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Family Life Cycle

Occupation and Economic circumstances

Lifestyle Personality and self - concept

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The family life cycle describes the

distinct phases that a family progresses

through from formation to retirement,

each phase bringing with it identifiable

purchasing behaviors.

Family Life Cycle

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Psychoanalytic

TheoryHidden buying

motives

Dreams, hopes,

fantasies, fears

An individuals pattern of distinguishing psychological traits

that influence behavioral responses

Self-concept

Actual

Ideal

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Brands also have personalities and

consumers are likely to choose brands

that match their personality.

Brand personality is defined as the mix of

human traits that may be attributed to a

specific brandsincerity, excitement,sophistication, ruggedness etc

Brand Personality

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A lifestyle is a persons pattern of living as expressed in

activities, interests, and opinions.

Traditionalconservative, driven by values, cherishes

family

Pleasure seekersself oriented, driven by status and

symbols

Social chameleonsHypocrite, tech savvy and

individualistic. Age between 3040 years

Intrinsic Progressivefuturistic person, believes in

equality of sexesthe executive class

Lifestyle

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Buying Decision Process

The buying decision process is the stages

a buyer passes through in making choicesabout which products and services to buy.

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Post-purchase BehaviorAssess value in consumption

PurchaseBuying value

Evaluation of AlternativesAssessing value

Information Search

Seeking a value

Need RecognitionPerceiving a value

Cultural, Social,Individual andPsychological

Factors

affectall steps

Buying Decision Process

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Internal StimuliInternal Stimuliandand

External StimuliExternal Stimuli

Present

Status

PreferredState

Marketing helpsconsumers

recognize an

imbalance betweenpresent status andpreferred state

Need Recognition

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The information search stage

An internal search involves the scanning of one's

memory to recall previous experiences or knowledge

concerning solutions to the problem-- often sufficient for

frequently purchased products.

An external search may be necessary when

past experience or knowledge is insufficient, the risk

of making a wrong purchase decision is high, and/or

the cost of gathering information is low.

Personal sources

(friends and family)

Public sources (rating

services like Consumer

Reports)

Marketer-dominated

sources (advertising orsales people)

The evoked set: a group of brandsfrom which the buyer can choose

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Consideration Set

Purchase!

Analyze product attributes

Rank attributes byimportance

Use cutoff criteria

Evaluation of Alternatives

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Post-purchase Behavior-Cognitive Dissonance

Inner tension that a consumer experiences after recognizing

an inconsistency between behavior and values or opinions.

CognitiveDissonance

?Did I make a good decision?Did I buy the right product?

Did I get a good value?

Can minimize through:Effective CommunicationFollow-up

GuaranteesWarranties

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Motivation

Perception

Learning

Personality

Attitude & Belief

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PSYCHOLOGICAL INFLUENCES

Motivationwhat stimulates behavior to satisfy a need

Maslows Hierarchy

of Needs

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Process of receiving, organizing, and assigning

Meaning to information or stimuli detected byour five senses

People can have different perceptions

of the same object because of three

Perceptual Processes

Selective

Attention

Selective

Distortion

Selective

Retention

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Involves changes in behavior resulting fromobservation and experience.

Based ondirect experience or indirect association

Drive

Cues

Response

Reinforcement

Learning determines whatresponse is likely.

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Involvement

Involvement consists of the personal,

social, and economic significance of the

purchase to the consumer.

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Involvement and Problem-Solving Variations

MoreInvolvement

LessInvolvement

RoutineResponseBehavior

LimitedDecisionMaking

ExtensiveDecisionMaking

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What should the marketer do

Offer extensive information on high involvement products

In-store promotion & placement is important for lowinvolvement products

Linking low-involvement product to high-involvement issue

can increase sales

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Product Choice Brand Choice

Dealer Choice

Purchase Timing Purchase Amount