Consumer Behavior

Analyzing Consumer Markets

Personal Factors Age Selfconcept

Life cycle stage

Lifestyle

Occupation

Values

Wealth Personality

Personality Sincerity Excitement Competence Sophistication Ruggedness

Lifestyle Influences

Multi-tasking Time-starved Money-constrained

Psychological

Motivation

Perception

Learning

Memory

Motivation

Maslow’s Hierarchy of Needs Behavior is driven by lowest, unmet need

Maslow’s Hierarchy of Needs

Perception Selective Attention Selective Retention Selective Distortion

Consumer Buying Process Problem Recognition Information Search Evaluation Purchase Decision Post purchase Behavior

Problem Recognition : 1

Information Search : 2

Personal

Commercial

Public

Experiential

Evaluation of Alternatives : 3 Consumer May Use Careful Calculations & Logical Thinking Consumers May Buy on Impulse and Rely on Intuition Consumers May Make Buying Decisions on Their Own Consumers May Make Buying Decisions Only After Consulting Others

Purchase Decision : 4 Purchase Intention

Attitude s of Others

Unexpect ed Situationa l Factors

Purchase Decision

Perceived Risk Functional Physical Financial Social Psychological Time

Post Purchase Behavior : 5 Post purchase Satisfaction Post purchase Actions

Post purchase Use & Disposal