consumer behavior chapter one mktg3620

8/13/2019 Consumer Behavior Chapter One MKTG3620

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CHAPTER

01Consumer

Behavior andMarketing

Strategy

McGraw-Hil l/I rwin Copyright 2013 by The McGraw-Hil l Companies, I nc. All rights reserved.


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PART I: INTRODUCTION


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L 1

L 2

L 3

L 5

L 4

Define consumer behavior

Summarize the applications of consumer behavior

Explain how consumer behavior can be used todevelop marketing strategy

Explain the components that constitute a conceptual

model of consumer behavior

Discuss issues involving consumption meanings and

firm attempts to influence them

Learning Objectives

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Target Marketing . Just Your Average Triathlete?

Can you predict the demographics o f the

average tr iath lete?

Income:

Age:

Gender:

Marital Status :

Source: N. Zmuda, Forget Golf,Advertising Age, October 10, 2011, p. 8.

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Consumer Behavior In The News


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Target Marketing . Just Your AverageTriathlete?

Demog raphics o f the average tr iathlete?

Income: $126,000

Age: 38 Years Old

Gender: 60% Male

Marital Status : 63% Married

Key Target Market: Higher income corporate

execut ives who spend heavi ly on the spo rt .

Source: N. Zmuda, Forget Golf,Advertising Age, October 10, 2011, p. 8.

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Consumer Behavior In The News


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Consumer behavior is 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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Consumer Behavior and Marketing Strategy


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1. Market ing St rategy

2. Regu latory Po licy

3. Soc ial Market ing

4. In fo rmed Ind iv iduals

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Applications in Consumer Behavior


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United Way Campaign

Provides an Examp le of

Soc ial Marketing

Courtesy United Way of Metropolitan Chicago

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Applications in Consumer Behavior


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Marketing Strategy and Consumer Behavior


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1. The Consumers

2. The Company

3. The Competit ors

4. The Cond it io ns

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Market Analysis Components


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Market segmentat ion

is a portion of a larger

market whose needs

differ from the larger

market.

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Market Segmentation


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Market Segmentation


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Market ing Strategy is the answer to the question:

How will we provide superior customer value to our

target market?

This requires the formulation of a consistent

market ing m ix, which includes the1. Product

2. Communications

3. Price

4. Distribution, and

5. Services

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Marketing Strategy


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The fol low ing Video Cl ip shows howdigi tal s ignage (the commun icat ions

element) keeps the market ing message

fresh!

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Video Application


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Theconsumer decision process intervenes betweenthe marketing strategy, as implemented in the

marketing mix, and the outcomes.

The firm can succeed only if consumers see a needthat its product can solve, become aware of the

product and its capabilities, decide that it is the best

available solution, proceed to buy it, and become

satisfied with the result of the purchase.

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Consumer Decisions


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1. Firm Ou tcomes

2. Ind iv idual Outcomes

3. Soc iet y Ou tcomes

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Outcomes


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Overal l Conceptual Model of Consumer Behavior

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The Nature of Consumer Behavior


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External Inf lu ences

Culture

Demographics and social stratification

Ethnic, religious, and regional subcultures

Families and households

Groups

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Internal Inf luencesPerception

Learning

Memory

Motives

Personality

EmotionsAttitudes

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Self-Concept and L ifestyle

Self-conceptis the totality of an

individuals thoughts and

feelings about oneself.

Li festy leis how one lives,

including the products one buys,

how one uses them, what one

thinks about them, and how one

feels about them.

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Situations and Consumer Decis ionsConsumer decisions

result from perceived

problems and

opportunities.

Consumer problems arise

in specific situations and

the nature of the situation

influences the resultingconsumer behavior.

Using Outdoo r Media to Trigger Problem Recogni t ion

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Consumption has meaning beyond satisfactionof minimum or basic consumer needs

Symbolic needs

Status

Identity

Group acceptance

The Meaning of Consumption

consumer behavior chapter one mktg3620

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