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6 Analyzing Consumer Markets Marketing Management, 13th ed Kotler on Marketing The most important thing is to forecast where customers are moving, and be in front of them. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-2 Chapter Questions • How do consumer characteristics influence buying behavior? • What major psychological processes influence consumer responses to the marketing program? • How do consumers make purchasing decisions? • How do marketers analyze consumer decision making? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-3 Figure 6.1 Model of Consumer Behavior Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-4 • a. Many different factors affect consumer buying behavior. Buying behavior is never simple. Understanding it, however, is the essential task of marketing management. b. Consumer buying behavior refers to the buying behavior of final consumers — individuals and households who buy goods and services for personal consumption Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-5 • c. The consumer market is all the individuals and households who buy or acquire goods and services for personal consumption. • 1). The American consumer market consists of about 287 million people. • 2). These people consume trillions of dollars of goods and services each year. • 3). The world consumer market consists of more than 6.2 billion people. • 4). Consumers vary tremendously in age, income, education level, and tastes. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-6 What Influences Consumer Behavior? Cultural Factors Social Factors Personal Factors Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-7 Cultural Factors • b. Cultural factors exert the broadest and deepest influence on consumer behavior. • The marketer needs to understand the role played by the buyer’s culture, subculture, and social class. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-8 • c. Culture is the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions. • 1). Culture is the most basic cause of a person’s wants and behavior Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-9 • 3). Marketers are always trying to spot cultural shifts in order to imagine new products that might be wanted. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-10 Fast Facts About American Culture • The average American: • • • • chews 300 sticks of gum a year goes to the movies 9 times a year takes 4 trips per year attends a sporting event 7 times each year Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-11 • d. Each culture contains smaller subcultures. • Subculture is a group of people with shared value systems based on common life experiences and situations. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-12 Subcultures Nationalities Religions Racial groups Geographic regions Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-13 • Many of these subcultures make up important market segments and many times products are designed for them. Examples of important subcultural groups include: Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-14 • 1). Hispanic consumers. There are 35 million consumers in this group, they spend $425 billion on goods and services. This group is very brand loyal and favor companies who show interest in them. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-15 • 2). African American consumers. This group has a tremendous purchasing power. This group has a buying power of $527 billion and, if they were a separate nation, would rank among the top 15 in the world. This group is growing in affluence and sophistication. Some companies have developed special products, packaging, and appeals for this group. They appear to be very price conscious, are motivated by quality and selection, and emphasize brand name and loyalty. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-16 • 3). Asian American consumers. This group is the fastest-growing and most affluent U.S. demographic segment and now number more than 10 million with disposable income of $229 billion annually. Language and cultural tradition appear to be the largest barrier to effectively marketing to this group. Because of its rapid growth, however, this group will receive increased attention from marketers. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-17 Social class Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-18 Social Factors Reference groups Family Social roles Statuses Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-19 • f. Almost every society has some form of social class structure. • Social class is the relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-20 • 1). Social class is not determined by a single factor such as income but is measured as a combination of occupation, income, education, wealth, and other variables. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-21 • 2). Social scientists have identified seven American social classes: (See Table 6.1) • a). Upper Uppers (less than 1 percent). • b). Lower Uppers (about 2 percent). • c). Upper Middles (about 12 percent). • d). Middle Class (about 32 percent). • e). Working Class (about 38 percent). • f). Upper Lowers (about 9 percent). • g). Lower Lowers (about 7 percent). Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-22 Table 7.1: Characteristics of Major U.S. Social Classes 1. Upper Uppers (less than 1%) The social elite who live on inherited wealth. They give 2. Lower Uppers (about 2%) Persons, usually from the middle class, who have earned high income or wealth through exceptional ability in the professions or business. They tend to be active in social and civic affairs and to buy the symbols of status for themselves and their children. They include the nouveau riche, whose pattern of conspicuous consumption is designed to impress those below them. large sums to charity, run the debutante balls, maintain more than one home, and send their children to the finest schools. They are a market for jewelry, antiques, homes, and vacations. They often buy and dress conservatively. Although small as a group, they serve as a reference group to the extent that their consumption decisions are imitated by the other social classes. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall See text for complete 6-23 table • 3). Marketers are interested in social class because people within a given social class tend to exhibit similar behavior, including buying behavior. • This is most evident in the selection of clothing, home furnishings, leisure activity, and automobiles. