...Consumer Traits and Behaviors PSY/ 320 Consumer Traits and Behaviors Consumer traits and behaviors, what are they? Consumer traits and behaviors could be defined as the conducts and characteristics that consumers show in searching for, purchasing, using, evaluating, and disposing of products and services that they hope will satisfy their different needs (Schiffman & Kanuk, 2010). Consumers are influenced by different factors on what, when, where, how and why they buy a product or service. Some aspects influencing consumer traits, behaviors and how messages are received are psychological, social and culture process. Aspects as personalities, age, interest, believe, cultural background, social classes, among others are important elements to keep in mind when developing a marketing communication plan to reach the desired segment more effectively and motive decision making on customers. Consumer behavior focuses on how individual consumers and families or households make decisions to spend their time, money, and effort on consumption-related items. How they evaluate a product or service after the purchase, the impact of such evaluations on future purchases, and how they dispose of them (Schiffman & Kanuk, 2010). There are different motivations for what consumers make their purchasing decisions on and these are basically based on their innate and acquired needs. These needs stimulate people’s feelings and actions toward a product or service. We will be then identifying...
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...CHAPTER 1 Understanding Consumer Behavior CHAPTER SUMMARY The goal of this chapter is to introduce students to the topic of consumer behavior. The chapter defines what consumer behavior is, what factors affect it, and why it should be studied. Consumer behavior is defined as involving (1) the set of decisions (whether, what, why, how, when, where, how much, how often, how long), (2) made about the acquisition, use, or disposition (3) of products, services, activities, ideas, people or time (4) made by one or more decision-making entities (5) over time. Consumers’ motivation, ability, and opportunity affect their decisions. These factors influence what consumers are exposed to, what they attend to and what they perceive, how they categorize or interpret information, how they form and change attitudes, and how they form and retrieve memories. Each of these aspects of the psychological core has a bearing on consumer decision making. Decision making itself is based on problem recognition and the search for information, involves some judgment and decision-making processes, and affects others’ decisions as well as one’s own post-decision satisfaction level. Furthermore, consumer decisions are affected by the consumer’s culture, defined as the myriad groups and social systems to which individuals belong, that influence the values and beliefs they hold and the symbols they use to communicate group membership. Factors associated with both the psychological core and culture can influence...
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...Consumer Markets and Consumer Buyer Behavior Case Study Harley Davidson Building Success • Understanding the customers’ emotions and motivation • Determining the factors of loyalty • Translating this information to effective advertising Measuring Success • Currently 22% of all U.S. bike sales • Demand above supply • Sales doubled in the past 5 years with earnings tripled Case Study Harley-Davidson – Devoted Consumers Building Success • Offers good bikes, upgraded showrooms, and revised sales tactics. • Consumer emotions, motivations, and lifestyle research has been translated into effective advertising. • Harley riders are fiercely loyal to the brand, older, better educated, affluent. Measuring Success • Currently has 26% of all U.S. bike sales and 50% of heavyweight segment. • Demand outstripped supply for several years; waits of up to 2 years for popular models. • Annual revenues/earnings have grown at 14% to 23% over past 10 years. 2007: 21st straight year of record sales and income. 5-3 Definitions • Consumer buyer behavior refers to the buying behavior of final consumers – individuals and households who buy goods and services for personal consumption • All of these final consumers combine to make up the consumer market. Consumer Buying Behavior • Consumers make many buying decisions every day. • Most research consumer buying decisions try to answer the questions about; What consumers buy? Where, how, and how they buy, when & why they buy...
