1. MGT301 Principles of Marketing
Lecture-14

2. Summary of Lecture-13

3. Marketing Research (cont..)
Consumer Market-understanding the consumer

4. Step-3 Implementing the Research Plan
Step-4 Interpretation and Reporting of Findings

5. Consumer Market-understanding the consumer
All individuals and households who buy or acquire goods and services for personal consumption

6. Model of Consumer Behavior “Stimulus-Response”

7. Consumer Buying Behavior (cont..)
Today’s Topics
Consumer Buying Behavior (cont..)

8. Marketing and Other Stimuli Buyer’s Response
Product Price Place Promotion
Economic Technological Political Cultural
Buyer’s Black Box
”what” & “how”
Buyer characteristics affecting consumer behavior
Buyer’s decision process
Buyer’s Response
Purchase timing Purchase quantity
Product choice Brand choice Dealer choice

9. Stimulus Response Model
Marketing and other stimuli enter the buyer’s “black box” and produce certain choice/purchase responses.
Marketers must figure out what is inside of the buyer’s “black box” and how stimuli are changed to responses.

10. Model of Buyer Behavior
Marketing & other stimuli
Marketing
Product
Price
Place
Promotion
Other
Economic
Technological
Political
Cultural
Buyer’s Black Box
Buyer Characteristics
Buyer Decision Process
Buyer Responses
Product Choice
Brand Choice
Dealer Choice
Purchase Timing
Purchase Amount

11. Characteristics Affecting Consumer Behavior
Culture
Sub-
culture
Social
class
Cultural
Social
Reference
groups
Family
Roles
and
status
Personal
Age and
life-cycle
Occupation
Economic
situation
Lifestyle
Personality
and
self-concept
Psycho-
logical
Motivation
Perception
Learning
Beliefs and
attitudes
Buyer

12. Cultural
Social
Personal
Psychological

13. 1. Cultural

14. Cultural a. Culture b. Sub-Culture c. Social Class
Set of values norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.

15. b. Subculture
A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group.

16. c. Social Class
A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms.

17. 2. Social

18. Social
a. Reference Groups
b. Family
c. Role & Status

19. a. Reference Group

20. Reference Group
A group in society that influences an individual’s purchasing behavior.

21. Implications of Reference Groups

22. They serve as information sources and influence perceptions
They affect an individual’s aspiration levels
Their norms either constrain or stimulate consumer behavior

23. influences the opinion of others.
Opinion Leaders
An individual who
influences the opinion of others.

24. Purchase Roles in the Family
b. Family
Purchase Roles in the Family
Initiators
Influencers
Decision-Makers
Purchasers
Consumers
Children Influence
Purchase Decisions

25. c. Roles and Status

26. Enough for today. . .

27. Consumer Buying Behavior (cont..)
Summary
Consumer Buying Behavior (cont..)

28. Marketing and Other Stimuli Buyer’s Response
Product Price Place Promotion
Economic Technological Political Cultural
Buyer’s Black Box
”what” & “how”
Buyer characteristics affecting consumer behavior
Buyer’s decision process
Buyer’s Response
Purchase timing Purchase quantity
Product choice Brand choice Dealer choice

29. Characteristics Affecting Consumer Behavior
Culture
Sub-
culture
Social
class
Cultural
Social
Reference
groups
Family
Roles
and
status
Personal
Age and
life-cycle
Occupation
Economic
situation
Lifestyle
Personality
and
self-concept
Psycho-
logical
Motivation
Perception
Learning
Beliefs and
attitudes
Buyer

30. Next….
Understanding the consumer behavior (cont..)

31. MGT301 Principles of Marketing
Lecture-14