Session 2 -Consumer Behavior I-1

Session 2 -Consumer Behavior I-1 - Consumer Decision Making...

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1 Consumer Decision Making I Session 2 MKTG-UB.0001 – Professor Greenleaf Fall 2011
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Session 2 – Consumer Behavior I 2 Today’s Agenda Consumer decision making process Why firms need to understand the consumer decision process Best strategies for each decision step Why consumers skip decision steps (begin)
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3 1. Why do firms need to understand consumer decision making?
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Session 2 – Consumer Behavior I 4 We discussed that successful firms satisfy consumer needs But – consumers usually don’t buy as soon as they have a need Go through a decision-making process
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Session 2 – Consumer Behavior I 5 Must understand decision process to create best marketing strategy and mix Which process do consumers use for our product? How can we influence consumers at each stage? How can we move consumers to the next stage? Does process vary across consumers? across purchase situations?
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6 2. Steps of consumer decision-making process
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Session 2 – Consumer Behavior I Consumer Decision Making Process Need Recognition Information Search Compare Alternatives Purchase Post-Purchase Evaluation
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Session 2 – Consumer Behavior I 8 Look at each stage more closely
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Session 2 – Consumer Behavior I 9 Need Recognition: No need = no purchase! What needs does a 3D TV satisfy? How can Samsung and electronics store Motivate consumers to recognize need for 3D TV? Move consumers to next stage?
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Session 2 – Consumer Behavior I 10 Don’t get the stage wrong Suppose we treat a consumer as if she is in purchase stage But actually she is in need recognition How will consumer react?
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Session 2 – Consumer Behavior I 11 2) Gather information Gather information on product’s attributes Different kinds of attributes for 3D TV Attribute perceptions matter
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Session 2 -Consumer Behavior I-1 - Consumer Decision Making...

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