Organizational Decision Making ,Household Decision Making ,Organizational Buyers, Business-to-Business (B2B) Marketers ,Roles in Decision Making ,Influence in Decision Making ,Family Life Cycle , Factor Affect Family Conflict ,Who Makes Key Decisions in the Family?
Consumer Behavior , Learning and Memory, Understand how consumers learn about products and services ,Conditioning results in learning , Learned associations with brands generalize to other products, and why this is important to marketers ,here is a difference between classical and instrumental conditioning, and both processes help consumers to learn about products, learn about products by observing others' behavior
Personality ,Freudian Theory ,Marketing strategies based on personality differences ,Motivational Research ,Neo-Freudian Theories ,Trait Theory ,Brand Personality ,Psychographic techniques ,The VALS™ Segments (value and life style) ,The Dark Side of Consumer Behavior ,Addictive Consumption
Organizational Decision Making ,Household Decision Making ,Organizational Buyers, Business-to-Business (B2B) Marketers ,Roles in Decision Making ,Influence in Decision Making ,Family Life Cycle , Factor Affect Family Conflict ,Who Makes Key Decisions in the Family?
Consumer Behavior , Learning and Memory, Understand how consumers learn about products and services ,Conditioning results in learning , Learned associations with brands generalize to other products, and why this is important to marketers ,here is a difference between classical and instrumental conditioning, and both processes help consumers to learn about products, learn about products by observing others' behavior
Personality ,Freudian Theory ,Marketing strategies based on personality differences ,Motivational Research ,Neo-Freudian Theories ,Trait Theory ,Brand Personality ,Psychographic techniques ,The VALS™ Segments (value and life style) ,The Dark Side of Consumer Behavior ,Addictive Consumption
Task: Define extensive problem solving, limited problem solving, and routinized response behaviour. What are the differences among the three decision-making approaches? What type of decision process would you expect most consumers to follow in their first purchase of a new product or brand in each of the following areas: (a) chewing gum, (b) sugar, (c) men’s aftershave lotion, (d) carpeting, (e) paper towels, (f) a cellular telephone, and (g) a luxury car? Explain your answers
Learning Objectives:
- To Understand What Consumer Behavior Is and the Different Types of Consumers.
- To Understand the Relationship Between Consumer Behavior and the Marketing Concept, the Societal Marketing Concept, as well as Segmentation, Targeting, and Positioning.
- To Understand the Relationship Between Consumer Behavior and Customer Value, Satisfaction, Trust, and Retention.
- To Understand How Marketers are Increasingly Able to Reach Consumers via Social Media and Better Satisfy the Needs and Wants of Consumers.
- To Understand the Makeup and Composition of a Model of Consumer Behavior.
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making.
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India.
Task: Define extensive problem solving, limited problem solving, and routinized response behaviour. What are the differences among the three decision-making approaches? What type of decision process would you expect most consumers to follow in their first purchase of a new product or brand in each of the following areas: (a) chewing gum, (b) sugar, (c) men’s aftershave lotion, (d) carpeting, (e) paper towels, (f) a cellular telephone, and (g) a luxury car? Explain your answers
Learning Objectives:
- To Understand What Consumer Behavior Is and the Different Types of Consumers.
- To Understand the Relationship Between Consumer Behavior and the Marketing Concept, the Societal Marketing Concept, as well as Segmentation, Targeting, and Positioning.
- To Understand the Relationship Between Consumer Behavior and Customer Value, Satisfaction, Trust, and Retention.
- To Understand How Marketers are Increasingly Able to Reach Consumers via Social Media and Better Satisfy the Needs and Wants of Consumers.
- To Understand the Makeup and Composition of a Model of Consumer Behavior.
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making.
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India.
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making.
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India.
Assignment needs to make sure it relates to this week’s readings a.docxrock73
Assignment needs to make sure it relates to this week’s readings and lecture. The assignment also needs demonstrate an understanding of lesson concept and clearly present well-reasoned ideas and concepts.
Consumer Decision Making
Welcome class to week six of the course, we only have three weeks left to go, yeah. We have officially covered over the last five weeks the foundations of what marketing is, along with discussing in depth the elements (four P’s) of the marketing mix. This week, we are going to discover what I like to call the fifth P of the marketing mix, “people.” We are going to learn all about the consumer this week and the vital role “People,” also known as the consumers play within the wonderful world of marketing. Let’s not waste anymore time and jump right into the role of a consumer.
The Importance of Understanding Consumer Behavior
Consumers’ product and service preferences are constantly changing. Marketing managers must understand these desires in order to create a proper marketing mix for a well-defined market. So it is critical that marketing managers have a thorough knowledge of consumer behavior. Consumer behavior describes how consumers make purchase decisions and how they use and dispose of the purchased goods or services. Understanding how consumers make purchase decisions can help marketing managers know how to meet the demands, needs, and criterion of the consumer.
The Consumer Decision Making Process
When buying products, particularly new or expensive items, consumers generally follow the consumer decision-making process, a five-step process used by consumers when buying goods or services. The five steps of the consumer decision-making process are: (1) need recognition, (2) information search, (3) evaluation of alternatives, (4) purchase, and (5) post-purchase behavior.
These five steps represent a general process that can be used as a guide for studying how consumers make decisions. It is important to note, though that consumers’ decisions do not always proceed in order through all of these steps. In fact, the consumer may end the process at any time or may not even make a purchase. Let’s discuss the five steps of the consumer decision-making process in greater detail.
