Why is Understanding consumer behavior?
Understanding consumer behavior is key to marketing success.
Marketers must identify consumer needs, how they gather information, and what influences their decisions. Factors like personality, lifestyle, and external influences shape purchasing choices
PROBLEM RECOGNITION
Sources of Problem Recognition:
-Out of Stock
-Dissatisfaction
-New Needs/Wants
-Wants vs. Needs
-Related Products/Purchases
-Marketer-Induced Problem Recognition
Maslow’s Hierarchy of Needs
1) Physiological Needs: Basic requirements for survival (food, shelter, clothing).
2)Safety Needs: The need for security and protection from harm.
3)Social Needs: The desire for relationships, love, and belonging.
4)Esteem Needs: The need for accomplishment, recognition, and respect.
5) Self-Actualization: The need for personal growth and realizing one’s potential
Marketing Applications of Maslow’s
While Maslow’s theory has limitations, it provides a useful framework for marketers to design products and ads that appeal to specific needs
RESEARCH METHODS IN CONSUMER MOTIVATION
1)In-depth Interviews
2)Projective Techniques
3) Association Tests
4)Focus Groups
PERCEPTION
The perception process is crucial for marketers because it explains how consumers acquire and interpret information from external sources.
INFORMATION SEARCH
the consumer decision-making process is Information search, where consumers begin looking for information once they recognize a problem or need.
1)Internal Search:
2)External Search
3) Personal Sources
4) Marketer-Controlled Sources
5) Public Sources
6) Personal Experience
The Evoked Set
The evoked set is a subset of all the brands the consumer is aware of, narrowed down to a manageable number of options.
DECISION RULES
. These rules are typically based on basic criteria such as:
1)Price-based heuristics: Consumers may choose the least expensive brand or product.
2) Promotion-based heuristics: Consumers might select a product for which they can get a discount through a coupon, rebate, or a special deal.
3)These heuristics help reduce the cognitive effort involved in decision-making, especially for low-involvement products or repeat purchases.
Social Class
Definition: Social class divides society into hierarchical groups based on lifestyle, values, income, and education.
Family Decision Making
Definition: Family members influence each other’s buying decisions in various roles.
Situational Determinants
: The situation in which a purchase is made influences consumer behavior.
