Consumer Analysis,Consumer Analysis,The Study of Consumer Behavior, definition The study of how individuals, groups, and organizations select, buy, use, and dispose goods, services, ideas, or experiences to satisfy their needs and wants.,Consumer Behavior,The factors that influence buying behavior include: Cultural Social Personal,Consumer Behavior,Culture is the most important, because it has the broadest and deepest influence. Within Culture, many sub-groups exist and are called Sub-Cultures.,Consumer Behavior,Social factors: Reference Groups Family Roles and Statuses,Consumer Behavior,Personal Factors: Age and Stage in the Lifecycle Occupation and Economic Circumstances Personality and Self-Concept Lifestyle and Values,Consumer Behavior,Key psychological processes that influence consumer responses to marketing activities: Motivation Perception Learning Memory,Consumer Behavior,The Buying Decision Process, the Five Stage Model: Problem recognition Information search Evaluation of alternatives Purchase decision Post-purchase behavior,Consumer Behavior,Profiling the Customer buying decision process, methodology: How can marketers learn about the stages in the buying process for their product? Introspective method Retrospective method Prospective method Prescriptive method,Consumer Behavior,Introspective method: think about how they themselves would act Retrospective method: interview a small number of recent buyers, asking them to recall the events leading to the purchase Prospective method: locate consumers who plan to buy the product and ask them to think out loud about going through the buying process Prescriptive method: ask consumers to describe the ideal way to buy the product,Consumer Behavior,The Consumer Adoption Process: Adoption is an individuals decision to become a regular user of the product or service.,Consumer Behavior,Adopters of new products move through five stages: Awareness Interest Evaluation Trial Adoption,Consumer Behavior,Description of each stage: Awareness: consumer becomes aware of the product, but has no information about it. Interest: consumer is stimulated to seek information. Evaluation: consumer considers whether to try the product. Trial: consumer tries the product and estimates its value. Adoption: consumer decides to make full and regular use of the product.,Consumer Behavior,Five characteristics that influence the adoption rate: Relative advantage Compatibility Complexity Divisibility Communicability,Consumer Behavior,Descriptions of the five characteristics: Relative advantage: the degree to which the product appears superior to others. Compatibility: the degree to which the product matches the consumers values and experiences. Complexity: the degree to which the product is relatively difficult to understand or use.,Consumer Behavior,Descriptions of the five characteristics (continued): Divisibility: the degree to which consumers can try the product on a limited basis. Communicability: the degree to which the benefits are observable or describable to others.,