1. Need Recognition
The first stage in the consumer decision-making process is need recognition. Need recognition is the result of an imbalance between actual and desired states. The imbalance arouses and activates the consumer decision-making process. Need recognition is triggered when a consumer is exposed to either an internal or an external stimulus, which is any unit of input affecting one or more of the five senses: sight, smell, taste, touch, and hearing.
Internal stimuli are occurrences you experience such as hunger or thirst. External stimuli are influences from an outside source such as someone’s recommendation of a new restaurant, the color of an automobile, the design of a package, a brand name mentioned by a friend, or a ...
Motivation and global values, Needs Vs. Wants , Maslow 's Hierarchy, physiological needs ,Safety needs, Belongingness and love needs , Esteem needs, self-actualization needs, types of motivational conflicts
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
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Kyiv PMDay 2024 Summer
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
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VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
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2. INTRODUCTION
The purchase is only the visible part of a
more complex decision process created by
the consumer for each buying decision he
makes.
But what happens before and after this
purchase?
What are the factors influencing the choice
of product purchased by the consumer?
Let’s focus on the Consumer Buying Decision
Process and the stages that lead to
purchase a new product.
3. Five Factors
influencing
Decisions
1. Level of consumer involvement
2. Length of time to make decision
3. Cost of good or service
4. Degree of information search
5. Number of alternatives considered
4. Consumer
involvement
Involvement is a person’s perceived relevance of the
object based on their inherent needs, values, and
interests
Consumer involvement refers to degree of information
processing or extent of importance that a consumer
attaches to a product.
The degree of involvement has a very significant effect
on consumer behavior, When more expensive products
are to be purchased, the consumer gets more involved
in purchase process
8. Decision making
The thought process of selecting a logical choice
from the available options When trying to make a
good decision, a person must weight the positives
and negatives of each option, and consider all the
alternatives. For effective decision making, a
person must be able to forecast the outcome of
each option as well, and based on all these items,
determine which option is the best for that
particular situation.
10. Cognitive
decision
making
A cognitive purchase decision is the
outcome of a series of stages that
results in the selection of one product
over competing options.
11. Stages in consumer
decision making
Problem recognition
Information search
Evaluation of alternatives
Product choice
Outcomes
13. 2-Information search
Once a consumer recognize a problem,
he or she needs to solve it
Information search is the process by
which we survey the environment for
appropriate data to make a reasonable
decision
Rrepurchase or ongoing search
Internal or external search
Online search
14. 3-Evaluation
alternatives
The process of analyzing and evaluating
alternatives applies evaluation criteria to
alternatives or options in a way that
facilitates decision making. This may be a
one-step or multi-step process, depending on
the complexity of the alternatives and the
decision. The evaluation process may include
refining alternatives to develop the final
alternative or option.
17. Strategic
implications of
product
categorization
The way we categorize products has a lot of
strategic implications that’s because this process
affects which products consumers will compare
to our product and also the criteria they will use
to decide if they like us or other guys.
• Position a product
• Identify competitors
• Create an exemplar product
• Locate products in a store
18. Extensive
problem
solving
With complex decision making
We use noncompensatory decision rules
Elimination by aspects rule
Lexicographic rule
Conjunctive rule
19. 4. Product
Choice
Once we assemble and evaluate relevant options from
a category, we must choose among them Decision rules
can be very simple or very complicated Prior
experience with (similar) product Present information
at time of purchase Beliefs about brands (from
advertising)
20. 5-Postpurchase
evaluation
It occurs when we experience the product or service we
selected and decide whether it meets our expectations.
Our overall reactions to a product after we have bought it
(consumer satisfaction/dissatisfaction).
Consumer satisfaction can be defined as how well the
products actual performance met the perceived expectations.
A satisfied consumer is likely to become a regular and help in
creating a positive word of mouth reputation for the product.
Three possible outcomes are possible with regard to
satisfaction.
– Disappointed : when product fails to match the expectations
– Satisfied : performance meets the expected level
– Delighted : performance is beyond the expected level
The actual performance level has to be communicated
accurately to avoid misleading and ultimately dissatisfying
consumers.
21. Habitual decision
making
Describes the choice we make with little or no
conscious effort, many purchase decisions are so
routine we may not realize we have made them until we
look in our shopping carts
Examples of routine purchases are the daily newspaper,
regular coffee order:
• Decision is make quickly
• Level of involvement in the selection process is
minimum
• Product is evaluated after the purchase
• Low cost goods
• High frequency of buying
• Consumer is likely to stay with one brand
22. Priming and
nudging
Priming refers to environmental cues that influence us.
A nudge is a subtle change that influences behavior.
The default bias refers to a tendency for people to
comply with a requirement rather than to make the
effort not to comply.
23. Decision making
biases and
shortcuts
Mental accounting helps to explain the way we post a
problem (called framing) and whether it is phrased in terms
of gains or losses influences our decision. The sunk-cost
fallacy says that having paid for something makes us
reluctant to waste it.
24. Heuristics
1. Covariation means that we tend to assume certain attributes , we
may believe that a clean car is in good mechanical condition.
2. Country of origin is a determinant attribute in the decision-
making process.
a. Consumers strongly associate certain items with specific
countries and products from those countries benefit from these
linkages.
b. The tendency to prefer products or people of one’s own culture
over those from another country is called ethnocentrism
3. Familiar brand names is a short cut.
4. Higher prices may indicate higher quality.
25. Effective
decision making
We make some decision on the basis of an emotional
reaction rather than as the outcome of a rational
thought process.
Affective decision making occurs when our emotional
reactions determine how we react to a product,
marketers often try to elicit a positive emotional
response via advertising or other communication
channels so that consumers from a bond with their
offering.