20130926 buyer behavior iba mba48 d
Post on 17-Jun-2015
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Buyer Behavior
Session 3: Generic Model and Influencing Factors
Zeeshan Kingshuk Huq
Guest Faculty
zeeshan.huq@gmail.com
2 1/27/14/ZKH
We discussed about the Black Box Model
§ The model itself
§ Its limitation
§ So what is a perfect model?
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
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
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
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
7 1/27/14/ZKH
Information Search
§ How External search Internal (memory) search
§ From Where Personal Sources Experience Commercial Public
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
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
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
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
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’
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
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
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’
16 1/27/14/ZKH
QUESTIONS AND ANSWERS
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