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MKT101 - Lesson 4 - Consumer Behavior

Consumer behavior is the study of how individuals and groups select, buy, use, and dispose of products, which helps businesses enhance customer satisfaction and loyalty. The consumer decision-making process consists of five stages: problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior. Various factors influence consumer behavior, including psychological, personal, social, and cultural elements, which businesses can analyze to develop effective marketing strategies.

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20 views9 pages

MKT101 - Lesson 4 - Consumer Behavior

Consumer behavior is the study of how individuals and groups select, buy, use, and dispose of products, which helps businesses enhance customer satisfaction and loyalty. The consumer decision-making process consists of five stages: problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior. Various factors influence consumer behavior, including psychological, personal, social, and cultural elements, which businesses can analyze to develop effective marketing strategies.

Uploaded by

sophiaemberslibut
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CONSUMER BEHAVIOR

LESSON 4
CONSUMER BEHAVIOR
• Consumer behavior is the study of how individuals, groups,
and organizations select, buy, use, and dispose of
products and services. Understanding these behaviors
enables businesses to develop strategies that enhance
customer satisfaction, build brand loyalty, and increase
sales.
• Consumer behavior examines the motivations and
influences behind purchasing decisions. It considers both
rational and emotional aspects of buying. Businesses
analyze consumer preferences, needs, and expectations
to develop effective marketing strategies.
CONSUMER DECISION-MAKING PROCESS
Consumers go through a structured process when making a
purchase. The five stages are:

1.Problem Recognition – The consumer identifies a need or


problem that requires a solution.
2.Information Search – The consumer gathers relevant information
about available products and services.
3.Alternative Evaluation – The consumer compares various options
based on features, price, and benefits.
4.Purchase Decision – The consumer selects the best option and
completes the purchase.
5.Post-Purchase Behavior – The consumer evaluates the product’s
performance, which influences future buying decisions and
brand perception.
TYPES OF BUYING SITUATIONS
1. Straight Re-buy – Routine purchasing where a consumer
repeatedly buys the same product with little effort.

2. Modified Re-buy – A situation where consumers seek


some modifications in product specifications, price, or
supplier.

3. New Task – A first-time purchase that requires extensive


research and decision-making.
FACTORS INFLUENCING CONSUMER
BEHAVIOR
A. Psychological Factors
• Motivation – The internal drive that compels consumers to fulfill
needs, often based on Maslow’s Hierarchy of Needs
(physiological, safety, social, esteem, and self-actualization).
• Perception – The way consumers interpret and process
information about products, shaping their opinions and
purchase decisions.
• Learning – Changes in consumer behavior based on past
experiences and new knowledge about products.
• Beliefs & Attitudes – Personal values, opinions, and brand
perceptions that influence consumer decisions.
FACTORS INFLUENCING CONSUMER
BEHAVIOR
B. Personal Factors
• Age & Life Cycle – Consumer preferences change at different
life stages.
• Occupation – A person’s job influences their buying habits and
product choices.
• Economic Status – Income levels affect purchasing power and
product affordability.
• Lifestyle – Patterns of behavior, interests, and opinions that
shape product preferences.
• Personality & Self-Concept – An individual’s traits and self-
image affect brand choices.
FACTORS INFLUENCING CONSUMER
BEHAVIOR
C. Social Factors

• Reference Groups – Social groups, including family, friends,


and influencers, impact consumer decisions.
• Family – Family members play a major role in shaping
buying preferences and habits.
• Roles & Status – People make purchases based on their
societal roles and responsibilities.
FACTORS INFLUENCING CONSUMER
BEHAVIOR
D. Cultural Factors

• Culture – The shared values, beliefs, and customs that


shape consumer behaviors.
• Subculture – Distinct groups within a culture that influence
consumer preferences and habits.
• Social Class – A consumer’s economic and educational
background affects their buying behavior and brand
preferences.
CONLUSION
• Understanding consumer behavior allows businesses to
develop targeted marketing strategies that align with
customer needs and preferences. By analyzing decision-
making processes and external influences, companies
can create better products, improve customer
satisfaction, and build long-term relationships with their
audience.

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