Consumer Behavior

Consumer Behavior

1. It references the decision-making process that consumers go through in order to define what are the conditions in which they wish to purchase a product or service.

2. External determinants

   • Cultural/social values
     • Culture values
     • Attitudes
     • Customers
   • Social class
   • Reference groups
     • Rules
     • Roles
     • Status
     • Socialization
     • Power
     • Social groups
       • Membership groups
       • Reference groups
   • Family
   • Purchase situations/consumption
   • Information

3. Internal determinants

   • Motivation
     • Physiological and psychological
     • Primary and selective
     • Rational and emotional
     • Positive and negative
     • Conscious and unconscious
   • Perception
     • Exposure to stumulli
     • Attention
     • Understanding
     • Retention
   • Experience/Learning
   • Personal characteristics
     • Demographic
     • Socioeconomic
     • Psychographic
   • Attitudes

4. By developing consumer research, companies can understand which products consumers believe can satisfy their needs.

5. Economic approach

   • Marshall
     • Provides logical norms for customers who want to be rational and behave rationally.
     • Economic factors should be involved in any analysis.
     • Price is a key variable in consumer behavior.

6. Psycho-sociological approach

   • Consumer behavior is determined not only by economic factors but also psychological and environmental factors.
   • Pavlov
     • Process of learning due to association
     • Stimulus-response: Drive, cue, response, reinforcement
   • Veblen
     • Humans are social animals that conform to norms of our culture and to more specific standards of subcultures.
     • Social environment influences the internal characteristics of the individual.
     • Companies and marketers should consider the impact of different social infuences.

7. Motivational approach

   • Maslow
     • Self-actualization
     • Esteem
     • Love/belonging
     • Safety
     • Physiological
     • He develops a classification of human needs in order of importance in order to explain why people are driven to do certain things.
   • Freud
     • An individual cannot ever fully understand their own motivitaion, their urges are unconscious.
     • Individual purchasing decisions are strongly influenced by unconscious motives.
     • Psychoanalysis theory
   • Herzberg
     • Dissatisfiers
     • Satisfiers