Intro to Consumer Behavior z Consumer behavior-what is it? z Applications z Consumer Behavior and Strategy y. Elements of strategy y. Consumer Analysis z Consumer behavior outcomes MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 1
One Definition z. 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 z Marketing Strategy z Regulatory (Public) Policy z Social Marketing z Personal Consumer Skills MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 3
Orientations in the Study of Consumer Behavior z Anthropology z Economics z History and geography z Psychology z Sociology MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 4
Anthropology z The study of people within and across cultures z Emphasis on crosscultural differences z Questioning of assumptions within own culture MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 5
Economics z Basic economic issues y Supply and demand y Rational decision making y Perfect information z Emphasis on predicting behavior z Complications in real life z Behavioral economics— e. g. , “mental accounting” MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 6
History and Geography z Origins of behavior, perspectives, and traditions z Impact of geography on individuals y Isolation y Language development y Climate z Geographic determinism MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 7
Psychology z Study of human thinking and behavior z Some issues y. Personality y. Personal development y. Cognition (thinking), perception y. Attention and its limitations y“Learning”—e. g. , MKTG 371 acquired tastes TO ONSUMER BEHAVIOR INTRO Lars Perner, Instructor 8
Sociology z Cultural and interpersonal influences on consumption—e. g. , y. Fads, fashions y. Diffusion of innovation y. 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 z Consumers z Firms z Competitors z Conditions (environment) MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 11
Market Segmentation (covered in more detail later) z Product-related need sets z Segments: customers with similar needs and responses z Segment description z Segment selection MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 12
Elements in Marketing Strategy z Product z Communications z Price z Distribution z Service MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 13
Outcomes z Firm z Society y. Product position/perception y. Sales y. Customer satisfaction y. Economic y. Physical environment y. Social welfare z Individual y. Need satisfaction y. Injurious consumption MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 14
The Nature of Consumer Behavior z External Influences z Internal Influences z Self-Concept z Situations z Experiences and acquisitions MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 15
Why We Buy: Some Issues z. Questions academics relatively well: Whether, how, why? z. Questions academics answer less well: y. How much? y. Which effect is stronger? y. What if…? MKTG 371 INTRO TO ONSUMER BEHAVIOR Lars Perner, Instructor 16
Why We Buy Issues z“Conversion” and “interception” rates z. The “Transition Zone” z. Thinking like a consumer who is in the shopping setting! z. 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 17
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