instructor:dr. west office hours & location:m-w 12:30 – 1:15, fisher 544 phone &...
TRANSCRIPT
Instructor: Dr. West
Office Hours & Location:
M-W 12:30 – 1:15, Fisher 544
Phone & Fax: 292-0568 (O) 292-0879 (F)
E-mail: [email protected]
MKT 750Consumer Behavior
Agenda
IntroductionsClass websiteSyllabus highlightsCourse overviewAssignment
Class Website
LocationsHomepage:
http://fisher.osu.edu/~west/mkt750w04
Access to Homepage:Username: mkt750, Password: pwest
Syllabus Highlights
Course Objective: To develop a deeper understanding of and appreciation for consumers To learn how to better serve your customers
Class materials: Consumer Behavior textbook
Syllabus Highlights
Requirements:Individual Components Points
Two memos @ 50 points each 100 Two exams @ 100 points each 200 Participation is worth up to 50 points 50
Team ComponentsA research project worth up to 150 points150
500
Keys to Success
Come to class prepared Read the material in advance Keep up on assignments
Treat others professionally Show pride in your work Be respectful
Survey Said
Please refrain from:1. Coming in late2. Leaving class early3. Sidebar conversations 4. The use of laptops or cell
phones5. Eating food in the classroom
Survey Said
Considered appropriate conduct:
1. Be considerate of others2. Get involved and participate3. Always strive to be a good
teammate
4. Manage your time wisely
Course Overview
What is consumer behavior?Why study it? How does this relate to marketing?Some “essential tools”
What is Consumer Behavior?
“Activities people undertake when obtaining, consuming, and disposing of products and services”
--- Blackwell, Miniard, & Engel 2001
The study of the cognitive, emotional, and physical activities associated with the perception, evaluation, choice, acquisition, use, and disposition of goods and services.”
OBTAINING
How you decide you want to buyProducts you consider buyingWhere you buy How you pay for productHow you transport product home
CONSUMING
How you use productHow you store the product in your homeWho uses the product How much you consumeHow product compares with expectations
DISPOSING
How you get rid of remaining productHow much you throw away after useIf you resell items yourself or through a consignment storeHow you recycle products
PERSONAL INFLUENCES
Personality Life-stage Values Income Resources
Attitudes Opinions MotivationsFeelings Past ExperiencesKnowledge
SITUATIONAL INFLUENCES
Brand Product FeaturesAdvertising DisplayPromotions Price Quality
Store AmbianceService Convenience Product Loyalty ProgramsPackaging Goals Assortment
InvolvementAvailability
Consumer Behavior
SOCIAL INFLUENCES
Justification Word of MouthCulture EthnicityFamily Peer Groups
What is Consumer Behavior?
An interdisciplinary field
Social Psychology
Cognitive
Psychology
Anthropology
Sociology
Economics
Physiology
Biology Computer Science
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 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.
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
Connections to Marketing
Segmentation & TargetingCustomer Acquisition & RetentionBuilding Loyalty
Positioning & RepositioningNew Products and Shaping Consumer PreferencesCustomer-based Brand Equity
Connections to Marketing
Communicating with your customers
Influence & PersuasionGenerating “buzz”
Pricing your productFramingValue Pricing
Building “community”
Essential Tools:
Demographics / Trends
Family Life Cycle
Consumer Decision Making
Information Processing
Demographic Trends:
Aging population
Cultural Diversity & Globalization
Lifestyle Trends:
Staying connectedCellular phonesPDAsInstant messaging
Health & FitnessWater Low fat foods
Essential Tools:
Demographics / Trends
Family Life Cycle
Consumer Decision Making
Information Processing
Family Life Cycle
Single Newly Full Empty Married Nest Nest
Essential Tools:
Demographics / Trends
Family Life Cycle
Consumer Decision Making
Information Processing
The Rational Decision Process:
Objective: To provide useful information and assurance
Preferences & Beliefs
Need Recognition
Search
Evaluation
Purchase Decision
Post-Purchase Feelings
The Emotional Decision Process:
Awareness
Knowledge
Liking
Conviction
Purchase
Consumption
Objective: To create excitement
The Routine Decision Process:
Purchase decision based on:ImpulseHabitPromotion
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Essential Tools:
Demographics / Trends
Family Life Cycle
Consumer Decision Making
Information Processing
Consumer Information Processing
Stimuli Exposure
Attention
Comprehension
Acceptance
Retention Purchase
Finally, our goals are to …
Develop skills for planning, assessing, and interpreting consumer research
Foster strategic thinking
Improve your ability defend your position both orally and in writing
Enhance job performance by improving your ability to work effectively with others
Assignment
Carefully read the syllabus! There will be a “quiz” on Wednesday
Chapters 1 & 2 of the textbook