Lamb, Hair, McDaniel MKTG2007-2008 5 CHAPTER Chapter 5 Consumer Decision Making Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 1 Learning Outcomes LO1 Explain why marketing managers should understand consumer behavior LO2 Analyze the components of the consumer decision-making process LO3 Explain the consumer’s postpurchase evaluation process Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 2 Learning Outcomes LO4 Identify the types of consumer buying decisions and discuss the significance of consumer involvement LO5 Identify and understand the cultural factors that affect consumer buying decisions LO6 Identify and understand the social factors that affect consumer buying decisions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 3 Learning Outcomes LO7 Identify and understand the individual factors that affect consumer buying decisions LO8 Identify and understand the psychological factors that affect consumer buying decisions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 4 LO1 The Importance of Understanding Consumer Behavior Explain why marketing managers should understand consumer behavior Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 5 Consumer Behavior Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use. LO1 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 6 LO1 REVIEW LEARNING OUTCOME Understanding Consumer Behavior consumers make purchase decisions Consumer behavior = HOW consumers use and dispose of product Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 7 LO2 The Consumer Decision-Making Process Analyze the components of the consumer decision-making process Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 8 Consumer Decision-Making Process Consumer Decision-Making Process A five-step process used by consumers when buying goods or services. LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 9 Consumer Decision-Making Process Need Recognition Cultural, Social, Individual and Psychological Factors affect all steps LO2 Chapter 5 Information Search Evaluation of Alternatives Purchase Postpurchase Behavior Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 10 Need Recognition Need Recognition Result of an imbalance between actual and desired states. LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 11 Need Recognition Present Status LO2 Chapter 5 Preferre d State Marketing helps consumers recognize an imbalance between present status and preferred state. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 12 Stimulus Stimulus Any unit of input affecting one or more of the five senses: sight smell taste touch hearing LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 13 Recognition of Unfulfilled Wants When a current product isn’t performing properly When the consumer is running out of a product When another product seems superior to the one currently used LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 14 Information Search Internal Information Search Recall information in memory External Information search Seek information in outside environment Nonmarketing controlled Marketing controlled LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 15 External Information Searches Need Less Information Less Risk More knowledge More product experience Low level of interest Confidence in decision Need More Information More Risk Less knowledge Less product experience High level of interest Lack of confidence LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 16 Evoked Set Evoked Set Group of brands, resulting from an information search, from which a buyer can choose LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 17 Evaluation of Alternatives and Purchase Evoked Set Analyze product attributes Use cutoff criteria Rank attributes by importance LO2 Purchase! Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 18 Purchase To buy or not to buy... Determines which attributes are most important in influencing a consumer’s choice LO2 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 19 LO2 REVIEW LEARNING OUTCOME Consumer Decision-Making Process Need 1 Recognition Information Search 2 Evaluate 3 Alternatives Purchase 4 SOCIAL CULTURAL INDIVIDUAL PSYCHOLOGICAL Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 20 LO3 Cognitive Dissonance Cognitive Dissonance Chapter 5 Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 21 LO3 Postpurchase Behavior Consumers can reduce dissonance by: Seeking information that reinforces positive ideas about the purchase Avoiding information that contradicts the purchase decision Revoking the original decision by returning the product Marketing can minimize through: Effective Communication Follow-up Guarantees Warranties Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 22 Consumer Buying Decisions LO3 and Consumer Involvement Identify the types of consumer buying decisions and discuss the significance a of consumer involvement Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 23 Consumer Buying Decisions and Consumer Involvement Routine Response Behavior Less Involvement Limited Decision Making Extensive Decision Making More Involvement LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 24 Five Factors Influencing Decisions 1. Level of consumer involvement 2. Length of time to make decision 3. Cost of good or service 4. Degree of information search 5. Number of alternatives considered LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 25 Continuum of Consumer Buying Decisions LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 26 Routine Response Behavior Little involvement in selection process Frequently purchased low cost goods May stick with one brand Buy first/evaluate later Quick decision LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 27 Limited Decision Making Low levels of involvement Low to moderate cost goods Evaluation of a few alternative brands Short to moderate time to decide LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 28 Extensive Decision Making High levels of involvement High cost goods Evaluation of many brands Long time to decide May experience cognitive dissonance LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 29 Factors Determining the Level of Consumer Involvement Previous Experience Interest Perceived Risk of Negative Consequences Situation LO3 Chapter 5 Social Visibility Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 30 Marketing Implications of Involvement High-involvement purchases require: Extensive and informative promotion to target market Low-involvement purchases require: In-store promotion, eye-catching package design, and good displays. Coupons, cents-off, 2-for-1 offers LO3 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 31 LO3 REVIEW LEARNING OUTCOME Consumer Buying Decisions and Consumer Involvement Previous experience Interest Perceived