MGT301

Principles of Marketing
Lecture-14
 Summary
of
Lecture-13
 Marketing Research (cont..)

Consumer Market-understanding the consumer

 Step-3
Implementing the Research Plan

Step-4
Interpretation and Reporting
of Findings
Consumer Market-understanding the consumer

All individuals and households who buy or acquire goods and

services for personal consumption
Model of Consumer Behavior
Stimulus-Response
 Todays Topics

Consumer Buying Behavior (cont..)

 Product Economic
Price
Place
Marketing and Technological
Promotion Other Stimuli Political
Cultural

Buyer
Buyers decision characteristics
process Buyers Black Box affecting consumer
what & how behavior

Product choice Purchase timing

Brand choice Buyers Response Purchase quantity
Dealer choice
 Stimulus Response Model
Marketing and other stimuli enter the buyers black box and
produce certain choice/purchase responses.
Marketers must figure out what is inside of the buyers black
box and how stimuli are changed to responses.
 Model of Buyer Behavior

Marketing Buyers Black Box Buyer

& other Responses
stimuli
Marketing Buyer Characteristics Product Choice
Product Buyer Decision Process Brand Choice
Price Dealer Choice
Place
Promotion
Other Purchase Timing
Economic Purchase Amount
Technological
Political
Cultural
Characteristics Affecting Consumer Behavior
Cultural
Social Personal
Age and Psycho-
Culture Reference life-cycle logical
groups Occupation Motivation
Sub- Economic Perception Buyer
culture Family situation
Learning
Lifestyle Beliefs and
Roles Personality attitudes
Social and
class and self-concept
status
1. Cultural

2. Social

3. Personal

4. Psychological
1. Cultural
 Cultural
a. Culture
b. Sub-Culture
c. Social Class

Set of values norms, attitudes, and other meaningful symbols that

shape human behavior and the artifacts, or products, of that
behavior as they are transmitted from one generation to the next.
 b. Subculture
A homogeneous group
of people who share elements of the overall culture as well as unique
elements of
their own group.
 c. Social Class

A group of people in a society who are considered nearly equal in

status or community esteem, who regularly socialize among
themselves both formally and informally, and who share behavioral
norms.
2. Social
 Social
a. Reference Groups
b. Family
c. Role & Status
a. Reference Group
 Reference Group

A group in society that influences an individuals purchasing

behavior.
Implications of Reference Groups
 They serve as information sources and influence perceptions

They affect an individuals aspiration levels

Their norms either constrain or stimulate consumer behavior

 Opinion Leaders

An individual who
influences the opinion of others.
 b. Family
Purchase Roles in
Initiators
the Family
Influencers
Decision-Makers
Purchasers
Consumers

Children Influence
Purchase Decisions
c. Roles and Status
Enough for today. . .
 Summary

Consumer Buying Behavior (cont..)

 Product Economic
Price Marketing and Technological
Place
Promotion Other Stimuli Political
Cultural

Buyers Black Box Buyer

Buyers decision characteristics
process what & how
affecting
consumer
behavior

Product choice Buyers Response Purchase timing

Brand choice Purchase quantity
Dealer choice
Characteristics Affecting Consumer Behavior
Cultural
Social Personal
Age and Psycho-
Culture Reference life-cycle logical
groups Occupation Motivation
Sub- Economic Perception Buyer
culture Family situation
Learning
Lifestyle Beliefs and
Roles Personality attitudes
Social and
class and self-concept
status
 Next.

Understanding the consumer behavior (cont..)

 MGT301
Principles of Marketing
Lecture-14