marketing chapter 37

marketing chapter 37 - Chapter 5 Consumer and Business...

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Chapter 5 Consumer and Business Buyer Behavior Previewing the Concepts—Chapter Objectives 1. Understand the consumer market and the major factors that influence buyer behavior. 2. Identify and discuss the stages in the buyer decision process. 3. Describe the adoption and diffusion process for new products. 4. Define the business market and identify the major factors that influence business buyer behavior. 5. List and define the steps in the business buying decision process. J UST THE B ASICS Chapter Overview Buying behavior is at the core of marketing; the knowledge and understanding of why we buy and how we buy should be the bedrock of every marketing program. This chapter covers both consumer and business buying behavior. Consumer behavior incorporates concepts from both sociology and psychology. To understand consumers and their buying processes, therefore, is to understand the myriad influences encountered day in and day out. Cultural, social, personal, and psychological factors affecting buying behavior are explained. These factors clarify the why of buying. The chapter also details the how of buying, by covering the consumer buying process. This process includes the stages of need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. The buyer decision process for new products and information on consumer behavior internationally are covered as well. Business markets are also defined and analyzed. The differences between the consumer buying process and the business buying process are highlighted, as is the nature of the buying unit in business markets. Also discussed is business buying on the Internet. Chapter Outline 1. Introduction a. Buyers of Harley-Davidson motorcycles are intensely loyal and devoted to the brand. Because of this, Harley-Davidson is at the top of the heavyweight motorcycle market. 109
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b. Harley-Davidson’s marketing managers spend a lot of time studying their buyers—they want to know who their customers are, what they think, how they feel, and why they buy a Harley rather than another brand. c. Their research revealed seven core types: adventure-loving traditionalists, sensitive pragmatists, stylish status seekers, laid-back campers, classy capitalists, cool-headed loners, and cocky misfits. Yet all Harley owners appreciated their bikes for the same basic reasons—independence, freedom, and power. d. The example of Harley-Davidson shows that there are many factors that affect consumer buying behavior. 2. Consumer Markets and Consumer Buying Behavior a. Consumer buying behavior refers to the buying behavior of final consumers—individuals and households who buy goods and services for their own consumption. All of these consumers make up the consumer market . b.
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marketing chapter 37 - Chapter 5 Consumer and Business...

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