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Mktg431StudyGuideLecture03
Course: MKTG 431, Spring 2012School: S.F. State
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3 Lecture Consumer Markets II Chapter 5 Factors that influence buying *Purchasing is problem solving *Consumers are not rational *Otherwise, everybody would be using Macintosh *Behavioral economics *Behavior is biased *The reason marketing is so difficult is that you are only one of several factors that influence purchasing 0100090000038d00000002001c00000000000400000003010800050000000b02000000000500...
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3 Lecture Consumer Markets II Chapter 5
Factors that influence buying
*Purchasing is problem solving
*Consumers are not rational
*Otherwise, everybody would be using Macintosh
*Behavioral economics
*Behavior is biased
*The reason marketing is so difficult is that you are only one of several factors that influence purchasing
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22253797374656d0076102768004c98210019e2b1768001b676e0b96e0058982100040000002
d010000040000002d0100001c000000fb02a4ff0000000000009001000000000440002243616c6
962726900000000000000000000000000000000000000000000000000040000002d010100040
000002d010100040000002d0101000400000002010100050000000902000000020d000000320
a570000000100040000000000e906b6032000360005000000090200000002040000002d01000
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*And you are by no means the most important
Psychological factors
*Motivation
*In psychology we call them drives
*Two basic sources
*Physiological
*Food
*Psychological
*Friends
*Some needs are more motivating than others
*Maslows pyramid
*Point basic needs must be satisfied before higher level needs become motivators
*People are not always consciously aware of their true motivation
*Social disapproval
*Self-image maintenance
*Personality
*Self concept
*Actual self image
Study Guide for lecture 3 Consumer behavior 2 8-29-11 page1
*How you see yourself
*Ideal self image
*How you would like to see yourself
*Consumption is an important factor
*Social goods
*Do people really pay $100,000 for a car because it runs better?
*Different people are different
*Personality traits
*Innovativeness
*Self-confidence
*Sociability
*Myers-Briggs Typology
*Extrovert-Introvert
*Sensing-Intuitive
*Thinking-Feeling
*Judgment-Perception
*Perception
*How we interpret the world
*Threshold level of perception
*Just noticeable difference
*Cognitive miserliness
*People do the least amount of thinking possible to solve a problem
*Result: First acceptable solution rather than the best solution
*Selective Perception
*Selective attention
*We ignore things that are present
*Selective interpretation
*Confirmation bias
*We see things that arent there
*Selective retention
*We remember in categories
*Dissociation of object and evaluation over time
*Familiarity effect
*Perceived Risk
*Hard to assess
*Loss aversion principle
*Work harder to avoid losing $100 that you thought was yours than you would to
earn $100.
*Threshold level of perception
*Just noticeable difference
*How much different does something have to be to get noticed
*20% price change
*Belief
*Organized pattern of knowledge an that individual holds to be true
*Attitude
*Learned predisposition to respond to an object or class of objects in a consistently favorable or
unfavorable way
*Learned
*Have an object
*Have valence
*Relatively stable
*Learned
*Attitudes change over time
*Experiential learning
*Experience with the product
*Post purchase evaluation
*Conceptual learning
*Observing others
*Have an object
*You cant just have attitude
*Have valence
*Cognitive and affective components
*Beliefs
*Either good or bad, never neutral
*Relatively stable
*Branding is based on attitude
*A brand is an attitude about a product
*More on this later
*Brand loyalty takes advantage of the fact that attitudes are relatively stable over time
Social Influence
*Family
*Consumer socialization
*We learn how to consume from our family
*Brand preferences by age 2
*Attitudes
*The patterns we take with us for the rest of our lives are largely in place by age 16
*Culture
*The set of values, norms, attitudes and other meaningful symbols that shape human behavior and
the artifacts, or products of that behavior as they are transmitted from one generation to the
next
*Food preferences
Study Guide for lecture 3 Consumer behavior 2 8-29-11 page3
*Socially acceptable behavior is frequently cultural
*Rituals
*Subcultures
*A homogeneous group of people who share elements of the overall culture as well as unique
elements of their own group
*A way for a group of people to maintain a sense of identity within a larger population
*According to Bruce:
*We have more choice in the subcultures we adopt
*This makes them important as segmentation variables
*Consumption is a way to affirm our choice
*Reference Groups
*An actual or imaginary individual or group that has a significant effect on an individuals
evaluations, aspirations, or behavior
*Membership groups
*Conformity group identity
*Aspirational groups
*Heroes role models
*Dissociative groups
*Social Class
*The relatively permanent, homogeneous divisions in a society into which people sharing similar
values, interests and behavior can be grouped
*Varies from culture to culture
*In this country, wealth is an important criterion
*In other countries ancestry is more important
Situational factors
*Task
*Atmospherics
*Physical surroundings
*Social surroundings
*Temporal
*Time of day
*How rushed you are
*Mood (antecedent states)
*How you feel at that moment
*Rich
*Happy
Information
*Social sources
*Opinion leaders
*Word of mouth
*Commercial sources
*Exposed to 2500 in a day
*Notice 11-20
*Point it is expensive and difficult to convince people to buy your product through advertising
Study Guide for lecture 3 Consumer behavior 2 8-29-11 page5
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