Questions for Marketers 1. Who is the target consumer? 2. How to identify the buying participants? 3.

What are the buying criterias? 4. What product appeals matter in influencing decision making?

Examining our own purchases can reveal ways in which buying decisions occur. Look at your own purchase decision for a soft drink or chocolate/Kitchenware/Consumer durables Are the decision process same for major/minor purchases. Question of the day: What factors you think would be very important to most consumers in deciding where to do their grocery shopping? Analyze the expectancy values. Do you see any benefit/drawbacks in using rebate coupons, promotion packs and other forms of sales promotion techniques to promote product adoption?

Characteristics of Social Economic Class (SEC) 1. Upper uppers (1%)

Social elite Own plenty of inherited wealth Have well known family backgrounds. They own a lot of properties. Send their children to the finest schools.

2. Lower uppers (1%)

Earned high income or wealth through exceptional ability in their professions or business. Normally begin in the middle class. Includes the new rich who consume conspicuously and they want acceptance in the upper- upper stratum.

3. Upper Middle (3%) Attach prime importance to career. Most of them have attained positions as professionals and corporate managers. They believe in education and want their children to develop professional skills. They are highly civic- minded. They are the quality market for good homes, clothes, furniture appliances etc.

4. Middle Class (25%) They are made up of average pay white and blue collar workers. They live on the better side of town and try to the proper things. Often buy products that are popular. Better living for them means owning a nice home in a nice neighbourhood with good schools. They aim towards college education and spend their money on worthwhile experiences.

5. Working Class (30%)

 The working class depends heavily on economic and emotional support. They need advice and help from. family/relatives/friends for tips on job opportunities and purchases. Need assistance in times of trouble.

6.

Upper lowers (10%) They perform unskilled work for very low pay. Educationally deficient. They maintain some effort towards cleanliness.

7. Lower lowers (30%) They are visibly poverty stricken and usually out of work.

They have the dirtiest jobs and home clothes and possessions are dirty.

Behaviour Characteristics: Group behaviour influenced by:

i) Primary Membership Groups: Family/Friends/neighbours/co-workers. ii) Secondary Membership Groups: Religious groups/Associations iii) Reference groups-Opinion leaders

An individuals economic situation will affect product choice-Depends on disposable income for spending, savings to splurge from and borrowing power.

Personality traits that influence buying behaviour: Self-confidence Sociability Defensiveness/aggressiveness/assertiveness

Selective Attention behaviour: Person is exposed to many advertisements- People pay attention to only those stimuli that interest them.

Selective Distortion behaviour: People tend to interpret information in a way that will support their belief. Selection Retention behaviour: People forget good points about competing brands. Personality and Consumer Behaviour- ExampleCoffee retailers have discovered that heavy coffee drinkers are high on sociability.

Rank the combinations in order of your preference:

Printers H.P Print quality Printer speed Size Functionality Cartridge replacement costs Price

Epson Cannon Samsung

Attributes: Print quality: close to letter quality, draft quality Printer speed: 180, 240, 300 etc. Functions: Scanner copier, etc. Cartridge replacement costs: colour/black & white Value additions: After sales/ warranty/replacement policy, etc. Price- Rs. 2000 Rs.3000 Rs. 3000 to 5000 Rs. 5000 -7000 Buying behaviour- Utility, usage, trade-offs consumer is willing to make for budget constraints.