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...Consumer Psychology and Marketing Communications Article Analysis Colleen B. Hughes PSY/322 February 9, 2015 Donald Crabtree Consumer Psychology and Marketing Communications Article Analysis Consumers are the key to marketing communications for your products and services. Using psychology to understand the consumer behaviors, attitudes, and purchasing patterns. Getting your message to the consumer is done by communication. However, what is consumer psychology and how do they affect the market communication. Consumer psychology has a direct relationship with marketing communication message and will compare two articles to discover the relationship. Before you understand the relationship you need to define consumer psychology. The consumer is a person or thing that consumes and economically the definition is a person or organizations that use a commodity or service. (Dictionary, 2015). Psychology defined as the behavioral and cognitive characteristics of a specific individual, group, activity, or circumstance. (Dictionary, 2015). Another definition is the scientific study of mental processes and behavior. (Dictionary, 2015). Consumer Psychology is both of the definitions put together. The definition is the study of how consumers relate to the products they buy and services they use. Marketers use psychology to understand the consumer needs, motivation, attitude, and actions. (Mihart, 2012). Professional Marketer increase with better measurements and deeper understanding...
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...understanding of consumer behavior can mean better business for companies, better public policy for governments, and a better life for individuals. 2. While consumer behavior refers to human thought and action, it is not considered a field of study. 3. Consumer behavior can be thought of as the actions, reactions and consequences that take place as the consumer goes through a decision making process, reaches a decision and then uses the product. 4. Consumer behavior is the set of value-seeking activities that take place as people go about addressing realized needs. 5. The basic consumption process begins with the consumer recognizing that he or she wants something new. 6. The basic consumption process involves a consumer assessing the costs and benefits associated with a choice. 7. The final step in the consumption process is satisfaction. 8. An exchange is the acting out of a decision to give something up in return for something of equal value. 9. Consumer behavior represents the process by which goods, services, or ideas are used and transformed into value. 10. Costs involve more that just the price of the product. MKT 305 WK 2 QUIZ 1 CHAPTER 1 & 2 To purchase this visit here: http://www.activitymode.com/product/mkt-305-wk-2-quiz-1-chapter-1-2/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 305 WK 2 QUIZ 1 CHAPTER 1 & 2 MKT 305 WK 2 Quiz 1 Chapter 1,2 TRUE/FALSE 1. An understanding of consumer behavior can mean...
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...Consumer traits and behavior Team A Psy/322 Consumer traits and behavior Several topics will be discussed throughout this presentation starting with psychological and social processes that may influence consumer behavior. It has been determined that the consumer play the role of demander and care receiver through good harmony with consumer behavior as the bases of emotion. The corporation plays the role of supplier and philanthropist, through effective corporate strategy and policies based on reason. Finally public policy plays the role of guider and regulator based on the law. The dynamic relationships among consumer behavior, corporate strategy, and public policy are explored here through feedback with a system perspective and dynamics of cause-effect. Corporate ethics fell into five stages, since the 1960's the social expectations of the public with regard to corporations has increased substantially. Carroll (1979) stated that corporate achievement is essential for revaluating a business and those certain social criteria are also important. Consumers want to know about a corporation. If consumers have a good impression of a corporation and they have access to positive information and understand what a firm thinks, says and tends to do in relation to others make it also likely to strengthen the perception of corporate social responsibility. Corporate profits are positively and directly affected by consumer purchase behaviors...
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...Intro Many factors go into the process a consumer has to deal with when negotiating through the process of buying goods and services. There are psychological and social processes that may have an influence consumer behavior. Some of those influences come from the process developed by the marketing communications. There is also a relationship between the consumer traits and their purchasing behaviors that will be evaluated in this paper. Culture also is important to consumer behavior and can affect regional and social needs. Finally, consumers are analytical and can interpret marketing messages to benefit their needs. All these points will be evaluated and explored in this paper on consumer traits and behaviors. Psychological and Social Processes that Influence Consumer Behavior Consumers are driven by the desire to satisfy needs when they decide to make a purchase. Many of these needs are considered to be our Innate or primary needs. These needs are the physiological needs that we, as humans, require to help keep us alive, things such as food, air, water, shelter and sex. The satisfying of these physical needs are only a part, although a major one, of what drives us to buy the things we need. The problem with humans is that we are not completely satisfied with meeting our physical needs, but we also have to satisfy our Acquired needs or secondary needs. Just like the satisfaction of our innate needs helps us to feel good about our physical self. The...
