Chapter 7 Analyzing Consumer Markets and Buyer Behavior by

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Chapter 7Analyzing Consumer Markets and Buyer
Behaviorby
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Chapter Objectives

• In this chapter, we focus on two questions
• How do the buyers characteristics cultural,
  social, personal, and psychological influence
  buying behavior?
• How does the buyer make purchasing decisions?

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Cultural Factors
Buyer
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Social Factors
Reference Groups
Family
Roles Statuses
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Influences on Consumer Behavior
Personal Influences
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Psychological Factors
Motivation
Perception
Learning
Beliefs Attitudes
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Maslows Hierarchyof Needs
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The Buying Decision Process

• Buying Roles
• Initiator
• Influencer
• Decider
• Buyer
• User
• Buying behavior

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Types of Buying Behavior
Complex Buying Behavior
Variety- Seeking Behavior
High Involvement
Low Involvement
Dissonance- Reducing Buying Behavior
Habitual Buying Behavior
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Consumer Buying Process
Problem recognition
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Model of Buying Behavior
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Decision Making Sets
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Chapter 8Analyzing Business Markets and Business
Buying Behaviorby
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Objectives

• How Business Consumer Markets Differ
• Organizational Buying Situations
• Participants in the Business Buying Process
• Major Influences on Organizational Buyers
• Business Buyer Decision Making
• Institutional Government Buying

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Business vs. Consumer

• Fewer buyers
• Larger buyers
• Close supplier-customer relationship
• Geographically concentrated
• Derived demand
• Inelastic demand
• Fluctuating demand

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Business vs. Consumer

• Professional purchasing
• Several buying influences
• Multiple sales calls
• Direct purchasing
• Reciprocity
• Leasing

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Custom furniture Installed components Buildings W
eapon systems
New vehicles Elec. Equip Consultants Computer
equip.
Utilities Office Supplies Bulk chemicals
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Participants in the Business Buying Process
Users
Initiators
Influencers
Gatekeepers
Buyers
Deciders
Approvers
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Major Influences on Industrial Buying Behavior
Business Buyer
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Problem Recognition
Need Recognition
Info Search/ Eval
Purchase
Post Purchase
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Government Markets