case study chapter 5 mkt101

CONSUMER MARKETS AND CONSUMER BUYER BEHAVIOR TEAM Truong N g o c Thanh P h u o n g Nguyen Gia My Tran H o ng Nhi Nguyen Q u o c Kha nh Tran Thi A n h OUR A GENDA 1.Model o f Consumer Behavior 2.Characterist Affe ct in g Consumer Behavior 3.Types of Buying Decision Behavior The Buyer Decision Process 5.The Buyer Decision Process o f N e w Product MODEL OF CUSTOMER BEHAVIOUR caf f co CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR CULTURE FACTOR CULTURE Vietnamese people , when buying a product , are always influenced by the cultural elements bearing national identity affect the value of choice They often buy products that feel comfortable about prestige and quality so rarely change app.co CULTURE The social class is based not only on the single factor of income , but also on the combination of occupation , income , education , wealth , and other factors In life, one can rise to a higher level of society, or fall into a lower class app.c o SOCIAL NEED RECOGNITION Internal stimuli: hunger driven External stimuli: an advertisement or commercial involving Soy milk INFORMATION RESEARCH Personal source: asking peers where they get Soy milk Experiential source: performing online search to research E VA LUAT I O N O F A LT E R N A T I V E S Determining value of options Dependent upon personal preferences of consumer (freshness, quality, visual appeal, price, ingredients) PURCHASE DECISION Attitude of others: what peers think of decision Base on factorts like income and desired price of product POST-PURCHASE D E C I S I O N How consumer feels after the purchase desicion they made Whether they regret spending more money for a Soy milk or feel as though the end product was worth the money Will the coonsumer make the same buying decision again THE BUYER DECISION PROCESS FOR NEW PRODUCTS New product is a good, service, or idea that is perceived by some potential customers as new Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use S TA G E S IN T H E A D O P T I O N PROCESS Awareness is when the consumer becomes aware of the new product but lacks information app.co caf f co I n t e r e s t is when the consumer seeks information about the new product Evaluation is when the consumer considers whether trying the new product makes sense Trial is when the consumer tries the new product to improve his or her estimate of value Adoption is when the consumer decides to make full and regular use of the product INDIVIDUAL DIFFERENCES IN I N N O VAT I O N Early adopters are opinion leaders and adopt new ideas early but cautiously Early majority are deliberate and adopt new ideas before the average person INDIVIDUAL DIFFERENCES IN I N N O VAT I O N Late majority are skeptical and adopt new ideas only after the majority of people have tried it Laggards are suspicious of changes and adopt new ideas only when they become tradition INFLUENCE OF PRODUCT CHARACTERISTICS ON RATE OF ADOPTION Relative advantage is the degree to which an innovation appears to be superior to existing products Compatibility is the degree to which an innovation fits the values and experiences of potential consumers INFLUENCE OF PRODUCT CHARACTERISTICS ON RATE OF ADOPTION Complexity is the degree to which the innovation is diffi cult to understand or use Divisibility is the degree to which the innovation may be tried on a limited basis ... 2.Characterist Affe ct in g Consumer Behavior 3.Types of Buying Decision Behavior The Buyer Decision Process 5. The Buyer Decision Process o f N e w Product MODEL OF CUSTOMER BEHAVIOUR caf f co CHARACTERISTICS