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MKT4300_Chapter 5

Kotler and Keller
by

Michael Breazeale

on 26 August 2014

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Transcript of MKT4300_Chapter 5

Dr. Mike Breazeale
MKT 4300
Marketing Management

1
5
Analyzing
Consumer Markets
Consumer Behavior
The study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants
Cultural Factors
Personal Factors
Social Factors
Culture
Subculture
Social Class
The fundamental determinant of a person's wants and behavior, acquired from family and other key institutions
Includes nationalities, religions, racial groups, and geographic regions
Relatively homogeneous and enduring divisions in a society, hierarchically ordered and with members who share similar values, interests, and behavior
Cultural
Factors

Social
Factors
Reference Groups
Family
Roles
Status
Membership Groups
Primary Groups

Secondary Groups

Aspirational Groups
Dissociative Groups

Opinion Leaders
Family of Orientation
Family of Procreation
Special considerations with children
The activities a person is expected to perform
A hierarchical ranking implied by a role
Personal
Factors
Age and Stage in the Life Cycle
Occupation and
Economic Circumstances
Personality and Self-Concept
Lifestyle and Values
Family Life Cycle
Psychological Life Cycle
Critical life events and transitions
Personality
Actual Self-Concept
Ideal Self-Concept
Others' Self-Concept
Lifestyle is a person's pattern of living in the world as expressed in activities, interests, and opinions. It portrays the "whole person" interacting with his/her environment
Model of Consumer Behavior
Motivation
Perception
Learning
Emotions
Memory
Consumer
Psychology
Motivation
Perception
Learning
Emotions
Memory
Herzberg’s
Two-Factor
Theory

Behavior is
guided by
motivating
and hygiene
factors
Maslow’s
Hierarchy
of Needs

Behavior
is driven by
lowest,
unmet need
Freud’s
Theory

Behavior
is guided by
subconscious
motivations
Theories of Motivation
Maslow’s Hierarchy
Experiential
Public
Personal
Commercial
Sources of Information
Successive Sets in Decision Making
Computer Example
Availability
Representativeness
Anchoring and adjustment
Decision Heuristics
Decision Framing
Mental Accounting
Prospect Theory
Biogenic
Psychogenic
arising from physiological states of tension
such as hunger, thirst, or discomfort
arising from psychological states of tension such as
need for recognition, esteem, or belonging
Motive
a need that is aroused to a sufficient level of intensity to drive one to act
Direction: selection of one goal over another
Intensity: degree of vigor with which it is pursued
the process by which we select, organize, and
interpret information inputs to create a
meaningful picture of the world
Selective Attention
Selective Distortion
Selective Retention
relates to the fact that people screen out most of the stimuli to which we are exposed daily due to limited resources available for processing
the tendency to interpret information in a way that fits our preconceptions
relates to the tendency of people to retain information that supports our existing attitudes and beliefs
any change in long-term memory that results
from experience, including intentional
exposure as well as incidental exposure
Enhanced by:
strong drives
motivational cues
positive reinforcement
Short-Term Memory
Long-Term Memory
Associative Memory Network
Memory Encoding
Memory Retrieval
Long term memory is a set of nodes (stored information) and links (the connections between those pieces of information)
A temporary and limited repository for information, this is basically working memory.
A more permanent and virtually unlimited repository of information, this the vault.
The Consumer Decision
Making Process

Problem Recognition
Information Search
Alternative Evaluation
Purchase Decision
Post-purchase Processes
Disposal
Environmental
Characteristics
Full transcript