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Consumer Behaviour and Marketing Strategy Project

Consumer Behaviour and Marketing Strategy Project

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Published by Sophia Ali

http://Pakistanmba.jimdo.com
For Free Downloading of this report and for more projects,assignments,reports on Marketing,Management
Marketing Management,
Accounting,
Economics
Human Resource,
Organizational Behaviour,
Financial Management
Cost Accounting
VISIT
http://Pakistanmba.jimdo.com

http://Pakistanmba.jimdo.com
For Free Downloading of this report and for more projects,assignments,reports on Marketing,Management
Marketing Management,
Accounting,
Economics
Human Resource,
Organizational Behaviour,
Financial Management
Cost Accounting
VISIT
http://Pakistanmba.jimdo.com

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Published by: Sophia Ali on May 12, 2009
Copyright:Attribution Non-commercial

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09/17/2010

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HTTP://PAKISTANMBA.JIMDO.COMFOR DOWNLOADING THIS REPORT AND FOR MOREPROJECTS, ASSIGNMENTS, REPORTS ONMARKETING,MANAGEMENT,ECONOMICSMARKETING MANAGEMENT,ACCOUNTING,HUMAN RESOURCE,ORGANIZATIONAL BEHAVIOR,FINANCIAL MANAGEMENTCOST ACCOUNTINGVISITHTTP://PAKISTANMBA.JIMDO.COM
Consumer Behavior and Marketing Strategy
The study of consumers helps firms and organizations improve their marketingstrategies by understanding issues such as how
 
The psychology of how consumers think, feel, reason, and select betweendifferent alternatives (e.g., brands, products);
 
The the psychology of how the consumer is influenced by his or herenvironment (e.g., culture, family, signs, media);
 
The behavior of consumers while shopping or making other marketingdecisions;
 
Limitations in consumer knowledge or information processing abilities influencedecisions and marketing outcome;
How consumer motivation and decision strategies differ between products thatdiffer in their level of importance or interest that they entail for the consumer;and
 
How marketers can adapt and improve their marketing campaigns andmarketing strategies to more effectively reach the consumer.
 
Understanding these issues helps us adapt our strategies by taking the consumer intoconsideration. For example, by understanding that a number of different messagescompete for our potential customers’ attention, we learn that to be effective,advertisements must usually be repeated extensively. We also learn that consumerswill sometimes be persuaded more by logical arguments, but at other times will bepersuaded more by emotional or symbolic appeals. By understanding the consumer,we will be able to make a more informed decision as to which strategy to employ.One "official" definition of consumer behavior is "The study of individuals, groups, ororganizations and the processes they use to select, secure, use, and dispose ofproducts, services, experiences, or ideas to satisfy needs and the impacts that theseprocesses have on the consumer and society." Although it is not necessary tomemorize this definition, it brings up some useful points:
Behavior occurs either for the individual, or in the context of a group (e.g.,friends influence what kinds of clothes a person wears) or an organization(people on the job make decisions as to which products the firm should use).
 
Consumer behavior involves the use and disposal of products as well as thestudy of how they are purchased. Product use is often of great interest to themarketer, because this may influence how a product is best positioned or howwe can encourage increased consumption. Since many environmental problemsresult from product disposal (e.g., motor oil being sent into sewage systems tosave the recycling fee, or garbage piling up at landfills) this is also an area ofinterest.
 
Consumer behavior involves services and ideas as well as tangible products.
 
 
The impact of consumer behavior on society is also of relevance. For example,aggressive marketing of high fat foods, or aggressive marketing of easy credit,may have serious repercussions for the national health and economy.
 
There are four main applications of consumer behavior:
The most obvious is for
marketing strategy 
—i.e., for making better marketingcampaigns. For example, by understanding that consumers are more receptiveto food advertising when they are hungry, we learn to schedule snackadvertisements late in the afternoon. By understanding that new products areusually initially adopted by a few consumers and only spread later, and thenonly gradually, to the rest of the population, we learn that (1) companies thatintroduce new products must be well financed so that they can stay afloat untiltheir products become a commercial success and (2) it is important to pleaseinitial customers, since they will in turn influence many subsequent customers’brand choices.
 
A second application is
 public policy 
. In the 1980s, Accutane, a near miraclecure for acne, was introduced. Unfortunately, Accutane resulted in severe birthdefects if taken by pregnant women. Although physicians were instructed towarn their female patients of this, a number still became pregnant while takingthe drug. To get consumers’ attention, the Federal Drug Administration (FDA)took the step of requiring that very graphic pictures of deformed babies beshown on the medicine containers.
 
Social marketing
involves getting ideas across to consumers rather than sellingsomething. Marty Fishbein, a marketing professor, went on sabbatical to workfor the Centers for Disease Control trying to reduce the incidence oftransmission of diseases through illegal drug use. The best solution, obviously,would be if we could get illegal drug users to stop. This, however, was deemedto be infeasible. It was also determined that the practice of sharing needleswas too ingrained in the drug culture to be stopped. As a result, usingknowledge of consumer attitudes, Dr. Fishbein created a campaign thatencouraged the cleaning of needles in bleach before sharing them, a goal thatwas believed to be more realistic.
 
As a final benefit, studying consumer behavior should make us betterconsumers. Common sense suggests, for example, that if you buy a 64 liquidounce bottle of laundry detergent, you should pay less per ounce than if youbought two 32 ounce bottles. In practice, however, you often pay a size
 premium
by buying the larger quantity. In other words, in this case, knowingthis fact will sensitize you to the need to check the unit cost labels todetermine if you are
really 
getting a bargain.
 

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