Essay About Value Needs And Marketing Session 4Consumer Buying Behaviourintroduction

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Marketing session 4Consumer Buying BehaviourIntroduction The buying process Different purchasing models Drivers of consumer behaviourExtensions A. Introduction: “Understanding the drivers of the consumers buying behaviours and in understanding the process from feeling the need to buying the product.” Example, why buy a coffee? Where? Why? How? The process you go through is very different if it’s for a coffee (habit, rational decision making process) or travelling (information/decision making process).Buying behaviourWhen products are complex and expensive customers apply what is known as rational decision-making. Example buying a house: Gaining a thorough in-depth customer understanding helps to make sure that the right products are marketed to the right customers in the right way. When? What? Where? How? Who? Why? B. The buying process- rational DM [pic 1]Need Recognition: why you are buying, purpose, goal, this is the driver. Motivation: a need that is sufficiently pressing to direct the person to seek satisfaction of the need and activate goal directed behaviours, needs or Value Needs: Maslow’s hierarchy of needs: many critiques on this approach, the needs are the same but not arranged in a pyramid. Need is something that is necessary for humans to live a healthy life. This pyramid structure is left to some criticisms, it is too simplistic, too culture bound (only adapts to western culture), and it emphasises individual needs over the group needs.[pic 2]Value set in emotional, this is to do with equal rights. Values tend to influence attitudes and behaviours. Values are put into a list by Kahle’s or into a system of values but Rokeach ( values ends and values means). Information search: on Internet, state of heightened attention to information you are passive, active information search. Several sources of information may be used as part of the information search. Internal=memory, external= other usually sellers, third parties. Quantity, Quality, Reliability (authority/trust) word from mouth is usually thought to be very trust worthy and advertising not. The stage in which the consumer is aroused to search for more information, state of heightened attention to information known as passive and the active information search. Evaluation alternative: is based on the attributes that will provide to you. You go somewhere on the bases of what it means to youFeatures v’s Attribute v’s Benefit. Means-Ends Chain Theory: Customers choose products on the basis of their attributes in order to obtain their own desired goals, by means of benefits or consequences they bring about. [pic 3] Laddering technique: – Why did you chose that? Why is that important to you? – Understand the attribute and the desired state. Organic food example – Techniques to discover linkages [pic 4]Hierarchical Value Map: a structure or network of attributes and value. The network of relations connecting attributes, consequences and desired end states [pic 5]Purchase decision Predictably irrational: power of relativity, example of the blind test, why we love free? Because free stuff there is no down side to it. The stage in which the consumer makes a decision about which product they buy. The factors may interfere with realization of purchase intentions: attitudes of others and unexpected situational factors, context dependence. The camera example, extremist aversion: happens regularlyTheory of planned behaviour or reason action. Attitude towards the behaviour, perceived behavioural control and what the others think. Post purchase behaviour Concepts of satisfaction, dissatisfaction and delightConsumption, and post satisfaction Participants in the Buying Process Family, couples, groups, C. DIFFERENT PURCHASE MODELS:1) BENEFITS: This is the object of the purchase, is it the bundle of benefits or utilities that consumers are choosing when they buy the value offer of their supplierBased on attributes of the offer and experience attached to it. 2) EVALUTATION MODEL Affect-based Attribute based: how to go about evaluation, taking into account the attributes.  Compensatory: The Fishbein index: Expected Value [pic 6]Non-Compensatory: lexicographic, conjunctive, disjunctive. D. DRIVERS OF CONSUMER BEHAVIOUR Cultural → Social → Personal → Psychological → Buyer Cultural: the most basic cause of a person’s wants and behavior, subculture and social class Social: Groups, Family, Role and Status Personal: Age, Occupation, Economic situation, Lifestyle, Personality,