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-24 Influencing Buyer Behavior • Social Factors • Reference Groups • Reference groups • Membership groups • Primary groups • Secondary groups • Aspirational groups • Dissociative groups • Opinion leader Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-25 Social Factors • g. A consumer’s behavior is influenced by social factors. These include small groups, family, and social roles and status Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-26 Social Factors • h. A person’s behavior is influenced by many small groups. There are several specialized group formations within the larger configuration: Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-27 Social Factors • 1). Membership groups are groups that have a direct influence on a person’s behavior; they are groups to which a person belongs. • 2). Reference groups are groups that that have a direct (face-to-face) or indirect influence on the person’s attitudes or behavior. People are often influenced by reference groups to which they do not belong. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-28 Influencing Buyer Behavior -Aspirational groups -Dissociative groups - Primary groups -Secondary groups -Opinion leader Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-29 Social Factors • a). An aspirational group is a group to which an individual wishes to belong • b). Reference groups expose a person to new behaviors and lifestyles. c). Influence the person’s attitudes and selfconcept. d). They also create pressures to conform that may affect the person’s product and brand Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall choices. 6-30 Social Factors • e). An opinion leader is a person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others. Marketers try to identify opinion leaders and direct products and communications toward them. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-31 Influencing Buyer Behavior • Family • Family of procreation • Family of orientation Roles and Statuses • Role • Status Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-32 Social Factors • i. A consumer’s purchases are also influenced by family members. The influence can be very strong because the family is the most important consumer-buying organization in society. It has been extensively researched. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-33 Family • k. A person belongs to many groups and the person’s position within each group can be defined in terms of both role and status. A role is the activities a person is expected to perform according to the people around him or her. Status is the general esteem given to a role by society. People often choose products that show their status in society. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-34 Table 7.2: Stages in the Family Life Cycle 1. Bachelor stage: Young, single, not living at home Few financial burdens. Fashion opinion leaders. Recreation oriented. Buy: basic home equipment, furniture, cars, equipment for the mating game; vacations. 2. Newly married couples: Young, no children Highest purchase rate and highest average purchase of durables: cars, appliances, furniture, vacations. 3. Full nest I: Youngest child under six Home purchasing at peak. Liquid assets low. Interested in new products, advertised products. Buy: washers, dryers, TV, baby food, chest rubs and cough medicines, vitamins, dolls, wagons, sleds, skates. 4. Full nest II: Financial position better. Less influenced by Youngest child six or over advertising. Buy larger-size packages, multipleunit deals. Buy: many foods, cleaning materials, bicycles, music lessons, pianos. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall See text for complete table 6-35 Roles and Statuses • j. Marketers are interested in the roles and influence of the husband, wife, and children in the purchase of different products and services. Buying roles change with evolving lifestyles (such as more females working outside the home). Marketers try to identify the influencer role in a family unit (such as children). Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-36 With the “graying” of the American populace, marketers have begun to shift images and cultural references in advertising from things that are relevant to the twenty-somethings to images of active seniors, and soundtracks from the sixties and seventies. Can you identify any particular ad campaigns that fit this pattern? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-37 Personal Factors Age Selfconcept Life cycle stage Lifestyle Occupation Values Wealth Personality Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-38 Personal Factors • l. A buyer’s decisions are also influenced by personal characteristics such the buyer’s age and life-cycle stage, occupation, economic situation, lifestyle, personality and selfconcept. • m. People change the goods and services that they buy over their lifetimes. Part of these changes are shaped by the family life cycle (stages throughout which families might pass as they mature over time). The traditional life cycle stages are being modified as people form new lifestyles (such single parenting). Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-39 • n. A person’s occupation affects the goods and services bought (software bought by accountants, lawyers, and doctors). • o. The economic situation of the buyer is very important in purchase consideration. If a person fears losing their job, their purchasing habits generally change. If the person perceives that their economic situation is going to improve, they might consider making a major purchase. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-40 • p. People from the same social strata can have very different lifestyles. A lifestyle is a person’s pattern of living as expressed in his or her psychographics (such as activities, interests, and opinions). Lifestyle profiles a person’s whole pattern of acting and interacting in the world. It is more than the person’s social class or personality. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-41 • 1). Examples include: a). Activities (work, hobbies, shopping, etc.). • b). Interests (food, fashion, recreation, etc.). • c). Opinions (about themselves, social issues, business, etc.). Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-42 • 2). The most widely used lifestyle classification is the SRI Values and Lifestyles (VALS) typology. VALS classifies people according to their consumption tendencies by how they spend their time and money. A person could change positions over time. It is felt that a person’s lifestyle does affect their purchase behavior. Groups are further subdivided based on self-orientation and resources. (See Figure 6.3) Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-43 a). Self-orientation groups include: 1]. Principle-oriented consumers who buy based on their views of the world. • 2]. Status-oriented consumers who base their purchases on the actions and opinions of others. • 3]. Action-oriented buyers who are driven by their desire for activity, variety, and risk taking. