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Consumer Markets and

Consumer Buying Behavior


Consumer Markets and Consumer
Buying Behavior

Today’s Learning Objectives:

§  Characteristics influencing consumer buying


behavior

§  Consumer Buying Roles and Buying Behavior

§  Consumer Buying Decision Process


Consumer Markets and Consumer
Buying Behavior

Definitions

Consumer Buying Behavior


– Buying behavior of individuals and
households that buy products for personal
consumption
Consumer Market
– All individuals/households who buy products
for personal consumption
Model of Consumer Behavior
“Stimulus-Response”
Product Economic
Price Marketing and Technological
Place Other Stimuli Political
Promotion Cultural

Buyer’s decision Buyer’s Black Box Buyer characteristics


process affecting buying
”what” & “how” behavior

Product choice
Brand choice
Dealer choice Buyer’s Response
Purchase timing
Purchase quantity
Consumer Behavior

Factors Influencing
Consumer Behavior
Consumer Behavior

§  Cultural
Characteristics Affecting §  Social
Consumer Behavior §  Personal
§  Psychological
How and Why Consumers Buy

Influence Factors
•  Exert broadest and
•  Cultural deepest influence
•  Social •  Culture
•  Personal •  Subculture
•  Psychological
How and Why Consumers Buy

Influence Factors •  Reference groups


–  Membership
•  Cultural •  Primary vs. secondary
•  Social –  Aspirational vs.
dissociative
•  Personal •  Family
•  Psychological •  Social roles and
statuses
How and Why Consumers Buy

Influence Factors • Age


• Stage in life cycle
• Cultural • Occupation
• Social • Economic
circumstances
• Personal • Lifestyle
• Psychological • Personality
• Self-concept
How and Why Consumers Buy

Influence Factors

• Cultural • Motivation
• Social • Perception
• Personal • Learning
• Psychological • Beliefs
• Attitudes
Consumer Decision Buying Process

Marketers Must Identify and Understand:

Who Makes the Buying Decision

Types of Buying Decisions

Stages in the Buying Process


Consumer Buying Behavior

Understand • Initiator
• Influencer
• Buying roles
• Decider
• Buying behavior
• Buyer
• Buying decision
process • User
Buying Behavior

Types of Buying Behavior


Consumer Buying Behavior

Understand
• Five stages in the
• Buying roles consumer buying
• Buying behavior process
• Buying decision
process • The amount of time
spent in each stage
varies according to
several factors
Consumer’s Buyer Decision Process

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