risk of negative consequences Situation Social visibility Extensive Limited Routine Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 32 LO4 Cultural Influences on Consumer Buying Decisions Identify and understand the cultural factors that affect consumer buying decisions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 33 LO4 Factors Influencing Buying Decisions Cultural Factors Social Factors Individual Factors Chapter 5 Psychological Factors CONSUMER DECISIONMAKING PROCESS BUY / DON’T BUY Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 34 LO4 Culture Culture Chapter 5 Set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 35 LO4 Components of Culture Values Language Myths Customs Rituals Laws Material artifacts Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 36 LO4 Culture is. . . Pervasive Functional Learned Dynamic Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 37 LO4 Value Value Chapter 5 Enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 38 LO4 Core American Values Success Materialism Freedom Progress Youth Capitalism http://www.thesource.com Online Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 39 LO4 Subculture Subculture A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group. http://www.dead.net Online Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 40 LO4 Social Class Social Class Chapter 5 A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 41 LO4 Social Class Measurements Occupation Income Education Wealth Other Variables Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 42 LO4 Social Class and Education Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 43 LO4 The Impact of Social Class on Marketing Indicates which medium to use for advertising Helps determine the best distribution for products Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 44 LO4 REVIEW LEARNING OUTCOME Cultural Factors Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 45 LO5 Social Influences on Consumer Buying Decisions Identify and understand the social factors that affect consumer buying decisions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 46 LO5 Social Influences Reference Groups Opinion Leaders Family Members Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 47 LO5 Reference Group Reference Group A group in society that influences an individual’s purchasing behavior. Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 48 LO5 Reference Groups Beyond the Book Primary Direct Secondary Reference Groups Aspirational Indirect Nonaspirational Supplemental content – not in book Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 49 LO5 Influences of Reference Groups Chapter 5 They serve as information sources and influence perceptions. They affect an individual’s aspiration levels. Their norms either constrain or stimulate consumer behavior. Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 50 LO5 Opinion Leaders Opinion Leaders An individual who influences the opinion of others. Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 51 LO5 Opinion Leaders Marketers are looking to Web logs, or blogs, to find opinion leaders Teenagers Movie stars Sports figures Celebrities Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 52 LO5 Family Purchase Process Roles in the Family Initiators Influencers Decision Makers Purchasers Consumers Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 53 LO5 Chapter 5 Relationships among Purchasers and Consumers in the Family Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 54 LO6 REVIEW LEARNING OUTCOME Social Factors Reference Groups Opinion Leaders Affect aspiration levels Information sources Constrain or stimulate consumer behavior Celebrities People You Know Socialization Process Family Initiators Decision Makers Influencers Chapter 5 Consumers Purchasers Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 55 LO6 Individual Influences on Consumer Buying Decisions Identify and understand the individual factors that affect consumer buying decisions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 56 Individual Influences Gender Age Life Cycle Personality Self-Concept Lifestyle LO6 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 57 LO7 Psychological Influences on Consumer Buying Decisions Identify and understand the psychological factors that affect consumer buying decisions Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 58 Psychological Influences Perception Motivation Learning Beliefs & Attitudes LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 59 Perception Perception Process by which people select, organize, and interpret stimuli into a meaningful and coherent picture. LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 60 Perception Selective Exposure Selective Distortion Selective Retention LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 61 Perception Selective Exposure Consumer notices certain stimuli and ignores others Selective Distortion Consumer changes or distorts information that conflicts with feelings or beliefs Selective Retention Consumer remembers only that information that supports personal beliefs LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 62 Marketing Implications of Perception Important attributes Price Brand names Quality and reliability Threshold level of perception Product or repositioning changes Foreign consumer perception LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 63 Motivation Maslow’s Hierarchy of Needs A method of classifying human needs and motivations into five categories in ascending order of importance. LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 64 Maslow’s Hierarchy of Needs LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 65 Types of Learning Experiential An experience changes behavior Conceptual Not learned through direct experience LO7 http://www.cspinet.org Online Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 66 Beliefs and Attitudes Belief An organized pattern of knowledge that an individual holds as true about his or her world. Attitude A learned tendency to respond consistently toward a given object. LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 67 Changing Attitudes Change beliefs about the brand’s attributes Change the relative importance of these beliefs Add new beliefs LO7 Chapter 5 Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 68 Biz Flix LO7 Chapter 5 Family Man Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 69 LO7 REVIEW LEARNING OUTCOME Psychological Factors Selective Exposure Perception Selective Retention Selective Exposure Needs Motivation Learning Beliefs & Attitudes Chapter 5 Psychological Safety Social Esteem Experiential Changing Beliefs about Attributes Esteem Conceptual Changing Importance of Beliefs Adding New Beliefs Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 70