Philips Kotler Marketing Management Essay

Analyzing Consumer MarketsSince marketing starts from the customer, it is of primary importance to understand the psyche of the customers and their acquire motives. This chapter talks about the various behavioural patterns that govern the decision devising process of a customer. A marketer needs to understand these factors bear upon the customers purchase decisions so as to design an grab marketing strategy.Factors affecting Consumer BuyingBehaviour1. Cultural Factorsa. Culture Frames traditions, values, perceptions, preferences. E.g. chela learning from family & surroundings.b. Sub-culture Provides more specific identification and socialization. Include nationalities, religions, racial groups and geographic regions. c. Social Class Homogeneous and enduring divisions in a federation which argon hierarchically ordered. Members sh are similar tastes and behaviour. 2. Social Factorsa. Reference Groups begin direct or indirect influence on persons attitude and behaviour. Primar y groups regular interaction, e.g. family, friends, neighbours. Secondary groups religious, professional, trade union groups. Aspirational Groups ones that a person hopes to join. Dissociative groups whose values or behaviour and individual rejects.b. Family Family of orientation course parents and siblings. Acquires orientationtowards religion, politics and economics, sense of personal ambition, ego worth and love. Family of procreation spouse and children. More direct influence on buying behaviour.c. Roles and posture Role consists of activities a person is expected to perform. Each role carries a status. Marketers must be aware of the status symbol of each result.Chapter 6 Analyzing Consumer Markets3. Personal Factorsa. Age and Stage in the Life Cycle Tastes are age related. Markets should also consider critical life events or transitions.b. affair and Economic Circumstances Economic Circumstances like spendable in bonk, savings, as raiments, debts, acceptance power e tc affect consumption patterns.c. Personality and Self Concept Personality, set of distinguishing characteristics that influence his/her buying behaviour. Consumers match brand personality with their ideal self concept instead of their actual self concept.d. Lifestyle and Values4. psychological Factorsa. Motivation Freuds theory of id, ego and super ego Maslows need hierarchy theory Herzbergs two factor model.b. perception Process by which we select, organize and interpret instruction inputs. In marketing, perceptions are more important than reality. c. Learning Induces changes in behaviour arising from experience. Marketers can plant demand by associating the product with positive drives. d. Memory Short circumstance and long term memory. Build brand knowledge and brand mean as node in memory. riddleRecognitonInformation attend military rank ofAlternativesPurchase closingPostpurchaseBehaviourThe Buying Decision ProcessProblem Recognition Customer recognises a need triggere d by internal or external stimuli. Marketers need to identify circumstances that trigger needs.Information Search Two levels of involvement Heightened attention when person becomes more receptive to information about the product. At next level consumer may enter into energetic information search, looking for reading material, phoning friends etc.Evaluation of Alternatives Factors influencing a occurrence choice over the other include attitudes, beliefs and expectancy value.Purchase Decision Between purchase intention and purchase decision, 2 intervening factors come into play- Attitudes of others and Unanticipated situational factors. Marketers should understand that these factors provokerisk and should provide information to subordinate it.Post purchase Behaviour Marketers must monitor postpurchase satisfaction, postpurchase actions, and postpurchase product uses.Chapter 6 Analyzing Consumer MarketsTrendsLevel of customer involvementInvolvementSignificantInsignificantDiffe rences in BrandsHighComplexBuyingBehaviourLowVariety questDissonanceReducingHabitual1. Complex Buying Behaviour When a customer purchases something for the first time.2. Variety Seeking Consumers will keep electrical switch varieties just out of boredom. Eg- Biscuits. Marketer should keep introducing new products anddisplay the product prominently.3. Habitual Buying the same thing out of habit and not out of loyalty. Distribution network should be excellent in this cause. uphold consistency in product and advertising.4. Dissonance Reducing In case of repeat purchase of same product.