Know that actual marketing managers, as well as those who regulate marketing activities, can and do use consumer behavior concepts.
Understand the nature of customer value, the importance of providing superior customer value, and the role that a knowledge of consumer behavior plays in strategies to create customer value.
Understand the overall relationship between marketing strategy and consumer behavior.
Understand that consumers can be viewed as problem solvers and decision-makers seeking to maintain or enhance their lifestyles.
Understand that a knowledge of consumer behavior provides managers with a set of appropriate questions and a guideline to action, not a blueprint or prescription for success.
What is Consumer Behavior?
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.
Why study consumer behavior?
Consumer behavior theory provides the manager with the proper questions to ask
Marketing practice designed to influence consumer behavior influences the firm, the individual, and society
All marketing decisions and regulations are based on assumptions about consumer behavior
Applications of Consumer Behavior
To satisfy target consumer needs
To protect consumers
To help consumers
To better understand how societies function
Orientations in the Study of Consumer Behavior
History and geography
The study of people within and across cultures
Emphasis on cross-cultural differences
Questioning of assumptions within own culture
Study of human thinking and behavior
Cognition (thinking), perception
Attention and its limitations
“ Learning”—e.g., acquired tastes
Cultural and interpersonal influences on consumption—e.g.,