1. intro to cb^

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1. intro to cb^

  1. 1. Introduction to Consumer Behavior By Dr. Kevin Lance Jones 1
  2. 2. Intro to Consumer Behavior • Consumer behavior-what is it? • Applications • Consumer Behavior and Strategy – Elements of strategy – Consumer Analysis • Consumer behavior outcomes 2
  3. 3. One Definition • 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. 3
  4. 4. Applications of Consumer Behavior • Marketing Strategy • Regulatory (Public) Policy • Social Marketing • Personal Consumer Skills 4
  5. 5. Orientations in the Study of Consumer Behavior • Anthropology • Economics • History and geography • Psychology • Sociology 5
  6. 6. Anthropology • The study of people within and across cultures • Emphasis on crosscultural differences • Questioning of assumptions within own culture 6
  7. 7. Economics • Basic economic issues – Supply and demand – Rational decision making – Perfect information • Emphasis on predicting behavior • Complications in real life • Behavioral economics— e.g., ―mental accounting‖ 7
  8. 8. History and Geography • Origins of behavior, perspectives, and traditions • Impact of geography on individuals – Isolation – Language development – Climate • Geographic determinism 8
  9. 9. Psychology • Study of human thinking and behavior • Some issues – Personality – Personal development – Cognition (thinking), perception – Attention and its limitations – ―Learning‖—e.g., acquired tastes 9
  10. 10. Sociology • Cultural and interpersonal influences on consumption—e.g., – Fads, fashions – Diffusion of innovation – Popular culture 10
  11. 11. Marketing Strategy and Consumer Behavior MARKET ANALYSIS MARKETING STRATEGY MARKET SEGMENTATION CONSUMER DECISION PROCESSES OUTCOMES 11
  12. 12. Market Analysis Components • • • • Consumers Firms Competitors Conditions (environment) 12
  13. 13. Market Segmentation • Product-related need sets • Segments: customers with similar needs and responses • Segment description • Segment selection 13
  14. 14. Elements in Marketing Strategy • • • • • Product Communications Price Distribution Service 14
  15. 15. Outcomes • Firm – Product position/perception – Sales – Customer satisfaction • Society – Economic – Physical environment – Social welfare • Individual – Need satisfaction – Injurious consumption 15
  16. 16. The Nature of Consumer Behavior • External Influences • Internal Influences • Self-Concept • Situations • Experiences and acquisitions 16
  17. 17. Why We Buy: Some Issues • Questions academics answer relatively well: Whether, how, why? • Questions academics answer less well: – How much? – Which effect is stronger? – What if…? 17
  18. 18. Why We Buy Issues • “Conversion‖ and ―interception‖ rates • The ―Transition Zone‖ • Thinking like a consumer who is in the shopping setting! • A note on exam questions from the text: You need to have read the book to be able to answer! (The answers are not obvious.) 18

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