Consumer Buying Behavior
7/17/2013
Learning outcomes Lesson 2 Consumer Buying Behavior
At the end of the session you should be able to: • Distinguish between customer and consumer • Understand how buyers make purchasing decisions • Identify buying decision behaviors.
Amali Wijekoon Department of MOT
Amali Wijekoon
2
Introduction
• Customer
– A person who pays a value to company offerings
Consumer markets
• Consumer markets are the markets for products and services bought by individuals for their own or family use • Types of consumer markets
– Fast moving consumer goods (FMCGs) – Shopping goods – Durables – Services
3 Amali Wijekoon 4
• Consumer
– Anyone who consumes products and services
• Classification of customers
– Prospect – Customer – Client – Internal customers
Amali Wijekoon
Consumer behavior
• How consumers select, buy, use and dispose of goods and services to satisfy their needs and wants • Can study actual consumer purchases (what, where, when, how much) • Why they buy????
Model of buying behavior
Marketing & other Stimuli
• Marketing • Product • Price • Place • Promotion • Other • Economic • Technology • Political • Cultural
Consumer’s black box
• Consumer characteristics • Consumer decision process
Purchase decision
• Product choice • Brand choice • Dealer choice • Purchase timing • Purchase amount
Amali Wijekoon
5
Amali Wijekoon
6
1
7/17/2013
Consumer characteristics
• • • • • • • Age Occupation Income Family Life style Personality Beliefs & attitudes • • • • Education Perceptions Experience Reference groups
Consumer decision making process
1. Need recognition
• • • Consumer recognizes a problem or need Internal stimuli or external stimuli Sources of information – personal, commercial, public, experiential
2. Information search 3. Evaluation of alternatives 4. Purchase decisions
• • Attitudes of others Unexpected situational factors
Amali Wijekoon 8
Amali Wijekoon
7
Consumer decision
Learning outcomes Lesson 2 Consumer Buying Behavior
At the end of the session you should be able to: • Distinguish between customer and consumer • Understand how buyers make purchasing decisions • Identify buying decision behaviors.
Amali Wijekoon Department of MOT
Amali Wijekoon
2
Introduction
• Customer
– A person who pays a value to company offerings
Consumer markets
• Consumer markets are the markets for products and services bought by individuals for their own or family use • Types of consumer markets
– Fast moving consumer goods (FMCGs) – Shopping goods – Durables – Services
3 Amali Wijekoon 4
• Consumer
– Anyone who consumes products and services
• Classification of customers
– Prospect – Customer – Client – Internal customers
Amali Wijekoon
Consumer behavior
• How consumers select, buy, use and dispose of goods and services to satisfy their needs and wants • Can study actual consumer purchases (what, where, when, how much) • Why they buy????
Model of buying behavior
Marketing & other Stimuli
• Marketing • Product • Price • Place • Promotion • Other • Economic • Technology • Political • Cultural
Consumer’s black box
• Consumer characteristics • Consumer decision process
Purchase decision
• Product choice • Brand choice • Dealer choice • Purchase timing • Purchase amount
Amali Wijekoon
5
Amali Wijekoon
6
1
7/17/2013
Consumer characteristics
• • • • • • • Age Occupation Income Family Life style Personality Beliefs & attitudes • • • • Education Perceptions Experience Reference groups
Consumer decision making process
1. Need recognition
• • • Consumer recognizes a problem or need Internal stimuli or external stimuli Sources of information – personal, commercial, public, experiential
2. Information search 3. Evaluation of alternatives 4. Purchase decisions
• • Attitudes of others Unexpected situational factors
Amali Wijekoon 8
Amali Wijekoon
7
Consumer decision