Chapter 5 Essay

Chapter 5 Essay Chapter 5 Essay Priciples of Marketing by Philip Kotler and Gary Armstrong Chapter 5 Managing Marketing Information to Gain Customer Insights PEARSON Objective Outline Model of Consumer Behavior 1 Define the consumer market and construct a simple model of consumer buyer behavior. Characteristics Affecting Consumer Behavior 2 Name the four major factors that influence consumer buyer behavior. Objective Outline 3 Types of Buying Decision Behavior The Buyer Decision Process List and define the major types of buying decision behavior and the stages in the buyer decision process. The buyer decision Process for New Products 4 Describe the adoption and diffusion process for new products. Model of Consumer Behavior Consumer Buyer Behavior Consumer buyer behavior refers to the buying behavior of final consumers ─ individuals and households that buy goods and services for personal consumption. All of these final consumers combine to make up the consumer market. Model of Consumer Behavior We can measure the whats, wheres, and whens of consumer buying behavior. But it’s very difficult to â€Å"see† inside the consumer’s head and figure out the whys of buying behavior (that’s why we call black box). Marketers spend a lot of time and dollars trying to figure out what makes customers tick. Characteristics Affecting Consumer Behavi or Cultural Factors Culture Factors Culture Subculture Social Class Culture ï  ¬ ï  ¬ Culture is the of basic perceptions, wants, ï  ¬Every group orset society hasvalues, a culture, and cultural Marketers are always trying to spot cultural shifts so and behaviors learned by a member of society from influences on buying behavior maymight vary greatly as to discover new products that be wanted. family andcountry other important from both to countyinstitutions. and country to country. ïÆ'Ëœ Many marketers now embrace cross-cultural Subculture ïÆ'Ëœ They tend to be deeply family oriented and make shipping a family marketing ─ the practice of including ethnic affair ─ children have a bigand saycross-cultural in what brands they buy. within themes perspectives ïÆ'Ëœ Hispanic Asian Americans aretend the secondïÆ'Ëœ Each Older,ïÆ'Ëœ first-generation consumers to be very brand ï  ¬ culture contains smaller subcultures, or gro mainstream marketing. Although their morefastest-growing price conscious than other subsegment afterinterest in loyal andsegments, to favor brands and sellers who show special ïÆ'Ëœ Cross-cultural marketing appeals to consumer blacks are also strongly motivated ups of people with shared value systems based on Hispanic Americans. them. by qualitysimilarities across subcultures rather than and selection. ïÆ'Ëœ Asian consumers shop frequently and common life experiences andshown situations. ïÆ'Ëœ Younger Hispanics, however, have increasing price differences. ïÆ'Ëœ Brands are important. areand the amost brand conscious of all the sensitivity recent years willingness to switch to store ïÆ'Ëœ Many marketers are finding that insights ïÆ'Ëœ Inin recent years,ethnic manygroups. companies have brands. developedgleaned from ethnic consumers can influence special products, appeals, and ïÆ'Ëœ They there can beexist fiercely brand loyal. ïÆ'Ëœ Within the Hispanictheir market, many distinct subsegments broader markets. marketing programs for them. based on nationality, age, income, and other factors. Hispanic American Consumers African American Consumers Asian American Consumers Cross Cultural Marketing Social Class ï  ¬Social classes are society’s relatively permanent and ordered divisions whose members share simil ar values, interests, and behaviors. Social Factors Social Factors Groups and Social Networks ï  ¬ A group is two or more people who interact to accomplis h individual or mutual goals. ï  ¬ Reference groups serve as direct or indirect points of com parison or reference in forming a person’s attitudes or beh avior. ï  ¬ Reference groups expose a person to new behaviors and l ifestyles, influence the person’s attitudes and self-concept , and create pressures to