S03 - 3010 - Buyer Behavior

S03 3010 Buyer - PROFESSIONAL SELLING MKTG 3010 Spring 2011 2 Section 3 MKTG 3010 RM 2 Consumer and Buyer Behavior Why do we buy what we buy –

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Unformatted text preview: PROFESSIONAL SELLING MKTG 3010 Spring 2011 2 Section 3 MKTG 3010 RM 2 Consumer and Buyer Behavior Why do we buy what we buy? – What influences impact our purchase decisions? 3 Section 3 MKTG 3010 RM 3 What Drives Purchasing Decisions? Needs & Wants are motivations that drive action – Needs are “must haves”, that arise from a state of deprivation, or a problem to be solved State: thirst => Need: drink – Wants are “like to haves”, that represent a form of need shaped by culture and individual personality State: thirst => Want: Coca-Cola – E.g. Preferences for brands are wants 4 Section 3 MKTG 3010 RM 4 People Seek to Fulfill Needs Customers have needs and wants Customers look for solutions to fulfill needs and wants. – A solution is the combination of products, services, information, or experiences offered to a market. Customers obtain (buy) the “best” solution (from the alternatives) to fulfill their needs. – Customers are rational – Customers act in their own self interest The role of sales is to ensure that the customer needs are best matched by the company’s solution. 5 Section 3 MKTG 3010 RM 5 How Needs Develop into Action At first, all is perfect Then, there is a slight change (or imperfection) that leads to discontent or dissatisfaction – but we live with it; work around it Then. it may evolve into a real problem, or shortcoming – but we’re not ready to change - yet Then, “there must be a better way” – now there is need (a.k.a. PAIN ) with a desire to take action 6 Section 3 MKTG 3010 RM 6 People have Many Needs Maslow’s Hierarchy of Needs Self-Actualization: self fulfillment, creative expression Esteem: prestige, status Belonging: love, friendship, acceptance Safety: security, shelter, order Physiological: water, food, sleep Solutions may fulfill needs at multiple levels HIGHER LOWER 7 Section 3 MKTG 3010 RM 7 Consumer and Buyer Behavior Most purchasing transactions fall into one of two categories: – Business to Consumer (B2C) Consumer buys for own personal or household use – Business to Business (B2B) Purchaser buys on behalf of an organization 8 Section 3 MKTG 3010 RM 8 Consumer Buying Behavior How people think about, buy and use goods and services for personal use in response to marketing messages and other stimuli – Consumer buys for own personal or household use – Typically one-on-one discussion – E.g. car, telephone service, personal computer 9 Section 3 MKTG 3010 RM 9 Societal & Environmental Trends Factors Influencing Consumer Behavior Cultural Social Personal Psychological (See Additional Slides for more detail) 10 Section 3 MKTG 3010 RM Factors Influencing Consumer Behavior...
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This note was uploaded on 01/21/2011 for the course MKTG 3010 taught by Professor Morris during the Spring '09 term at North Texas.

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S03 3010 Buyer - PROFESSIONAL SELLING MKTG 3010 Spring 2011 2 Section 3 MKTG 3010 RM 2 Consumer and Buyer Behavior Why do we buy what we buy –

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