Customer behavior and satisfaction slides

Customer behavior and satisfaction slides - Understanding...

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Click to edit Master subtitle style 11 Understanding Consumer Behavior What more do you need??
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22 So, what do we know about consumers? n Consumer behavior: the mental and emotional processes and the physical activities that people engage in when they select, purchase, use and dispose of products or services to satisfy particular needs and desires.
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33 Why Study Consumer Behavior n Influence n Satisfy n Protect
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44 Haire’s Shopping List 1 1/2 lbs hamburger 2 loaves Wonder Bread 1 bunch of carrots 1 Rumfords Baking Powder Nescafe Instant coffee 2 cans Del Monte 1 1/2 lbs hamburger 2 loaves Wonder Bread 1 bunch of carrots 1 Rumfords Baking Powder Maxwell House coffee (drip ground) 2 cans Del Monte peaches 5 lbs potatoes
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55 Haire’s Results Nescafe Shopper 48% lazy 48% failed to plan purchases 4% thrifty 12% spendthrift 4% good wife Maxwell Shopper 4% lazy 12% failed to plan purchases 16% thrifty 0% spendthrift 16% good wife
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66 Adapted from 1997 Irwin/McGraw- Hill Influences on Consumer Decision Making Individu al Differenc es Consum er Decisi on Proce ss Situation al Facto rs Cultural/Soci al Environme nt Behavioral
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77 BUYER DECISION PROCESS Problem Recognition Information Search Alternative Evaluation Purchase Decision Post- purchase behavior
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88 Types of consumer decisions n High-involvement decisions n high importance to the individual n lots of information processing n extensive problem solving n Low-involvement decisions n low importance to the individual n little information processing n routinized response behavior
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99 STAGE 2: INFORMATION SEARCH n Internal then external Ask a friend, family, internet, and so on n Extent of Search = Cost vs Benefits When would benefits be high/low? When it’s high-involvement, or self-expressiver
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1010 Information may not exist because: n Firm n Natural asymmetry = inefficient markets n Product characteristics: 1. Search 2. Experience 3. Credence
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1111 Evaluation and Choice n COMPENSATORY PROCESSING n NON- COMPENSATORY PROCESSING n MARKETING IMPLICATIONS:
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1212 Purchasing a Car: A Compensatory Model Evaluative Criteria Importance Weight Honda Accord Dodge Intrepid Nisson Maxima Ford Taurus Toyota Camry Price 5 5 (25) 3 (15) 3 (15) 5 (25) 2 (10) Safety 5 4 (20) 3 (15) 3 (15) 4 (20) 5 (25) Performance 4 3 (12) 5 (20) 4 (16) 4 (16) 5 (20) Image 3 4 (12) 4 (12) 5 (15) 3 (9) 5 (15) Reliability 4 4 (16) 85 3 (12) 74 2 (8) 69 2 (8) 63 4 (16) 86 Rated from 1 (poor) to 5 (good) According to the compensatory decision rule, the Camry would be chosen
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Customer behavior and satisfaction slides - Understanding...

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