Exam 2 Review - Chapter 6 Final Consumers and Their Buying Behavior 23:35:00 ← Consumer Behavior Why do they buy what they buy • Focus on what

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Unformatted text preview: Chapter 6: Final Consumers and Their Buying Behavior 24/02/2008 23:35:00 ← Consumer Behavior: Why do they buy what they buy? • Focus on what affects a person’s buying behavior o Economic needs o Psychological variables o Social influences o Purchase situation ← ← ← Economic Needs Affect Most Buying Decisions ← ← Economic Buyers – People who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money • Most economists assume that consumers are this type of buyer ← ← Economic Needs – Needs concerned with making the best use of a consumer’s time and money - as the consumer judges it • Some consumer’s look for the lowest price or pay more convenience • This view assumes that economic needs guide most consumer behavior o Examples of Economic Needs Economy of purchase or use Convenience Efficiency in operation or use Dependability in use Improvement of earnings • Economic value is an important factor in many purchase decisions Exhibit 6-1: Consumer Behavior for Marketing Strategy Planning Exhibit 6-2: A Model of Influences on Consumer Behavior Psychological Influences Within an Individual • Everybody is motivated by needs and wants o Needs The basic forces that motivate a person to do something Are more basic than wants o Wants “Needs” that are learned during a person’s life o Drive A strong stimulus that encourages action to reduce a need In marketing, a product purchase results from a drive to satisfy some need Internal reasoning behind some behavioral patterns When a need is not satisfied, it may lead to a drive ← ← Exhibit 6-3: Possible Needs Motivating a Person to Some Action ← ← 4 Level Hierarchy of Needs (Several reasons for buying at the same time – Particular product may satisfy more than one need at the same time) • Physiological Needs o Needs concerned with biological needs o Examples: Food, drink rest, and sex • Safety Needs o Needs concerned with protection and physical well-being o Examples: Health, food, medicine, and exercise • Social Needs o Needs concerned with things that involve a person’s interaction with others o Examples: Love, friendship, status, and esteem • Personal Needs o Needs concerned with an individual’s need for personal satisfaction, unrelated to what others think or do o Examples: Self-esteem, accomplishment, fun, freedom, and relaxation Motivation Theory • We never reach a state of complete satisfaction • As soon as we get our lower-level needs reasonably satisfied, those at higher...
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This note was uploaded on 04/22/2009 for the course MKT 320F taught by Professor Miller during the Spring '08 term at University of Texas at Austin.

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Exam 2 Review - Chapter 6 Final Consumers and Their Buying Behavior 23:35:00 ← Consumer Behavior Why do they buy what they buy • Focus on what

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