Introduction to Consumer Behavior

By Dr. Kevin Lance Jones
1

Intro to Consumer Behavior ‡ Consumer behavior-what is it? ‡ Applications ‡ Consumer Behavior and Strategy ± Elements of strategy ± Consumer Analysis ‡ Consumer behavior outcomes 2 .

and dispose of products. or organizations and the processes they use to select. services. secure. 3 . use. groups.One Definition ‡ Consumer behavior: the study of individuals. experiences. or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Applications of Consumer Behavior ‡ Marketing Strategy ‡ Regulatory (Public) Policy ‡ Social Marketing ‡ Personal Consumer Skills 4 .

Orientations in the Study of Consumer Behavior ‡ Anthropology ‡ Economics ‡ History and geography ‡ Psychology ‡ Sociology 5 .

Anthropology ‡ The study of people within and across cultures ‡ Emphasis on crosscultural differences ‡ Questioning of assumptions within own culture 6 .

Economics ‡ Basic economic issues ± Supply and demand ± Rational decision making ± Perfect information ‡ Emphasis on predicting behavior ‡ Complications in real life ‡ Behavioral economics e. mental accounting .g..

and traditions ‡ Impact of geography on individuals ± Isolation ± Language development ± Climate ‡ Geographic determinism . perspectives.History and Geography ‡ Origins of behavior.

Psychology ‡ Study of human thinking and behavior ‡ Some issues ± Personality ± Personal development ± Cognition (thinking). acquired tastes ..g. perception ± Attention and its limitations Learning e.

± Fads.Sociology ‡ Cultural and interpersonal influences on consumption e.g. fashions ± Diffusion of innovation ± Popular culture 10 ..

Marketing Strategy and Consumer Behavior MARKET ANALYSIS MARKET SEGMENTATION MARKETING STRATEGY CONSUMER DECISION PROCESSES OUTCOMES 11 .

Market Analysis Components ‡ ‡ ‡ ‡ Consumers Firms Competitors Conditions (environment) 12 .

Market Segmentation ‡ Product-related need sets ‡ Segments: customers with similar needs and responses ‡ Segment description ‡ Segment selection 13 .

Elements in Marketing Strategy ‡ ‡ ‡ ‡ ‡ Product Communications Price Distribution Service 14 .

Outcomes ‡ Firm ± Product position/perception ± Sales ± Customer satisfaction ‡ Society ± Economic ± Physical environment ± Social welfare ‡ Individual ± Need satisfaction ± Injurious consumption 15 .

The Nature of Consumer Behavior ‡ External Influences ‡ Internal Influences ‡ Self-Concept ‡ Situations ‡ Experiences and acquisitions 16 .

why? ‡ Questions academics answer less well: ± How much? ± Which effect is stronger? ± What if ? 17 . how.Why We Buy: Some Issues ‡ Questions academics answer relatively well: Whether.

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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