Philips Kotler Marketing Management
Marketing Management
By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif
SUMMARY by
Chapter
6
Analyzing Consumer Markets
Since marketing starts from the customer, it is of primary importance to understand the psyche of the customers and their buying motives. This chapter talks about the various behavioural patterns that govern the decision making process of a customer. A marketer needs to understand these factors affecting the customer’s purchase decisions so as to design an appropriate marketing strategy.
Factors affecting Consumer Buying
Behaviour
1. Cultural Factors
a. Culture - Frames traditions, values, perceptions, preferences. E.g. Child learning from family & surroundings.
b. Sub-culture - Provides more specific identification and socialization. Include nationalities, religions, racial groups and geographic regions.
c. Social Class – Homogeneous and enduring divisions in a society which are hierarchically ordered. Members share similar tastes and behaviour.
2. Social Factors
a. Reference Groups – Have direct or indirect influence on person’s attitude and behaviour. Primary groups: regular interaction, e.g. family, friends, neighbours. Secondary groups: religious, professional, trade union groups.
Aspirational Groups: ones that a person hopes to join. Dissociative groups: whose values or behaviour and individual rejects.
b. Family – Family of orientation: parents and siblings. Acquires orientation towards religion, politics and economics, sense of personal ambition, self worth and love. Family of procreation: spouse and children. More direct influence on buying behaviour.
c. Roles and Status – Role consists of activities a person is expected to perform. Each role carries a status. Marketers must be aware of the status symbol of each product.
Chapter 6 - Analyzing Consumer Markets
3. Personal Factors
a. Age and Stage in the Life Cycle – Tastes are age related. Markets should also
By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif
SUMMARY by
Chapter
6
Analyzing Consumer Markets
Since marketing starts from the customer, it is of primary importance to understand the psyche of the customers and their buying motives. This chapter talks about the various behavioural patterns that govern the decision making process of a customer. A marketer needs to understand these factors affecting the customer’s purchase decisions so as to design an appropriate marketing strategy.
Factors affecting Consumer Buying
Behaviour
1. Cultural Factors
a. Culture - Frames traditions, values, perceptions, preferences. E.g. Child learning from family & surroundings.
b. Sub-culture - Provides more specific identification and socialization. Include nationalities, religions, racial groups and geographic regions.
c. Social Class – Homogeneous and enduring divisions in a society which are hierarchically ordered. Members share similar tastes and behaviour.
2. Social Factors
a. Reference Groups – Have direct or indirect influence on person’s attitude and behaviour. Primary groups: regular interaction, e.g. family, friends, neighbours. Secondary groups: religious, professional, trade union groups.
Aspirational Groups: ones that a person hopes to join. Dissociative groups: whose values or behaviour and individual rejects.
b. Family – Family of orientation: parents and siblings. Acquires orientation towards religion, politics and economics, sense of personal ambition, self worth and love. Family of procreation: spouse and children. More direct influence on buying behaviour.
c. Roles and Status – Role consists of activities a person is expected to perform. Each role carries a status. Marketers must be aware of the status symbol of each product.
Chapter 6 - Analyzing Consumer Markets
3. Personal Factors
a. Age and Stage in the Life Cycle – Tastes are age related. Markets should also