20130926 buyer behavior iba mba48 d
TRANSCRIPT
![Page 1: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/1.jpg)
Buyer Behavior
Session 3: Generic Model and Influencing Factors
Zeeshan Kingshuk Huq
Guest Faculty
![Page 2: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/2.jpg)
2 1/27/14/ZKH
We discussed about the Black Box Model
§ The model itself
§ Its limitation
§ So what is a perfect model?
![Page 3: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/3.jpg)
3 1/27/14/ZKH
The Generic Model of Consumer Behavior
Need Recognition
and Problem
Awareness
Information Search
Evaluation of
Alternatives Actual
Purchase Post-
purchase Evaluation
![Page 4: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/4.jpg)
4 1/27/14/ZKH
The Generic Model of Consumer Behavior
Need Recognition
and Problem
Awareness
Information Search
Evaluation of
Alternatives Actual
Purchase Post-
purchase Evaluation
![Page 5: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/5.jpg)
5 1/27/14/ZKH
Need Recognition and Problem Awareness
§ What is the ‘pain point’
§ What triggers Actual Incidents Location Advertisements / Communications Peer group pressure Luck!
§ Tool: Customer Touchpoint Analysis
§ How to measure the trigger? Web à digital Channel à survey or actual stock-count
![Page 6: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/6.jpg)
6 1/27/14/ZKH
The Generic Model of Consumer Behavior
Need Recognition
and Problem
Awareness
Information Search
Evaluation of
Alternatives Actual
Purchase Post-
purchase Evaluation
![Page 7: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/7.jpg)
7 1/27/14/ZKH
Information Search
§ How External search Internal (memory) search
§ From Where Personal Sources Experience Commercial Public
![Page 8: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/8.jpg)
8 1/27/14/ZKH
Perception
§ Perception: “The process by which an individual receives, selects, organizes, and interprets information to create a meaningful picture of the world”
§ Selective perception processes: Selective Exposure Selective Attention Selective Comprehension Selective Retention
![Page 9: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/9.jpg)
9 1/27/14/ZKH
The Generic Model of Consumer Behavior
Need Recognition
and Problem
Awareness
Information Search
Evaluation of
Alternatives Actual
Purchase Post-
purchase Evaluation
![Page 10: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/10.jpg)
10 1/27/14/ZKH
Evaluation of Alternatives
§ Categories / Areas of Alternatives Products / Services Outlet / Mode of Acquisition / Delivery
§ Influencers Financial ability Time and other associated costs Amount of information customer has Perceived risk against a wrong decision Attitude towards the selection process
- Long versus short list - Personal likings versus logic
![Page 11: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/11.jpg)
11 1/27/14/ZKH
The Generic Model of Consumer Behavior
Need Recognition
and Problem
Awareness
Information Search
Evaluation of
Alternatives Actual
Purchase Post-
purchase Evaluation
![Page 12: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/12.jpg)
12 1/27/14/ZKH
The Purchase Decision
§ What can the marketer do? Simplify the purchase process Make the actual process ‘gratifying’ Reduce ‘road-blocks’
![Page 13: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/13.jpg)
13 1/27/14/ZKH
The Generic Model of Consumer Behavior
Need Recognition
and Problem
Awareness
Information Search
Evaluation of
Alternatives Actual
Purchase Post-
purchase Evaluation
![Page 14: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/14.jpg)
14 1/27/14/ZKH
Post-purchase Behavior
§ Post-purchase Cognitive Dissonance The Anxiety after purchasing Usually seen in all case except regular, routine, low-
involvement purchases The search for Consistency between
- Knowledge - Attitude - Beliefs - Values
Usually triggered because of ‘disturbing information’ received AFTER the purchase
![Page 15: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/15.jpg)
15 1/27/14/ZKH
Post-purchase Behavior
§ How to reduce Cognitive Dissonance Continued communication / advertising stressing the
positives Personalized reinforcement in case of big-ticket items Follow-up ‘calls’ WoM ‘Club’
![Page 16: 20130926 buyer behavior iba mba48 d](https://reader036.vdocuments.us/reader036/viewer/2022070319/5580d2b1d8b42a03198b46ce/html5/thumbnails/16.jpg)
16 1/27/14/ZKH
QUESTIONS AND ANSWERS