Discussion Topic- Marketing Foundation
xavierp
Chapter4PowerPoint.pptx
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LO 4-2
LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 4, YOU SHOULD BE ABLE TO:
LO 4-1
Describe the stages in the consumer purchase decision process.
Distinguish among three variations of the consumer purchase decision process: routine, limited, and extended problem solving.
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LO 4-4
LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 4, YOU SHOULD BE ABLE TO:
LO 4-3
Identify the major psychological influences on consumer behavior.
Identify the major sociocultural influences on consumer behavior.
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ENLIGHTENED CARMAKERS KNOW WHAT CUSTOM(H)ERS VALUE
The Sense of Styling
The Need for Speed
The Substance of Safety
The Shopping Experience
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FIGURE 4-1 The purchase decision process consists of five stages
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CONSUMER PURCHASE DECISION PROCESS
PROBLEM RECOGNITION
LO 4-1
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CONSUMER PURCHASE DECISION PROCESS
INFORMATION SEARCH
LO 4-1
Internal Search
External Search
Personal Sources
Public Sources
Marketer-Dominated Sources
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FIGURE 4-2 Common consumer selection criteria for evaluation of smartphones
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CONSUMER PURCHASE DECISION PROCESS
ALTERNATIVE EVALUATION
LO 4-1
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CONSUMER PURCHASE DECISION PROCESS
PURCHASE DECISION
LO 4-1
Decide When to Buy
Decide from Whom to Buy
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CONSUMER PURCHASE DECISION PROCESS
POSTPURCHASE BEHAVIOR
LO 4-1
Satisfied Customers Tell 3 People
Dissatisfied Customers Tell 9 People
Cognitive Dissonance: Post-purchase anxiety or tension
Customer Satisfaction Studies
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MARKETING MATTERS How Much is a Satisfied Customer Worth?
LO 4-1
A 5% improvement in customer retention can increase profits by 70-80%
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CONSUMER PURCHASE DECISION PROCESS
CONSUMER INVOLVEMENT & PROBLEM SOLVING
LO 4-2
Extended Problem Solving (High involvement)
Limited Problem Solving (Moderate)
Routine Problem Solving (Low involvement)
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FIGURE 4-3 Comparison of problem-solving variations: extended, limited, and routine
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CONSUMER PURCHASE DECISION PROCESS
CONSUMER INVOLVEMENT & PROBLEM SOLVING
LO 4-2
Low Involvement
Maintain Product Quality
Avoid Stockouts
Reduce Cognitive Dissonance with Ads
High Involvement
Use Comparative Ads
Use Personal Selling
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CONSUMER PURCHASE DECISION PROCESS
SITUATIONAL INFLUENCES
LO 4-2
Purchase Task (purpose)
Social Surroundings (other people)
Physical Surroundings (décor)
Temporal Effects (time)
Antecedent States (mood)
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FIGURE 4-4 Influences on the consumer purchase decision process from both internal and external sources
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
MOTIVATION
LO 4-3
Maslow’s Hierarchy of Needs:
Based on the idea that motivation comes from a need.
Once need is met, a higher-level need becomes the motivator.
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FIGURE 4-5 Hierarchy of needs
Match.com
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
PERSONALITY
LO 4-3
Key Traits: Enduring characteristics
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER PERCEPTION
LO 4-3
Selective Perception: Filtering
Selective Exposure: Paying attention
Selective Comprehension: Interpreting
Selective Retention: Remembering
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MAKING RESPONSIBLE DECISIONS The Ethics of Subliminal Messages
LO 4-3
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Strategies to Reduce Perceived Risk
Secure Endorsements
Provide Free Trials/Samples
Give Extensive Instructions
Provide Warranties/Guarantees
Obtain Seals of Approval
PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER PERCEPTION
LO 4-3
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COLGATE What strategy is used to reduce perceived risk?
LO 4-3
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER LEARNING
LO 4-3
Cue
(Stimulus)
Response
(Action)
Reinforcement
(Reward)
Behavioral Learning: Automatic responses
Drive (Need)
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER LEARNING
LO 4-3
Behavioral Learning
Stimulus Discrimination
Stimulus Generalization
Cognitive Learning: Thinking, reasoning, problem solving
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER VALUES, BELIEFS, AND ATTITUDES
LO 4-3
Attitude Formation
Attitudes are shaped by values and beliefs
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER VALUES, BELIEFS, AND ATTITUDES
LO 4-3
Attitude Change done by:
Adding New Product Attributes
Changing Perceived Importance of Attributes
Changing Beliefs About a Brand’s Attributes
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PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR
CONSUMER LIFESTYLE
LO 4-3
Psychographics: Combines psychology, lifestyle, demographics
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FIGURE 4-A VALS™ identifies eight consumer segments
Copyright © 2010 by Strategic Business Insights. All rights reserved.
