Consumer/Buyer%20Behavior - PowerPoint PPT Presentation

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Consumer/Buyer%20Behavior

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Cognitive Dissonance. Dissonance is post-purchase doubt that the product may mot have all of the ... to be concerned with dissonance and provide post-purchase ... – PowerPoint PPT presentation

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Title: Consumer/Buyer%20Behavior


1
CHAPTER 7
  • Consumer/Buyer Behavior

2
WHY INTEREST IN BUYER BEHAVIOR
  • Why might marketers be interested in the behavior
    of buyers/consumers?
  • How do consumers go about making buying
    decisions?
  • View the consumer decision-making process

3
CONSUMER DECISION-MAKING PROCESS
  • Routine Response Behavior
  • Consider the following factors Cost, Time,
    Information Search, Frequency of Purchase,
    Involvement, Familiarity with Products, Amount
    of Risk, Number of Alternatives, Situation).
  • Limited Problem Solving
  • Extended Problem Solving

4
FACTORS AFFECTING DECISION MAKING
  • Individual Factors (Demographic, Personality,
    Self-Concept, Life-Style)
  • Psychological Factors (Perception, motivation,
    Learning, Beliefs and Attitudes -- to change
    attitudes you must first change beliefs)
  • Social Factors (Reference Group, Opinion Leaders,
    Family)
  • Cultural Factors (Values, Sub-culture, Social
    Class)

5
Decision-Making Processes
  • Consumers do not consider all brands when making
    a decision. An evoked set is the outcome of the
    search process.
  • Evoked Set Group of brands which are the most
    preferred alternatives.
  • The evoked set is a subset of all brands the
    consumer would consider buying.

6
Decision Making Process
  • In comparing brands, consumers use objective
    attributes and subjective factors (e.g.
    prestige). The factors used when evaluating the
    various brands is the Evaluative Criteria.

7
Decision-Making Processes (Contd)
  • Compensatory Decision Making Model a perceived
    weakness in one attribute is made-up for by
    strengths in other attributes.
  • Non-Compensatory Decision Making Model
    Perceived weakness in one attribute cannot be
    made-up for by strengths in other attributes.

8
ATTRIBUTE WEIGTHING
  • Number of Attributes Considered In making a
    decision six or fewer generally used by most
    consumers.
  • Salient Attributes Factors deemed to be
    important when evaluating brands.
  • Determinant Attribute Most important factors
    affecting the decision. Some attributes are seen
    as being more important than others and are
    weighted more heavily in the decision.

9
Choice Outcomes
  • Consumers evaluate products in terms of
    pre-purchase expectations. The outcomes can lead
    to satisfaction or dis-satisfaction.
  • Performance deficiency may lead to changes in the
    product
  • Expectations deficiency may lead to changes in
    advertising or education.

10
Cognitive Dissonance
  • Dissonance is post-purchase doubt that the
    product may mot have all of the attributes or may
    not perform as well as you might have expected.
    It is a feeling of post-purchase psychological
    tension that you may not have made the best
    (right) decision.
  • Firms need to be concerned with dissonance and
    provide post-purchase support or dissatisfaction
    may result.
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