ANALYZING CONSUMER MARKETS

LECTURE 5
 LEARNING OBJECTIVES
• What is Consumer Behavior?
• Factors that influence Consumer Behavior
• What is Brand Personality?
• What is Motivation?
• Theories of Human Motivation
• The Buying Decision Process: The Five-Stage Model
 Consumer Behavior
• Consumer Behavior is the study of how individuals, groups and organizations select, buy, use
and dispose of goods, services, ideas or experiences to satisfy their needs and wants.

• Marketers must fully understand both the theory and reality of consumer behavior.

• A consumer’s buying behavior is influenced by cultural, social, personal and psychological

factors.

• Among these factors, cultural factors exert the broadest and deepest influence.
Factors that influence Consumer Behavior
 BRAND PERSONALITY
• Brand personality is a framework that helps a company or organization shape the way
people feel about its product, service, or mission.

• Put simply, Brand Personality is the personification of a brand.

• Customers are more likely to purchase a brand if its personality is similar to their own.

• A company's brand personality elicits an emotional response in a specific consumer

segment, with the intention of inciting positive actions that benefit the firm.
BRAND PERSONALITY
 BRAND PERSONALITY
Examples:
• Dove, for example, chooses sincerity as its brand personality, to attract feminine consumers.

• Luxury brands, such as Michael Kors and Chanel, aims for sophistication. Their brand
personality focuses on an upper-class, glamorous, and trendy lifestyle, which attracts a high-
spending consumer base.

• REI, the outdoor recreation retail store, has a rugged brand personality; they focus on inspiring
their audience—who are typically outdoorsy, adventurous people—to be strong and resilient.
 MOTIVATION
• Motivation is the desire to act in service of a goal. It's the crucial element in setting and attaining our
objectives.

• Motivation is one of the driving forces behind human behavior.

• Motivation might be extrinsic, whereby a person is inspired by outside forces—other people or rewards.

• Motivation can also be intrinsic, whereby the inspiration comes from within—the desire to improve at a
certain activity. Intrinsic motivation tends to push people more forcefully, and the accomplishments are
more fulfilling.
 THEORIES OF HUMAN MOTIVATION
FREUD’S THEORY:
 Freudian motivation theory posits that unconscious psychological forces, such as hidden desires and
motives, shape an individual's behavior, like their purchasing patterns.
 Freud's theory has been applied to the relationship between the qualities of a product, such as touch,
taste, or smell, and the memories that it may evoke in an individual.
 Recognizing how the elements of a product trigger an emotional response from the consumer can
help a marketer or salesperson understand how to lead a consumer toward making a purchase.
 A salesperson trying to get a consumer to purchase furniture, for example, may ask if this is the first
home that the consumer has lived in on their own. If the consumer indicates yes, this may prompt
the salesperson to mention how the furniture is warm or comfortable, triggering a feeling of safety.
THEORIES OF HUMAN MOTIVATION
THEORIES OF
HUMAN
MOTIVATION

MASLOW’S THEORY:
The Buying Decision Process: The Five-
Stage Model
THANK YOU