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...Author’s name Professor’s name Course name Date due Britomart Stores Introduction Customer retailing is a broad subject which covers all the major processes of shopping. The major focus of retailing is on the customers which entail analyzing the entire process of customer purchasing behavior to the outcomes of the shopping experience. This study paper seeks to explore customer shopping behavior in relation to the various factors affecting the shopping process. In this discussion, the paper provides detailed information on the shoppers’ behavior with a major emphasis on Britomart stores. The paper will relate different aspects of the Britomart stores from designs, merchandise, service, and other physical attributes which influence customer shopping behavior. Customer shopping behavior is a long process which starts from the point the customers chooses to shop to the moment they acquire the goods and services. For instance, customer service in retailing profoundly influences the shoppers’ behavior. Customer service can be the differentiation between similar offerings and incompetent customer service can kill a relationship. In this understanding, exceptional customer service can save a relationship and establish a long term profitable one. The following section will provide a detailed explanation and description of Britomart stores, which the paper majorly has focused. Description-Britomart Stores Shopping at Britomart...
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...Chapter 5 CONSUMER MARKETS AND CONSUMER BUYER BEHAVIOR Chapter OBJECTIVES 1. Define the consumer market and construct a simple model of consumer buyer behavior. 2. Name the four major factors that influence consumer buyer behavior. 3. List and define the major types of buying decision behavior and stages in the buyer decision process. 4. Describe the adoption and diffusion process for new products. Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households who buy goods and services for personal consumption. All of these consumers combine to make up the consumer market. The American consumer market consists of more than 308 million people. Model of Consumer Behavior The central question for marketers is: How do consumers respond to various marketing efforts the company might use? The starting point is the stimulusresponse model of buyer behavior shown in Figure 5.1. Marketing stimuli consist of the four Ps: product, price, place, promotion. Other stimuli include major forces and events in the buyer’s environment: economic, technological, political, and cultural. The marketer wants to understand how the stimuli are changed into responses inside the consumer’s “black box,” which has two parts. 1. The buyer’s characteristics influence how he or she perceives and reacts to the stimuli. The buyer’s decision process itself affects the buyer’s behavior. Characteristics Affecting...
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...Summary outline Yolanda Bolden PSY/322 Yolanda's outline Consumer behavior is the study of values, beliefs and perception of consumers and what it takes to select, secure, dispose or services, products or ideas to satisfy consumer needs. Consumer behavior occurs when one is influences by coworkers, family, friends, society or loved ones. There is a study done to see how consumers decide on what they are going to buy. The market is more interested in product use, since it has an influence how product or items are positioned. Consumer traits play a big role on consumer behavior. It makes a consumer wonder what brand of a product to buy , what type of store to shop at, what store is appealing to the consumer and where and when to shop. Traits are what makes on person different than another person. Americans have been drinking more water since 2011, by about 11 gallons per person according to The Beverage Marketing Corporation. Consumers are trying to be healthier and are purchasing more water instead of soft drinks, sugary drinks etc. There has been an increase in the consumption of water by 6.2% in 2012, up from 2011. Most consumers say they drink a lot of water because that is what their parents gave them the most and they are trying to bring their children up the same way. They are trying to stay away from anything with sugar or caffeine in it. References International Bottle Water Association, Bottle Water Market. (2013), Retrieved from, http://www.bottledwater...
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...Kilcullin Chapter 5 Summary Consumer buying behavior is the buying behavior of final consumers, individuals and households who buy goods and services for personal consumption. The what, when, where, why and how is crucial in the marketing industry. They go hand and hand with market behavior (Boone). The history of consumer behavior in marketing seems `to be highly intertwined with the history of marketing thought. In the early fifties soon after WWII many managerial schools of marketing thought emerged. During this period unprecedented economic boom partly fueled up new product introductions. It generated such concepts as the four P’s of marketing, marketing mix, product differentiation and market segmentation.. It appear that each marketing era lids motivated specific types of consumer behavior research and there by shape its history with respect to the substantive body of knowledge research methodology as well as theory development. The purpose of consumer behavior is to understand and control the mind of the consumer. There are many elements of marketing behavior. For example, culture, consumer market, social class, personality, motive (drive), belief, attitudes and need recognition are just a few. As market become global it’s imperative for marketing professional to understand and cope with cross cultural or international consumer behavior. I expect global consumer behavior research and theory to become an emerging area of consumer behavior. As markets become more mature...
