Principles of Marketing Chapter 5 PDF

Principles of Marketing Kotler and Armstrong Chapter 5: Insert Textbook Consumer Cover Markets and Image Buyer Behavior Copyright © 2016 Pearson Education,...

Principles of Marketing Kotler and Armstrong Chapter 5: Insert Textbook Consumer Cover Markets and Image Buyer Behavior Copyright © 2016 Pearson Education, 5-1 Inc. Consumer Markets and Buyer Behavior Copyright © 2016 Pearson Education, Inc. 5-2 Consumer Markets and Buyer Behavior Learning Objectives Objective 1: Define the consumer market and construct a simple model of consumer buyer behavior. Objective 2: Name the four major factors that influence consumer buyer behavior. Copyright © 2016 Pearson Education, Inc. 5-3 Consumer Markets and Buyer Behavior Learning Objectives Objective 3: List and define the major types of buying decision behavior and the stages in the buyer decision process. Objective 4: Describe the adoption and diffusion process for new products. Copyright © 2016 Pearson Education, Inc. 5-4 Consumer Markets and Buyer Behavior Learning Objective 1 Define the consumer market and construct a simple model of consumer buyer behavior. Model of Consumer Behavior Copyright © 2016 Pearson Education, Inc. 5-5 Consumer Markets and Buyer Behavior Consumer buyer behavior is the buying behavior of final consumers—individuals and households that buy goods and services for personal consumption. Consumer markets are made up of all the individuals and households that buy or acquire goods and services for personal consumption. Copyright © 2016 Pearson Education, Inc. 5-6  Model of Consumer Behavior Figure 5.1 The Model of Buyer Behavior Copyright © 2016 Pearson Education, Inc. 5-7 Consumer Markets and Buyer Behavior Learning Objective 1 Define the consumer market and construct a simple model of consumer buyer behavior. Model of Consumer Behavior Copyright © 2016 Pearson Education, Inc. 5-8 Consumer Markets and Buyer Behavior Learning Objective 2 Name the four major factors that influence consumer buyer behavior. Characteristics Affecting Consumer Behavior Copyright © 2016 Pearson Education, Inc. 5-9 Characteristics Affecting Consumer Behavior Cultural Factors Factors Influencing Consumer Behavior Copyright © 2016 Pearson Education, Inc. 5-10 Characteristics Affecting Consumer Behavior Cultural Factors Culture is the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions. Copyright © 2016 Pearson Education, 5-11 Inc.  Characteristics Affecting Consumer Behavior Cultural Factors Subcultures are groups of people within a culture with shared value systems based on common life experiences and situations. Copyright © 2016 Pearson Education, Inc. 5-12  Characteristics Affecting Consumer Behavior Cultural Factors Social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. Measured as a combination of occupation, income, education, wealth, and other variables Copyright © 2016 Pearson Education, Inc. 5-13 Characteristics Affecting Consumer Behavior Cultural Factors Major American Social Classes Upper Class Middle Class Working Class Lower Class Copyright © 2016 Pearson Education, Inc. 5-14 Characteristics Affecting Consumer Behavior Social Factors Groups and Social Networks Membersh Aspiration Reference ip Groups al Groups Groups Groups Groups that Groups with form a direct an comparison influence individua or and to l wishes reference in which a forming to belong attitudes or person belongs to behavior Copyright © 2016 Pearson Education, Inc. 5-15  Characteristics Affecting Consumer Behavior Social Factors Groups and Social Networks Online social networks Buzz marketing Social media sites Virtual worlds Word of mouth Opinion leaders Copyright © 2016 Pearson Education, Inc. 5-16 Characteristics Affecting Consumer Behavior Social Factors Family is the most important consumer-buying organization in society. Role and status can be defined by a person’s position in a group. Copyright © 2016 Pearson Education, Inc. 5-17 Characteristics Affecting Consumer Behavior Personal Factors Age and life-cycle stage PRIZM Lifestage Groups system 66 segments 11 life-stage groups Copyright © 2016 Pearson Education, Inc. 5-18 Characteristics Affecting Consumer Behavior Personal Factors Occupation affects the goods and services bought by consumers. Economic situations include Spendin trends in: Personal g income Saving Interest Copyright © 2016 Pearson Education, Inc. 5-19  Characteristics Affecting Consumer Behavior Personal Factors Lifestyle is a person’s pattern of living as expressed in his or her psychographics. Copyright © 2016 Pearson Education, Inc. 5-20  Characteristics Affecting Consumer Behavior Personal Factors Personality refers to the unique psychological characteristics that distinguish a person or group. Copyright © 2016 Pearson Education, Inc. 5-21  Characteristics Affecting Consumer Behavior Personal Factors Brand Personality Traits Sincerity Excitement CompetenceCopyright © 2016 Pearson Education, Sophistication Inc. 5-22  Characteristics Affecting Consumer Behavior Psychological Factors Motivation Perception Learning Beliefs and attitudes Copyright © 2016 Pearson Education, Inc. 5-23  Characteristics Affecting Consumer Behavior Psychological Factors A motive (or drive) is a need that is sufficiently pressing to direct the person to seek satisfaction of the need. Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations. Copyright © 2016 Pearson Education, Inc. 5-24  Characteristics Affecting Consumer Behavior Psychological Factors Figure 5.4 - Maslow’s Hierarchy of Needs Copyright © 2016 Pearson Education, Inc. 5-25  Characteristics Affecting Consumer Behavior Psychological Factors Perception is the process by which people select, organize, and interpret information to form a meaningful picture of the world. Perceptual Processes Selective Selective attention distortion Selective Copyright © 2016 Pearson Education, retention Inc. 5-26  Characteristics Affecting Consumer Behavior Psychological Factors Selective attention is the tendency for people to screen out most of the information to which they are exposed. Selective distortion is the tendency for people to interpret information in a way that will support what they already believe. Selective retention is the tendency to remember good points made about a brand they favor and forget good points about competing brands. Copyright © 2016 Pearson Education, Inc. 5-27  Characteristics Affecting Consumer Behavior Psychological Factors Learning is the change in an individual’s behavior arising from experience and occurs through the interplay of: Drives Stimuli Cues Responses Copyright © 2016 Pearson Education, Inc. 5-28  Characteristics Affecting Consumer Behavior Psychological Factors A belief is a descriptive thought that a person has about something based on: knowledge opinion faith An attitude describes a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea. Copyright © 2016 Pearson Education, Inc. 5-29 Consumer Markets and Buyer Behavior Learning Objective 2 Name the four major factors that influence consumer buyer behavior. Characteristics Affecting Consumer Behavior Copyright © 2016 Pearson Education, Inc. 5-30 Consumer Markets and Buyer Behavior Learning Objective 3 List and define the major types of buying decision behavior and the stages in the buyer decision process. Types of Buying Decision Behavior The Buyer Decision Process Copyright © 2016 Pearson Education, Inc. 5-31 Types of Buying Decision Behavior Complex buying behavior Dissonance-reducing buying behavior Habitual buying behavior Variety-seeking buying behavior Copyright © 2016 Pearson Education, Inc. 5-32 Types of Buying Decision Behavior FIGURE | 5.5 Four Types of Buying Behavior Copyright © 2016 Pearson Education, Inc. 5-33  The Buyer Decision Process FIGURE | 5.6 Buyer Decision Process Copyright © 2016 Pearson Education, Inc. 5-34  The Buyer Decision Process Need Recognition Need recognition is the first stage of the buyer decision process, in which the consumer recognizes a problem or need triggered by: Internal stimuli External stimuli Copyright © 2016 Pearson Education, Inc. 5-35  The Buyer Decision Process Information Search Information search is the stage of the buyer decision process in which the consumer is motivated to search for more information. Sources of information: Personal sources Commercial sources Public sources Experiential sources Copyright © 2016 Pearson Education, Inc. 5-36  The Buyer Decision Process Evaluation of Alternatives Alternative evaluation is the stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set. Copyright © 2016 Pearson Education, Inc. 5-37  The Buyer Decision Process Purchase Decision Purchase decision is the buyer’s decision about which brand to purchase. The purchase intention may not be the purchase decision due to: Attitudes of others Unexpected situational factors Copyright © 2016 Pearson Education, Inc. 5-38  The Buyer Decision Process Postpurchase Behavior Postpurchase behavior is the stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction. Copyright © 2016 Pearson Education, Inc. 5-39  The Buyer Decision Process Postpurchase Behavior Cognitive dissonance is buyer discomfort caused by postpurchase conflict. Copyright © 2016 Pearson Education, Inc. 5-40 Consumer Markets and Buyer Behavior Learning Objective 3 List and define the major types of buying decision behavior and the stages in the buyer decision process. Types of Buying Decision Behavior The Buyer Decision Process Copyright © 2016 Pearson Education, Inc. 5-41 Consumer Markets and Buyer Behavior Learning Objective 4 Describe the adoption and diffusion process for new products. The Buyer Decision Process for New Products Copyright © 2016 Pearson Education, Inc. 5-42 The Buyer Decision Process for New Products The adoption process is the mental process an individual goes through from first learning about an innovation to final regular use. Stages in the adoption process include: Aw Eva Int Ad are lua Tria ere opt nes tio l st ion s n Copyright © 2016 Pearson Education, Inc. 5-43 The Buyer Decision Process for New Products Individual Differences in Innovativeness Innovators Early Adopters Early Mainstream Late Mainstream Lagging Adopters Copyright © 2016 Pearson Education, Inc. 5-44 The Buyer Decision Process for New Products Individual Differences in Innovativeness FIGURE | 5.7 Adopter Categories Based on Relative Time of Adoption of Innovations Copyright © 2016 Pearson Education, Inc. 5-45 The Buyer Decision Process for New Products Influence of Product Characteristics on Rate of Adoption Relative Compatibility advantage Complexity Divisibility Copyright © 2016 Pearson Education, Inc. 5-46 Consumer Markets and Buyer Behavior Learning Objective 4 Describe the adoption and diffusion process for new products. The Buyer Decision Process for New Products Copyright © 2016 Pearson Education, Inc. 5-47 Principles of Marketing PowerPoint Copyright Page Copyright © 2016 Pearson Education, 5-48 Inc.