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Consumer BehaviorChapter 01Consumer Behavior and technologyAN INTRODUCTION TO THE STUDY OF CONSUMER BEHAVIOURLearning Objectives1.1To understand the evolution of the marketing concept, what consumer behavior is, and thecomponents of strategic marketing.1.2To understand how technology has benefited both marketers and consumers.1.3To understand providing value and satisfaction and how technology has enhanced customer loyaltyand retention.1.4To understand marketers’ social and ethical responsibilities.1.5To understand consumer decision-making as the foundation of this book.1.6To explain how the knowledge of consumer behavior advances seeking employment aftergraduation.Consumer BehaviorConsumer behavior is the study of consumer choices duringsearching, evaluating, purchasing, andusingproducts and services that they believe would satisfy their needs.1. Individuals or group acquiring using and disposing of products services, ideas or experiences.2. Includes search for information and actual purchase.3. Includes and understanding of consumer thoughts, Feeling, and actions.Consumer Behavior is the study of individual group or organization and all the activities associated withthe purchase use and disposal of goods and services, including the consumeremotional, mentalandbehavioral responsethat purchase precede or follow these activities.According to Berkman and Gilson…………………….Consumer Behavior is the activities of people engaged in actual or potential use to marketItems -Whether products, services, ideas, or experience.MarketingMarketing is the activity, set of institutions, and processes forcreating, communicating, delivering,and offeringsthat have value for customers, clients, partners, and society.Marketing is a process by which company create value for customer and build strong customerrelationship to capture value from customer in return.Marketing is a process ofsensing and responding.Respondingmeans long time relationship.Marketing as the managing profitable customer relationship.Marketing is thecreating valuefrom the customer.
1.1 Learning ObjectiveTo understand the evolution of the marketing concept, what consumer behavior is, and the componentsof strategic marketing.Development of the Marketing Concept01. The production concept:It holds that consumers prefer products that are widely available and inexpensive. Managers ofproduction-oriented businesses concentrate on achieving high production efficiency, low costs, and massdistribution. This orientation makes sense in developing countries such as China, where the largest PCmanufacturer.02. The product concept:The Product concept proposes that consumers favor products offering the most quality, performance, orinnovative features. A new orimproved productwill not necessarily be successful unless it’spriced,distributed, advertised, and sold properly.

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Term
Winter
Professor
NoProfessor
Tags
Marketing, McDonald

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