MKT 3210 Lecture Note 4_inppt_04.pptx - Principles of...

Principles of Marketing
Chapter 5:
Consumer Markets
and Buyer Behavior
5-1

Consumer Markets and Buyer Behavior
5-2

•
GoPro’s runaway success comes from a deep-down understanding of
what makes its customers tick. More than just selling tiny, wearable
HD video cameras, GoPro helps people capture, share, and celebrate
with others the most meaningful experiences in their lives.
•
The GoPro story shows that factors at many levels affect consumer
buying behavior. Buying behavior is never simple, yet understanding it
is an essential task of marketing management. Consumer buyer
behavior refers to the buying behavior of final consumers—
individuals and households that buy goods and services for personal
consumption. All of these final consumers combine to make up the
consumer market. The American consumer market consists of more
than 318 million people who consume more than $16 trillion worth of
goods and services each year, making it one of the most attractive
consumer markets in the world.

Consumer Markets and Buyer Behavior
Consumer buyer behavior is the buying
behavior of final consumers—individuals
and households that buy goods and
services for personal consumption.
Consumer markets are made up of all the
individuals and households that buy or
acquire goods and services for personal
consumption.
5-6

Model of Consumer Behavior
5-7
This figure shows that marketing and other stimuli enter the consumer’s “black
box” and produce certain responses. Marketers must figure out what is in the
buyer’s black box.

Characteristics Affecting Consumer Behavior
Cultural Factors
Factors Influencing Consumer Behavior
5-10
Consumer purchases are influenced strongly by cultural, social, personal, and
psychological characteristics, as shown in Figure 5.2. For the most part, marketers
cannot control such factors, but they must take them into account.

Characteristics Affecting Consumer Behavior
Cultural Factors
Culture is the set of basic values, perceptions, wants,
and
behaviors
learned by a member of society from
family and other important institutions.
5-11
Cultural factors exert a broad and deep influence on consumer behavior. Marketers need
to understand the role played by the buyer’s culture, subculture , and social class .
Marketers are always trying to spot cultural shifts so as to discover new products that
might be wanted. For example, the cultural shift toward greater concern about health
and fitness has created a huge industry for health-and-fitness services, exercise
equipment and clothing, organic foods, and a variety of diets.

Characteristics Affecting Consumer Behavior
Cultural Factors
•
Subcultures are groups of people within a
culture with shared value systems based
on common life experiences and
situations. (Subcultures include
nationalities, religions, racial groups, and
geographic regions. )
•
Cross-cultural marketing is the practice of
including ethnic themes and cross-cultural
perspectives within mainstream
marketing. Cross-cultural marketing
appeals to consumer similarities across