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