consumer buying behavior. good afternoon!! 9/9/13 today’s agenda: learning about consumer buying...
TRANSCRIPT
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CONSUMER BUYING BEHAVIOR
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Good Afternoon!! 9/9/13
Today’s Agenda: Learning about Consumer Buying Behavior through: Consumer Vocabulary Consumer Buying Process Notes
This week: Consumer rights and responsibilities Comparison Shopping – what are YOU going
to shop for?
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Consumer Market
Consists of all the individuals and households who buy or acquire goods and services for personal consumption.
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Consumer Buying Decision Process
Problem Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Post-PurchaseEvaluation
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Types of Buying BehaviorRoutine ResponseLimited Decision Extensive Decision Impulse Buying
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Factors Influencing Consumer Behavior
PersonalPsychological
SocialCultural
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Personal FactorsAgeLife-Cycle Stage
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Stages in Family Life-Cycle
1. Single2. Newly Married Couples3. Full Nest I4. Full Nest II5. Full Nest III6. Empty Nest I7. Empty Nest II8. Solitary Survivor9. Solitary Survivor, Retired
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Personal Factors
AgeLife-Cycle StageOccupationEconomic CircumstancesLife Style
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Buying Motives
Psychological WANTS Motivations Perceptions Learned experiences
Functional Satisfies a NEED
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Psychological Factors“Wants”
Based on a want or desire to have something. Not a necessity.
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Psychological Factors
Motivation: Freud
IdEgoSuper Ego
MaslowHierarchy of Needs
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Psychological Factors Motivation Perception
The process by which an individual selects, organizes, and interprets inputs to create a meaningful picture of the world. Selective Exposure Selective Distortion Selective Retention
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Psychological FactorsMotivationPerceptionLearning
Changes in an individual’s behavior arising from experience
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Psychological Factors Motivation Perception Learning Beliefs
Descriptive thoughts that a person holds about something
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Psychological Factors Motivation Perception Learning Beliefs Attitudes
Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies
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Functional Factors“Needs”
Need over wants. Delivers to a real “need” to have something.
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Social Class
Relatively homogenous, enduring divisions in a society,
hierarchically ordered with members sharing similar values,
interests, and behaviors.
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American Social Classes
Upper Upper 1% Lower Upper 2% Upper Middle 12% Middle 32% Working 38% Upper Lower 9% Lower Lower 7%
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Family Influence on Buying Behavior
Husband-DominantWife-DominantEqual
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Culture & Subcultures
Cultures The accumulation of values, knowledge,
beliefs, customs, objects, and concepts that a society uses to cope with its environment
Subcultures Groups of individuals who have similar value
and behavior patterns within the group but differ from those in other groups.
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Adoption Process1. Awareness2. Interest3. Evaluation4. Trial5. Decision6. Confirmation
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Examples of Buying Motives:Psychological or Functional?
A senior wants to impress his date at the prom .His primary motive is …?
Psychological
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Examples of Buying Motives:Psychological or Functional? A girl wants to remember her
grandmother on her birthday.Her primary motive is…?
Psychological
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Examples of Buying Motives:Psychological or Functional? A homemaker needs a new washing
machine and has had good experiences with Sears.
Her primary motive is …?
Functional
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Examples of Buying Motives:Psychological or Functional? A teacher wants to buy a practical car to
be used for family transportation.Her/His primary motive is …?
Functional
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Examples of Buying Motives:Psychological or Functional? A career woman always buys Liz
Claiborne clothes.Her primary motive is…?
Psychological
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Examples of Buying Motives:Psychological or Functional? An overweight 40 year old man wants to
loose weight so that he can reduce his blood pressure.His primary motive is…?
Functional
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Examples of Buying Motives:Psychological or Functional? A homeowner needs to mow their lawn.
Their primary motive is…?
Functional
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Consumer Buying Behavior Competency
Functional Motive
Psychological Motive
The price is 40 cents off the regular price.
It never needs ironing.
Diamonds are forever.
Serving you since 1971.
Ninety-day warranty.
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Consumer Buying Behavior Competency
Functional Motive
Psychological Motive
Running shoe with built-in arch.
It’s all the rage—colored action wear and style.
Wheaties—the breakfast of champions!
Steel-belted radial tires warranted for 40,000 miles
A watch—a gift she will treasure always.
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Consumer Buying Decision Process
Problem Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Post-PurchaseEvaluation