Transcript Chapter05.ppt

MARKETING MANAGEMENT
Analyzing
Consumer Markets
5-1
Influences on Consumer Behavior
• Cultural Factors
• Social Factors
– Reference Groups
– Family, Roles
• Personal factors
– Age and “stage”
– Economics (income, education)
– Personality
– Lifestyle and Values
5-2
Psychological approaches
MOTIVATION, PERCEPTION & LEARNING
– “Drives”
• Freud
• Maslow
• Hertzberg
– “Learning”
• Pavlov
• Skinner
– “Cognitive”
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Rational Model of Product Disposal
6-7
Other Models of Decision Making
Involvement
Decision Heuristics
• Elaboration
Likelihood Model
• Availability
• Low-involvement
marketing
strategies
• Anchoring and
adjustment
• Representativeness
• Variety-seeking
buying behaviour
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Elaboration Likelihood Model
• Petty & Caccioppo
– Two questions:
• Motivation to process?
• Ability to process?
– When YES to both: HIGH elaboration
• Central cues
–product
– When NO: LOW elaboration
• Peripheral cues –source or ad
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INVOLVEMENT
Decoding is ACTIVE
– That is, it requires EFFORT
– When will people to spend effort?
• 1. When they CARE about what you’re saying
–personal relevance
This is the concept of INVOLVEMENT
The personal relevance of the product
interest, price
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Involvement transfer?
Can a high level of involvement (e.g., for
a sports team) transfer to a low
involvement commercial product?
• Celebrity effects?
• “Vanity” credit cards
http://www.mbna.ca/hockey_cardlist.html
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