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-44 • ). Resources can be either abundant or minimal depending on whether the buyer has high or low levels of income, education, health, self- confidence, energy, and other factors. Note: See SRI’s Web site at www.sribi.com for additional information. A survey can be filled out at the site to determine your SRI VALS position. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-45 • q. Each person’s personality and self-concept will influence their buying behavior. • Personality is a person’s unique psychological characteristics that lead to relatively consistent and lasting responses to his or her own environment. Personality is usually described in terms of traits (such as self-confidence, dominance sociability, etc.). Personality can be useful for analyzing consumer behavior for certain brand or product choices. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-46 • 1). A brand personality is the specific mix of human traits that may be attributed to a particular brand. • 2). Five brand personalities might be: a). Sincerity. Down to earth. cheerful. wholesome b). Excitement. Daring ,spirited,upto-date, imaginative. c). Competence. Reliable , intelligent and successful d). Sophistication. Upper class- charming e). Ruggedness. tough Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-47 Brand Personality Sincerity Excitement Competence Sophistication Ruggedness Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-48 • r. The self-concept describes the selfimage. The basic idea is that people’s possessions contribute to and reflect their identities. (how one views oneself) Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-49 Key Psychological Processes Motivation Perception Learning Memory Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-50 Motivation Freud’s Theory Maslow’s Hierarchy of Needs Herzberg’s Two-Factor Theory Behavior is guided by subconscious motivations Behavior is driven by lowest, unmet need Behavior is guided by motivating and hygiene factors Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-51 Maslow’s Hierarchy of Needs Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-52 Herzberg’s Two-Factor Theory Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-53 Perception Selective Attention Selective Retention Selective Distortion Subliminal Perception Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-54 Figure 6.4 Consumer Buying Process Problem Recognition Information Search Evaluation Purchase Decision Postpurchase Behavior Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-55 Influencing Buyer Behavior • Ernest Dichter’s research found: • Consumers resist prunes because prunes are wrinkled looking and remind people of old age. • Men smoke cigars as an adult version of thumb sucking. • Women prefer vegetable shortening to animal fats because the latter arouse a sense of guilt over killing animals. • Women don’t trust cake mixes unless they require adding an egg, because this helps them feel they are giving “birth.” Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-56 KEY PSYCHOLOGICAL PROCESSES • • The starting point for understanding consumer behavior is the stimulusrespons The marketer’s task is to understand what happens in the consumer’s consciousness between the arrival of the outside marketing stimuli and the ultimate purchase decisions. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-57 Motivation: Freud, Maslow, Herzberg A person has many needs at any given time. Some needs are: • • • Biogenic (arise from physiological states of tension such as hunger). Others are psychogenic and arise from a need for recognition, esteem, or belonging. A motive is a need that is sufficiently pressing to drive the person to act. • Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-58 Freud’s Theory Sigmund Freud assumed that the psychological forces shaping people’s behavior are largely unconscious, and that a person cannot fully understand his or her own motivations. Freud’s Theory Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-59 • A technique called laddering can be used to trace a person’s motivations from the stated instrumental ones to the more terminal ones. Motivation researchers often collect “indepth interviews” to uncover deeper motives triggered by a product. • • Projective techniques such as word association, sentence completion, and role-playing are used. Customer 2 is mixed profitability. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-60 Maslow’s Theory • Abraham Maslow sought to explain why people are driven by particular needs at particular times. • Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-61 • Maslow’s answer is that human needs are arranged in a hierarchy, from the most pressing to the least pressing. • In order of importance, they are: • • Physiological needs. • Safety needs. • Social needs. • Esteem needs. • Self-actualization needs. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-62 Herzberg’s Theory • Frederick Herzberg developed a twofactor theory that distinguishes dissatisfiers (factors that cause dissatisfaction) from satisfiers (factors that cause satisfaction). The absence of dissatisfiers is not enough; satisfiers must be present to motivate a purchase. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-63 • Herzberg’s theory has two implications: • Sellers should do their best to avoid dissatisfiers. • Sellers should identify the major satisfiers or motivators of purchase in the market and supply them. These satisfiers will make the major difference as to which brand the customer buys. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-64 Perception • How the motivated person actually acts is influenced by his or her view or perception of the situation. • Perception is the process by which an individual selects, organizes, and interprets information inputs to create a meaningful picture of the world. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-65 • Perception depends not only on the physical stimuli, but also on the stimuli’s relation to the surrounding field and on conditions within the individual. • • The key point is that perceptions vary widely among individuals exposed to the same reality. In marketing, perceptions are more important than the reality, as it is perceptions will affect consumers’ actual behavior. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-66 Selective Attention • It has been estimated that a person is exposed to over 1,500 ads or brand communications a day. Because a person cannot possibly attend to all of these, most stimuli will be screened out—a process called selective attention. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-67 • Selective attention means that marketers have to work hard to attract consumers’ notice. • People are more likely to notice stimuli that relates to a current need. