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Consumer Markets and Buying Behavior
Chapter 4 Chapter One Marketing’s Role in the Global Economy Consumer Markets and Buying Behavior For use only with Perreault and McCarthy texts. © 2002 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
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Marketing’s Role in the Global Economy
Chapter Goals Chapter One Marketing’s Role in the Global Economy Factors used to explain consumer behavior Consumer demographic changes Consumers decision-making Influences affecting consumers’ decisions For use only with Perreault and McCarthy texts. © 2002 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
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for their own personal or
The Consumer Market ULTIMATE CONSUMERS Buy goods and services for their own personal or household use
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Geographic Distribution
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Geographic Distribution
Rural 25% of the Population Growing Deconcentration Urban 75% of the Population Metropolitan Areas: MSA PMSA CMSA Real Growth Economic, Racial, Ethnic Implications Suburban Population
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Consumer Demographics
Age Much Income and financial assets held by older group Family form over time is a major determinant of consumer behavior Family Life Cycle Education, Income Majority are well-educated and prosperous while 12% live below poverty Race, Ethnicity African Americans, Hispanics, Asians
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Family Life Cycle Stages
Nine stages with different buying behavior Bachelor Young Married Full Nest I Single Parents Divorced and Alone Middle-aged Married Full Nest II Empty Nest Older Single
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Consumer Buying-Decision Process
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Consumer Buying-Decision Process
Loyalty Involvement Impulse Buying
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Consumer Buying-Decision Process
Need recognition Identification of alternatives Evaluation of Purchase and related decisions Postpurchase behavior
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Information and Purchase Decisions
Commercial sources Social sources
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Social Influences Culture Subcultures Social class Reference groups
Families and Households
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Psychological Influences
Motivation Perception Learning Personality Attitude
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Maslow’s Hierarchy of Needs
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Perception Selective Perception Selective Attention Selective
Process of receiving, organizing, and assigning meaning to information or stimuli detected by our five senses Selective Perception Selective Attention Selective Distortion Selective Retention
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An individual’s pattern of traits that influence
Personality An individual’s pattern of traits that influence behavioral responses Psychoanalytic Theory Hidden buying motives Dreams, hopes, fantasies, fears Self-concept Actual Ideal
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Attitudes Characteristics Learned predisposition to respond to an
object in a consistently favorable or unfavorable way Characteristics Learned Object Direction Intensity Stable Generalizable
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Situational Factors When consumers buy Where consumers buy
Why consumers buy Conditions under which consumers buy
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Situational Influences
Surroundings Time Consumer Moods and Motives Terms
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Marketing’s Role in the Global Economy
Key Terms and Concepts Chapter One Marketing’s Role in the Global Economy Ultimate consumer Metropolitan Statistical Area (MSA) Primary Metropolitan Statistical Area (PMSA) Consolidated Metropolitan Statistical Area (CMSA) Demographics Family life-cycle stage Consumer buying decision process Level of Involvement Loyalty Impulse buying Patronage buying motives Postpurchase cognitive dissonance Commercial information environment Social information environment Culture Subculture Social class Reference groups For use only with Perreault and McCarthy texts. © 2002 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
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Marketing’s Role in the Global Economy
Key Terms and Concepts Chapter One Marketing’s Role in the Global Economy Family Household Motive Maslow’s need hierarchy Perception Selective perception Learning Stimulus-response theory Personality Psychoanalytic theory Self-concept Attitude Situational influence For use only with Perreault and McCarthy texts. © 2002 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
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