logging in or signing up Consumer Decision Making aSGuest64366 Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 2673 Category: Business & Fin.. License: All Rights Reserved Like it (2) Dislike it (0) Added: September 03, 2010 This Presentation is Public Favorites: 2 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Slide 1: Consumer Decision Making The Importance of UnderstandingConsumer Behavior : Explain why marketing managers should understand consumer behavior The Importance of UnderstandingConsumer Behavior LOI Consumer Behavior : Consumer Behavior REVIEW LEARNING OUTCOMEUnderstanding Consumer Behavior : REVIEW LEARNING OUTCOMEUnderstanding Consumer Behavior LOI The Consumer Decision-Making Process : Analyze the components of the consumer decision-making process The Consumer Decision-Making Process LO2 Consumer Decision-Making Process : Consumer Decision-Making Process Consumer Decision-Making Process : LO2 Consumer Decision-Making Process Need Recognition : LO2 Need Recognition Need Recognition : LO2 Need Recognition Stimulus : LO2 Stimulus sight smell taste touch hearing Recognition of Unfulfilled Wants : LO2 Recognition of Unfulfilled Wants When a current product isn’t performing properly When the consumer is running out of a product When another product seems superior to the one currently used Information Search : LO2 Information Search Internal Information Search Recall information in memory External Information search Seek information in outside environment Nonmarketing controlled Marketing controlled External Information Searches : LO2 External Information Searches Evoked Set : LO2 Evoked Set Group of brands, resulting from an information search, from which a buyer can choose. Evaluation of Alternativesand Purchase : LO2 Evaluation of Alternativesand Purchase Purchase : LO2 Purchase REVIEW LEARNING OUTCOMEConsumer Decision-Making Process : REVIEW LEARNING OUTCOMEConsumer Decision-Making Process LO2 Postpurchase Behavior : Explain the consumer’s postpurchase evaluation process Postpurchase Behavior LO3 Cognitive Dissonance : LO3 Cognitive Dissonance Postpurchase Behavior : LO3 Postpurchase Behavior Consumers can reduce dissonance by: Seeking information that reinforces positive ideas about the purchase Avoiding information that contradicts the purchase decision Revoking the original decision by returning the product Consumer Buying Decisions andConsumer Involvement : Identify the types of consumer buying decisions and a discuss the significance a of consumer involvement Consumer Buying Decisions andConsumer Involvement LO4 Consumer Buying Decisions andConsumer Involvement : LO4 Consumer Buying Decisions andConsumer Involvement Five Factors Influencing Decisions : LO4 Five Factors Influencing Decisions Continuum of Consumer Buying Decisions : LO4 Continuum of Consumer Buying Decisions Routine Response Behavior : LO4 Routine Response Behavior Little involvement in selection process Frequently purchased low cost goods May stick with one brand Buy first/evaluate later Quick decision Limited Decision Making : LO4 Limited Decision Making Low levels of involvement Low to moderate cost goods Evaluation of a few alternative brands Short to moderate time to decide Extensive Decision Making : LO4 Extensive Decision Making High levels of involvement High cost goods Evaluation of many brands Long time to decide May experience cognitive dissonance Factors Determining the Level of Consumer Involvement : LO4 Factors Determining the Level of Consumer Involvement Marketing Implications of Involvement : LO4 Marketing Implications of Involvement REVIEW LEARNING OUTCOME Consumer Buying Decisions and Consumer Involvement : REVIEW LEARNING OUTCOME Consumer Buying Decisions and Consumer Involvement LO4 Cultural Influences on Consumer Buying Decisions : Identify and understand the cultural factors that affect consumer buying decisions Cultural Influences on Consumer Buying Decisions LO5 Factors Influencing Buying Decisions : LO5 Factors Influencing Buying Decisions Culture : LO5 Culture Components of Culture : LO5 Components of Culture Culture is. . . : LO5 Culture is. . . Value : Value LO5 Subculture : Subculture LO5 Social Class : LO5 Social Class Social Class Measurements : LO5 Social Class Measurements The Impact of Social Class on Marketing : LO5 The Impact of Social Class on Marketing Indicates which medium to use for advertising Helps determine the best distribution for products REVIEW LEARNING OUTCOME Cultural Factors : REVIEW LEARNING OUTCOME Cultural Factors LO5 Social Influences on Consumer Buying Decisions : Identify and