BBA III lec 4
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Transcript of BBA III lec 4
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Chapter 6
Analyzing Consumer Markets
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What Influences Consumer Behavior?
Cultural Factors
Social Factors
Personal Factors
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What is Culture?Culture is the fundamental determinant of
a persons wants and behaviors acquired
through socialization processes with familyand other key institutions.
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Subcultures
Nationalities
Religions
Racial groups
Geographic regions
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Social Classes
Upper uppers
Lower uppersUpper middles
Middle classWorking classUpper lowersLower lowers
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Characteristics ofSocial ClassesyWithin a class, people tend to behave alike
y Social class conveys perceptions of inferior or superior
positiony Class may be indicated by a cluster of variables
(occupation, income, wealth)
y Class designation is mobile over time
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Social Factors
Reference
groups
Socialroles
Statuses
Family
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Reference Groups
Membership groups
Primary groups
Secondary groups
Aspirational groups
Dissociative groups
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FamilyyFamily of orientation
yFamily of Procreation
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Roles and StatusWhat degree of status isassociated with various
occupational roles?
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Personal Factors
Age
Values
Life cycle
stage
Occupation
Personality
Self-
concept
Wealth
Lifestyle
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The Family Life Cycle
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Brand personalityy Brand personality is the specific mix of human traits
that may be attributed to a particular brand:
y
Sincerity down to earth, honest, wholesome & cheerfuly Excitement daring, spirited, imaginative & up to date
y Competence reliable, intelligent & successful
y Sophistication upper class & charming
y
Ruggedness outdoorsy & tough
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Lifestyle Influences
Multi-tasking
Time-starved
Money-constrained
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Model of Consumer Behavior
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Key Psychological Processes
Motivation
MemoryLearning
Perception
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Motivation
FreudsTheory
Behavioris guided bysubconsciousmotivations
MaslowsHierarchyof Needs
Behavioris driven bythe lowest,unmet need
HerzbergsTwo-Factor
Theory
Behavior isguided bymotivatingand hygiene
factors
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Maslows Hierarchy of Needs
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Perception
Selective Attention
Subliminal Perception
Selective Retention
Selective Distortion
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Consumer Buying Process
Problem Recognition
Information Search
Evaluation
Purchase Decision
PostpurchaseBehavior
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Problem
Recognition
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Sources of Information
Personal
ExperientialPublic
Commercial
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Successive Sets Involved in Consumer
DecisionMaking
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Sales and Product Life Cycle
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Stages between Evaluation of Alternatives
and Purchase
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Non-Compensatory Models of Choice
yConjunctive heuristics
yLexicographic heuristics
yElimination-by-aspects heuristics
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Copyright 2009 DorlingKindersley (India) Pvt. Ltd.
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Perceived RiskFunctional
Physical
Financial
Social
Psychological
Time
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How Customers Use and Dispose ofProducts
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Rural Consumer Behavioury Rural consumers are more brand loyal
y Restrictions on consumption
y Collective consumption behaviour: for familyrather than individual
y Seasonality of consumption based on seasonalityof agricultural production/income
y Specific patterns in the five-stage buying decisionprocess
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Other Theories of Consumer Decision Making
Involvement
y Elaboration
Likelihood Modely Low-involvement
marketing strategies
yVariety-seeking
buying behavior
Decision Heuristics
yAvailability
y RepresentativenessyAnchoring and
adjustment
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Mental Accountingy Consumers tend to
ySegregate gains
y Integrate lossesy Integrate smaller losses with larger gains
ySegregate small gains from large losses