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Analyzing Consumer Markets
CH 6
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What Influences Consumer Behavior?
Cultural Factors Social Factors Personal Factors
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What is Culture? Culture is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions.
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Subcultures Nationalities Religions Racial groups Geographic regions
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Upper uppers Lower uppers Upper middles Middle class Working class
Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers
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Characteristics of Social Classes
Within a class, people tend to behave alike Social class conveys perceptions of inferior or superior position Class may be indicated by a cluster of variables (occupation, income, wealth) Class designation is mobile over time
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Social Factors Reference groups Family Social roles Statuses
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Membership groups Primary groups Secondary groups Aspirational groups
Reference Groups Membership groups Primary groups Secondary groups Aspirational groups Dissociative groups
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What degree of status is associated with various occupational roles?
Roles and Status What degree of status is associated with various occupational roles?
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Age Self- Life cycle concept stage Occupation Lifestyle Wealth Values
Personal Factors Age Self- concept Life cycle stage Occupation Lifestyle Wealth Values Personality
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The Family Life Cycle
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Sincerity Excitement Competence Sophistication Ruggedness
Brand Personality Sincerity Excitement Competence Sophistication Ruggedness
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Lifestyle Influences Multi-tasking Time-starved Money-constrained
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Faysal Bank of Pakistan has extended banking hours for time-pressed executives.
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Figure 6.1 Model of Consumer Behavior
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Key Psychological Processes
Motivation Perception Learning Memory
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Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6-17
Motivation Freud’s Theory Behavior is guided by subconscious motivations Maslow’s Hierarchy of Needs Behavior is driven by the lowest, unmet need Herzberg’s Two-Factor Theory Behavior is guided by motivating and hygiene factors Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd
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Maslow’s Hierarchy of Needs
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Herzberg’s Two-Factor Theory
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Subliminal Perception
Selective Attention Selective Retention Selective Distortion Subliminal Perception
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Figure 6.4 Consumer Buying Process
Problem Recognition Information Search Evaluation Purchase Decision Postpurchase Behavior
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Sources of Information
Personal Commercial Public Experiential
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Figure 6.6 Stages between Evaluation of Alternatives and Purchase
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Perceived Risk Functional Physical Financial Social Psychological Time
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Figure 6.7 How Customers Use and Dispose of Products
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Rural Consumer Behaviour
Rural consumers are more brand loyal Restrictions on consumption Collective consumption behavior: for family rather than individual Seasonality of consumption based on seasonality of agricultural production/income Specific patterns in the five-stage buying decision process
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Integrate smaller losses with larger gains
Mental Accounting Consumers tend to… Segregate gains Integrate losses Integrate smaller losses with larger gains Segregate small gains from large losses
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