lecture 7 : buying behavior

lecture 7 : buying behavior

1. Buying Behavior is the decision processes and acts of people involved in buying and using products

2. need to understand

   • • why consumers make the purchases that they make?
   • • what factors influence consumer purchases?
   • • the changing factors in our society.
   • • Consumer Buying Behavior refers to the buying behavior of the ultimate consumer

3. firm needs to analyze buying behavior for:

   • • Buyers reactions to a firms marketing strategy has a great impact on the firms success
   • • analyze the what, where, when and how consumers buy
   • • Marketers can better predict how consumers will respond to marketing strategies

4. B to C Buying decision process :

   • recognition
     • recognition of the particular problem or need and here the buyer has a need to satisfy or a problem that needs solving, and this is the beginning of the buyer decision process.
   • information search
     • we begin to search for information about the product or service. Buyers here begin to look around to find out what’s out there in terms of choice and they start to work out what might be the best product or service for solving the problem or satisfying any need.
   • evaluation of alternatives
     • Once the information collected, the consumer will be able to evaluate the different alternatives that offer to him, evaluate the most suitable to his needs and choose the one he think it’s best for him
     • Each consumer does not attribute the same importance to each attribute for his decision
       • Mr. Smith may prefer a product for the reputation of the brand X rather than a little more powerful but less known product
       • While Mrs. Johnson has a very bad perception of that same brand.
   • Post purchase power
     • process continues even when the product or service is being consumed by the individual or business
     • if it doesn’t meet your needs or solve your problem you can take action to improve the product or service
   • purchase decision

5. types of buying behavior

   • Routine Response/Programmed Behavior
     • low involvement
     • frequently purchased
     • low cost items
     • very little search and decision effort
     • purchased almost automatically
   • Limited Decision
     • buying product occasionally
     • Requires a moderate amount of time for information gathering
   • Extensive Decision
     • high involvement
     • unfamiliar
     • expensive and/or infrequently bought products
     • High degree of economic/performance/psychological risk.
     • Spend alot of time seeking information and deciding
   • Impulse buying
     • no conscious planning

6. types of needs

7. stimuli

   • cultural
     • • Culture refers to the set of values, ideas, and attitudes that are accepted by a homogenous group of people and transmitted to the next generation
     • • Culture also determines what is acceptable with product advertising
       • . Culture determines what people wear, eat, reside and travel
       • Culture effects what people buy, how they buy and when they buy.
   • social
     • • Opinion leaders
       • use (pay) spokespeople to market their products
       • michael jordan (nike , madco)
     • • Roles and Family Influences
       • Family is the most basic group a person belongs to
       • marketers must understand
         • • consumer behavior starts in the family unit
         • • family roles and preferences are the model for children's future family
         • • family buying decisions are a mixture of family interactions and individual decision making
     • • Reference Groups
       • Any group that has a positive or negative influence on a person attitude and behavior
     • • Social Class
       • group of individuals who have similar social rank
       • determines to some extent, the types, quality, quantity of products that a person buys or uses.
   • psychological
     • motivation
       • an internal energizing force that orients a person's activities toward satisfying a need or achieving a goal
       • Actions are effected by a set of motives, not just one
     • perception
       • the process of selecting, organizing and interpreting information inputs to produce meaning.
       • information = 5 senses
         • memory
     • • Ability and Knowledge
       • Learning, changes in a person's behavior caused by information and experience
       • to change consumers' behavior about your product, need to give them new information : free sample etc
       • Inexperience buyers often use prices as an indicator of quality
     • • Attitudes
       • attitudes toward a firm and its products greatly influence the success or failure of the firm's marketing strategy
     • • Personality
       • internal traits and behaviors that make a person unique
     • • Lifestyles
       • consistent patterns people follow in their lives
   • personnal
     • sex
     • age
     • life-cycle-stage
     • job
     • economic situation

8. buyer response

   • product choice
   • brand choice
   • dealer choice
   • purchase timing
   • purchase amount

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