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Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
Buyer Behavior in Marketing Strategy
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.

Published in: Education, Business, Technology
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  1. BUYER BEHAVIOR INMARKETING STRATEGY (John A. Howard, 2nd ed.)
  2. 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.”
  3. Key concepts • product categories • product life cycle (PLC) • customer decision model (CDM)
  4. 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)
  5. 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)
  6. Consumer Decision Model
  7. Problem solving • Extensive (EPS) • Limited (LPS) • Routine (RPS) connected to Stage of PLC, Amount of Information, Speed of Decision
  8. Complex factors • evoked set (or consideration set) • brand loyalty (repeat purchases, nonrecursivity) • habitual purchasing (routine problem solving) vs. variety seeking (heterogeneity)
  9. 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 • outdated examples (GM)
  10. 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.
  11. However… (the positive) • very good methodological implications; practical walkthrough of measurements • involvement of psychology • not only praising quantitative approach, but actually recommending a synthesis
  12. Thanks! joni.salminen@tse.fi

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