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6 CHAPTER Consumer Decision Making Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 1 LO1 The Importance of Understanding Consumer Behavior Explain why marketing managers should understand consumer behavior Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 2 The Consumer Market “Ultimate” consumers who buy goods and services for their own personal or household use. Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 3 Needs vs. Wants (Typical Textbook Def.) Needs – Unsatisfactory conditions of the consumer that lead him or her to actions that will make the conditions better Wants – Desires to obtain more satisfaction than is absolutely necessary to improve unsatisfactory conditions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 4 Consumer Behavior Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use. LO1 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 5 Consumer Decision-Making Process Consumer Decision-Making Process A five-step process used by consumers when buying goods or services. LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 6 Consumer Decision-Making Process Need Recognition Cultural, Social, Individual and Psychological Factors affect all steps LO2 Chapter 5 Information Search Evaluation of Alternatives Purchase Postpurchase Behavior Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 7 Need Recognition Need Recognition Result of an imbalance between actual and desired states. LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 8 Need Recognition Present Status LO2 Chapter 5 Preferre d State Marketing helps consumers recognize an imbalance between present status and preferred state. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 9 Stimulus Stimulus Any unit of input affecting one or more of the five senses: sight smell taste touch hearing LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 10 Recognition of Unfulfilled Wants When a current product isn’t performing properly When the consumer is running out of a product When another product seems superior to the one currently used LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 11 Information Search Internal Information Search Recall information in memory External Information search Seek information in outside environment Nonmarketing controlled Marketing controlled LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 12 STAGE 2 – INFORMATION SEARCHIS INFLUENCED BY: EVOKED SET: Group of brands that come to mind around time of purchase CONSIDERATION SET: Group of brands a consumer will consider buying after search is complete Car Tire Brands? Typically 3-5 Brands in Consideration Set Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 13 Purchase To buy or not to buy... Determines which attributes are most important in influencing a consumer’s choice LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 14 LO3 Cognitive Dissonance Cognitive Dissonance Chapter 5 Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 15 LO3 Postpurchase Behavior Consumers can reduce dissonance by: Seeking information that reinforces positive ideas about the purchase Avoiding information that contradicts the purchase decision Revoking the original decision by returning the product Marketing can minimize through: Effective Communication Follow-up Guarantees Warranties Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 16 LO4 Culture Culture Chapter 5 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. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 17 LO4 Components of Culture Values Language Myths Customs Rituals Laws Material artifacts Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 18 LO4 Culture is. . . Pervasive Functional Learned Dynamic Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 19 LO4 Value Value Chapter 5 Enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 20 LO4 Core American Values Success Materialism Freedom Progress Youth Capitalism Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 21 LO4 Subculture Subculture Chapter 5 A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 22 LO4 Social Class Social Class Chapter 5 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. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 23 LO4 Social Class Measurements Occupation Income Education Wealth Other Variables Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 24 LO5 Social Influences Reference Groups Opinion Leaders Family Members Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 25 LO5 Reference Group Reference Group A group in society that influences an individual’s purchasing behavior. Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 26 LO5 Influences of Reference Groups Chapter 5 They serve as information sources and influence perceptions. They affect an individual’s aspiration levels. Their norms either constrain or stimulate consumer behavior. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 27 LO5 Opinion Leaders Opinion Leaders An individual who influences the opinion of others. Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 28 Reference Group Impact Example Social Environment usually much more influential Opinion Leaders Important – Rich’s runners’ group example... Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 29 LO5 Family Purchase Process Roles in the Family Initiators Influencers Decision Makers Purchasers Consumers Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 30 Individual Influences Gender Age Life Cycle Personality Self-Concept Lifestyle LO6 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 31 Psychological Influences Perception Motivation Learning Beliefs & Attitudes LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 32 Perception Perception Process by which people select, organize, and interpret stimuli into a meaningful and coherent picture. LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 33 Perception Selective Exposure Selective Distortion Selective Retention LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 34 Perception Selective Exposure Consumer notices certain stimuli and ignores others Selective Distortion Consumer changes or distorts information that conflicts with feelings or beliefs Selective Retention Consumer remembers only that information that supports personal beliefs LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 35 Marketing Implications of Perception Important attributes Price Brand names Quality and reliability Threshold level of perception Product or repositioning changes Foreign consumer perception LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 36 The “F” Test Count the number of Fs in the following sentence: FINISHED FILES ARE THE RESULT OF YEARS OF SCIENTIFIC STUDY COMBINED WITH THE EXPERIENCE OF MANY YEARS. Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 37 Stimulus Discrimination vs. Stimulus Generalization Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 38 Interpretation: Meaning consumer attaches to a stimulus NAMES Signal Power /Quality (Toro Snow Pup/Master) Cars: Mustang / Barracuda / Viper Donkey / Weasel? NUMBERS – 350 Z / WD-40 / Acura CL? COLORS – Different for different cultures Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 39 Interpretation: Meaning consumer attaches to a stimulus COLOR – Signal Newness or Quality (Black Label) – Signal Product Contents (Sodas) Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 40 Motivation Maslow’s Hierarchy of Needs A method of classifying human needs and motivations into five categories in ascending order of importance. LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 41 Maslow’s Hierarchy of Needs LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 42 Safety Appeal toward Women... Safe-T-Man Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 43 Safety Appeal toward Children... Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 44 Beliefs and Attitudes Belief An organized pattern of knowledge that an individual holds as true about his or her world. Attitude A learned tendency to respond consistently toward a given object. LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 45 Changing Attitudes Change beliefs about the brand’s attributes Change the relative importance of these beliefs Add new beliefs LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 46 Chapter 3 Consumer Markets and Buying Behavior COMPENSATORY VS. NON-COMPENSAGTORY CHOICE MODELS Chapter 1 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 47 Compensatory vs. Non-Compensatory Decision-Making Models Compensatory: Strong attributes can compensate for Weak ones. (These shoes are ugly, but they’re cheap, and they are extremely comfortable) Non-Compensatory: Attributes don’t compensate for each other. Select or dismiss based on key attribute or lack thereof. (Many different types of NC Models) Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 48