NAME FREETSIE KATE L.

ZOLETA SUBJECT PRINCIPLES OF MARKETING

COURSE&YEAR/SECTION SUWBA2M1-2019 PROFESSOR MARTIN BONIFACIO
TIME 1:40PM-3:40PM DATE APRIL 5, 2020

REPORT TITLE: CONSUMER MARKET AND CONSUMER BUYER BEHAVIOR

SUMMARY OF MARGINAL NOTES:

1. Psychological Factors: Motivation

2. Psychological Factors: Learning
3. Psychological Factors: Beliefs and Attitudes
4. Social Factors: Reference Groups
5. Social Factors: Family
6. Social Factors: Role and Status

REALIZATION:

1. Psychological Factors: Motivation

A motive is the inner drive or pressure to take action to satisfy a need. A highly
motivated person is a very goal-oriented individual. Whether goals are positive or negative,
some individuals tend to have a high level of goal orientation, while others tend to have a
lower level of goal orientation. People may display different levels of motivation in different
aspects of their lives.

For example, a high school junior may be flunking trigonometry (low motivation) while
achieving champion performance levels at the video game Guitar Hero (high motivation).

For motivation to be useful in marketing practice, it is helpful for marketing managers

to understand how motivation plays into a specific purchasing situation -- what triggers
consumers to set goals, take action, and solve their need-based problems.

2. Psychological Factors: Learning

In the context of consumer behavior, learning is defined as changes in behavior that

result from previous experiences. Learning is an ongoing process that is dynamic, adaptive,
and subject to change. Learning does not include behavior associated with instinctive
responses or temporary states of an individual, such as hunger, fatigue, or sleep.

For example, in order to learn to play tennis, you might learn about the rules of the
game and the skills tennis players need. You would practice the skills and participate in
tennis games to gain experience. Learning can also take place without actually participating
in the physical experience. You can learn to play tennis by observing experts and reading
about how to play without actually doing it. This is called non experiential learning.

Consumer decisions can be influenced by both experiential and non experiential

learning.
3. Psychological Factors: Beliefs and Attitudes

Beliefs and attitudes represent another psychological factor that influences consumer
behavior. A belief is a conviction a person holds about something. An attitude is a consistent
view of something that encompasses the belief as well as an emotional feeling and a related
behavior.

People have beliefs and attitudes about all sorts of things: food, family, politics, places,
holidays, religion, brands,and so on. Beliefs and attitudes may be positive, negative, or
neutral, and they may be based on opinion or fact. It is important for marketers to
understand how beliefs and attitudes may affect consumer behavior and decision making. If
an incorrect or detrimental belief exists among the general population or a target audience,
marketing efforts may be needed to change people’s minds.

Marketers may look for opportunities to reshape or create new attitudes in moments
when consumers may be more open-minded, as with a product redesign or a new product
introduction.

4. Social Factors: Reference Groups

Reference groups have potential in forming a person attitude or behavior. The impact
of reference groups varies across products and brands. For example if the product is visible
such as dress, shoes, car etc.,then the influence or reference groups will be high. Reference
groups also include leader ( a person who influences other because of his special skill,
knowledge or other characteristics).

5. Social Factors: Family

Buyer behavior is strongly influenced by the member of a family. Therefore marketers

are trying to find the roles and influence of the husband, wife and children. If the buying
decision of a particular products is influenced by wife then marketers will try to target the
women in their advertisement. Here we should note that buying roles change with change in
consumer lifestyles.

6. Social Factors: Roles and Status

Each person possesses different roles and status in the society depending upon the
groups, clubs, family, organization etc.to which he belongs. For example a woman is working
in an organization as finance manager. Now she is playing two roles, on of finance manager
and other of mother. Therefore her buying decisions will be influenced by her role and
status

ACTION PLANS:
 PYSCHOLOGI PSYCHOLOGI PSYCHOLOGI SOCIAL SOCIAL SOCIAL
CAL CAL CAL FACTORS: FACTORS: FACTORS:
FACTORS: FACATORS: FACTORS: REFERENCE FAMILY ROLE
MOTIVATION LEARNING BELIEFS AND GROUPS AND
ATTITUDES STATUS
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SYNTHESIS:

Consumer buyer behavior refers to the buying behavior of final consumers --

individuals and households who buy goods and services for personal consumption. All of
these final consumers combine to make up the consumer market

Consumer behavior refers to the selection, acquisition, and consumption of goods and
services to meet their needs.

Social factors also influence the purchasing behavior of consumers. Social factors are
the reference groups, family, the role and status.

Consumer behavior refers to the selection, purchase and consumption of goods and
services for the satisfaction of their wants. There are different processes involved in the
consumer behavior. Initially the consumer tries to find what commodities he would like to
consume, then he selects only those commodities that promise greater utility. After
selecting the commodities, the consumer makes an estimate of the available money which
he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes
the decision about the commodities he should consume. Meanwhile, there are various other
factors influencing the purchases of consumer such as social, cultural, personal and
psychological.