Chapter 1: Introduction to Consumer Behavior and Marketing Strategy
Why is CB part of Marketing?
As per the marketing concept
Make profits by satisfying consumers
Consumers will be satisfied if
They purchase and use products and services appropriately
They will purchase and use appropriately if
Marketers understand them
What is CB?
The dynamic interaction of affect and cognition, behavior, and the environment by which human beings
conduct the exchange aspects of their lives.
Consumer behavior is dynamic because the thinking, feelings,
and actions of individual consumers, targeted consumer groups, and society at large are constantly
Consumers’ decisions w.r.t the acquisition, consumption, and disposition of goods, services, time,
and ideas by human decision making units over time.
The processes involved when individuals or groups select, acquire, consume, or dispose of products,
services, ideas, or experiences to satisfy needs and desires.
How is CB studied?
Who uses knowledge about CB?
Part of the Marketing concept
Interaction of consumers’ affect, cognition, behavior and environment
Studied via interpretive, traditional, and marketing science approaches
Useful for consumers, governments, and organizations (both for-profit and not-for-profit)
Chapter 2: A Framework for Consumer Analysis