Buyer Behavior in Market Segmentation
Explore the complexities of buyer behavior and market segmentation, delving into the nuances of consumer research paradigms, relationship marketing strategies, and the roles of actors in decision-making processes. Gain insights into the factors influencing buyer decisions and learn how to build lasting bonds with consumers in a dynamic market environment.
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Presentation Transcript
Introduction to Buyer Behaviour Buyer vs. Consumer Defining Buyer Behaviour Market Segmentation Two Paradigms of Consumer Research What affects Buyer Behaviour Using the Case Preparation Tool
Buyer vs. Consumer Course Title: Buyer Behaviour Anyone engaged in buyer behaviour including: business, government or consumers Text Title: Consumer Behaviour Has come to refer to consumer market, someone who consumes products or services versus organizational buyer behaviour.
What is Buyer (consumer) Behavior It is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires (Solomon, White, Dahl, p. 4)
Buyer Behavior Actors Role Theory decision criteria vary from role to role. Ongoing Process not just a moment of truth focus ( the exchange ). Buyer Behaviour Focuses on the entire consumption process. Different Actors of focus: Buyer, Decision Maker, Influencer
Two Paradigms of Consumer Research POSITIVISM (a.k.a modernism) objective, tangible, single, predictable, time free, context independent, existence of real causes, separation between researcher and subject Ordered INTERPRETISM (a.k.a postmodernism) socially constructed, multiple, focus in understanding, time bound, context dependent, simultaneous shaping events, interactive and cooperative researcher as part of phenomenon under study
Building Bonds with Consumers Relationship Marketing lifetime link to brands and customers E.g. s? Database Marketing tracking buying habits and crafting tailored products/services and messages E.g. s? Experiential Marketing making the transaction and process meaningful, memorable, and desirable E.g. s?
Market Segmentation (reviewed) What is a Market Segment? What is a Target Market? What are the four primary forms of Market Segmentation? D . P . G . B . How Can you as a business person use these to your advantage?
What affects Buyer Behaviour? Consumer Behavior, 3rdEdition, Hayer/MacInnis, p. 14
What affects Buyer Behaviour Consumer s Culture Psychological Core Process of Making Decisions Buyer Behaviour Outcomes
Next Class Please prepare for the Case Changing Consumer Perceptions of Bud Riley s prior to next class. Each of you should prepare the SHORT CYCLE part of the form at minimum before meeting with your team. Also, in your case study teams, meet to discuss the case prior to the class. Please bring your team s completed CASE PREPARATION CHART to the seminar
CASE PREPARATION TOOL Let s Discuss HOW TO READ FOR SHORT CYCLE WHAT GOES IN SHORT CYCLE HOW TO READ FOR LONG CYCLE WHERE TO GET MISSING INFORMATION WHAT KIND OF DATA ANALYSIS IS PERTINENT DECISION CRITERIA and HOW TO SELECT
THANK YOU FOR YOUR TIME SEE YOU ALL NEXT CLASS
