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Published byBathsheba Payne Modified over 9 years ago
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Consumer Behavior & Psychology
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Definition Consumer buyer behavior refers to the buying behavior of final consumers- individuals and households that buy goods for consumption- Kotler All these final consumers make up the consumer market
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Model of Consumer Behaviour How do consumers respond to various marketing efforts the company might use?
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Characteristics Affecting Consumer behaviour
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Social Factors Groups Family Roles & Status
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Personal Factors Age & life-cycle stage Occupation Economic situation Lifestyle Personality & self concept
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Psychological Factors Motivation Perception Learning Beliefs & Attitudes
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Types of Buying Decision Behaviour
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Complex Buying Behaviour Type of Product Expensive Risky Purchased infrequently Highly self-expressive Brand Must understand the information gathering and evaluation behaviour of buyers Need to help buyers learn about the product –class, attributes and relative importance Describe benefits – Print media Motivate stores sales people and buyers acquaintance to influence the final brand choice eg: Electronics
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Dissonance-reducing Buying Behaviour Type of product Expensive Risky Purchased infrequently Highly self-expressive Brand Provide a good price Offer convenience Mitigate dissonance - provide after sales communication with evidence and support to help consumers feel good about there product eg; Carpets, Furniture
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Habitual Buying Behaviour Type of product In expensive Frequently Purchased Familiar/ loyal Brand Provide a good price Offer Promotions Create top of mind – use colors symbols (TV led advertising) eg; personnel care products
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Variety Seeking Buying Behaviour Type of product In expensive Frequently Purchased Familiar Large choice/variety Brand Market Leader – create habitual behaviour Dominating shelf space Stocking up Reminder advertisements Challengers Offers lower price/special deals Coupons, samples Advertising that presence reason for trying something new eg; confectionary
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The Buyer Decision Process
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The Buyer Decision Process for New Products Consumer go through five stages in the process of adopting a new product: Awareness Interest Evaluation Trial Adoption
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Zero Moment of Truth
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Individual Differences in Innovativeness Marketing efforts in innovation
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Influence of Product Characteristics on Rate of Adoption Relative advantage Compatibility Complexity Divisibility Communicability
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