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    Consumer Behavior AND Marketing Strategy

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    CB

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    Consumer Behavior AND Marketing Strategy

    Uploaded by

    Huy
    64 views23 pages
    CB

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    CB_01

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    CB

    Copyright:

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    64 views23 pages

    Consumer Behavior AND Marketing Strategy

    Uploaded by

    Huy
    CB

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 23

    CHAPTER 1

    CONSUMER
    BEHAVIOR
    AND
    MARKETING
    STRATEGY

    Copyright © 2017 by The McGraw-Hill Companies, Inc. All rights reserved.


    PART I: INTRODUCTION

    1-2
    Learning Objectives

    L01 Define consumer behavior

    Summarize the applications of consumer behavior


    L02

    Explain how consumer behavior can be used to


    L03 develop marketing strategy

    Explain the components that constitute a conceptual


    L04
    model of consumer behavior

    L05 Discuss issues involving consumption meanings and


    firm attempts to influence them
    Consumer Behavior and Marketing
    Strategy

    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.

    1-4
    Applications in Consumer Behavior

    1. Marketing Strategy

    2. Regulatory Policy

    3. Social Marketing

    4. Informed Individuals

    1-5
    Applications in Consumer Behavior

    United Way
    Campaign Provides
    an Example of Social
    Marketing

    YouTube Spotlight
    1-6
    Marketing Strategy and Consumer Behavior

    1-7
    Market Analysis Components

    1. The Consumers

    2. The Company

    3. The Competitors

    4. The Conditions

    1-8
    Market Segmentation

    Market segmentation
    is a portion of a larger
    market whose needs
    differ from the larger
    market.

    1-9
    Market Segmentation

    Market Segmentation Involves Four Steps:

    1. Identifying Product-Related Need Sets

    2. Grouping Customers with Similar Need Sets

    3. Describing Each Group

    4. Selecting an Attractive Segment(s) to Serve

    1-10
    Market Segmentation

    1-11
    Marketing Strategy
    Ø Marketing Strategy is the answer to the question:
    How will we provide superior customer value to our
    target market?
    Ø This requires the formulation of a consistent
    marketing mix, which includes the
    1. Product
    2. Communications
    3. Price
    4. Distribution, and
    5. Service

    1-12
    Video Application

    The following Video Clip shows how


    digital signage (the communications
    element) keeps the marketing message
    fresh!

    1-13
    1-14
    Consumer Decisions

    The consumer decision process intervenes between


    the marketing strategy, as implemented in the
    marketing mix, and the outcomes.

    The firm can succeed only if consumers see a need


    that 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.

    1-15
    Outcomes

    1. Firm Outcomes

    2. Individual Outcomes

    3. Society Outcomes

    1-16
    Outcomes

    Creating Satisfied Customers

    1-17
    The Nature of Consumer Behavior
    Overall Conceptual Model of Consumer Behavior

    1-18
    The Nature of Consumer Behavior

    External Influences

    • Culture
    • Demographics and social stratification
    • Ethnic, religious, and regional subcultures
    • Families and households
    • Groups

    1-19
    The Nature of Consumer Behavior

    Internal Influences
    • Perception
    • Learning
    • Memory
    • Motives
    • Personality
    • Emotions
    • Attitudes

    1-20
    The Nature of Consumer Behavior

    Self-Concept and Lifestyle

    Self-concept is the totality of an


    individual’s thoughts and
    feelings about oneself.
    Lifestyle is how one lives,
    including the products one buys,
    how one uses them, what one
    thinks about them, and how one
    feels about them.

    1-21
    The Nature of Consumer Behavior

    Situations and Consumer Decisions


    Consumer decisions
    result from perceived
    problems and
    opportunities.
    Consumer problems arise
    in specific situations and
    the nature of the situation
    influences the resulting
    consumer behavior.
    Using Outdoor Media to Trigger Problem Recognition

    1-22
    The Meaning of Consumption

    Ø Consumption has meaning beyond satisfaction


    of minimum or basic consumer needs
    Ø Symbolic needs
    Ø Status
    Ø Identity
    Ø Group acceptance

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