Buyer Behavior in Marketing Strategy
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Buyer Behavior in Marketing Strategy

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Presentation for doctoral course at Turku School of Economics.

Presentation for doctoral course at Turku School of Economics.

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    Buyer Behavior in Marketing Strategy Buyer Behavior in Marketing Strategy Presentation Transcript

    • BUYER BEHAVIOR INMARKETING STRATEGY (John A. Howard, 2nd ed.)
    • Consumer behavior ”Consumer behavior is the study of how consumers differentiate among products, why people buy and consume products, and the way they think and act when buying and consuming.”
    • Key concepts • product categories • product life cycle (PLC) • customer decision model (CDM)
    • Key concepts (cont’d) • product categories ”group of brands that serve the same generic needs and are perceived similar.” (simplifying) • product life cycle (PLC) • customer decision model (CDM)
    • Key concepts • product categories ”group of brands that serve the same generic needs and are perceived similar.” (simplifying) • product life cycle (PLC) 1. introduction 2. growth 3. maturity • customer decision model (CDM)
    • Consumer Decision Model
    • Problem solving • Extensive (EPS) • Limited (LPS) • Routine (RPS) connected to Stage of PLC, Amount of Information, Speed of Decision
    • Complex factors • evoked set (or consideration set) • brand loyalty (repeat purchases, nonrecursivity) • habitual purchasing (routine problem solving) vs. variety seeking (heterogeneity)
    • Critique • explicit focus on corporate USA – big corporations – consumer power • lack of service focus • hasty generalizations – ”all judgments about the quality of each [instant coffee] brand had largely been made: consumers already had formed an image of each brand.” (impossible?) – compare: ”Consequently, the product sat on shelves unsold. The company had not provided the amount of information – through advertising – that the consumer required.” • outdated examples (GM)
    • More critique ”Not all new products conform to this theoretical life cycle [PLC], but most do, so (...) it is a highly useful description.” – NO! Most new products DIE. – Hence, it is useful if you have tons of products and tons of money; if not, it gives you ZERO help.
    • However… (the positive) • very good methodological implications; practical walkthrough of measurements • involvement of psychology • not only praising quantitative approach, but actually recommending a synthesis
    • Thanks! joni.salminen@tse.fi