Transcript Consumer Behavior MKT 750

Consumer Behavior
MKT 750
Professor Pat West
Agenda
• Introductions
• Class website:
http://fisher.osu.edu/~west_284/mkt750s05 or
class.osu.edu
• Syllabus highlights
• Course overview
• Assignment
Syllabus Highlights
• Course Objective:
– To develop a deeper understanding of and
appreciation for consumers
– To learn how to better serve your customers and
develop strong relationships
• Class materials:
– Consumer Behavior: Building Marketing Strategy, 9th
edition (Hawkins, Best, and Coney)
Syllabus Highlights
• Requirements:
– Individual Components
• Participation
• Two exams @ 100 points each
Points
100
200
– Team Components
• Phase 1: Immersion Research
• Phase 2: Idea Generation
• Phase 3: Implementation Report
100
100
100
600
Keys to Success
• Come to class prepared
– Keep up on readings
– Stay on top of deadlines
• Treat others professionally
– Show pride in your work
– Be respectful
Considered appropriate:
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Be considerate of others
Get involved and participate
Strive to be a good teammate
Manage your time wisely
Please refrain from:
1.
2.
3.
4.
5.
Coming in late
Leaving class early
Sidebar conversations
Cellular phone interruptions
Eating food in the classroom
Honor Code
• What is academic misconduct?
– Any activity that compromises the academic
integrity of the institution or subverts the
educational process.
• How will it be dealt with?
– You will be dismissed from the class.
– The University Committee on Academic
Misconduct will be notified.
Course Overview
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What is consumer behavior?
Why study it?
How does this relate to marketing?
Some “essential tools”
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 impact that these processes have
on the consumer and society”
-- Hawkins, Best, and Coney 2004
 “The study of the cognitive, emotional, and physical
activities associated with the perception, evaluation,
choice, acquisition, use, and disposition of goods and
services.”
Why Study Consumer Behavior?
• The Marketing Concept:
– Marketing is the process of planning and executing the
conception, pricing, promotion, and distribution of
ideas, goods, and services to create more satisfying
exchanges than the competition.
• Corollary:
– Success in the marketplace requires: knowing, then
attracting, satisfying, and retaining customers.
Why Study Consumer Behavior?
• No brand/product can appeal to all people.
Firms must segment the market into groups with
relatively homogeneous preferences and target
one or more groups.
Firms must position their offerings in the hearts
and minds of these individuals in a favorable
way.
Firms must examine all of the touch points that
shape how a consumer will respond to their
offering.
Why Study Consumer Behavior?
• Our guesses about people are inaccurate.
– This is because human nature leads us to believe
that other people think like us
• false consensus
– People tend to perceive differences even when
they don’t exist
• stereotyping
Why Study Consumer Behavior?
• Therefore, we must strive to…
Identify customer needs and wants
Engage in research
Understand how customers will respond to
different messages and environments
Learn about and apply theories
Anticipate where preferences are headed
Staying informed
Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
Consumer Decision Making
• Consumer-side
Need
Recognition
Search
Alternative
Evaluation
Choice
Post-Purchase
Evaluation
• Marketer-side
Awareness
Interest
Desire
Action
Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
Demographic Trends:
• Aging population
• Cultural Diversity & Globalization
Lifestyle & Segment Trends:
• Staying connected
– Cellular phones
– Instant messaging
• Health & Fitness
– Atkins
– Water
Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
Consumer Information Processing
Stimuli
Exposure
Attention
Comprehension
Acceptance
Retention
Purchase
Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
Social Influence
• Creating “Buzz” through word of mouth
• Cultural and generational influence
• Family & Group Influence
Assignment
• Carefully read the syllabus
– There will be a quiz on it next time
• Study Chapter 1 of the textbook
– Begin applying the strategic framework
discussed to the team project we will be
working on
– What do we know about the 5 Cs,
Segmentation, Targeting, and Positioning?