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Tata Steel used steeljunction to encourage consumers to go steel shopping and to develop deeper understanding of individual and household customers.
What is Culture?
Culture is the fundamental determinant of a persons wants and behaviors acquired through socialization processes with family and other key institutions.
Subcultures
Social Classes
Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers
Urban
A1 A2 B1 B2 C D E1 E2
R1 R2 R3 R4
Rural
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
Social Factors
Reference groups Family
Social roles
Statuses
Reference Groups
Membership groups
Primary groups family, friends, neighbours, coworkers Secondary groups religious, professional, trade-union
Personal Factors
Age Selfconcept Life cycle stage
Lifestyle
Values
Occupation
Wealth
Personality
Brand Personality
Sincerity down to earth, honest, wholesome & cheerful Excitement daring, spirited, imaginative & up-todate Competence reliable, intelligent, & successful Sophistication upper class & charming Ruggedness outdoorsy & tough
Lifestyle Influences
Sustainable Economy Healthy Lifestyles Ecological Lifestyles Alternative Health Care Personal Development
Learning
Memory
Motivation
Freuds Theory Behavior is guided by subconscious motivations Maslows Hierarchy of Needs Behavior is driven by the lowest, unmet need Herzbergs Two-Factor Theory Behavior is guided by motivating and hygiene factors
Perception
Selective perception
Likely to notice stimuli that relate to current need Likely to notice stimuli they anticipate Likely to notice stimuli whose deviation is large in relationship to the normal size of stimuli
Learning
Memory
Associative network memory model Brand associations Memory encoding Memory retrieval
Memory processes
Problem Recognition
Buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli.
Sources of Information
Personal
Commercial
Public
Experiential
Evaluation of Alternatives
Consumers evaluate the products & services by combining their brand beliefs the positives & negatives according to importance.
Purchase Decision
Perceived risk
Functional risk Physical risk Financial risk Social risk Psychological risk Time risk
Postpurchase Behaviour
Rural consumers are more brand loyal Restrictions on consumption Collective consumption behaviour: for family rather than individual Seasonality of consumption based on seasonality of agricultural production/income Specific patterns in the five-stage buying decision process
Mental Accounting
Consumers tend to Segregate gains Integrate losses Integrate smaller losses with larger gains Segregate small gains from large losses