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Buying Behavior: The Final Consumer and the Business- to-Business Consumer To Accompany Basic Marketing, 14th Edition by William D. Perreault, Jr. and.

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Presentation on theme: "Buying Behavior: The Final Consumer and the Business- to-Business Consumer To Accompany Basic Marketing, 14th Edition by William D. Perreault, Jr. and."— Presentation transcript:

1 Buying Behavior: The Final Consumer and the Business- to-Business Consumer To Accompany Basic Marketing, 14th Edition by William D. Perreault, Jr. and E. Jerome McCarthy Your host: David J. Urban Professor of Marketing Virginia Commonwealth University

2 Marketing Strategy Planning Process Customers Needs and other Segmenting Dimensions Company Mission, Objectives, & Resources Competitors Current & Prospective S. W. O. T. External Market Environment External Market Environment Technology Political & Legal Social & Cultural Economic Targeting & Segmentation Positioning & Differentiation Narrowing down to focused strategy with quantitative and qualitative screening criteria

3 U. S. Population Trends Birthrate Key Domestic Trends Key Domestic Trends

4 Birthrate Aging Population Key Domestic Trends Key Domestic Trends U. S. Population Trends

5 Birthrate Household Composition Aging Population Key Domestic Trends Key Domestic Trends U. S. Population Trends

6 Shifts to Suburban Areas Birthrate Household Composition Aging Population Key Domestic Trends Key Domestic Trends U. S. Population Trends

7 Regional Differences Shifts to Suburban Areas Birthrate Household Composition Aging Population Key Domestic Trends Key Domestic Trends U. S. Population Trends

8 Ethnic Dimensions of the U. S. Market Buying Behavior Buying Behavior Median Income Growth Median Income Growth Accurate Target Accurate Target Growth Rate Growth Rate

9 Identifying Potential International Markets Growth Rate of Growth Focus:

10 Identifying Potential International Markets Growth Concentration Rate of Growth Population Density Focus:

11 Identifying Potential International Markets Growth Concentration Literacy Rate of Growth Population Density Communication Concerns Focus:

12 Identifying Potential International Markets Growth Concentration Literacy Rate of Growth Population Density Communication Concerns Focus: Money Relative Buying Power Focus :

13 A Model of Buying Behavior Marketing MixesAll Other Stimuli Psychological Influences Motivation Perception Learning Attitude Personality/Lifestyle Person Making Decision

14 A Model of Buying Behavior Family Social Class Reference Groups Culture Social Influences Marketing MixesAll Other Stimuli Person Making Decision Psychological Influences Motivation Perception Learning Attitude Personality/Lifestyle

15 A Model of Buying Behavior Purchase Reason Time Surroundings Purchase Situation Family Social Class Reference Groups Culture Social Influence Problem-Solving Process Person Does or Does Not Purchase (Response) Marketing MixesAll Other Stimuli Person Making Decision Psychological Variables Motivation Perception Learning Attitude Personality/Lifestyle

16 The PSSP Hierarchy of Needs Physiological Needs

17 The PSSP Hierarchy of Needs Safety Needs Physiological Needs

18 The PSSP Hierarchy of Needs Social Needs Safety Needs Physiological Needs

19 The PSSP Hierarchy of Needs Safety Needs Social Needs Physiological Needs Personal Needs

20 Needs Translate to Advertising

21 The Learning Process Drive

22 The Learning Process Drive Cues

23 The Learning Process Drive Cues Response Reinforcement

24 The Importance of Attitudes

25 Lifestyle Dimensions Opinions Activities Interests Lifestyle Segment Profile Lifestyle Segment Profile

26 Lifestyle Influences

27 Social Influences Culture Key Social Influences

28 Culture Social Class Key Social Influences Social Influences

29 Culture Reference Groups Key Social Influences Social Class Social Influences

30 Family Decision Making Opinion Leaders Culture Key Social Influences Social Class Reference Groups Social Influences

31 Family Influences

32 Consumer Problem Solving Awareness Need to Satisfy Focus:

33 Consumer Problem Solving Awareness Need to Satisfy Focus: Gathering Information How Products Fill Needs Focus:

34 Consumer Problem Solving Awareness Gathering Information Need to Satisfy How Products Fill Needs Focus: Evaluating Alternatives Ranking Products Focus:

35 Consumer Problem Solving Awareness Gathering Information Evaluating Alternatives Need to Satisfy How Products Fill Needs Ranking Products Focus: Choosing a Solution Selecting a Product Solution Focus :

36 Consumer Problem Solving Awareness Gathering Information Evaluating Alternatives Choosing a Solution Need to Satisfy How Products Fill Needs Ranking Products Selecting a Product Solution Focus: Evaluating the Decision How Did It Work Out? Focus :

37 Types of Consumer Decisions Extensive Problem Solving Involvement Continuum Low InvolvementHigh Involvement High involvement Infrequently purchased Expensive High risk Much information desired

38 Types of Consumer Decisions Extensive Problem Solving Routinized Response Behavior Involvement Continuum Low InvolvementHigh Involvement Low involvement Frequently purchased Inexpensive Little risk Little information needed High involvement Infrequently purchased Expensive High risk Much information desired

39 Types of Consumer Decisions Extensive Problem Solving Limited Problem Solving Routinized Response Behavior Involvement Continuum Low InvolvementHigh Involvement Low involvement Frequently purchased Inexpensive Little risk Little information needed High involvement Infrequently purchased Expensive High risk Much information desired

40 Types of Organizational Buyers Manufacturers Service Producers Retailers & Wholesalers Retailers & Wholesalers Governments

41 Buying Centers Buying Center Buying Center Buyers

42 Buying Centers Buying Center Buying Center Users Influencers Buyers

43 Buying Centers Buying Center Buying Center Users Gatekeepers Deciders Influencers Buyers

44 Basic Methods in Organizational Buying Basic Methods Basic Methods InspectionSampling Description Negotiated Contracts

45 Organizational Buying Processes Information Needed Review of Suppliers Multiple Influences Time Required Characteristics Much New-Task Buying Type of Process

46 Organizational Buying Processes Much Information Needed Review of Suppliers Multiple Influences Time Required Characteristics New-Task Buying Some Medium Modified Rebuy Type of Process

47 Organizational Buying Processes SomeMuch SomeMuch SomeMuch MediumMuch Information Needed Review of Suppliers Multiple Influences Time Required Characteristics New-Task Buying Modified Rebuy Little None Little Straight Rebuy Type of Process

48 Information Sharing Cooperation Operational Linkage Key Dimensions Social Influences

49 Information Sharing Cooperation Operational Linkage Relationship Specific Adaptations Legal Bonds Key Dimensions Buyer-Supplier Relationships

50 Marketing Strategy Planning Process Customers Needs and other Segmenting Dimensions Company Mission, Objectives, & Resources Competitors Current & Prospective S. W. O. T. External Market Environment External Market Environment Technology Political & Legal Social & Cultural Economic Targeting & Segmentation Positioning & Differentiation Narrowing down to focused strategy with quantitative and qualitative screening criteria

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