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kotler05_basic - Consumer Markets and Consumer Buyer...

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Unformatted text preview: Consumer Markets and Consumer Buyer Behavior Chapter 5 5 - 2 Learning Goals 1. Learn the consumer market and construct model of consumer buyer behavior 2. Know the four factors that influence buyer behavior 3. Understand the types of buying decision behavior and stages in the process 4. Comprehend the adoption and diffusion process for new products 5 - 3 Case Study Harley Davidson Building Success • Understanding the customers’ emotions and motivation • Determining the factors of loyalty • Translating this information to effective advertising Measuring Success • Currently 22% of all U.S. bike sales • Demand above supply • Sales doubled in the past 5 years with earnings tripled. 5 - 4 Definitions • Consumer buyer behavior refers to the buying behavior of final consumers – individuals and households who buy goods and services for personal consumption • All of these final consumers combine to make up the consumer market Goal 1: Learn the consumer market & construct model of buyer behavior 5 - 5 Stimulus-Response Model of Consumer Behavior Stimuli 4P’s Other characteristics • economic • technological • political • cultural Buyer Response Product choice Brand choice Dealer choice Purchase timing Purchase amount Buyer’s Black Box Buyer characteristics Buyer decision process Goal 1: Learn the consumer market & construct model of buyer behavior 5 - 6 Characteristics Affecting Consumer Behavior Culture • Forms a person’s wants and behavior Subculture • Groups with shared value systems Social Class • Society’s divisions who share values, interests and behaviors Cultural Social Personal Psychological Key Factors Key Factors Goal 2: Know the four factors that influence consumer buying behavior 5 - 7 Characteristics Affecting Consumer Behavior Groups • Membership • Reference – Aspirational • Opinion Leaders – Buzz marketing Family • Many influencers Roles and Status Cultural Social Personal Psychological Key Factors Key Factors Goal 2: Know the four factors that influence consumer buying behavior 5 - 8...
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kotler05_basic - Consumer Markets and Consumer Buyer...

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