Lecture Marketing (11/e): Chapter 5 – Kerin, Hartley, Rudelius

After reading chapter 5, you should be able to: Describe the stages in the consumer purchase decision process; distinguish among three variations of the consumer purchase decision process: routine, limited, and extended problem solving; identify major psychological influences on consumer behavior; identify the major sociocultural influences on consumer behavior.

McGraw­Hill/Irwin                                                                                                                                                          Copyright  © 2013 by The McGraw­Hill Companies, Inc.  All rights reserved 5-1 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 5, YOU SHOULD BE ABLE TO: LO1 LO2 Describe the stages in the consumer purchase decision process Distinguish among three variations of the consumer purchase decision process: routine, limited, and extended problem solving 5-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 5, YOU SHOULD BE ABLE TO: LO3 Identify major psychological influences on consumer behavior LO4 Identify the major sociocultural influences on consumer behavior 5-3 ENLIGHTENED CARMAKERS KNOW WHAT CUSTOM(H)ERS VALUE  The Sense of Styling  The Need for Speed  The Substance of Safety  The Shopping Experience 5-4 FIGURE 5-1 The purchase decision process consists of five stages 5-5 LO1 CONSUMER PURCHASE DECISION PROCESS PROBLEM RECOGNITION  Consumer Behavior  Purchase Decision Process 5-6 LO1 CONSUMER PURCHASE DECISION PROCESS INFORMATION SEARCH  Internal Search  External Search • Personal Sources • Public Sources • Marketer-Dominated Sources 5-7 FIGURE 5-2 Consumer Reports’ evaluation of smart phones 5-8 LO1 CONSUMER PURCHASE DECISION PROCESS ALTERNATIVE EVALUATION  Evaluative Criteria  Consideration Set 5-9 LO1 CONSUMER PURCHASE DECISION PROCESS PURCHASE DECISION  Decide from Whom to Buy  Decide When to Buy 5-10 Perception Perception is the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world 5-57 Subliminal Perception Subliminal perception involves seeing or hearing messages without being aware of them 5-58 Perceived Risk Perceived risk is the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences 5-59 Learning Learning consists of those behaviors that result from (1) repeated experience and (2) reasoning 5-60 Brand Loyalty Brand loyalty is a favorable attitude toward and consistent purchase of a single brand over time 5-61 Attitude An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way 5-62 Beliefs Beliefs are a consumer’s subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people 5-63 Lifestyle Lifestyle is a mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them 5-64 Opinion Leaders Opinion leaders are individuals who exert direct or indirect social influence over others 5-65 Word of Mouth Word of mouth involves the influencing of people during conversations 5-66 Reference Groups Reference groups consists of people to whom an individual looks as a basis for self-appraisal or as a source of personal standards 5-67 Consumer Socialization Consumer socialization is the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers 5-68 Family Life Cycle A family life cycle consists of the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors 5-69 Social Class Social class is the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped 5-70 Subcultures Subcultures are the subgroups within the larger, or national, culture with unique values, ideas, and attitudes 5-71 ... Self-Actualization Needs 5- 18 FIGURE 5- 5 Hierarchy of needs Match.com 5- 19 LO3 PSYCHOLOGICAL INFLUENCES ON CONSUMER BEHAVIOR PERSONALITY  Personality  Traits  Self-Concept 5- 20 LO3 PSYCHOLOGICAL... Routine Problem Solving 5- 13 FIGURE 5- 3 Comparison of problem-solving variations: extended, limited, and routine 5- 14 LO2  CONSUMER PURCHASE DECISION PROCESS INVOLVEMENT & MARKETING STRATEGY Low... Marketer-Dominated Sources 5- 7 FIGURE 5- 2 Consumer Reports’ evaluation of smart phones 5- 8 LO1 CONSUMER PURCHASE DECISION PROCESS ALTERNATIVE EVALUATION  Evaluative Criteria  Consideration Set 5- 9 LO1 CONSUMER