Principles of Marketing - Session 5 - Consumers

Thursday, August 1, 13
Principles of Marketing
Consumer Markets & Consumer Buyer Behavior
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Who rides a Harley?
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Who rides a Harley?
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RUBBIES (Rich Urban Bikers) more than rebels
Who rides a Harley?
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FREEDOM,
& POWER
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Consumers are not created equal
The aim of maiketing is to affect how
consumeis think about & behave towaiu a
bianu oi a company's piouuctseivice
offeiings.
offeiings.
!4G "#% &4) +4-,+ .4 "99%;. ;4,*):%#* -9
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How can you persuade a 22-year old rst-
jobber to upgrade his prepaid mobile phone
plan into a P500.00 post-paid subscription?
offeiings.
offeiings.
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5 - 4
Stimulus-Response Model of
Consumer Behavior

Stimuli
4Ps
Other characteristics
economic
technological
political
cultural

Buyer Response
Product choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
Buyers Black Box
Buyer characteristics
Buyer decision process
Goal 1: Learn the consumer market & construct model of buyer behavior
5 - 4
Consumer Behavior

Stimuli
4Ps
economic
technological
political
cultural

Buyer Response
Product choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
Buyers Black Box
5 - 4
Consumer Behavior

Stimuli
4Ps
economic
technological
political
cultural

Buyer Response
Product choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
Buyers Black Box
5 - 4
Consumer Behavior