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-68 Selective Distortion • Selective distortion is the tendency to interpret information in a way that will fit our preconceptions. Consumers will often distort information to be consistent with prior brands and product beliefs. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-69 Selective Retention • People will fail to register much information to which they are exposed in memory, but will tend to retain information that supports their attitudes and beliefs. • Because of selective retention, we are likely to remember good points about a product we like and forget good points about competing products. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-70 Learning • Learning involves changes in an individual’s behavior arising from experience. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-71 Memory • All information and experiences individuals encounter as they go through life can end up in their long-term memory. • Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-72 THE BUYING DECISION PROCESS: THE FIVESTAGE MODEL • These basic psychological processes play an important role in understanding how consumers actually make their buying decisions. Marketers must understand every facet of consumer behavior. • Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-73 Problem Recognition • The buying process starts when the buyer recognizes a problem or need. • The need can be triggered by internal or external stimuli. • Marketers need to identify the circumstances that trigger a particular need so that they can develop marketing strategies that trigger consumer interest. • Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-74 • An aroused consumer will be inclined to search for more information. We can distinguish between two types of arousal. • The milder state is called heightened attention where a person simply becomes more receptive to information about a product. • The second level is active information search where a person looks for reading material, going online, etc. to learn about the product. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-75 • sources to which the consumer will turn and the relative influence each will have on the subsequent purchase decision. These information sources fall into four groups: • Of key interest to the marketer are the major information Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-76 • Personal (family, friends). • Commercial (advertising, Web sites, salespeople). • Public (mass media, consumer organizations). • Experiential (handling, examining, using the product). Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-77 • Generally speaking the consumer receives the most information about a product from commercial sources. • The most effective information often comes from personal sources or public sources that are independent authorities. • The Internet has changed information search. Most consumers are hybrid consumers. • Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-78 • The consumer will come to know only a subset of these brands (awareness sent). • Some brands will meet initial buying criteria (consideration set). Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-79 Evaluation of Alternatives • No single process is used by all consumers or by one consumer in all buying situations. The most current models see the process as cognitively orientated. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-80 • First, the consumer is trying to satisfy a need. • Second, the consumer is looking for certain benefits from the product solution. • Third, the consumer sees each product as a bundle of attributes with varying abilities for delivering the benefits sought to satisfy this need. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-81 Beliefs and Attitudes • Evaluations often reflect beliefs and attitudes. Through experience and learning, people acquire beliefs and attitudes. These in turn influence buying behavior. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-82 • Belief —a descriptive thought that a person holds about something. • Attitude—a person’s enduring favorable or unfavorable evaluation, emotional feeling, and action tendencies toward some object or idea. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-83 • Attitudes put people into a frame of mind. • Attitudes lead people to behave in a fairly consistent way toward similar objects. • Attitudes can be very difficult to change. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-84 Purchase Decisions • In the evaluation stage, the consumer forms preferences among the brands in the choice set. The consumer may also form an intention to buy the most preferred brand. In executing a purchase intention, the consumer may make up to five sub decisions: Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-85 • • • • • Brand. Dealer. Quantity. Timing. Payment-method. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-86 • A consumer’s decision to modify, postpone, or avoid a purchase decision is heavily influenced by perceived risk. There are many types of risks that consumers may perceive in buying and consuming a product: Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-87 • • • • • • Functional risk. Physical risk. Financial risk. Social risk. Psychological risk. Time risk. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-88 Business organizations Business organizations do not only sell. They also buy vast quantities of raw materials manufactured , components, plant and equipment, supplies , and business services . Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-89 Figure 8.1: Major Influences on Industrial Buying Behavior Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-90 The business market versus the consumer market Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-91 Participants in the Business Buying Process Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-92 Major Influences on Buying Decisions • 1- Environmental Factors 2-Organizational Factors -Purchasing-Department Upgrading -Centralized Purchasing -Decentralized Purchasing of Small Ticket Items -Internet Purchasing Figure 6.5 Successive Sets Involved in Consumer Decision Making Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-94 Table 6.4 A Consumer’s Evaluation of Brand Beliefs About Laptops Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-95 Figure 6.6 Stages between Evaluation of Alternatives and Purchase Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-96 Perceived Risk Functional Physical Financial Social Psychological Time Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-97 Figure 6.7 How Customers Use and Dispose of Products Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-98