Consumer Decision Making

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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

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