Transcript Consumer Behavior

CHAPTER ONE
Consumer Behavior
and Marketing Strategy
McGraw-Hill/Irwin
Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
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What is 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.
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Why study consumer behavior?
• Consumer behavior theory provides the
manager with the proper questions to ask
• Marketing practice designed to influence
consumer behavior influences the firm,
the individual, and society
• All marketing decisions and regulations
are based on assumptions about
consumer behavior
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Applications of Consumer Behavior
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Marketing Strategy
Regulatory Policy
Social Marketing
Informed Individuals
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Marketing Strategy & Consumer Behavior
• Creating Customer Value:
The difference between all the benefits
derived from a total product and all the
costs of acquiring those benefits.
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Marketing Strategy & Consumer Behavior
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Consumer Insight 1-1
• What services could become experienceprovoking events? How would they do this?
• How can retailers, including Internet outlets,
provide their customers experiences?
• What would a store like Niketown (or a local
shopping mall in your area) have to do to
charge admission for customers to enter?
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Market Analysis Components
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The Consumers
The Company
The Competitors
The Conditions
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Market Segmentation
• Market Segment: a portion of a larger
market whose needs differ somewhat
from the larger market.
• Four steps to segmentation:
• Identify product-related need sets
• Group customers with similar need sets
• Describe each group
• Select an attractive segment(s) to serve
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Market Segment Attractiveness
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Marketing Strategy
• How will we provide superior customer
value to our target market?
• Marketing Mix
• The Product
• Communications
• Price
• Distribution
• Service
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Outcomes
• Firm:
• Product positioning
• Sales
• Customer Satisfaction
• Individual:
• Need Satisfaction
• Injurious Consumption
• Society:
• Economic
• Physical Environment
• Social Welfare
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Creating Satisfied Customers
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Overall Model Of Consumer Behavior
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Consumer Insight 1-2
• What does the consumption of a product
like Nikes mean to Andre?
• What does this story say about our
society and the impact and role of
marketing?
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