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    Marketing Planning and Applications: Analyzing Consumer Markets

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    Marketing Planning and Applications: Analyzing Consumer Markets

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    Copyright:

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    Download as pptx, pdf, or txt
    37 views31 pages

    Marketing Planning and Applications: Analyzing Consumer Markets

    Uploaded by

    Priya Aslam
    bdshxhx cgg

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 31

    Marketing Planning and Applications

    Lecture 6

    Analyzing Consumer Markets


    Discussion Questions
    1. How do consumer characteristics influence
    buying behavior?
    2. What major psychological processes influence
    consumer responses to the marketing
    program?
    3. How do consumers make purchasing
    decisions?

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 2 of 31


    ed
    fin
    De
    Consumer Behavior

    The study of how individuals, groups, and


    organizations select, buy, use, and dispose of goods,
    services, ideas, or experiences to satisfy their needs
    or wants.

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 3 of 31


    Model of Consumer Behavior

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 4 of 31


    What Influences
    Consumer Behavior?

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 5 of 31


    Personal Factors

    Cultural Factors

    Social Factors

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 6 of 31


    Cultural Factors
    Social Class

    Culture

    Subculture
    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 7 of 31
    Culture and subcultures
    Culture is the fundamental determinant of a person’s wants and
    behaviors acquired through socialization processes with family and
    other key institutions.
    Subcultures:
    • Nationalities
    • Religions
    • Racial groups
    • Geographic regions

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 8 of 31


    Major Social Classes

    Upper Class
    Upper Uppers (1 percent)
    Lower Uppers (2 percent)
    Middle Class
    Upper Middles (12 percent)
    Middle Class (32 percent)
    Working Class (38 percent)
    Lower class
    Upper Lowers (9 percent)
    Lower Lowers (7 percent)

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 9 of 31


    Social and personal Factors
    Family
    Reference Groups

    Role and Status

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 10 of 31


    Social factors
    Reference Groups

    • Opinion leader. is the person who offers advice or


    information about a specific product or product category,
    • Membership groups. Groups having a direct influence
    • Aspirational groups are those a person hopes to join;
    • Dissociative groups are those whose values or behavior an
    individual rejects.

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 11 of 31


    Social factors

    • Role and status


    • Family

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 12 of 31


    Personal Factors
    • Age
    • Life cycle stage
    • Occupation
    • Wealth
    • Personality
    • Values
    • Lifestyle
    • Self-concept

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 13 of 31


    Characteristics Affecting Consumer Behavior
    Personal Factors
    • Sincerity (down-to-earth, honest,, and
    cheerful),
    • Excitement (daring, spirited, imaginative,
    and up-to-date),
    • Competence (reliable, intelligent, and
    successful),
    • Sophistication (glamorous, upper class,
    charming), and
    • Ruggedness (outdoorsy and tough).
    Psychological Factors

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 15 of 31


    Key Psychological Processes
    • Motivation
    • Perception
    • Learning
    • Memory

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 16 of 31


    Motivation
    Maslow’s Herzberg’s
    Freud’s Hierarchy Two-Factor
    Theory of Needs Theory

    Behavior Behavior Behavior is


    is guided by is driven by guided by
    subconscious lowest, motivating
    motivations unmet need and hygiene
    factors

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 17 of 31


    Maslow’s Hierarchy
    of Needs

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 18 of 31


    Perception
    Selective
    Attention

    Selective Retention

    Subliminal
    Perception

    Selective
    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Distortion Slide 19 of 31
    Perception
    Selective attention is the tendency for people to screen out most of
    the information to which they are exposed
    Selective distortion is the tendency for people to interpret information
    in a way that will support what they already believe
    Selective retention is the tendency to remember good points made
    about a brand they favor and forget good points about competing
    brands
    Subliminal perception Subliminal messages and perception are linked
    to the idea of mind control

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 20 of 31


    Learning
    Drive becomes a motive when it is directed toward a particular
    stimulus object
    Cues are minor stimuli that determine when, where, and how the
    person responds
    Discrimination means we have learned to recognize differences in sets
    of similar stimuli and can adjust our responses accordingly.

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 21 of 31


    Emotions

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 22 of 31


    The Buying Decision Process

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 23 of 31


    Problem Recognition “I’m Hungry”

    Stimulus
    • Internal
    • External

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 24 of 31


    ed
    fin
    De INFORMATION SEARCH
    Personal. Family, friends, neighbors, acquaintances
    Commercial. Advertising, Web sites, salespersons, dealers,
    packaging, displays
    Public. Mass media, consumer-rating organizations
    Experiential. Handling, examining, using the product

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 25 of 31


    Evaluation of Alternatives
    Beliefs

    Attitudes
    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 26 of 31
    Purchase Decision
    Noncompensatory Models

    Choice Heuristics:
    • Conjunctive
    • Lexicographic
    • Elimination-by-aspect
    Purchase Brand
    decisions
    Dealer
    Quantity
    Timing
    Payment method

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 27 of 31


    Non-Compensatory Models of Choice: Heuristics
    • Conjunctive: The consumer sets a minimum acceptable cutoff
    level for each attribute and chooses the first alternative that
    meets the minimum standard for all attributes.
    • Lexicographic: The consumer chooses the best brand on the
    basis of its perceived most important attribute. (Mobile
    Phones)
    • Elimination-by-aspects: Elimination of brands based on
    negative attributes(Mobile phone compare facility on websites)
    eliminates brands that do not meet minimum acceptable cutoffs

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 28 of 31


    Post purchase Behavior Delighted
    Post purchase Satisfaction
    Satisfied

    Dissatisfied

    Loyal

    Stay or Go

    Post purchase Actions


    Defect
    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 29 of 31
    Disclaimer:
    The contents of these slides are adapted from book
    Marketing Management (15th Edition) by Philip T. Kotler and Kevin Lane Keller.
    It is solely for the purpose of teaching marketing concepts and assessing
    Marketing Planning and Applications student at Iqra University.

    Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 30 of 31


    Thank you

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