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PRINCIPLES OF MARKETING-Handout 4 - Consumer Buyer Behaviour.pdf

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‘Ourbuying decisions are affected by a wide range ofcomplex combination of external and internalinfluences…’Kotler & Armstrong, 20171TOPIC 4: UNDERSTANDINGCONSUMER BUYER BEHAVIOUR
Objectives of this topic2By the end of this topic, we should be able to:Define the consumer market and explain how theydiffer from business markets.Identify the Consumer buying roles.Discuss factors affecting consumer behaviourDistinguish between types of consumer buyerbehaviourDescribe the Consumer decision making processExplain some Consumer buying models
Opening Case: LENOVO: Understanding Customersand Building Profitable Relationships3Opening case analysis by Group 4What are the keyissues arising….
Key Learning from Lenovo Case‘Theglobal success of Lenovo is rooted in its deepand sound understanding of customers and itsability to build profitable relationships. Thebusiness model is thus built on customersatisfaction, innovation, and operationalefficiency…..’4
IntroductionWhat is the difference between a consumer marketand a business market?Consumer market: consists of buyers who purchase goods andservice for personal/individual satisfactionBusiness market: is one which consists of all organizations thatpurchase goods and services either to be used in theproductionof other goods and services; orthat are re-soldto others,rented or suppliedto others; or used in thedayto dayoperations of the business.In topics 4 and 5, we intend to learn more about these buyers5
CONSUMER BEHAVIOUR (contd)6IntroductionThe study of consumers helps firms and organizations improvetheir marketing strategies by understanding issues such ashow1.The psychology of how consumers think, feel, reason, andselect between different alternatives (e.g., brands,products);2.The psychology of how the consumer is influenced by hisor her environment (e.g., culture, family, signs, media);3.The behavior of consumers while shopping or makingother marketing decisions;
CONSUMER BEHAVIOUR (contd)74. Limitations in consumer knowledge or informationprocessing abilities influence decisions and marketingoutcome;5. How consumer motivation and decision strategies differbetween products that differ in their level of importanceor interest that they entail for the consumer; and6. How marketers can adapt and improve their marketingcampaigns and marketing strategies to more effectivelyreach the consumer.
Introduction (contd)8Understanding these issues helps marketers adapt theirstrategies by taking the consumer into consideration.For example, by understanding that a number of differentmessages compete for our potential customers’ attention,we learn that to be effective, advertisements must usually berepeated extensively.We also learn that consumers will sometimes be persuadedmore by logical arguments, but at other times will bepersuaded more by emotional or symbolic appeals.By understanding the consumer, we will be able to make amore informed decision as to which strategy to employ.

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