Marketing management topic 2 analyzing consmer markets

MARKETING MANAGEMENT Topic Analyzing Consumer Markets Kotler Keller Chapter Questions How consumer characteristics influence buying behavior?  What major psychological processes influence consumer responses to the marketing program?  How consumers make purchasing decisions?  How marketers analyze consumer decision making?  6-2 What Influences Consumer Behavior? Cultural factors  Social factors  Personal factors  6-3 Culture The fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions 6-4 Subcultures Nationalities  Religions  Racial groups  Geographic regions  Special interests  6-5 Fast Facts About American Culture  The average American  chews 300 sticks of gum a year  goes to the movies times a year  takes trips per year  attends a sporting event times each year 6-6 Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers 6-7 Characteristics of Social Classes Within a class, people tend to behave alike  Social class conveys perceptions of inferior or superior position  Class may be indicated by a cluster of variables (occupation, income, wealth)  Class designation is mobile over time  6-8 Social Factors Reference groups Family Social roles Statuses 6-9 Reference Groups Membership  Primary  Secondary  Aspirational  Dissociative  6-10 Family   Family of Orientation  Religion  Politics  Economics Family of Procreation  Everyday buying behavior 6-11 Personal Factors     Age Life cycle stage Occupation Wealth     Personality Values Lifestyle Self-concept 6-12 Brand Personality Sincerity  Excitement  Competence  Sophistication  Ruggedness  6-13 Key Psychological Processes Motivation  Perception  Learning  Memory  6-14 Motivation Freud’s theory  Maslow’s hierarchy of needs  Herzberg’s two-factor theory  6-15 Perception Selective attention  Selective retention  Selective distortion  Subliminal perception  6-16 Figure 6.4 Consumer Buying Process Problem recognition  Information search  Evaluation  Purchase decision  Postpurchase behavior  6-17 Sources of Information Personal  Commercial  Public  Experiential  6-18 Non-compensatory Models of Choice Conjunctive  Lexicographic  Elimination-by-aspects  6-19 Perceived Risk    Functional Physical Financial    Social Psychological Time 6-20 Other Theories of Consumer Decision Making Involvement  Elaboration Likelihood Model  Low-involvement marketing strategies  Variety-seeking buying behavior Decision Heuristics  Availability  Representativeness  Anchoring and adjustment 6-21 Mental Accounting  Consumers tend to…  Segregate gains  Integrate losses  Integrate smaller losses with larger gains  Segregate small gains from large losses 6-22 [...]... Perceived Risk    Functional Physical Financial    Social Psychological Time 6 -20 Other Theories of Consumer Decision Making Involvement  Elaboration Likelihood Model  Low-involvement marketing strategies  Variety-seeking buying behavior Decision Heuristics  Availability  Representativeness  Anchoring and adjustment 6 -21 Mental Accounting  Consumers tend to…  Segregate gains  Integrate losses... Representativeness  Anchoring and adjustment 6 -21 Mental Accounting  Consumers tend to…  Segregate gains  Integrate losses  Integrate smaller losses with larger gains  Segregate small gains from large losses 6 -22 ... Religion  Politics  Economics Family of Procreation  Everyday buying behavior 6-11 Personal Factors     Age Life cycle stage Occupation Wealth     Personality Values Lifestyle Self-concept 6- 12 Brand Personality Sincerity  Excitement  Competence  Sophistication  Ruggedness  6-13 Key Psychological Processes Motivation  Perception  Learning  Memory  6-14 Motivation Freud’s theory  Maslow’s