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05-Consumer Markets - ConsumerMarketsand *Powerpoints...

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1 *Powerpoints refined from Pearson Consumer Markets and  Consumer Buyer Behavior
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2 Outline 1. Model of Consumer Behavior 2. Characteristics Affecting Consumer Behavior 3. Types of Buying Decision Behavior 4. The Buyer Decision Process 5. The Buyer Decision Process for New Products 6. Consumer Behavior Across International Borders
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3 Model of Consumer Behavior Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households who buy goods and services for personal consumption Consumer market refers to all of the personal consumption of final consumers
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4 Model of Consumer Behavior How do consumers respond to various marketing efforts the company might use?
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5 Model of Consumer Behavior Marketing stimuli consists of the four P s P roduct P rice P lace P romotion Other stimuli include: Economic forces Technological forces Political forces Cultural forces
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6 Characteristics Affecting Consumer Behavior Cultural factors Buyer’s culture Buyer’s subculture Buyer’s social class Social factors Reference groups Family Roles and status
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7 Characteristics Affecting Consumer Behavior Personal factors Age and life-cycle stage Occupation Economic situation Lifestyle Personality and self- concept Psychological Factors Motivation Perception Learning Beliefs and attitudes
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8 Characteristics Affecting Consumer Behavior Factors Influencing Consumer Behavior
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9 Characteristics Affecting Consumer Behavior Culture is the learned values, perceptions, wants, and behavior from family and other important institutions
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10 Characteristics Affecting Consumer Behavior Subculture are groups of people within a culture with shared value systems based on common life experiences and situations Hispanic African American Asian Mature consumers
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11 Characteristics Affecting Consumer Behavior Social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors Measured by a combination of occupation, income, education, wealth, and other variables
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12 Characteristics Affecting Consumer Behavior The Major American Social Classes Upper class Middle class Working class Lower class
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13 Characteristics Affecting Consumer Behavior Social Factors Groups Membership groups have a direct influence and to which a person belongs Aspirational groups are groups an individual wishes to belong to Reference groups are groups that form a comparison or reference in forming attitudes or behavior
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14 Characteristics Affecting Consumer Behavior Social Factors Groups Opinion leaders are people within a reference group with special skills, knowledge, personality, or other characteristics that can exert social influence on others Buzz marketing enlists opinion leaders to spread the word Social networking is a new form of buzz marketing MySpace.com Facebook.com
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