Chapter6 Transaction behavior on the internet 6.1 consumer buying behavior 6. 1. 1 What is Consumer Buying Behavior Buying Behavior is the decision processes and acts of people involved in bu product Need to understand why consumers make the purchases that they make? what factors influence consumer purchases? the changing factors in our society Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for Buyers reactions to a firms marketing strategy has a great impact on the firms success The marketing concept stresses that a firm should create a Marketing Mix(MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers Marketers can better predict how consumers will respond to marketing strategies 6.1.2 Stages of the Consumer Buying Process Six Stages to the Consumer Buying Decision Process( For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not al ways include all 6 stages, determined by the degree of complexity. discussed next. 1. Problem Recognition(awareness of need) difference between the desired state and the actual condition deficit in assortment of roducts. Hunger--Food. Hunger stimulates your need to eat Can be stimulated by the marketer through product information-did not know you were deficient? I.E., see a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes 2. Information search- Internal search, memory External search if you need more information Friends and relatives(word of mouth) Marketer dominated sources; comparison shopping, public sources etc A successful information search leaves a buyer with possible alternatives, the evoked set Hungry, want to go out and eat, evoked set is indian food burger king klondike kates etc 3. Evaluation of alternatives--need to establish criteria for evaluation features The buyer wants or does not want Rank/weight alternatives or resume search. May decide that you want to eat something spicy, indian gets highest rank etc If not satisfied with your choice then return to the search phase. Can you think of another restaurant? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by"framing"alternativesChapter6 Transaction behavior on the Internet 6.1 consumer buying behavior 6.1.1 What is Consumer Buying Behavior? Buying Behavior is the decision processes and acts of people involved in buying and using products. Need to understand: ▪ why consumers make the purchases that they make? ▪ what factors influence consumer purchases? ▪ the changing factors in our society. Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for: Buyers reactions to a firms marketing strategy has a great impact on the firms success. The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy. Marketers can better predict how consumers will respond to marketing strategies. 6.1.2 Stages of the Consumer Buying Process Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of complexity...discussed next. 1. Problem Recognition(awareness of need) difference between the desired state and the actual condition. Deficit in assortment of products. Hunger--Food. Hunger stimulates your need to eat. Can be stimulated by the marketer through product information--did not know you were deficient? I.E., see a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes. 2. Information search-- Internal search, memory External search if you need more information. Friends and relatives (word of mouth). Marketer dominated sources; comparison shopping; public sources etc. A successful information search leaves a buyer with possible alternatives, the evoked set. Hungry, want to go out and eat, evoked set is; ▪ chinese food ▪ indian food ▪ burger king ▪ klondike kates etc 3. Evaluation of Alternatives--need to establish criteria for evaluation, features The buyer wants or does not want. Rank/weight alternatives or resume search. May decide that you want to eat something spicy, indian gets highest rank etc. If not satisfied with your choice then return to the search phase. Can you think of another restaurant? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by "framing" alternatives