understand the social factors that affect consumer buying decisions Social Influences on Consumer Buying Decisions LO6 Social Influences : LO6 Social Influences Reference Group : LO6 Reference Group Reference Groups : LO6 Reference Groups Influences of Reference Groups : LO6 Influences of Reference Groups They serve as information sources and influence perceptions. They affect an individual’s aspiration levels. Their norms either constrain or stimulate consumer behavior. Opinion Leaders : LO6 Opinion Leaders An individual who influences the opinion of others. Opinion Leaders : LO6 Opinion Leaders Family : LO6 Initiators Influencers Decision Makers Purchasers Consumers Purchase Process Roles in the Family Family Relationships among Purchasers and Consumers in the Family : LO6 Relationships among Purchasers and Consumers in the Family REVIEW LEARNING OUTCOME Social Factors : REVIEW LEARNING OUTCOME Social Factors LO6 Individual Influences onConsumer Buying Decisions : Identify and understand the individual factors that affect consumer buying decisions Individual Influences onConsumer Buying Decisions LO7 Individual Influences : LO7 Individual Influences Psychological Influences onConsumer Buying Decisions : Identify and understand the psychological factors that affect consumer buying decisions Psychological Influences onConsumer Buying Decisions LO8 Psychological Influences : LO8 Psychological Influences Perception Motivation Learning Beliefs & Attitudes Perception : LO8 Perception Perception : LO8 Perception Perception : LO8 Perception Marketing Implications of Perception : LO8 Marketing Implications of Perception Important attributes Price Brand names Quality and reliability Threshold level of perception Product or repositioning changes Foreign consumer perception Motivation : LO8 Motivation Maslow’s Hierarchy of Needs : LO8 Maslow’s Hierarchy of Needs Types of Learning : LO8 Types of Learning Stimulus Generation and Discrimination : LO8 Stimulus Generation and Discrimination Beliefs and Attitudes : LO8 Beliefs and Attitudes Changing Attitudes : LO8 Changing Attitudes Change beliefs about the brand’s attributes Change the relative importance of these beliefs Add new beliefs REVIEW LEARNING OUTCOME : REVIEW LEARNING OUTCOME LO8 Psychological Factors You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Consumer Decision Making aSGuest64366 Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 2673 Category: Business & Fin.. License: All Rights Reserved Like it (2) Dislike it (0) Added: September 03, 2010 This Presentation is Public Favorites: 2 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Slide 1: Consumer Decision Making The Importance of UnderstandingConsumer Behavior : Explain why marketing managers should understand consumer behavior The Importance of UnderstandingConsumer Behavior LOI Consumer Behavior : Consumer Behavior REVIEW LEARNING OUTCOMEUnderstanding Consumer Behavior : REVIEW LEARNING OUTCOMEUnderstanding Consumer Behavior LOI The Consumer Decision-Making Process : Analyze the components of the consumer decision-making process The Consumer Decision-Making Process LO2 Consumer Decision-Making Process : Consumer Decision-Making Process Consumer Decision-Making Process : LO2 Consumer Decision-Making Process Need Recognition : LO2 Need Recognition Need Recognition : LO2 Need Recognition Stimulus : LO2 Stimulus sight smell taste touch hearing Recognition of Unfulfilled Wants : LO2 Recognition of Unfulfilled Wants When a current product isn’t performing properly When the consumer is running out of a product When another product seems superior to the one currently used Information Search : LO2 Information Search Internal Information Search Recall information in memory External Information search Seek information in outside environment Nonmarketing controlled Marketing controlled External Information Searches : LO2 External Information Searches Evoked Set : LO2 Evoked Set Group of brands, resulting from an information search, from which a buyer can choose. Evaluation of Alternativesand Purchase : LO2 Evaluation of Alternativesand Purchase Purchase : LO2 Purchase REVIEW LEARNING OUTCOMEConsumer Decision-Making Process : REVIEW LEARNING OUTCOMEConsumer Decision-Making Process LO2 Postpurchase Behavior : Explain the consumer’s postpurchase evaluation process Postpurchase Behavior LO3 Cognitive Dissonance : LO3 Cognitive Dissonance Postpurchase Behavior : LO3 Postpurchase Behavior Consumers can reduce dissonance by: Seeking information that reinforces positive ideas about the purchase Avoiding information that