Principles of marketing: Lecture 14

Principles of marketing: Lecture 14 provide students with knowledge about: consumer buying behavior; stimulus response model; model of buyer behavior; characteristics affecting consumer behavior; reference group; implications of reference groups;... Please refer to this lesson for details!

MGT301 Principles of Marketing

Lecture­14

of   Lecture­13

 Marketing Research (cont )

 Consumer Market­understanding the consumer 

Step­3 Implementing the Research Plan

Step­4  Interpretation and Reporting

 of Findings

and services for personal consumption

Consumer Market­understanding   the consumer 

“Stimulus­Response”

Consumer Buying Behavior (cont )

Marketing and Other Stimuli

Marketing and Other Stimuli

Buyer’s Black Box

”what” & “how”

Buyer’s Black Box

”what” & “how”

Cultural

Buyer characteristics affecting consumer behavior

Buyer  Responses

Product Choice Brand Choice Dealer Choice Purchase Timing Purchase Amount

Behavior

Social

Reference groups Family

Roles and status

Personal

Age and life­cycle Occupation Economic situation Lifestyle Personality

and self­concept

Psycho­

logical

Motivation Perception Learning Beliefs and attitudes

1.  Cultural

2.  Social

3.  Personal

4.  Psychological

1. Cultural

next

A homogeneous group 

of people who share elements of the overall culture as well as 

unique elements of their own group

2 Social

2 Social

a Reference Groups

b Family

c Role & Status

a. Reference Group

A group in society that influences an individual’s 

purchasing behavior

Implications of Reference Groups

 They serve as information sources and influence perceptions

 They affect an individual’s aspiration levels

 Their norms either constrain or stimulate consumer behavior

An individual who influences the opinion of others

c. Roles and Status

Enough for today. . .

Consumer Buying Behavior (cont )

Marketing and Other Stimuli

Marketing and Other Stimuli

Buyer’s Black Box

”what” & “how”

Buyer’s Black Box

”what” & “how”

Cultural

Buyer characteristics affecting

consumer behavior

Behavior

Social

Reference groups Family

Roles and status

Personal

Age and life­cycle Occupation Economic situation Lifestyle Personality

and self­concept

Psycho­

logical

Motivation Perception Learning Beliefs and attitudes

  Understanding the consumer behavior (cont )

MGT301 Principles of Marketing

Lecture­14