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CONSUMER MARKETS & BUYING BEHAVIOUR
1. Introduction
Analysing a market is the starting point for company planning
A market is a set of actual/potential buyers (consumer, producer, reseller, government).
2. Consumer Market
great variation
3. Consumer Buying Decisions
3 classes of buying situation (simple, limited & complex problem-solving).
Process from need, generics, product, product form, brand vendor, quality, timing & payment.
What alternatives were used?
4. Who is Involved?
Usually more than 1
Many roles, e.g. initiator, influencer, decider, buyer & user.
5. Major Influences
Culture
a fundamental determinant of wants & behaviour
distinct social classes
each class shows distinct product/brand preferences in some areas
Social
reference groups can influence attitudes, opinions & values:
identify which ones
identify opinion leaders
family is direct influence
role playing is strong influence (expectations, esteem, etc.)
Personal
age and life cycle
occupation, economic circumstances, lifestyle
personality, self-concept/self-image
Psychological
motivation (Freud, Maslow, Herzberg)
perception (a process for selection, organising & interpreting information)
learning (i.e. changes in behaviour arising from experience)
beliefs & attitudes.
6 Buying Process
Problem Recognition (buyer senses a variation between desired/actual state).
Information Search (attention awakens & then active search)
Information Evaluation (wide variety of preferred ways of processing information)
Purchase Decision (attitudes of others & situational factors)
Post-purchase Behaviour (afterwards? rationalisation, discomfort?)