4. Factors influencing Consumer Behavior Classification and Analysis of Markets Cultural Factors Social Factors Personal Factors
5. Culture “ Culture is the distinct way of life of a group of people and their complete design for living.” “ Culture refers to a set of values, ideas, artifacts and other meaningful symbols that help individuals communicate, interpret, and evaluate as members of society.” Classification and Analysis of Markets
14. Model of Consumer behavior Marketing Stimuli Product Price Place Promotion Other Stimuli Economic Technological Political Cultural Consumers’ Characteristics Cultural Social Personal Buyer’s decision process Problem recognition Information search Evaluation of Alternatives Purchase decision Post purchase evaluation Buyer’s decisions Product choice Brand choice Dealer choice Purchase timing Purchase amount Classification and Analysis of Markets Consumers Psychology Motivation Perception Learning Memory
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16. Stages of Consumer Decision Process Model Need Recognition or Problem solving Search for Information Pre-Purchase Evaluation of alternatives Purchase Consumption Post-Consumption Evaluation Divestment Classification and Analysis of Markets
22. Organizational Buying It is the decision making process by which formal organizations establish the need for purchased products and services and identify, evaluate and chose among alternative brands and suppliers. Classification and Analysis of Markets
25. Systems Buying and Selling Classification and Analysis of Markets Turnkey solution desired; Bids solicited Prime Contractors Second-tier Contractors System subcomponents assembled
26. The Buying centre Initiators Users Influencers Deciders Approvers Buyers Gatekeepers Classification and Analysis of Markets
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28. Sales Strategies Classification and Analysis of Markets Small Sellers Large Sellers Key Buying Influencers Multilevel In-depth Selling
29. Types of Business Customers Price- oriented Strategic- value Gold- standard Solution- oriented Classification and Analysis of Markets
30. Handling Price-Oriented Customers Limit Quantity Purchased Allow no refunds Make no adjustments Provide no services Classification and Analysis of Markets