Consumer Markets and Consumer Buyer Behavior
Consumer Markets and Consumer Buyer Behavior
Consumer Markets and Consumer Buyer Behavior
Consumer Buyer
Behavior
Definitions
Consumer buyer behavior
refers to the buying behavior
of final consumers individuals
and households who buy goods
and services for personal
consumption
All of these final consumers
combine to make up the
consumer market
5-2
Factors Influencing
Consumer Behavior
5-3
Characteristics Affecting
Consumer Behavior
Key Factors
Cultural
Social
Personal
Psychological
Culture
Forms a persons
wants and behavior
Subculture
Groups with shared
value systems
Social Class
Societys divisions
who share values,
interests and
behaviors
5-4
Characteristics Affecting
Consumer Behavior
Groups
Key Factors
Cultural
Social
Personal
Psychological
Reference
Aspirational
Opinion Leaders
Buzz marketing
Family
Many influencers
Roles and Status
5-5
Characteristics Affecting
Consumer Behavior
Key Factors
Cultural
Social
Personal
Psychological
5-6
Characteristics
Affecting Consumer
Behavior
Key Factors
Cultural
Social
Personal
Psychological
Motivation
Perception
Learning
5-7
5-8
5-9
5 - 10
Consumers exhibit
heightened attention or
actively search for
information.
Sources of information:
Personal
Commercial
Public
Experiential
Word-of-mouth
5 - 11
Evaluation procedure
depends on the consumer
and the buying situation.
Most buyers evaluate
multiple attributes, each of
which is weighted
differently.
At the end of the evaluation
stage, purchase intentions
are formed.
5 - 12
5 - 13
Satisfaction is important:
Delighted consumers
engage in positive
word-of-mouth.
Unhappy customers
tell on average 11
other people.
It costs more to attract
a new customer than it
does to retain an
existing customer.
Cognitive dissonance is
common
5 - 14
5 - 15
Awareness
Evaluation
Interest
Trial
Adoption
5 - 16
5 - 17
Complexity
Divisibility
Communicability
5 - 19