Chapter 5

Chapter 5 - Marketing Chapter 5 Final Consumers and Their...

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Unformatted text preview: Marketing Chapter 5 Final Consumers and Their Buying Behavior Person making decisions- Economic needs- Psychological variables- Social influences- Purchase situation Economic Needs Affect Most Buying Decisions- Economics buyers: people who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money.- Economic Needs: concerned with making the best use of a consumers time and money. Examp. o Economy of purchase or use o Efficiency in operation or use o Dependability in use o Improvement of earnings o Convenience.- Discretionary income: what is left of income after paying taxes and paying for necessities o Elusive, how do you define necessities Psychological influences- Needs: basic forces that motivate a person to do something o Many are culturally learned- Wants: needs that are learned during a persons life. - Drive: a strong stimulus that encourages action to reduce a need. o Cause people to purchase to satisfy a need- The PSSP Hierarchy of Needs (big to small) o Physiological: biological needs o Safety: protection and physical well-being (health, financial security, medicine, exercise) o Social: love, friendship, status, and esteem. Helping people connect with others inspires positive feelings about a product....
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This note was uploaded on 02/22/2012 for the course BUSI 406 taught by Professor Perreault during the Fall '11 term at UNC.

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Chapter 5 - Marketing Chapter 5 Final Consumers and Their...

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