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

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Presentation transcript:

Consumer Buying Behavior

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

Shortcomings of the model Consumers withdraw Stages overlap Stages are skipped Several buying decisions occur simultaneously

Step 1: Need Arousal Conscious Unconscious Preconscious

Types of Needs Functional needs Psychological needs –Stimulation –Social –Trends –Status and power –Self-reward Conflicting

Step 2: Information Search Sources of information –Internal vs. external Time spent searching

Step 3: Evaluate alternatives Multi-attribute model –Used to evaluate merchandise –Used to evaluate retailers How retailers can affect this

Step 4:Purchase Increasing the likelihood of purchase –Don’t stock out –Fair return policies –Credit –Convenience –Reduce waiting time

Step 5: post-purchase Satisfaction Dissonance

Types of buying situations Extended problem-solving Limited problem-solving –Impulse purchase Habitual problem solving –Brand loyalty –Store loyalty

Psychological influences on the buying process Perception Learning Attitude Personality

Situational influences on buying behavior Time Surroundings Customer moods and motives

Social influences on buying behavior Family/household –Family decision making –Family life cycle Reference groups Culture –Subculture Social class

Consider: How do these elements affect the buyer’s job? –The buying process –Psychological, social, and situational influences How do these elements factor into the buyer’s role in the organization?