CH 1 Intro - F09


Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER CHAPTER 1 CONSUMER CONSUMER BEHAVIOR AND MARKETING STRATEGY STRATEGY 1-1 Consumer Behavior and Marketing Strategy Strategy Consumer behavior is the Consumer study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. 1-2 Applications of Consumer Behavior Applications 1. Marketing Strategy 1. Regulatory Policy 1. Social Marketing 1. Informed Individuals 1-3 Applications of Consumer Behavior Applications United Way Campaign United Provides an Example of Social Marketing Social Courtesy United Way of Metropolitan Chicago 1-4 Marketing Strategy and Consumer Behavior Marketing 1-5 Market Analysis Components Market 1. The Consumers 2. The Company 3. The Competitors 4. The Conditions 1-6 Market Segmentation Market segmentation is a portion of a larger market whose needs differ from the larger market. 1-7 Market Segmentation Market Market Segmentation Involves Four Steps: 1. Identifying Product-Related Need Sets 2. Grouping Customers with Similar Need Sets 3. Describing Each Group 4. Selecting an Attractive Segment(s) to Serve 1-8 Market Segmentation Market Market Segment Attractiveness Worksheet Market 1-9 Marketing Strategy Marketing Marketing Strategy is the answer to the question: Marketing How will we provide superior customer value to our target market? This requires the formulation of a consistent marketing mix, which includes the marketing 1. Product 2. Price 3. Communications 4. Distribution, and 5. Services 1-10 Consumer Decisions Consumer The consumer decision process intervenes between the marketing strategy, as implemented in the marketing marketing mix, and the outcomes. marketing outcomes The firm can succeed only if consumers see a need that its product can solve, become aware of the product and its capabilities, decide that it is the best available solution, proceed to buy it, and become satisfied with the result of the purchase. 1-11 Outcomes Outcomes 1. Firm Outcomes 2. Individual Outcomes 3. Society Outcomes 1-12 Outcomes Outcomes Creating Satisfied Customers Creating 1-13 The Nature of Consumer Behavior The Overall Conceptual Model of Consumer Behavior 1-14 The Nature of Consumer Behavior External Influences External The following are the major external influences: • Culture • Demographics and social stratification • Ethnic, religious, and regional subcultures • Families and households • Groups 1-15 The Nature of Consumer Behavior Internal Influences Internal Internal influences include: • Perception • Learning • Memory • Motives • Personality •Emotions •Attitudes 1-16 The Nature of Consumer Behavior Self-Concept and Lifestyle Self-Concept Self-concept is the totality of an individual’s thoughts and feelings about oneself. Lifestyle is how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them. 1-17 The Nature of Consumer Behavior Situations and Consumer Decisions Situations Consumer decisions result from perceived problems and opportunities. Consumer problems arise in specific situations and the nature of the situation influences the resulting consumer behavior. consumer Using Outdoor Media to Trigger Problem Recognition Using 1-18 ...
View Full Document

This note was uploaded on 02/22/2011 for the course BMGT 451 taught by Professor Staff during the Fall '08 term at Maryland.

Ask a homework question - tutors are online