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Understanding Consumer Buying Behavior

Chapter 5 of MKT305 focuses on consumer behavior and the factors influencing the consumer decision process, including economic needs, perceptions of risk, and social influences. It outlines the stages of the buying decision process, from needs awareness to post-purchase evaluation, and discusses the impact of attitudes and social class on consumer choices. The chapter also highlights the role of marketers in understanding and predicting consumer behavior through various models and analytics.

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Quỳnh Anh Phạm
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31 views17 pages

Understanding Consumer Buying Behavior

Chapter 5 of MKT305 focuses on consumer behavior and the factors influencing the consumer decision process, including economic needs, perceptions of risk, and social influences. It outlines the stages of the buying decision process, from needs awareness to post-purchase evaluation, and discusses the impact of attitudes and social class on consumer choices. The chapter also highlights the role of marketers in understanding and predicting consumer behavior through various models and analytics.

Uploaded by

Quỳnh Anh Phạm
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

MKT305

Consumers
and Their
Buying
Behavior

Chapter 5

John Weiss
Learning
Objectives
By the end of this section, you will:
• Understand what factors influence
the consumer decision process
• Explain how characteristics of the
purchase situation influence
consumer behavior.
• Explain the process by which
consumers make buying decisions.
• Understand important consumer
behavior terms.
Consumer Behavior for Marketing Strategy Planning
A Model of Influences on Consumer Behavior
Perception is
processing of
information
inputs
•Selects
•Organizes
•Interprets

•Break through the


perceptions
Economic
Needs are a
Function of:

• Type of Buyer (“economic buyer”)


• Amount of Discretionary Income
• Consumer Confidence (state of the
economy)
• Consumer Needs v. Consumer
Wants
• Types of Needs
• Physiological v. Psychological
• Desire for . . . V. Freedom from .
..
Functional Risk

Physical Risk
Perceptio
ns of Financial Risk
Consumer
Risk Social Risk

Psychological Risk
How Do You and I
Reduce Consumer
Risk?
We Buy a More We Stay Loyal to a
Expensive Model Brand

We Seek More We Trust a Store


Information (Image)

We Seek Reassurance
We Trust Major
(Guarantees,
Brands
Reviews)
A few key
points on
Attitudes

• Attitude = A consumer’s point of


view toward “something”
• They are important because they
affect learning and decisions
• Beliefs (subjective knowledge)
strongly shape attitudes
• Negative attitudes are very hard to
change
• Attitudes + beliefs = expectations
• “Expectation disconfirmation
theory”
A Bit More Detail:
Social Influences

• Reference Groups:
• Aspirational Groups – desire to be “like” in
consumption decisions, ASPIRE TO BE A
PARTNER
• Associative Groups – realistic reflections of
“you”,
• Dissociative Groups – desire not to be “like”

• Opinion Leaders – Influence product category


and brand purchase decisions
• Social Media Influencers – Amplify the voices of
opinion leaders
A Bit More Detail:
Social Class
• Measuring Social Class:
• Occupation
• Education
• Type of Housing
• Location of Housing

• “Middle Class” – buy different products and brands


even though price and availability might be similar?
Problem Solving Continuum
Expanded Model of Consumer Behavior
Needs Awareness – Tracking
mileage (shoes, cars, equipment)

Marketer
Information Search – Tracking
s are search behavior and prompting with
Using offers online
“Predicti
Alternative Identification –
ve Recommendations based on past
Analytics behavior
” More Post-Purchase – Noticing a decline
in usage or repeat purchases
What happens when
we face a new
consumption task?

• The Adoption Process


• Awareness – don’t know it exists or can
solve one’s problem
• Interest – want to at least gather
information
• Evaluation – mental trials and thinking
about personal situation
• Trial – experiment with use, often with
limited commitment
• Decision – yes or no, adopt or reject
• Confirmation – dissonance and/or looking
for reinforcement
Modeling/Predicting
Psychological Influences
Compensatory
Models

Noncompensatory
Models

Heuristics
Why do we buy what we buy?
• Share 1 example of a “routinized” purchase decision
• What were the influencers that caused you to buy this brand the first time?

• Share 1 example of a “limited” or “extensive” purchase decision. What were the influencers?

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