mm aug 2014 day 5
TRANSCRIPT
Marketing – Module 2
Consumer Behaviour
• Flying Machine
• Study of how individuals, groups and organizations select, buy, use & dispose of goods, services, ideas or experiences to satisfy their needs and wants
• Factors – Cultural, Social and Personal
Cultural Factor
• Fundamental determinant of a person’s want and behaviour
• Child in US• Child in India• Subculture• Social Stratification
Socio – Economic Classification
Social Factor
• Reference Groups– Membership Groups– Primary Groups– Secondary Groups– Aspirational Groups– Dissociative Groups
• Expose individuals to new behaviors and lifestyles• They Influence attitudes and self concept• Create Pressure for conformity • Opinion Leader
Social Factor
• Family– Family of Orientation
• Parents and Siblings• Orientation towards religion, politics and Economics and a
sense of personal ambition– Family of Procreation
• Spouse and children• Husband wife joint decision making• Increase in the amount of rupee spent• The direct and indirect influence wielded by children
• Roles and Status
Personal Factor
• Age and Stage in the life cycle– Taste in food, clothing and recreation is directly
related to our age– Consumption is shaped by the family life cycle– Critical Life Events or Transitions– Psychological Life-Cycle
• Occupation and Economic Circumstances– Recession
Personal Factor
• Personality and Self-Concept– Brand Personality– Aaker
• Sincerity• Excitement• Competence• Sophistication• Ruggeddness
• Lifestyles and Values
Key Psychological Process
Motivation
• Freud’s Theory
• Maslow’s Theory
• Herzberg’s Theory
Perception
• Selective Attention
• Selective Distortion
• Selective Retention
Learning
• Drive – Strong Internal Stimulus impelling action
• Cues – minor stimuli that determine when, where and how a person responds
• Discrimination – Differences in sets of similar stimuli and can adjust our responses accordingly
EMOTIONS and MEMORY
• STM
• LTM
Consumer Buying Process
Problem Recognition
• Internal Stimulus
• External Stimulus
Information Search
• Information Sources
• Search Dynamics– Total Set– Awareness Set– Consideration Set– Choice set– Decision
Evaluation of Alternatives
• Attributes
• Beliefs and Attitudes
• Expectancy Value Model
Purchase Decision• Heuristics
– Conjunctive Heuristics– Lexicogrpahic Heuristics– Elimination-by-aspects Heuristics
• Intervening Factors– Attitude of others– Unanticipated Situational Factors
• Functional Risk• Physical Risk• Financial Risk• Social Risk• Psychological Risk• Time Risk
Post Purchase Behaviour
• PP Satisfaction
• PP Actions
• PP Uses and Disposal
Types of Consumer Buying Decisions
TYPES OF CONSUMER BUYING DECISIONS
DIFFERENCE BETWEEN BRANDS
HIGH INVOLVEMENT LOW INVOLVEMENT
VERY SIGNIFICANT COMPLEX BUYING BEHAVIOUR
VERIETY / NOVELTY SEEKING BEHAVIOUR
NO SIGNIFICANCEDISSONANCE
REDUCING BEHAVIOUR
HABITUAL BUYING BEHAVIOUR
Organizational Buying vs Household Buying
• Fewer, Larger Buys• Close Supplier Customer Relationship• Professional Purchasing• Multiple Buying Influencers• Multiple Sales Calls• Derived Demand• Inelastic Demand• Fluctuating Demand – Bull Whip Effect• Geographically Concentrated Buyers• Direct Purchases
Buying Situations
• Straight Rebuy
• Modified Rebuy
• New Task
Buying Roles
• Initiators• Users• Influencers• Deciders• Approvers• Buyers• Gatekeepers
Buying Motives• Product Buying Motives
– Emotional Product Buying Motives• Pride, Imitation, Affection, Comfort, Attraction, Ambition, Distinction,
Recreation, Habit – Rational Product Buying Motives
• Safety, Economy, Low Price, Suitability, Quality, Durability, Convenience
• Patronage Buying Motives– Emotional Patronage Buying Motives
• Appearance, Display, Recommendation, Imitation, Prestige, Habit– Rational Patronage Buying Motives
• Convenience, Price, Credit, Services, Efficiency, Choice, Relationship, Reputation
LA FIN