Consumer Buying Behavior

Learning Objectives
Understand the major factors influencing consumer behavior Know and recognize the types of buying decision behavior Understand the stages in the buying decision process

Consumer Market
Consists of all the individuals and households who buy or acquire goods and services for personal consumption.

Consumer Buying Decision Process

Problem Recognition Information Search Evaluation of Alternatives

Purchase Decision

Post-Purchase Evaluation

Types of Buying Behavior

Routine Response Limited Decision Extension Decision Impulse Buying

Factors Influencing Consumer Behavior

Personal Psychological Social Cultural

Personal Factors
Age Life-Cycle Stage

Personal Factors
Age Life-Cycle Stage Occupation Economic Circumstances Life Style

Psychological Factors
Wants
Based on a want or desire to have something. Not a necessity.

Psychological Factors
Motivation:
Freud
Id Ego Super Ego

Maslow
Hierarchy of Needs

Psychological Factors
Motivation Perception

The process by which an individual selects, organizes, and interprets inputs to create a meaningful picture of the world.
Selective Exposure Selective Distortion Selective Retention

Psychological Factors
Motivation Perception Learning
Changes in an individuals behavior arising form experience

Psychological Factors
Motivation Perception Learning Beliefs
Descriptive thoughts that a person holds about something

Psychological Factors
Motivation Perception Learning Beliefs Attitudes

Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies

Functional Factors
Needs
Need over wants. Delivers to a real need to have something.

Social Class
Relatively homogenous, enduring divisions in a society, hierarchically ordered with members sharing similar values, interests, and behaviors.

Family Influence on Buying Behavior

Husband-Dominant Wife-Dominant Equal

Culture & Subcultures

Cultures
The accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment

Subcultures
Groups of individuals who have similar value and behavior patterns within the group but differ from those in other groups.

Adoption Process
1. 2. 3. 4. 5. 6. Awareness Interest Evaluation Trial Decision Confirmation

Examples of Buying Motives: Psychological or Functional?

A senior wants to impress his date at the prom . His primary motive is ?

Psychological

Examples of Buying Motives: Psychological or Functional?

A girl wants to remember her grandmother on her birthday. Her primary motive is?

Psychological

Examples of Buying Motives: Psychological or Functional?

A homemaker needs a new washing machine and has had good experiences with LG. Her primary motive is ?

Functional

Examples of Buying Motives: Psychological or Functional?

A teacher wants to buy a practical car to be used for family transportation. Her/His primary motive is ?

Functional

Examples of Buying Motives: Psychological or Functional?

An overweight 40 year old man wants to loose weight so that he can reduce his blood pressure. His primary motive is?

Functional

Examples of Buying Motives: Psychological or Functional?

A homeowner needs to mow their lawn. Their primary motive is?

Functional

Learning Objectives-Reviewed
Understand the major factors influencing consumer behavior Know and recognize the types of buying decision behavior Understand the stages in the buying decision process

Consumer Buying Behavior