Consumer Beh ch. 1

  1. What is consumer behavior?
    study of individuals, groups, or organizations, looking at why and how they buy and use what they purchase/consume
  2. Marketing Strategy
    all tactics are based on how consumers behave
  3. Regulatory Policy
    FDA, cusumer deception, health & safety
  4. Social Marketing
    application of marketing techniques that are positive to society
  5. Informed Inividuals
    help with purchases (why I buy things)
  6. Market Analysis Components
    • Consumers
    • Company
    • Competitors
    • Conditions
  7. Consumers Analysis
    anticipate what they want through research
  8. Company Analysis
    can my company meet consumer needs
  9. Competitor Analysis
    what are my competitors doing
  10. Condition Analysis
    uncontrollable factors
  11. Market Segmentation
    a portion of the larger market whose needs differ from that market
  12. Market Segmentation Components
    • identifying product
    • grouping customers with similar need sets
    • describing each group (age, income, gender)
    • selecting an attractive segment to serve
  13. Marketing Strategy
    • asks.... how will we provide superior customer value to our target market
    • need to formulate marketing mix
  14. Marketing Mix
    • Product
    • Price
    • Communications (promotion)
    • Distribution (place)
  15. Consumer Decisions
    this process intervenes between the marketing strategy and the outcomes
  16. Outcomes
    • Firm outcomes
    • Individual outcomes
    • Society outcomes
  17. Firm Outcomes
    • product position
    • sales/profit
    • customer satisfaction
  18. Individual Outcomes
    need satisfaction
  19. Society Outcomes
    choices to buy and save affect society
  20. Exturnal Influences (Nature of CB)
    • culture
    • demographics
    • ethnic, religious, and regional subcultures
    • families and households
  21. Internal Influences (Nature of CB)
    • perception
    • learning
    • memory
    • motives
    • personality
    • emotions
    • attitudes
  22. Self Concepts
    totality of an individual's thoughts and feelings about oneself
  23. Lifestyle
    • how one lives, including the products they buy
    • how they use them
    • what they think about them
    • how they feel about them
  24. consumer decisions
    result from perceived problems and opportunities
  25. consumer problems
    arise in specific situations and the nature of the situation influences the resulting consumer behavior
Card Set
Consumer Beh ch. 1
Consumer Beh