1. Analyzing Consumer Markets

2. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 2 of 31 Possible Questions 1.How do consumer characteristics influence buying behavior? 2.What major psychological processes influence consumer responses to the marketing program? 3.How do consumers make purchasing decisions? 4.In what ways do consumers stray from a deliberative, rational decision process?

3. Defined Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 3 of 31 The study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs or wants. Consumer Behavior

4. Cultural Factors Social Factors Personal Factors

5. Cultural Factors Culture Subculture Social Class

6. Social Factors Reference Groups Family Role and Status

7. Personal Factors Age Life Cycle Stage Personality

8. Personal Factors Values Occupation Lifestyle Economic situation

9. Psychological Factors

10. Motivation Freud Maslow Herzberg

11. Maslow’s Hierarchy of Needs

12. Perception Selective Distortion Selective Retention Selective Attention Subliminal Perception

13. Learning Driver Cues Discrimination

14. Emotions

15. Memory Brand Associations Mental Maps Memory Processes Encoding Retreival Brand Association

16. The Buying Decision Process

17. Buying Decision Process

18. Problem Recognition Stimulus Internal External “I’m Hungry”

19. Information Search Personal Commercial Public Experiential

20. Successive Sets Involved in Consumer Decision Making

21. Evaluation of Alternatives Attitudes Beliefs

22. Steps between Evaluation of Alternatives and Purchase Decision

23. Postpurchase Behavior Postpurchase Satisfaction Postpurchase Actions Defect Loyal Dissatisfied Satisfied Delighted Stay or Go

24. How Customers Use or Dispose of Products

25. Behavioral Decision Theory Decision Heuristics Decision Framing