Buyer Behavior Purchase Decisions. Purchase and Consumption Decisions Product purchase decisions Whether or not to buy the product or service? Brand purchase.

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Presentation transcript:

Buyer Behavior Purchase Decisions

Purchase and Consumption Decisions Product purchase decisions Whether or not to buy the product or service? Brand purchase decisions What brand or model to purchase? Outlet purchase decisions What store or outlet to patronize? Payment purchase decisions How to pay for the goods or service?

Decision-Making Processes Extended Decision-Making Homes, cars, insurance, appliances, furniture, medical care, educational programs. Deliberate Choice Process Furnishings, clothes, gifts, small appliances and equipment, personal services. Routine Purchase Process Stock food items, household goods, toiletries, cleaning supplies. Impulse Buying Decisions Small ticket novelties, candy, gum, snack foods, beverages, fast food.

Four Views of Consumer Decisions The Economic View The “rational” consumer with perfect knowledge and accurate judgment of alternatives. The Passive View The consumer buyer submits to the persuasive presentation of marketers and sales people. The Cognitive View The consumer seeks or receives information that is processed to reach a deductive conclusion. The Emotional View The consumer responds to symbols that evoke inner drives, feelings, and mood states.

Product Factors Increasing Information Search Long Interpurchase time Frequent product changes Frequent price changes Volume purchasing High price Many alternatives Much variation

Consumer Factors Increasing Information Search High education High income Up-scale job Under 35 years Low dogmatism Low-risk perceiver High product involvement

Situational Factors Increasing Information Search Experience First-time buyer No past experience Bad past experience Social Acceptability Product is gift Socially visible goods Value-Related Factors Discretionary purchase Mixed product attributes Family disagreement Deviation from referents Ecological danger Conflicting information

Monetary Risk The chance the product or service will not perform its function or serve its purpose. Functional Risk The chance the product or service will not perform its function or serve its purpose. Physical Risk The chance the product or service will injure or damage person or property. Social Risk The chance the goods will embarrass or humiliate consumers or cause rejection. Psychological Risk The chance the purchase will lead to feelings of weakness, stupidity, or self-indulgence. Five Forms of Purchase Risk

Determinants of Response to Risk Risk Capital What the buyer can afford to loose without experiencing serious harm or catastrophic consequences. Consumers’ Vulnerability The availability or lack of a particular type of risk capital possessed by the consumer. Risk Inherent in Product The attributes or characteristics of the product that intensify a particular type of consumer risk. Alleviation Methods The means by which the marketer and/or the consumer can reduce or manage the perceived risk.