Entrep

• Behavior - Reaction of the consumer to changes happening in the environment that can influence their buying decision
• Consumer Buying Behavior - Reaction of the consumers to various events or forces that are happening in the business community which contribute to the decision process
• Environmental Factors

  • Cultural Factor
  • Social Factor
  • Personal Factor
  • Psychological Factor
• Cultural Factor


  Perceptions, attitudes, value system and even religion of these group influence their buying behavior
• Social Factor


  Relationship maintained or established by the consumers with other members of society
• Social Class


  Informal grouping of consumers based either on the personal perception of the consumers or that of others
• Social Class - is an informal grouping of consumers based either on the personal perception of the consumers or that of others.
• Personal Factor


  Personal characteristics of the buyer in terms of age, occupation, income, and lifestyle
• Psychological Factor


  Perceptions, beliefs, and attitudes of the consumers
• Buying Decision Process

  1. Recognition of their need and wants

  2. Search for relevant information about the product

  3. Evalution of alternatives

  4. Purchase decision

  5. Post-purchase analysis
• Evaluation of alternatives


  Desired information are already available to the consumers
• Evaluation of alternatives

  • Price
  • Quality and Durability
  • Brand, Color, and Design
  • Terms and conditions
  • Required payment
  • Amount of Credit
• Research


  Scientific investigation involving collection, presentation, analysis, and interpretation of gathered data
• Steps in conducting research work

  1. Identifying the problem

  2. Deciding the type of data to be gathered

  3. Evaluating how data will be collected

  4. Gathering the data

  5. Analyzing the data gathered

  6. Making a conclusion and recommendation

  7. Reporting the results of the research work
• Exploratory Research


  Preliminary research work conducted by an entrepreneur that is primarily designed to gather baseline information to be used in solving a problem or forming a hypothesis
• Descriptive Research


  Research conducted by the entrepreneur when the foremost objective is to describe the present buying behavior of the consumers in terms of environmental factors, buying decision process, and marketing mix
• Causal Research (Correlational study)


  Research when the objective is to determine whether the buying behavir of the consumer is caused by some environmental factors
• Qualitative Data


  Descriptive data that cannot be counted
• Primary Data


  Data sourced by the entrepreneur directly from the consumers belonging in the market segment
• Secondary Data


  Data previously gathered by another researcher for other purposes and now exist on other sources
• Research Instrument

  • Survey Questionnaire
  • Interview Schedule
  • Observation Checklist
• Survey Questionnaire


  Commonly used by the entreprenuer in gathering the required data about the buying behavior of the consumers
• Structured interview


  Interview where all the respondents are asked the same questions, with the same wordings, the same sequence or flow of questioning and as much as possible the same tone of voice
• Non-Structured Interview


  Interview where the direction of the questioning is left entirely to the interviewer based on the flow of the topics or themes of the conversation
• Observation Checklist


  Tool used to gather data in observation method of collecting data
• Complex Buying Behavior


  Behavior of Filipino consumers usually manifested when they are buying expensive goods, where there are several variables involved in the buying decision process because the consumer makes a critical evaluation of the different variables
• Simple Buying Behavior


  Behavior of consumers usually exhibited when the goods are not highly priced and the consumers are not deeply attatched to certain brands
• Brand-Sensitive Buying Behavior


  Consumers who are very particular with product brands
• Price-Sensitive Buying Behavior


  Consumers who are mostly concerned with the price of the product instead of the brand
• Marketing Mix


  Mode, means, or tool used by entrepreneur to position the product in the target segment to efficiently and effectively deliver it to the consumers and to convince them about the benefits that they will derive from buying the product
• 7P's of Marketing Mix

  • Product
  • Price
  • Place
  • Promotion
  • People
  • Packaging
  • Positioning
• Product


  Tangible good or intangible service offered by the business to the target consumers
• Price


  Concept of pricing relative to the marketing mix can be viewed from two opposing perspectives, namely, the perspective of the entrepreneur who produces the product and the opposing perspective if the consumers who ultimately buy the product
• Place


  Place where the target consumers are
• Promotion


  Mode of conveying the presence and attributes of the product to the target consumers
• People


  Individual employees or workers who are directly involved in the production, marketing, and sale of the product or service
• Packaging


  Process of putting the product in a package or container
• Positioning


  Place occupied by the product in the minds of the consumers
• Integrated Marketing Mix


  Mixture of different Ps to position the product in the market
• 7C's of Marketing Mix

  • Customer satisfaction for product
  • Customer convenience for place
  • Customer cost lowered
  • Customer information for promotion
  • Customer quality assurance for people
  • Customer safety for packaging
  • Customer decision for positioning