and attitudes
•Culture •Subculture •Social class
Buyer
Most basic influences Broadest, deepest
Most specific Most individual
4
Factors Influencing Consumer Behavior –
Cultural Factors
Culture - the most basic cause of a person's wants and behavior
• set of values, perceptions, wants & behavior learned by a member of society
(learned from family & social institutions)
• achievement & success, activity & involvement, efficiency & practicality, progress, material comfort, individualism, freedom, humanitarianism, youthfulness, fitness & health
Subculture - groups of people with shared value systems based on
common life experiences and situations (e.g., based on nationality, religion, race, geographic location, age, etc.) • represent important market segments
e.g., Hispanic, African-American, Asian-American e.g., Gen Y, Gen X, Baby Boomers, Mature Market
5
Factors Influencing Consumer Behavior –
Cultural Factors
Social Class - Society’s relatively permanent and ordered divisions, where members share similar values, interests, and behaviors (including buying behavior)
• Based on resources, power, prestige •