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Business Buyer Behaviour The buyer behaviour of organisations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit
Case Study
Harley-Davidson Devoted Consumers
Building Success
Measuring Success
Offers good bikes, upgraded showrooms, and revised sales tactics. Consumer emotions, motivations, and lifestyle research has been translated into effective advertising. Harley riders are fiercely loyal to the brand, older, better educated, affluent.
Currently has 26% of all U.S. bike sales and 50% of heavyweight segment. Demand outstripped supply for several years; waits of up to 2 years for popular models. Annual revenues/earnings have grown at 14% to 23% over past 10 years. 2007: 21st straight year of record sales and income.
Who is important?
Customers
Stimulus
Organism
Response
Stimuli
Marketing and other Stimuli
Marketing
e.g. Product
Response
Marketing
Response
Promotion
Other
e.g. Economic Cultural
2000 Prentice Hall
Buyer Cultural
Culture Sub-culture Social class
Social
Reference groups Family Roles and status
Personal
Age and lifestyle Occupation Economic situation Personality and selfconcept
Psychological
Motivation Perception Learning Beliefs and attitudes
Psychological Factors
Learning
4 Esteem needs
(self-esteem, recognition)
1
2000 Prentice Hall
Social Factors
Reference Groups
Family
Problem Recognition
Awareness of Problem/Need Raised by: Routine depletion Change in circumstances Problem Perceived as the difference between current and desired situation The Role of Advertising Sometimes, potential customers become aware of their problem
Information Search
Involves the Identification of Alternative Solutions by Searching Internal search
Relevant
External search
Friends,
Evaluation of Alternatives
Firstly
Reduction
of solutions to a manageable
shortlist
Evoked set
A
Choice Criteria
Technical Economic Social Personal
Reliability
Price
Status
Self-image
Durability
Social belonging
Risk reduction
Performance
Running costs
Convention
Ethics
Format
Residual value
Fashion
Emotions
Consideration Set
Choice Set
Decision
Purchase decision
Purchase
Selection of Quantity Quality Exact product characteristics Brand Retailer [e-Tailer] and method of payment The Transaction
Post-Purchase Evaluation
Satisfaction Transaction Performance Durability Dis-satisfaction Cognitive dissonance
What is Dissonance?
The Opposite of Satisfaction Often Occurs With Products that are: Expensive - car Difficult - many alternatives each with unique benefits - holidays Irrevocable - house-buying Individual Tendency to Experience Anxiety
Awareness The consumer becomes aware of the new product Interest The consumer seeks information about the new product Evaluation The consumer decides whether trying the new product makes sense Trial The consumer tries the new product on a small scale to improve his estimate of its value Adoption The consumer decides to make full and regular use of the new product
Pearson Education 2009