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Chapter Five:

Final Consumers and Their Buying Behavior www.mhhe.com/fourps For use only with Perreault and McCarthy texts. © 2003 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Chapter Five

When we finish this lecture you should:

1 . Know how income affects consumer behavior and spending patterns. 2 . Understand the economic buyer model of buyer behavior. 3. Understand how psychological variables affect an individual’s buying behavior. 4. Understand how social influences affect an individual’s and household’s buying behavior. 5. See why the purchase situation has an effect on consumer behavior. 6. Know how consumers use problem-solving processes. 7. Have some feel for how a consumer handles all the behavioral variables and incoming stimuli. © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin When we finish this lecture you should

A Luxury Item:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin A Luxury Item +

Exhibit 5-1:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Income Dimensions of the US Market Exhibit 5-1

Appealing to Higher Income Consumers:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Appealing to Higher Income Consumers +

The Behavioral Sciences Help You Understand the Buying Process:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin The Behavioral Sciences Help You Understand the Buying Process +

Exhibit 5-2:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin How We Will View Consumer Behavior Exhibit 5-2

Psychological Influences within an Individual:

Wants Wants Needs Needs © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Psychological Influences within an Individual Drives Consumers seek benefits to match needs and wants!

Several Needs at the Same Time:

Physiological Needs Several Needs at the Same Time © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Safety Needs Social Needs Personal Needs

Interactive Exercise: Needs:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Interactive Exercise: Needs

Personal Needs:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Personal Needs +

Perception Determines What Consumers See and Feel:

Selective Exposure Selective Perception Selective Exposure Selective Perception © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Perception Determines What Consumers See and Feel Selective Retention

Learning Determines What Response is Likely:

Drive Drive Cues Cues Response Response Learning Determines What Response is Likely © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Reinforcement

Cue:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Cue

Attitudes Relate to Buying:

Attitude : a point of view Belief : an opinion Attitude : a point of view Belief : an opinion Ethical Issues May Arise Ethical Issues May Arise Work With Existing Attitudes Work With Existing Attitudes Need to Understand attitudes & Beliefs Need to Understand Attitudes & Beliefs Attitudes Relate to Buying © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Meeting Expectations Is Important Key Concepts

Personality and Lifestyle Analysis:

Interests Activities Activities Interests Personality and Lifestyle Analysis © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Personality: how people see things Opinions

Exhibit 5-7:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin The Family Life Cycle Exhibit 5-7 +

Family Life Cycle Implications:

Empty Nesters Empty Nesters Reallocation for teenagers Reallocation for teenagers Acceptance of new ideas Key Issues Acceptance of new ideas Family Life Cycle Implications © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Senior Citizens

Credit Card Use :

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Credit Card Use

Social Influences Affect Consumer Behavior:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Social Influences Affect Consumer Behavior +

Exhibit 5-8:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Social Class Affects Attitudes, Values, & Buying Exhibit 5-8 +

Other Social Influences:

Reference Groups Reference Groups Opinion Leaders Opinion Leaders Culture Other Social Influences © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

Ethnic Dimensions of the US Market:

High Growth Rate High Growth Rate Ethnic Dimensions of the US Market © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Avoid Stereotypes Buy Differently Buy Differently

Appealing to Minority Consumers:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Appealing to Minority Consumers +

Individuals Are Affected by the Purchase Situation:

Purchase Reason Time Available Purchase Reason Time Available Individuals Are Affected by the Purchase Situation © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Physical Surroundings

Consumers Use Problem Solving Processes:

Social Influences Marketing Mixes Psychological Variables Purchase Situation All Other Stimuli Person Making Decision Social Influences Psychological Variables Purchase Situation Consumers Use Problem Solving Processes Need-want Awareness Information Search Set Criteria Decide on Solution Purchase Product Routinized Response Feedback of Information as Attitudes Postpurchase Evaluation Postpone Decision Response

Exhibit 5-10:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Grid of Evaluative Criteria Helps Exhibit 5-10

Three Levels of Problem Solving Are Useful:

Three Levels of Problem Solving Are Useful © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Routinized Response Behavior Low involvement Frequently purchased Inexpensive Little risk Little information Limited Problem Solving Extensive Problem Solving High involvement Infrequently purchased Expensive High risk Much information desired Low involvement High involvement

Limited or Extensive Problem Solving?:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Limited or Extensive Problem Solving? +

Problem Solving is a Learning Process:

Awareness Interest Awareness Interest Evaluation Evaluation Trial Trial Decision Confirmation Decision Problem Solving is a Learning Process Dissonance may set in after the decision! © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

Problem Solving:

© 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Problem Solving

Key Terms:

Discretionary income Economic buyers Economic needs Needs Wants Drive Physiological needs Safety needs Social needs Personal needs Perception Selective exposure © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Key Terms Selective perception Selective retention Learning Cues Response Reinforcement Attitude Belief Expectation Psychographics Lifestyle analysis Empty nesters

Key Terms:

Social class Reference group Opinion leader Culture Extensive problem solving Limited problem solving Routinized response behavior © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Key Terms Low-involvement purchases Adoption process Dissonance

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