05_1ippt
DESCRIPTION
Marketing ManagementTRANSCRIPT
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5Analyzing Consumer Markets
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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?
In what ways do consumers stray from a deliberate rational decision process?
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Hariyali Kisaan Bazaar: Connecting with Customers
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Consumer Behavior
Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.
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What Influences Consumer Behavior?
Cultural Factors
Social Factors
Personal Factors
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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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Social Classes
A1
A2
B1
B2
C
D
E1
E2
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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
Family of orientation: parents and siblings Family of procreation: spouse and children
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Personal Factors
Age Life cycle stage Occupation Wealth
Personality Values Lifestyle Self-concept
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Age and Stage of Lifecycle
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Occupation and Economic CircumstancesMarketers try to identify the occupational groups that have above-average interest in their products and services. Product and brand choice are also affected by economic circumstances—spendable income, savings and assets, debts, borrowing power, and attitudes toward spending and saving—to a great extent.
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Personality
Personality refers to a set of distinguishing human psychological traits that lead to relatively consistent and enduring responses to environmental stimuli. Personality can be a useful variable in analyzing consumer brand choices.
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Brand Personality
Sincerity Excitement Competence Sophistication Ruggedness
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Lifestyle and Values
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Figure 5.1 Model of Consumer Behavior
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Motivation
Freud’sTheory
Behavioris guided by subconsciousmotivations
Maslow’sHierarchyof Needs
Behavioris driven by
lowest, unmet need
Herzberg’sTwo-Factor
Theory
Behavior isguided by motivating
and hygienefactors
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Maslow’s Hierarchy
Source: A. H. Maslow, Motivation and Personality, 3rd ed. (Upper Saddle River, NJ: Prentice Hall, 1987). Printed and electronically reproduced by permission of Pearson Education, Inc., Upper Saddle River, NJ.
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Perception
Selective attention Selective retention Selective distortion Subliminal perception
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Learning
Drive: A strong internal stimulus impelling action Cue: Minor stimuli that determine when, where, and how a person responds Discrimination: Learning to recognize differences in sets of similar stimuli and adjusting our responses accordingly
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Emotions
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Memory
Short term memory Long term memory
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Figure 5.3 Hypothetical LIC Mental Map
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Figure 5.4 Consumer Buying Process
Problem Recognition
Information Search
Evaluation of alternatives
Purchase Decision
Postpurchase Behavior
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Sources of Information
CommercialPersonal
Public Experiential
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Figure 5.5 Successive Sets in Decision Making
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Table 5.3 A Consumer’s Brand Beliefs about Laptop Computers
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Figure 5.6 Steps Between Alternative Evaluation and Purchase
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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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Figure 5.7 How Customers Use or Dispose of Products
Source: Jacob Jacoby, et al., “What about Disposition?” Journal of Marketing (July 1977), p. 23. Reprinted with permission from the Journal of Marketing, published by the American Marketing Association.
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Low-Involvement Decision Making
Elaboration Likelihood Model Central Route Peripheral route
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Decision Heuristics
Availability Representativeness Anchoring and adjustment
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Framing
Choice architecture Nudge
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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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For Review
How do consumer characteristics influence buying behavior?
What major psychological processes influence consumer responses to the marketing program?
How do consumers make purchasing decisions?
In what ways do consumers stray from a deliberate rational decision process?