L7 Material Economic Self

1st SEMESTER BSBA - MARKETING MANAGEMENT
UNIT 7
MATERIAL/ECONOMIC SELF
• The way we dress affects the way we think, the way we feel, the way we
act, and the way others react to us. – Judith Rasband
What is CONSUMER BEHAVIOR?
• Refers to the consumption or purchase of goods and services to satisfy
the personal needs and wants of others (Kardes, Cronley, and Cline,
2014)
• Purchases for others can include buying groceries, paying the electric
bills, buying gifts, etc.
• Individual consumers come in all ages, life stages, and social
backgrounds; they can be your little sister who wants to buy candy from
the sari-sari store or a “sosyal” college student buying kwek-kwek in a
local food stall.
Factors that can influence buying behavior.
Situational Factors
• Physical factors such as the store’s layout design may have an influence
on what you buy.
• Store locations also influence buying behavior
• Physical factors like the layout of the store, music played at stores, the
lighting, temperature, and even the smells you experience are called
atmospherics.
• It was gathered in the research that “strategic fragrancing” results in the
customers staying in stores longer, buying more, and leaving with better
impressions of the quality of the store's services and products (Bloch &
Richins, 1992)
Personal Factors
• Age is a very significant factor in a person's buying behavior there are
changing needs, wants and as a person grows into different stages of
life. Their taste and lifestyle in clothes, furniture, and recreation essentially
vary through time.
Personality
o person’s disposition
o explain why people are different.
o Person’s unique traits
o Sensation Seekers – high level of openness and more likely to
respond well to advertising.
Self-Concept
o How you see yourself.
Bagay
▪ Fit or suitable.
▪ You feel great with it.
Uso or Trending
▪ Buy things because it is trending although it’s not fit.
▪ Personality influences what you purchase.
Fashion and Lifestyle
▪ Fashionista – a person who keeps most of their attention on
their clothing, and general appearance.
Social Factors
• Our desire to learn is influenced by our attention to or interaction with
others.
Lodi-Idol
▪ Family acts as a sort of first line of contact for the social and
natural values that influence individual behavior.
Cultural Factors
• How value and culture affect a person’s buying behavior.
• Culture – set of beliefs shared by a group of people.
Culture and Subculture
▪ Region 1 – matipid, or kuripot.
▪ Pampanga – liking of beautiful things.
▪ Ilokano – simple style.
Hiya
▪ Kind of anxiety, a fear of being left exposed, unprotected, and
unaccepted.
Amor-propio
▪ Similar to self-esteem.
▪ Buy an item just to show he can afford it.
Pakikisama
▪ Anything from camaraderie to cooperation.
▪ Purchase to show they are friends and that they belong to a
group.
Utang na Loob
▪ Debt of honor or gratitude.
▪ Ask something from you, you cannot refuse because of debt.
• Social Class – a group with similar status commonly sharing comparable
levels of wealth and power.
Psychological Factors
• Motivation
▪ Various needs at any given time.
▪ Impulse buying.
• Freud’s Theory of Motivation
▪ sees the individual repressing many desires while in the process
of growing up and accepting social rules.
• Belief and Attitude
▪ A customer's decision-making ability can also be driven by
beliefs and attitudes towards a certain product.
▪ Your attitude is a brand may be influenced by what the brand
represents like they are pro-poon or eco-friendly.
▪ HIYANG is a state of compatibility between one's body and
something external evaluated through individual experience. It
creates loyalty.
• Selective Attention-Commercials and Selective Retention
▪ Attention – likely to notice stimuli that are related to a current
need.
▪ Retention – remembering the best features of a product.
Economic Factors
• Financial capacity and stability.
• Family Income – more or less buy what you need.
• Savings – spending will be limited.
• Vanity and Self
▪ Materialistic goods.
• Physical Vanity
▪ Concern for physical appearance.
▪ Want to look good or attractive
• Achievement Vanity
▪ A view for achievements means that other people know about
one’s successful achievement.
• Materialism and Consumer Vanity
▪ Pursuing brand-name goods and expecting praise reveal that
consumers use possessions as a symbol of one’s personal
success.
Filipino Consumer Trends
• In a Survey by Nielsen covering 58 countries with 29,000 internet

respondents showed that the majority of the Filipino respondents
reported that:
• 79% shop around to buy the most value-for-money product.
• 78% said commercials increase their brand preference.
• 77% said they usually preferred brands and types before buying.
• about 76% said they are more attracted to buying products that come
with free gifts.
• About 73% of Filipino respondents agreed that the image created by
advertising influenced their decision to buy.
• Only 48% agree that they will buy a product because they liked the
commercial.
Beauty
• Filipinos Like to Look Good. this is especially true for Filipino women who
like to improve their hard and change their complexion due to there
being an increase in the purchase of hair conditioners and body lotion.
Health
• Health and Wellness. Filipinos are trying to stay healthy. Products made
with fresh natural and organic ingredients also appear strongly with
Filipino consumers. Products also help protect against such conditions as
colon cancer or osteoporosis and are seeing sales growth.
Hygiene
• Germ protection Needs Arise. Filipinos purchased more hand sanitizers
and baby wipes/wet tissue. Since they care about germ protection,
Filipinos care more about their hygiene and purchase products like
razors, panty lines, and sanitary napkins.
Convenience
• Lifestyle on the Go. Workers, particularly those in the business process
outsourcing industry in the Philippines, can work odd hours and often
have a very little time to rest.
Guidelines for dressing well to improve your confidence
• Fit matters
• Be comfortable
• Find styles that work
• If you don’t love it, don’t but it
• Dress for the occasion.

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L7 Material Economic Self

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1st SEMESTER BSBA - MARKETING MANAGEMENT

Factors that can influence buying behavior.

Filipino Consumer Trends

• In a Survey by Nielsen covering 58 countries with 29,000 internet

Guidelines for dressing well to improve your confidence

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