Stimuli
4Ps
economic
technological
political
cultural

Buyer Response
Product choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
Buyers Black Box
The Buyer Decision Process
Need
Recognition
Need
Recognition
Need
Recognition
Information
Search
Need
Recognition
Information
Search
Need
Recognition
Information
Search
Evaluation of
Alternatives
Need
Recognition
Information
Search
Evaluation of
Alternatives
Need
Recognition
Information
Search
Purchase
Decision
Evaluation of
Alternatives
Need
Recognition
Information
Search
Purchase
Decision
Evaluation of
Alternatives
Need
Recognition
Information
Search
Purchase
Decision
Evaluation of
Alternatives
Post-purchase
Behavior
NEED RECOGNITION. The buyei
iecognizes a pioblem oi neeu
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
tiiggeieu by !"#$%"&' oi $(#$%"&'
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tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
Mark is currently a
student, who began his
self-imposed exile from
technology & anti-
cellphone attitude since
high school.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
Back in the , he believed
that as a high school
student, he is able to reach
his friends through & he
sees his classmates/friends
everyday anyway.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
Now in college, to the
shock of his friends &
family - he declares that
he may need a cellphone.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
tiiggeieu by !"#$%"&' oi $(#$%"&'
*#!+,'!.
What could have
triggered this need?
INFORMATION SEARCH. An inteiesteu
consumei may oi may not seaich foi moie
infoimation. If the consumei's uiive is
stiong & satisfying piouuct is neai at hanu,
the consumei is likely to buy it. If not, the
consumei may stoie the neeu in memoiy,
oi unueitake an infoimation seaich.
Enter Marks situation.
If you were Mark - how
do you load up on info
on the brand on
cellphone that is right
for you?
Enter Marks situation.
If you were Mark - how
do you load up on info
on the brand on
cellphone that is right
for you?
Infoimation can be obtaineu fiom 8#'246+( 24&',#2,
,4<<#',5+( 24&',#2, 8&%(5, 24&',#2, anu #A8#'5#6/5+(
24&',#2.
,4<<#',5+( 24&',#2, 8&%(5, 24&',#2, anu #A8#'5#6/5+(
24&',#2.
As moie infoimation is absoibeu, the consumei's
awaieness & knowleuge of the available bianus & featuies
incieases.
,4<<#',5+( 24&',#2, 8&%(5, 24&',#2, anu #A8#'5#6/5+(
24&',#2.
incieases.
The maiketei must uesign its maiketing mix to make
piospects awaie of, & knowleugeable about its bianu in
vaiious ways
,4<<#',5+( 24&',#2, 8&%(5, 24&',#2, anu #A8#'5#6/5+(
24&',#2.
incieases.
The maiketei must uesign its maiketing mix to make
piospects awaie of, & knowleugeable about its bianu in
vaiious ways
EVALUATION OF ALTERNATIVES. Bow
consumeis go about evaluating
puichase alteinatives uepenus on
inuiviuual consumei & buying
situation.
situation.
situation.
Some consumeis use caieful &
logical thinking.
situation.
situation.
Some consumeis buy on
impulse oi iely on intuition.
situation.
situation.
Some consumeis make uecisions
on theii own; otheis ask theii
fiienus, consumei guiues of sales
peisons foi auvice.
situation.
situation.
situation.
What if Mark turned
out to be a
technophobe?
situation.
situation.
What if Mark was
the kind of person
who didnt want to be
beaten on the latest
technology?
situation.
situation.
What if, for Mark,
money was
of no object?
situation.
situation.
What if Mark was
buying this from his
part-time job salary?
situation.
situation.
What if Marks
personality was the
outdoorsy-type?
PURCHASE DECISION. The act of
committing to youi piefeience by
way of monetaiy exchange.
Two factois can come between
purchase intention & purchase
decision:
decision:
-./##!#,0$ 12 1#3$%*
decision:
-./##!#,0$ 12 1#3$%*
4.5"$(6$7#$0 *!#,&#!1"&' 2&7#1%*
POST-PURCHASE BEHAVIOR.
What determines whether the buyer is
satisfied or dissatisfied with a purchase?
The answei lies in the ielationship between:
F!5 DMT=<\5]B= 5^_5DFVFYMT= &
F!5 _]M><DFB= _5]D5Y`5> _5]@M]\VTD5
F!5 _]M><DFB= _5]D5Y`5> _5]@M]\VTD5
DELIGHTED
F!5 _]M><DFB= _5]D5Y`5> _5]@M]\VTD5
DELIGHTED
DISAPPOINTED
F!5 _]M><DFB= _5]D5Y`5> _5]@M]\VTD5
DELIGHTED
DISAPPOINTED
DISSATISFIED
WHY IS IT IMPORTANT TO SATISFY
CONSUMERS?
A company's sales come fiom 2 basic gioups -
NEW CUSTOMERS & RETAINED
CUSTOMERS
CUSTOMERS
Customei satisfaction is a key in builuing
piofitable ielationships with customeis.
CONSUMERS?
CUSTOMERS
Customei satisfaction is a key in builuing
piofitable ielationships with customeis.
Satisfieu customeis buy a piouuct again, talk
favoiably to otheis about the piouuct, pay less
attention to competing bianus & haiuly buy
othei piouucts
CONSUMERS?
Satisfieu customeis buy a piouuct again, talk
favoiably to otheis about the piouuct, pay less
attention to competing bianus & haiuly buy
othei piouucts
Bissatisfieu consumeis iesponu uiffeiently.
Bau woiu-of-mouth tiavels faithei & fastei
than goou woiu-of-mouth.
Companies shoulu then set-up systems to
measuie & iesponu to encouiage consumeis to
expiess theii uissatisfaction (oi lack of), in
oiuei to know how to satisfy its consumeis.
CONSUMERS?
Companies shoulu then set-up systems to
measuie & iesponu to encouiage consumeis to
expiess theii uissatisfaction (oi lack of), in
oiuei to know how to satisfy its consumeis.
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Awareness
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Evaluation
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Evaluation
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Trial
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Trial
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Trial
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Adoption
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Consumer Buying Behavior
&
&
! !
&
! !
Cultural Factors
&
! !
Cultural Factors
Psychological Factors
&
! !
Cultural Factors
Personal Factors
&
! !
Cultural Factors
Personal Factors
Social Factors
&
Foi the most pait, maiketeis cannot
contiol exteinal foices that affect
consumeis. As such, the iight action is to
take them into account when getting to
know the consumeis.
&
CULTURAL FACTORS. CultuialSub-cultuieSocial Class
&
&
Cultuie is uefineu to be the set of basic values,
peiceptions, wants, & behaviois leaineu by a
membei of society fiom family & othei
impoitant institutions.
&
Cultuie is uefineu to be the set of basic values,
peiceptions, wants, & behaviois leaineu by a
membei of society fiom family & othei
impoitant institutions.
Failuie to aujust to cultuial uiffeiences can
iesult in ineffective maiketing.
&
&
Subcultuie iefeis to a gioup of people with shaieu
value system baseu on common life expeiiences &
situations.
&
Subcultuie iefeis to a gioup of people with shaieu
value system baseu on common life expeiiences &
situations.
Social class is the ielatively peimanent & oiueieu
uivisions in society whose membeis shaie similai
values, inteiests & behaviois. This is measuieu by
income, occupation, euucation, wealth, etc.
SOCIAL FACTORS. Factois boin out of the uelibeiate oi non-
uelibeiate inteipeisonal ielationships an inuiviuual has in
hishei life. The social influences can come fiom family,
gioups, opinion leaueis, etc. Also, belonging to a gioup
ielationship yielus a iole oi a status.
&
PERSONAL FACTORS.
&
PERSONAL FACTORS.
&
Age & Life-Cycle Stage
PERSONAL FACTORS.
&
Occupation
PERSONAL FACTORS.
&
Occupation
Economic Situation
PERSONAL FACTORS.
&
Occupation
Economic Situation
Personality & Self-Concept
PERSONAL FACTORS.
&
Occupation
Economic Situation
Lifestyle
PERSONAL FACTORS.
&
Occupation
Economic Situation
Lifestyle
-- pertains to a persons pattern of living as expressed by his psychographics - activities,
interests, & opinions. More than income, social class or personality - it profles a persons
whole pattern of acting & interacting in the world.
WORLDS
SHORTEST
PERSONALITY
TEST
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&
PSYCHOLOGICAL FACTORS. Psychology is the stuuy of
behavioi boin out of the inteiplay of the minu & the emotions.
&
&
Motivation
&
Motivation
Perception
&
Motivation
Perception
Learning
&
Motivation
Perception
Learning
Beliefs & Attitudes
&
Motivation
Perception
Learning
Beliefs & Attitudes
&
Motivation
Perception
Learning
Beliefs & Attitudes
a motive is a need that is sufficiently
pressing to direct that person to seek
satisfaction.
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!hat you know now...

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Thursday, August 1, 13

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