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    POM Unit 2

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    23prfb31

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    POM Unit 2

    Uploaded by

    23prfb31
    6 views67 pages

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    POM Unit 2 copy

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    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    6 views67 pages

    POM Unit 2

    Uploaded by

    23prfb31

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 67

    Unit 2

    Consumer Behaviour
    Nature & Importance
    Consumer Buying Behavior
    Consumer Buying Behavior refers to the

    BUYING BEHAVIOR of
    final consumers (individuals & households)

    who buy goods and services


    For
    Personal Consumption.
    Problem
    Types Of Problem

    Routine Problem
    Emergency Problem
    Planning Problem
    Evolving Problem
    Activating Problem Recognition

    Desired State
    Actual State
    Actual State
    Information Search
    The Buyer Decision Process
    Step 2. Information Search

    Personal Sources •Family, friends, neighbors


    •Most influential source of
    information

    Commercial Sources •Advertising, salespeople


    •Receives most information
    from these sources

    Public Sources •Mass Media


    •Consumer-rating groups

    •Handling the product


    Experiential Sources •Examining the product
    •Using the product
    Alternate
    Evaluation
    The Buyer Decision Process
    Step 3. Evaluation of Alternatives
    Product Attributes
    Evaluation of Quality, Price, & Features

    Degree of Importance
    Which attributes matter most to me?

    Brand Beliefs
    What do I believe about each available brand?

    Total Product Satisfaction


    Based on what I’m looking for, how satisfied
    would I be with each product?

    Evaluation Procedures
    Choosing a product (and brand) based on one
    or more attributes.
    The Buyer Decision Process
    Step 4. Purchase Decision

    Purchase Intention
    Desire to buy the most preferred brand

    Attitudes Unexpected
    of others situational
    factors

    Purchase Decision
    The Buyer Decision Process
    Step 5. Post Purchase Behavior

    Consumer’s Expectations of
    Product’s Performance

    Product’s Perceived
    Performance

    Satisfied Dissatisfied
    Customer! Customer

    Cognitive Dissonance
    Market Segmentation
    Meaning

    Market
    Segmentation is the
    sub-dividing of market
    into homogeneous
    subsets of customers,
    where any subset may
    conceivably be selected
    as a market target to
    be reached with a
    distinct marketing
    mix.” – Philip Kotler
    Need &
    Requisite

    • Identify
    Opportunities
    • Optimize
    Resources
    • Minimize Risk
    • Enhance
    Customer
    Satisfaction
    Levels Of Market Segmentation
    Local Marketing
    Niche Marketing
    Individual Marketing
    Segmentation
    HLL VS NIRMA
    Bases for Segmentation (Consumer Goods)
    Geographical
    Age
    Income
    Gender
    Demographical Occupation
    Education
    Marital Status
    Family Size & Structure
    Psychographic
    Meaning
    Psychographic segmentation is a method used to
    divide a market or customer group into segments
    based on :
    • Beliefs,
    • Values,
    • Lifestyle,
    • Social Status,
    • Activities, Interests
    Psychographic
    Personality Life Style
    • Occasions
    • Benefits
    • User Status: nonuser, ex user,
    Potential user, first time user,
    regular user
    • Usage Rate: light, medium, heavy
    Behavioral • Loyalty : Hard core, Split,
    Shifting, Switchers
    • Buyer readiness Stage: aware,
    unaware, interested
    • Attitude: Enthusiastic, Positive,
    indifferent, Negative and hostile
    Occasion
    Benefit
    Benefit
    Benefit
    Benefit
    Benefit
    Attitude
    Target Meaning
    Target
    Targeting Strategies

    • Standardization: Coke, Pepsi


    • Differentiation: Economy
    Class/ Business class
    • Focus: Standardization +
    Differentiation
    Focus
    Positioning

    It Is A Marketing Strategy Focused


    On Distinguishing A Brand From Its
    Competitors.
    Positioning
    Positioning Types

    Attribute/Benefit/ Value Differentiation

    Competitive
    POP & POD

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