ch 6-7 MKTG-Consumer Behavior

ch 6-7 MKTG-Consumer Behavior - Consumer & Buyer...

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Foundations of Marketing Stephen Walls
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Where are we? 5 Cs Customer Competencies Competitors Collaborators Context STP Segmentation Targeting Positioning 4 Ps Product Price Place Promotion
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Today’s basic question What is Consumer Behavior & Business Marketing/Behavior and why do Marketers care?
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Agenda The Consumer Behavior Process Consumer Involvement Factors the influence consumer behavior
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Learning Objectives Explain the concept of consumer behavior and why marketers should care. Understand and analyze the stages of consumer decision making in good detail Explain consumer’s post-purchase evaluation process Distinguish among three variations of the consumer decision process: routine, limited, and extended problem solving. Identify major psychological influences on consumer behavior. Identify major socio-cultural influences on consumer behavior.
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Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use.
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Consumer Behavior Consumer Behavior consumers make purchase decisions consumers use and dispose of products = HOW
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Purchase Decision Process Postpurchase Behavior Purchase Evaluation of Alternatives Information Search Need Recognition Cultural, Social, Cultural, Social, Individual and Individual and Psychological Psychological Factors Factors affect affect all steps all steps
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Need Recognition Result of an imbalance between actual and desired states. Marketing can help consumers recognize an imbalance between present status and preferred state. Present Status Preferred State Internal Stimuli External Physiological or Psychological Social or Marketing
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Slide 5-7 Information Search Criteria to consider Options to consider (e.g. specific brands) Value perceptions (performance along various criteria dimensions) Internal Information Search Recall information in memory External Information search Seek information in outside environment Non-marketing controlled Marketing controlled
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Slide 5-9 Example of a Public Source FIGURE 5-2
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Example of a Marketer-Dominated Source
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ch 6-7 MKTG-Consumer Behavior - Consumer & Buyer...

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