contradicts the purchase decision Revoking the original decision by returning the product Consumer Buying Decisions andConsumer Involvement : Identify the types of consumer buying decisions and a discuss the significance a of consumer involvement Consumer Buying Decisions andConsumer Involvement LO4 Consumer Buying Decisions andConsumer Involvement : LO4 Consumer Buying Decisions andConsumer Involvement Five Factors Influencing Decisions : LO4 Five Factors Influencing Decisions Continuum of Consumer Buying Decisions : LO4 Continuum of Consumer Buying Decisions Routine Response Behavior : LO4 Routine Response Behavior Little involvement in selection process Frequently purchased low cost goods May stick with one brand Buy first/evaluate later Quick decision Limited Decision Making : LO4 Limited Decision Making Low levels of involvement Low to moderate cost goods Evaluation of a few alternative brands Short to moderate time to decide Extensive Decision Making : LO4 Extensive Decision Making High levels of involvement High cost goods Evaluation of many brands Long time to decide May experience cognitive dissonance Factors Determining the Level of Consumer Involvement : LO4 Factors Determining the Level of Consumer Involvement Marketing Implications of Involvement : LO4 Marketing Implications of Involvement REVIEW LEARNING OUTCOME Consumer Buying Decisions and Consumer Involvement : REVIEW LEARNING OUTCOME Consumer Buying Decisions and Consumer Involvement LO4 Cultural Influences on Consumer Buying Decisions : Identify and understand the cultural factors that affect consumer buying decisions Cultural Influences on Consumer Buying Decisions LO5 Factors Influencing Buying Decisions : LO5 Factors Influencing Buying Decisions Culture : LO5 Culture Components of Culture : LO5 Components of Culture Culture is. . . : LO5 Culture is. . . Value : Value LO5 Subculture : Subculture LO5 Social Class : LO5 Social Class Social Class Measurements : LO5 Social Class Measurements The Impact of Social Class on Marketing : LO5 The Impact of Social Class on Marketing Indicates which medium to use for advertising Helps determine the best distribution for products REVIEW LEARNING OUTCOME Cultural Factors : REVIEW LEARNING OUTCOME Cultural Factors LO5 Social Influences on Consumer Buying Decisions : Identify and understand the social factors that affect consumer buying decisions Social Influences on Consumer Buying Decisions LO6 Social Influences : LO6 Social Influences Reference Group : LO6 Reference Group Reference Groups : LO6 Reference Groups Influences of Reference Groups : LO6 Influences of Reference Groups They serve as information sources and influence perceptions. They affect an individual’s aspiration levels. Their norms either constrain or stimulate consumer behavior. Opinion Leaders : LO6 Opinion Leaders An individual who influences the opinion of others. Opinion Leaders : LO6 Opinion Leaders Family : LO6 Initiators Influencers Decision Makers Purchasers Consumers Purchase Process Roles in the Family Family Relationships among Purchasers and Consumers in the Family : LO6 Relationships among Purchasers and Consumers in the Family REVIEW LEARNING OUTCOME Social Factors : REVIEW LEARNING OUTCOME Social Factors LO6 Individual Influences onConsumer Buying Decisions : Identify and understand the individual factors that affect consumer buying decisions Individual Influences onConsumer Buying Decisions LO7 Individual Influences : LO7 Individual Influences Psychological Influences onConsumer Buying Decisions : Identify and understand the psychological factors that affect consumer buying decisions Psychological Influences onConsumer Buying Decisions LO8 Psychological Influences : LO8 Psychological Influences Perception Motivation Learning Beliefs & Attitudes Perception : LO8 Perception Perception : LO8 Perception Perception : LO8 Perception Marketing Implications of Perception : LO8 Marketing Implications of Perception Important attributes Price Brand names Quality and reliability Threshold level of perception Product or repositioning changes Foreign consumer perception Motivation : LO8 Motivation Maslow’s Hierarchy of Needs : LO8 Maslow’s Hierarchy of Needs Types of Learning : LO8 Types of Learning Stimulus Generation and Discrimination : LO8 Stimulus Generation and Discrimination Beliefs and Attitudes : LO8 Beliefs and Attitudes Changing Attitudes : LO8 Changing Attitudes Change beliefs about the brand’s attributes Change the relative importance of these beliefs Add new beliefs REVIEW LEARNING OUTCOME : REVIEW LEARNING OUTCOME LO8 Psychological Factors