2. Consumer Buying Behavior Consumer Buying Behavior refers to the buying behavior of final consumers (individuals & households) who buy goods and services for personal consumption.
3. Model of Consumer Behavior Marketing and other stimuli Economic Technological Political Cultural Product Price Place Promotion Buyer’s black box Buying Decision Process Buyer Characteristics Buyer’s responses Product Choice Brand Choice Dealer choice Purchase timing Purchase amount
4. Characteristics Affecting Consumer Behavior Cultural Culture Subculture Social Class Social Reference groups Family Role and status Personal Age and life Cycle stage Occupation Economic Situation Personality and Self-concept Psychological Motivation Perception Learning Beliefs and Attitudes
6. The Buyer Decision Process Need Recognition Information Search Evaluation and Alternatives Purchase Decision Post purchase Behavior
7. The Buyer Decision Process for New Products Percentage of Adopters Time of Adoption Early Late Innovators Early Adopters Early Majority 2.5% 13.5% 34% 34% 16% Laggards Late Majority
Editor's Notes
Philosophy Recognition that our customers are unique with their own culture, image, workplace issues, change rates Recognition that standard solutions do not work Recognition that each customer needs to be treated as and individual market Manufacturing Flat organizational structure, easy to get to the right resources, greater empowerment Mass customization Vs. mass production Highly vertical and highly integrated operation Cellular organization - lot size of one
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