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Lesson 1. Consumer Behavior (Introduction)

Consumer Behavior Introduction

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Aiza Kay Cabrillos
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25 views

Lesson 1. Consumer Behavior (Introduction)

Consumer Behavior Introduction

Uploaded by

Aiza Kay Cabrillos
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Lesson 1: Consumer Behavior

What is consumer behavior?

• Consumer Behavior are those actions directly involved in obtaining, consuming, and disposing of
products and services, including the decision process that precede and follow these actions.

• Consumer Behavior can be thought of as the actions, reactions, and consequences that take
place as the consumer goes through a decision-making process, reaches a decision, and then
puts the product to use.

• Another definition of consumer behavior is the study of individuals, groups, or organizations and
the processes they use to select, secure, use, and dispose of products, services, experiences, or
ides to satisfy needs and the impacts that these processes have on the consumer and society.

• It is also defined as the study of the processes involved when individuals or groups select,
purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and
desires.

Importance of consumer behavior

• Consumer Differentiation
• Design relevant Marketing Program
• Predicting Market Trend
• Competitive advantage
• Innovate New Products
• Stay relevant in the Market
• Improve customer Service
• Retain your customers

Models of Consumer Behavior


1. Black box model- consumer bases their buying decision on external stimulus-response

The environment Buyer's Black Box Buyer Responses

Marketing Stimuli Other Buying attitudes and preferences


Product Economic Buyer's
Purchase behavior: what the
Place Technological Characteristics
buyer buys, when, where, and
Price Social
Buyer's decision how much
Promotion Cultural
process Brand and company relationship
behavior

2. Personal value model- consumer bases their buying decision on internal factors. (personal opinions,
belief systems, values, traditions, goals, or any other internal motivator)

3. Complex Model- it considers both internal and external variables.


Factors Affecting Consumer Behavior

1. Cultural Factors
- Culture
A part of every society and an important cause of human desire and behavior.
- Subculture
Includes religions, nationalities, geographical regions, racial groups.
- Social class
It concerns income and various other factors such as wealth, education, occupation, etc.
2. Social Factors
- Reference Group
Ex. Religious group INC is known to vote as a bloc every election.
Opinion Leader (a person who influences other because of his special skill, knowledge,
or other characteristics).
- Family
- Roles and Status
For example: a woman is working in an organization as a finance manager – she is
playing two roles, one of finance manager and other of mother. Therefore, her buying
decisions will be influenced by her role and status.
3. Personal Factors
- Age
- Occupation
- Economic situation
- Lifestyle
- Personality
4. Psychological Factors
- Motivation
- Perception (selective attention, selective distortion, selection retention,
- Beliefs and Attitudes

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