INNOVATORS Sophisticated, Change Leading, Active, Take Charge
THINKERS Information Seeking, Satisfied, Reflective
BELIEVERS Conservative, Conventional, Traditional
STRIVERS Trendy, Approval, Seeking, Disenfranchised
ACHIEVERS Successful, Career & Family Oriented, Moderate
EXPERIENCERS Risk Seeking, Enthusiastic, Impulsive
MAKERS Homegrown, Self Sufficient, Macho, Family Oriented
SURVIVORS Passive, Risk Averse, Constrained
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SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR
PERSONAL INFLUENCE
LO 4-4
Buzz: Popularity created by WOM
Dove Ad
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MARKETING MATTERS BzzAgent—The Buzz Experience
LO 4-4
BzzAgent Video
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SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR
REFERENCE GROUPS
LO 4-4
Associative Group: Group someone belongs to
Aspiration Group: Group we want to belong to
Dissociative Group: Group we distance from
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SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR
FAMILY INFLUENCE
LO 4-4
Consumer Socialization: Process of acquiring skills, knowledge, and attitudes
Marital status, age, children…
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FIGURE 4-6 Modern family life cycle stages and flows
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SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR
FAMILY INFLUENCE
LO 4-4
Information Gatherer
Influencer
Decision Maker
Purchaser
User
Family Decision-Making
Styles
Spouse-Dominant
Joint
Family Member Roles
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SOCIOCULTURAL INFLUENCES ON CONSUMER BEHAVIOR
CULTURE AND SUBCULTURE INFLUENCES
LO 4-4
Culture: Set of values, ideas, attitudes shared among a group
Hispanic Buying Patterns
African American Buying Patterns
Asian American Buying Patterns
Nissan Ad
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GROUPON: HELPING CONSUMERS WITH PURCHASE DECISIONS
VIDEO CASE 4
Groupon Video Case
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VIDEO CASE 4
Groupon
1. How has an understanding of consumer behavior helped Groupon grow from 400 subscribers in Chicago in 2008 to 200 million subscribers in 48 countries today?
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VIDEO CASE 4
Groupon
2. What is the Groupon Promise? How does the Groupon Promise affect a consumer’s perceived risk and cognitive dissonance?
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VIDEO CASE 4
Groupon
3. Describe the five-stage purchase decision process for a typical Groupon user.
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VIDEO CASE 4
Groupon
4. What are possible psychological and sociological influences on the Groupon consumer purchase decision process?
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VIDEO CASE 4
Groupon
5. What challenges does Groupon face in the future? What actions would you recommend related to each challenge?
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BUYING PROCESS FOR STARBUCKS VIA™ READY BREW INSTANT COFFEE
IN-CLASS ACTIVITY 4-1
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ICA 4-1
Buying Process
Video
Website
Example:
Starbucks Via™
Ready Brew Instant Coffee
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FIGURE 4-1 Purchase Decision Process
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Consumer Behavior
Consumer behavior consists of the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.
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Purchase Decision Process
The purchase decision process consists of the five stages a buyer passes through in making choices about which products and services to buy: (1) problem recognition, (2) information search, (3) alternative evaluation, (4) purchase decision, and (5) postpurchase behavior.
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Evaluative Criteria
Evaluative criteria are the factors that represent both the objective attributes of a brand and the subjective ones a consumer uses to compare different products and brands.
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Consideration Set
A consideration set is the group of brands that a consumer would consider acceptable from among all the brands in the product class of which he or she is aware.
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Cognitive Dissonance
Cognitive dissonance is the feeling of postpurchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives.
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Involvement
Involvement is the personal, social, and economic significance of the purchase to the consumer.
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Situational Influences
Situational influences are the five aspects of the purchase situation that impact the consumer’s purchase decision process: (1) the purchase task, (2) social surroundings, (3) physical surroundings, (4) temporal effects, and (5) antecedent states.
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Motivation
Motivation is the energizing force that stimulates behavior to satisfy a need.
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Personality
Personality is a person’s consistent behaviors or responses to recurring situations.
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Self-Concept
Self-concept is the way people see themselves and the way they believe others see them.
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Perception
Perception is the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world.
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Subliminal Perception
Subliminal perception involves seeing or hearing messages without being aware of them.
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Perceived Risk
Perceived risk is the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences.
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Learning
Learning consists of those behaviors that result from (1) repeated experience and (2) reasoning.
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Brand Loyalty
Brand loyalty is a favorable attitude toward and consistent purchase of a single brand over time.
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Attitude
An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.
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Beliefs
Beliefs are a consumer’s subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people.
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Lifestyle
Lifestyle is a mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them.
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Opinion Leaders
Opinion leaders are individuals who exert direct or indirect social influence over others.
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Word of Mouth
Word of mouth involves the influencing of people during conversations.
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Reference Groups
Reference groups consists of people to whom an individual looks as a basis for self-appraisal or as a source of personal standards.
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Brand Community
A brand community is a specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use.
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Consumer Socialization
Consumer socialization is the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers.
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Family Life Cycle
A family life cycle consists of the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors.
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Social Class
Social class is the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped.
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Subcultures
Subcultures are the subgroups within the larger, or national, culture with unique values, ideas, and attitudes.
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