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Consumer Behaviour 1

1) The document discusses different models of consumer decision making including economic, psychological, and consumer behavior models. It also outlines the typical buyer's decision making process. 2) It then covers the key factors that influence consumer behavior such as culture, social groups, personality, lifestyle, perception, motivation, cognition, and more. 3) The buyer's decision making process involves need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior evaluation. Models can blend economic and psychological factors.

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39 views4 pages

Consumer Behaviour 1

1) The document discusses different models of consumer decision making including economic, psychological, and consumer behavior models. It also outlines the typical buyer's decision making process. 2) It then covers the key factors that influence consumer behavior such as culture, social groups, personality, lifestyle, perception, motivation, cognition, and more. 3) The buyer's decision making process involves need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior evaluation. Models can blend economic and psychological factors.

Uploaded by

qsty2wpcjs
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Consumer Behaviour

Different consumer roles:


- The initiator: identifies the need
- The gatekeeper: the person who will act as a deterrent
- The influencer: influence buying decision => expert or social status (e.g: doctors)
- The decider: makes the decision to buy
- The buyer: the customer
- The end user

3 Analysis Models for Consumer Decision Process

Economic models: large quantitative and are based on the assumptions of rationality and near
perfect knowledge. The consumer is seen to maximise their utility.

Psychological models: psychological and cognitive processes such as motivation and need cognition.
They are qualitative rather than quantitative and build on sociological factors like cultural influences
and family influences.

Consumer behaviour models: practical models used by marketers. They typically blend both
economic and psychological models.

Buyer’s Decision- Making Process

1) Need recognition =>2) Information research => 3) Evaluation of alternatives => 4) Post
purchase decision => 5) Post purchase behaviour

1) The consumer recognises the existence of an unfulfilled need => Discrepancy between
current state ≠ desired state (e.g. seeing someone drinking, seeing hearing an ad)
2) Information research: How to fix a problem, Internal search, access the memory
Consideration set (included) Evoked Set (included) Awareness Set

3) Evaluation of Alternatives: The consumer evaluates different alternatives


- according to the product attributes.
- Which ones are the most important/discriminating.

4) Purchase Decision / Buying:


- Choosing which product to purchase and acting on that a choice
- Intent on buying ≠ from actually buying the product
5) Post purchase behaviour:
- Consumers evaluate how good a choice was made by comparing the expectations they
formed regarding the product with its actual performance (will the consumer purchase the
product again; will he recommend the product => WOM)
- Possible emotional reaction: Disappointment (unlikely to purchase again + negative WOM) ;
Satisfaction ; Delight (likely to repurchase + positive WOM)
- Post Purchase cognitive dissonance= when a consumer is psychologically uncomfortable
about their purchase

Factors influencing Consumer behaviour:


CULTURE
Culture and Subculture:
Culture
 Shared by all, ongoing (evolves) and learnt (not innate)
The 6 Hofstede Dimensions of Culture: Individualism vs Collectivism; Short-termism vs long-termism;
Masculinity vs femininity; Indulgence vs restraint; Uncertainty avoidance; Power distance
Glocalisation: International strategies => Adaptation to the country’s culture; Standardization of the
product globally; Glocalisation: global instruction but freedom for the local team
Social Groups
Belonging Groups
Primary => frequent relationship, strong influential power (family, friends)
Secondary: less direct, less personal (colleagues, trade union)

Reference groups
 Influence the self-concept: What should I do to fit in?
The aspirational reference group: those others against whom one would like to compare oneself
The associative reference group: people who more realistically represent the individuals current
equals or near-equals
The dissociative reference group: people that the individual would not like to be

Opinion leaders

Opinion leaders frequently influence the attitudes behaviors of others. Such individuals share
different characteristics: high interest in a given product category, update product category
knowledge by reading, talking with salespeople etc, impart both positive and negative information ,
are among the first to buy goods
PERSONAL
Socio-demographics

Real age is different from the subjective age:


5-19 => older by 2 years
20-34: no difference between real and subjective age
35-49 => younger by 8 years
50-64=> younger by 15 years
Over 65=> younger by 19 years

Personality
Personality
e.g: self-confidence, risk aversion, curiosity
Very important to explain behaviour
=> lead the consumer to respond/act in a certain way
=> consumer will look for same personality in brands they choose

Lifestyle
Lifestyle reflects a pattern of living:
- PYSCHOLOGICAL
Attitude and beliefs

Attitude= a person’s consistently favourable or unfavourable evaluation feelings and


tendencies towards a brand or a product
Belief= A thought that a person holds about something usually based on knowledge, opinion
or faith

3 Components of attitudes and beliefs:


- Cognitive: Beliefs about a product
- Affective: Positive or negative feelings associated with the product
- Conative: Behavioural intention or transforming the attitude into actual behaviour

Attitudes are based on the evaluation and the importance of product/brand attributes:
- Non-compensatory models: A focus on the grades of the most important attributes
- Compensatory model: A very good grade on one attribute can compensate a very bad one
- Lexicographic model: select the brand that is the best on the most important attribute. If two
brands equally good, he compares on the second most important attribute etc
- Conjuctive method: establishes cutoffs for each attributes, he chooses a brand that meets all
the cutoffs but reject if fails to meet any one cutoff.
- Disjunctive: decides a separate minimally acceptable performance level of each attribute

Perception = The process by which people select, organize and interpret sensory stimulation (sounds,
vision, smell, touch) into meaningful picture of the world
Expose => Attention => Understanding

Motivation and needs


Motive= an internal state that is sufficiently pressing to drive the person to seek satisfaction of that
need (=drive)

2 Theories of Human motivation:


- Freud assumed that people are largely unconscious about the real psychological forces
shaping their behaviour => A person’s buying decisions are affected by subconscious motives
that even the buyer may not fully understand (e.g.: BMW convertible bought by an ageing
boomer)
- Maslow sought to explain why people are driven by needs at particular times

Cognition and Brains


2 ways in which we make our decisions:
- System 1: Fast, intuitive, metaphoric, unconscious (e.g: buying ice cream)
- System 2: Slow, analytical, Propositional, Conscious (e.g: buying a house)

Change people behaviour with a Nudge= a gentle ‘push’ to influence behaviour in predictable ways
through heuristics, goals, and basis

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