Transcript Consumer Behavior and Marketing Strategy

Intro to Consumer
Behavior
Consumer behavior-what is it?
Applications
Consumer Behavior
and Strategy
Elements of strategy
Consumer Analysis
Consumer behavior
outcomes
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
1
One Definition
Consumer behavior: the
study of individuals, groups, or
organizations and the processes
they use to select, secure, use,
and dispose of products, services,
experiences, or ideas to satisfy
needs and the impacts that these
processes have on the consumer
and society.
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
2
Applications of Consumer
Behavior
Marketing Strategy
Regulatory (Public)
Policy
Social Marketing
Personal Consumer
Skills
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
3
Orientations in the Study of
Consumer Behavior
Anthropology
Economics
History and
geography
Psychology
Sociology
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
4
Anthropology
The study of people
within and across
cultures
Emphasis on crosscultural differences
Questioning of
assumptions within
own culture
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
5
Economics
 Basic economic issues
Supply and demand
Rational decision making
Perfect information
 Emphasis on predicting
behavior
 Complications in real life
 Behavioral economics—
e.g., “mental accounting”
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
6
History and Geography
 Origins of behavior,
perspectives, and
traditions
 Impact of geography on
individuals
Isolation
Language development
Climate
 Geographic determinism
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
7
Psychology
Study of human
thinking and behavior
Some issues
Personality
Personal development
Cognition (thinking),
perception
Attention and its
limitations
“Learning”—e.g.,
MKTG 371acquired tastes
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
8
Sociology
Cultural and
interpersonal
influences on
consumption—e.g.,
Fads, fashions
Diffusion of innovation
Popular culture
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
9
Marketing Strategy and
Consumer Behavior
MARKET
ANALYSIS
MARKETING
STRATEGY
MKTG 371
MARKET
SEGMENTATION
CONSUMER
DECISION
PROCESSES
INTRO TO ONSUMER BEHAVIOR
OUTCOMES
Lars Perner, Instructor
10
Market Analysis
Components
Consumers
Firms
Competitors
Conditions
(environment)
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
11
Market Segmentation
(covered in more detail later)
Product-related need
sets
Segments:
customers with
similar needs and
responses
Segment description
Segment selection
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
12
Elements in Marketing
Strategy
Product
Communications
Price
Distribution
Service
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
13
Outcomes
Firm
Society
Product
position/perception
Sales
Customer satisfaction
Economic
Physical environment
Social welfare
Individual
Need satisfaction
Injurious consumption
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
14
The Nature of Consumer
Behavior
External Influences
Internal Influences
Self-Concept
Situations
Experiences and
acquisitions
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
15
Why We Buy: Some Issues
Questions academics relatively well:
Whether, how, why?
Questions academics answer less well:
How much?
Which effect is stronger?
What if…?
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
16
Why We Buy Issues
“Conversion” and “interception” rates
The “Transition Zone”
Thinking like a consumer who is in the
shopping setting!
A note on exam questions from the text:
You need to have read the book to be
able to answer! (The answers are not
obvious.)
MKTG 371
INTRO TO ONSUMER BEHAVIOR
Lars Perner, Instructor
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