8 - Consumer Behavior Marketing Management Spring 2009...

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Consumer Behavior Marketing Management Spring 2009 Jinsuh Lee
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2 Spring 2009 - MGMT 324 Jinsuh Lee - Purdue University Understanding Consumers Consumer behavior is never simple, yet understanding it is the essential task of marketing management Learning what consumers do and buy is possible through basic research, but learning about the whys of consumer behavior is more difficult Consumer are from Mars and consumers are from Venus
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A perspective “There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” 3 Spring 2009 - MGMT 324 Jinsuh Lee - Purdue University
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4 Spring 2009 - MGMT 324 Jinsuh Lee - Purdue University Key Questions How do consumer characteristics influence buying behavior? What major psychological processes influence consumer responses to the marketing program? How do consumers make purchasing decisions? How do marketers analyze consumer decision making?
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5 Spring 2009 - MGMT 324 Jinsuh Lee - Purdue University Organizational Charts
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6 Spring 2009 - MGMT 324 Jinsuh Lee - Purdue University Customers are v___-m________ Within the bounds of search costs, limited knowledge, mobility, and income, customers behave in a manner that they believe will maximize the value they obtain They form value expectations and act on them Whether or not the offer lives up to these expectations influences both satisfaction and loyalty
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7 Spring 2009 - MGMT 324 Jinsuh Lee - Purdue University Customer Satisfaction Expectations are Based on Customer’s Past Buying Experiences, the Opinions of Friends, & Marketer and Competitor Information and Promises. Product Falls Short of Expectations Customer is Dissatisfied Product Matches Expectations Customer is Satisfied Product Exceeds Expectations Customer is Highly Satisfied or Delighted!
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8 Spring 2009 - MGMT 324
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8 - Consumer Behavior Marketing Management Spring 2009...

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