Lecture 5 - CONSUMER INSIGHTS & TARGET MARKETS:...

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Click to edit Master subtitle style CONSUMER INSIGHTS & TARGET MARKETS: Understanding Consumer Session 5
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Today’s Class Pick up with The Persuaders Understanding consumer behavior
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Your reaction?
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Class Activity: Persuaders Questions In watching the film clip… 1. Name one new thing you learned about advertising. 2. Name one new thing you learned about yourself. 3. What role, if any, does advertising play in what you identify with, or where you spend most of your time?
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Model of Buyer Behavior
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Influences on Consumer Decision Making Decision Processes Social Influences -culture -subculture -social class -group membership Internal Influences -perception -motivation -learning -attitudes -personality -age groups -lifestyle Situational Influences -physical environment -time Solomon, Marshall, Stuart 2006 PURCHASE
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Key factors that influence consumer behavior
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Characteristics Affecting Consumer Behavior l Culture Forms a person’s wants and behavior; learned by being a member; a society’s personality Subculture Groups with shared value systems based on common life experiences Social Class Society’s divisions who share values, interests and behaviors Example: USC Cultural Social Personal Psychological Key Factors
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Ex) Culture & Subculture based product offerings American Culture http://www.barbie.com Subculture http://www.barbielatina.com 95
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Characteristics Affecting Consumer Behavior l Groups Membership Reference Aspirational Opinion leaders Buzz marketing l Family Many influencers Women = 85% of all purchases l Roles and status Roles= activities perform Status= general esteem given to role by society Cultural Social Personal Psychological Key Factors
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Characteristics Affecting Consumer Behavior l Age and life cycle l Occupation l Economic situation l Lifestyle Activities, interests and opinions Lifestyle segmentation Personality and self-concept Cultural Social Personal Psychological Key Factors
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VALS
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Example: “Experiencers” Experiencers are motivated by self-expression . As young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool. They seek variety and excitement, savoring the new, the offbeat, and the risky. Their energy finds an outlet in exercise, sports, outdoor recreation, and social activities. Experiencers are avid consumers and spend a comparatively
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Lecture 5 - CONSUMER INSIGHTS & TARGET MARKETS:...

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