Kotler Keller 06

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Transcript Kotler Keller 06

Analyzing Consumer Markets

Marketing Management A South Asian Perspective, 13 th ed

Chapter Questions

• How do consumer characteristics influence buying behavior?

• What major psychological processes influence consumer responses to the marketing program?

• How do consumers make purchasing decisions?

• How do marketers analyze consumer decision making?

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Tata Steel used steeljunction ® to encourage consumers to go steel shopping and to develop deeper understanding of individual and household customers.

6-3

What Influences Consumer Behavior?

6-4

What is Culture?

Culture

is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions.

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Subcultures

6-6

Social Classes

6-7

Characteristics of Social Classes

• Within a class, people tend to behave alike • Social class conveys perceptions of inferior or superior position • Class may be indicated by a cluster of variables (occupation, income, wealth) • Class designation is mobile over time Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.

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Social Factors

Statuses 6-9

Reference Groups

Aspirational groups Dissociative groups 6-10

Provogue uses teenage icons as brand ambassadors and a youth targeted website to connect to its customers

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Radio Shack Targets Women with Female Store Managers

6-12

Roles and Status

What degree of status is associated with various occupational roles?

6-13

Personal Factors

6-14

The Family Life Cycle

6-15

Brand Personality

Sincerity Excitement Competence Sophistication Ruggedness 6-16

Lifestyle Influences

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Faysal Bank of Pakistan has extended banking hours for time-pressed executives.

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Table 6.2 LOHAS (Lifestyles of Health and Sustainability) Market Segments

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Figure 6.1 Model of Consumer Behavior

6-20

Key Psychological Processes

Memory 6-21

Motivation Freud’s Theory

Behavior is guided by subconscious motivations

Maslow’s Hierarchy of Needs

Herzberg’s Two-Factor Theory

Behavior is guided by motivating and hygiene factors 6-22

Maslow’s Hierarchy of Needs

6-23

Herzberg’s Two-Factor Theory

6-24

Perception

Subliminal Perception 6-25

Figure 6.3 State Farm Mental Map

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Figure 6.4 Consumer Buying Process

6-27

Problem Recognition

6-28

Sources of Information

6-29

Figure 6.5 Successive Sets Involved in Consumer Decision Making

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Table 6.8 Sales and Product Life Cycle

6-31

Figure 6.6 Stages between Evaluation of Alternatives and Purchase

6-32

Non-Compensatory Models of Choice

6-33

Perceived Risk

6-34

Figure 6.7 How Customers Use and Dispose of Products

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Rural Consumer Behaviour

• Rural consumers are more brand loyal • Restrictions on consumption • Collective consumption behaviour: for family rather than individual • Seasonality of consumption based on seasonality of agricultural production/income • Specific patterns in the five-stage buying decision process Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.

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Other Theories of Consumer Decision Making Involvement

• Elaboration Likelihood Model • Low-involvement marketing strategies • Variety-seeking buying behavior

Decision Heuristics

6-37

Mental Accounting

6-38

Marketing Debate

 Is target marketing ever bad?

Take a position: 1. Targeting minorities is exploitive.

2. Targeting minorities is a sound business practice.

6-39

Marketing Discussion

 Do you have rules you employ in spending money?

 Do you follow Thaler’s four principles in reacting to gains and losses?

6-40

Kotler Keller 06

Transcript Kotler Keller 06

Analyzing Consumer Markets

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