solomon_cb08_01 - Chapter 1 Consumers Rule CONSUMER...

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Chapter 1 Consumers Rule CONSUMER BEHAVIOR, 8e Michael Solomon
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Prentice-Hall, cr 2009   1- 2 Chapter Objectives When you finish this chapter you should understand why: Consumer behavior is a process. Consumers use products to help them define their identities in different settings. Marketers need to understand the wants and needs of different consumer segments. The Web is changing consumer behavior. Consumer behavior relates to other issues in our lives.
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Prentice-Hall, cr 2009   1- 3 Chapter Objectives (cont.) Consumer activities can be harmful to individuals and to society. Many different types of specialists study consumer behavior. There are two major perspectives that seek to understand and study consumer behavior.
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Prentice-Hall, cr 2009   1- 4 Aspects of Consumer Behavior Gail, business student and consumer Segmented by marketers by demographics Market segmentation: targeting a brand to specific groups of consumers Influenced by peer groups (such as sorority sisters) Exposed to competing brands seeking her loyalty Evaluates products by the appearance, taste, texture, smell
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Prentice-Hall, cr 2009   1- 5 What is Consumer Behavior? Consumer behavior: the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires.
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Prentice-Hall, cr 2009   1- 6 Consumer Behavior is a “Process” Figure 1.1
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Prentice-Hall, cr 2009   1- 7 Actors in Consumer Behavior Consumer: a person who identifies a need or desire, makes a purchase, and then disposes of the product. Purchaser versus user versus influencer Organization/group as consumer
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Prentice-Hall, cr 2009   1- 8 Consumers’ Impact on Marketing Understanding consumer behavior is good business Understanding people/organizations to satisfy consumers’ needs Knowledge and data about customers: Help to define the market Identify threats/opportunities to a brand
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Prentice-Hall, cr 2009   1- 9 Segmenting Consumers Market segmentation is even more important today Promotion budgets used toward more specialized media McDonalds uses ethnic programming, women’s blogs, in-store videos for young men Marketers build brand loyalty by going after heavy users Taco Bell developed higher-calorie Chalupa for its loyal customers
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Prentice-Hall, cr 2009   1- 10
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This document was uploaded on 10/27/2011 for the course BUSINESS ALL at Texas Tech.

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solomon_cb08_01 - Chapter 1 Consumers Rule CONSUMER...

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