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Marketing

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  • September 15, 2013
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CHAPTER 5 : Consumer Markets and Consumer Buyer Behavior

Consumer Buyer Behavior
• … buying behavior of final consumers - individuals and households who buy goods and services for personal consumption

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Model of Consumer Behavior
Marketing and Other Stimuli Buyer Responses
Product Choice Brand Choice Dealer Choice

Marketing
• Product • Price • Place • Promotion Buyer’s “Black Box”

 Buyer Characteristics

Other
• Economic • Technological • Political • Cultural

 Buyer Decision Process

Purchase Timing Purchase Amount

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Factors Influencing Consumer Behavior

Cultural

Social
•Reference groups •Family •Roles and status

Personal
•Age and life-cycle •Occupation •Economic situation •Lifestyle •Personality and self-concept

Psychological
•Motivation •Perception •Learning •Beliefs and attitudes

•Culture •Subculture •Social class

Buyer

Most basic influences Broadest, deepest

Most specific Most individual

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Factors Influencing Consumer Behavior –
Cultural Factors
Culture - the most basic cause of a person's wants and behavior

• set of values, perceptions, wants & behavior learned by a member of society (learned from family & social institutions)

• achievement & success, activity & involvement, efficiency & practicality, progress, material comfort, individualism, freedom, humanitarianism, youthfulness, fitness & health Subculture - groups of people with shared value systems based on

common life experiences and situations (e.g., based on nationality, religion, race, geographic location, age, etc.) • represent important market segments  e.g., Hispanic, African-American, Asian-American  e.g., Gen Y, Gen X, Baby Boomers, Mature Market 5

Factors Influencing Consumer Behavior –
Cultural Factors
Social Class - Society’s relatively permanent and ordered
divisions, where members share similar values, interests, and behaviors (including buying behavior) • Based on resources, power, prestige •...