Consumer buying behavior

Slides:

Advertisements

Similar presentations

Customer Buying Behavior

Advertisements

Class 16 Consumer Decision Making

Indicator 2.01 – Acquire the foundational knowledge of selling and understand its nature and scope. Marketing.

Chapter consumer behavior five McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 7. To Examine the Importance of Identifying, Understanding, and Appealing to Customers To Enumerate & Describe Segmentation Factors and their.

Chapter consumer behavior six Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent.

Functional needs pertain to the performance of a product or service.

CHAPTER CONSUMER BEHAVIOR 05 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

CHAPTER Day 8 BUS 222. Copyright 2005 Prentice HallCh 1 -2 Agenda Class roll call Questions? Assignment 2 Posted – Due Feb 16 – Marketing Assignment 2.pdf.

 Customer behavior: a broad term that covers both individual consumers who buy goods and services for their own use and organizational buyers who purchase.

Consumer Behavior in Services

1 Buying Behaviour. 2 Types of consumer behaviour  Routine response behaviour  Limited decision making  Extensive decision making.

Chapter 4 Customer Buying Behavior Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

Learning Goals Learn the consumer market and construct model of consumer buyer behavior Know the four factors that influence buyer behavior Understand.

Elements of Consumer Behavior, and Defining the Market Hierarchy

Factors in B2B Buying Behavior Process Stages; see diagram below Players: roles in “Buying Center” gatekeepers, users, influencers, deciders, purchasers.

Decision Making I: Need Recognition and Search

Consumer Buying Behavior, Search, and Factors Affecting External Search Effort.

3.02 Understand buying behaviors.

Types of Retailers.

Analyzing Consumer Markets. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 2 of 31 Possible Questions 1.How do consumer characteristics.

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

ANALYZING CONSUMER MARKETS AND BUYER BEHAVIOR

6 CONSUMER BEHAVIOR Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of.

Retailing Management 8e© The McGraw-Hill Companies, All rights reserved CHAPTER 2CHAPTER 1 CHAPTER 4 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill.

Retrieval and Problem Solving Orientations Problem Solving Model Problem Recognition External Search Evaluation of Alternatives Choice Extensive Problem.

© Pearson Education Limited 2003 OHT 8.1 Individual decision-making.

1 Brand Decision Process Speaking to the Head and the Heart To acquire, retain, and grow customers, companies need to know how customers make brand decisions.

1 Copyright © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole.

Buyer Behaviour Reading: Chapter 5 MKTG 201: First Semester 2010 Overview Influences on Consumers Buying Behaviour The Consumer Decision Making Process.

Copyright Atomic Dog Publishing, 2002 Chapter 2 Problem Recognition & Information Search.

CONSUMER BEHAVIOR CHAPTER 5. Problem Recognition: Perceiving a Need Information Search: Seeking Value Alternative Evaluation: Assessing Value  Evaluative.

Marketing Essentials Section 12.1 Selling

Individual Decision Making Various type of Consumer Problem Solving By Levi Spencer Caleb Pierce.

Consumer Markets and Consumer Buying Behavior

5-1 Chapter Objectives LO1 Describe the steps a customer goes through when buying a product or service LO2 Discuss what determines how much time consumers.

Consumer Markets and Consumer Buying Behavior

Chapter 2 Consumer Behavior.

Chapter 5- slide 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall I t ’s good and good for you Chapter 3 Consumer Markets and Consumer.

Consumer Markets and Consumer Buyer Behaviour. Session Outline  What is Consumer Buyer Behaviour  Model of Consumer Behaviour  Characteristics Affecting.

Customer Buying Behavior Buying Process :- begins when customers recognize an unsatisfied need. 3 types of customer decision-making processes 1.Extended.

Consumer Buying Behavior. Five Step Model of the Buying process Need arousal Collection of information Evaluation of information Purchase Post-purchase.

Decision-Making I: Need Recognition & Search Chapter 11.

Understanding The World Of Retailing Chapter 1. What Is Retailing..? Retailing is the set of business activities that adds value to the products and services.

Marketing Strategy & Consumer Behavior Unit 4. Planning a Marketing Strategy  A plan that identifies how a company expects to achieve its goals is known.

Copyright © 2015 Pearson Education Chapter 1. Copyright © 2015 Pearson EducationSlide 2 of 26 Chapter 1 Learning Objectives 1.1 To understand the evolution.

1 Chapter 5 Consumer and Business Buyer Behavior.

Chapter 17:Outlet Seldection and Purchase Perceived risk associated with purchases Social cost Financial cost Time cost Effort cost Physical cost.

Consumer Behavior.

Customer Buying Behavior

Welcome to Marketing Management

46h April 2012 Promotion – and Mix.

Problem Recognition & Information Search

“Understanding Consumers”

Consumer Markets and Consumer Buyer Behavior

Consumer Buying Behavior

Consumer Decision Process (CDP)

Chapter 6 Consumer Behavior

Thaksin University Consumer decision making process

Identifying and Understanding Consumers Chapter 7.

Buyer Behaviour.

Consumer Decision Processes

Consumer Markets and Consumer Buyer Behavior

CONSUMER MARKETS AND CONSUMER BUYING BEHAVIOR

Consumer Markets and Consumer buyer behavior

Consumer Behavior Week #2

Chapter 11 Decision Making I: Need Recognition and Search

Consumer Search and Evaluation

Customer Decision Making

Presentation transcript:

Consumer buying behavior

Three types of decision making process Extended problem solving- A purchase decision process in which customers devote considerable time and effort to analyze the alternatives. Undertaken in case of Financial risk Physical risk Social risk

When the decision is going to satisfy an important need Little knowledge Usually in this type of problem solving-people go beyond their personal knowledge and consult relatives, friends, internet, retailers.

Limited problem solving Moderate amount of effort and time Risk is moderate and some prior experience Rely more on personal knowledge Our majority decisions come under this category Impulse buying- buying decision made on spot after seeing the merchandize. 70% of supermarket purchase is impulse buying

Habitual decision making Requires no conscious effort Brand loyalty or store loyalty Usually reluctant to switch if the favorite brand is not available. Brand loyalty both an opportunity and problem for retailers

The buying process Types of need Need recognition- recognize an unsatisfied need. Types of need Functional need- also called rational need Psychological need- also called emotional need, increases with income

Information search Characteristic of need Characteristic of customer Competing brands Time pressure Role of retailer

evaluation OF ALTERNATIVES YOU USUALLY EVALUATE THE PRODUCT AND THE RETAILER TOGETHER

PURCHASE THE MERCHANDIZE

POST PURCHASE EVALUATION EVALUATES IF THE PURCHASE WAS SATISFACTORY OR UNSATISFACTORY SATISFACTION IS WHEN THE POST CONSUMPTION EVALUATION MEETS OR EXCEEDSTHE CUSTOMER EXPECTATION. THIS BECOMES A PART OF CUSTOMERS INTERNAL INFORMATION THAT EFFECTSFUTURE STORE AND PRODUCT DECISION. REINFORCEMENT OF SATISFACTION CAN LEAD TO STORE LOYALTY.