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...Marketing and Consumer Behavior Why can companies mark up their prices and stay in business? Research Question: In our world today a stigma exists between brand name products and the upper class and a common association between high prices and brand name items exists. Everyday marketers price products based off of researched consumer behavior, they price products at an excessive price compared to the cost to produce it, yet still sell their products and stay in business. Typically, the consumer is aware that brand names cost more money and consumer behavior has shown that the consumers are willing to pay high prices for these specific products and certain brands. Why is it that marketer’s mark up their products and that consumers are willing to purchase products and brands regardless of the price? Do marketers know the consumers will purchase their products regardless of price and take advantage by pricing them high? Is an underlying ethical issue present in the way companies are marketing their products? An interesting relationship occurs between consumers and brand name products and studies have shown consumers will spend any amount for a product they have justified they need or want. Furthermore, studies have shown that consumers purchase regular and brand name products based off of psychological driven needs. As a result of consumer’s physiological buying habits, marketers have based their pricing tactics off of it, resulting in excessively high mark ups. Although companies...
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...*CONSUMER BEHAVIOR: *THE PSYCHOLOGY OF MARKETING Introduction The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products); The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); The behavior of consumers while shopping or making other marketing decisions; Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer. One "official" definition of consumer behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society." Although it is not necessary to memorize this definition, it brings up some useful points: Behavior occurs either for the individual, or in the context of a group (e.g., friends influence what kinds of clothes a person...
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...person. Sometimes in the consumer market people are involved in a purchase decision, example: in planning for a family vacation the father may make the hotel reservations but others in the family may have input on the hotel choice. Therefore, understanding consumer purchase behavior involves not only understanding how decisions are made but also understanding the dynamics that influence purchases. Consumer buyer behavior refers to the buying behavior of final consumers (individuals and households who buy goods and services for personal consumption). All of there final consumers combine to make up the consumer market. Customers go through a five-stage decision-making process in any purchase: 1. Need Recognition & Problem Awareness 2. Information Search Customers make purchases in order to satisfy needs. Some of these needs are basic and must be filled by everyone on the planet, example: food and shelter, while others are not required for basic survival and vary depending on the person. Sometimes in the consumer market people are involved in a purchase decision, example: in planning for a family vacation the father may make the hotel reservations but others in the family may have input on the hotel choice. Therefore, understanding consumer purchase behavior involves not only understanding how decisions are made but also understanding the dynamics that influence purchases. Consumer buyer behavior refers to the buying behavior of final consumers (individuals and households...
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...Stages of consumer buying decision process Posted on September 12, 2012 by shma The marketer is responsible for selling the goods in the market so he must have the knowledge how the consumers actually make their buying decisions. For this he must study the consumer buying decision process or model. It involves five stages. 1.) Need recognition:- consumer buying decision process starts with need recognition. The marketer must recognize the needs of the consumer as well as how these needs can be satisfied. For example if a person is hungry then food is desired or if it is a matter of thirst than water is desirable. 2.) Information search:- in consumer buying decision process information search comes at second number. In this stage consumer searches the information about the product either from family, friends, neighborhood, advertisements, whole seller, retailers, dealers, or by examining or using the product. 3.) Evaluation of alternatives:- after getting the required knowledge about the product the consumer evaluate the various alternatives on the basis of it’s want satisfying power, quality and it’s features. 4.) Purchase decision:- after evaluating the alternatives the buyer buys the suitable product. But there are also the chances to postpone the purchase decision due to some reasons. In that case the marketer must try to find out the reasons and try to remove them either by providing sufficient information to the consumers or by giving them guarantee regarding...
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