The field of consumer behavior studies how consumers (individuals and groups) select, buy, use, and dispose of goods, services, ideas to satisfy their needs. To understand the consumers in the target market, marketing managers rely on the 7 O’s framework of consumer research. 7 Os: Occupants, Objects, Objectives, Organizations, Operations, Occasions, Outletss
Who constitutes the market? Occupants
What does the market buy? Objects
Why does the market buy? Objectives
Who participates in buying? Organizations
How does the market buy? Operations
When does the market buy? Occasions
Where does the market buy? Outlets Buyer’s needs, characteristics and decision making process interact with the stimuli created…show more content… Marketing of income-sensitive goods has to take into consideration the shifts in personal income and savings habits.
A person’s life style is the person’s pattern of living in the world as expressed in activities, interests, and opinions. People coming from the same subculture, social class, and occupation do lead quite different life styles.
The life style is reflected in the consumption patterns. different agencies and authors have identified differnet life style categories. McCann Erickson London identifed among British, Avant-Gardians, Pontificators, Chamelons and Sleepwalkers. The advertising agency, D'arcy, Masius, Benton & Bowles identified five categories among Russians, Kuptsi, Cossacks, Students, Business Executives, and Russian Souls.
Llifestyles among British people.
Avant-Gardians (interested in change)
Pontificators (traditionalists, very British)
Chamelons (follow the crowd)
Sleepwalkers (contented underachievers) Psychological factors of importance Personality and self concept
Personality denotes a person’s distinguishing psychological characteristics that lead to relatively consistent and enduring responses to various stimuli.
Motivation to purchase and consume an item is to be understood by marketers. Need sets up drive that seeks a goal. Marketers want