Consumer Behaviour PDF

Consumer Behaviour Introduction to CB & it’s role in decision making 1  About the module Weekly 2h lecture Weekly 1h seminar (attendance is compulsory) Mid-term module evaluation Mock exam qu...

Consumer Behaviour Introduction to CB & it’s role in decision making 1  About the module Weekly 2h lecture Weekly 1h seminar (attendance is compulsory) Mid-term module evaluation Mock exam question & answer support in Week 11 Final support on exam 2  Learning Outcomes LO1 Understand the meaning of consumption and consumer behavior. LO2 Describe how consumers get treated differently in various types of exchange environments. LO3 Explain the role of consumer behavior in business and society. 4 Be familiar with basic approaches to studying consumer LO behavior. Describe why consumer behavior is so dynamic and how recent LO5 trends affect consumers. 3  Icebreaker 1.Pair up with another student. 2.Interview each other to determine how many times in the past week they took on the role of consumer and describe some of these occurrences in terms of the process and emotions attached to it. LO1 Understand Understand the the meaning meaning of of consumption and consumption and consumer consumer behavior. behavior. 5 3 LO1 Consumer Behavior Perspectives Human Thought and Action Field of Study 6 LO1 Consumer Behavior as Human Behavior Consumer behavior is the set of value seeking activities that take place as people go about addressing realized needs. 7 LO1 Consumer Behavior as Human Behavior The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs. 8 LO1 The Basic Consumption Process 9 LO1 o n t i p u m ns Co Process by which goods, services or ideas are used and transformed into value. 10 LO1 Macro or Micro? Economists study consumer behavior from a macro, or broad, perspective. Consumer behavior researchers study consumer behavior on a micro, or more individual, level. 11 LO1 Evolving new dominant logic Stephen, V. & R. Lusch (2004), Evolving to a New Dominant Logic for Marketing, Journal of Marketing, Vol. 68, No.1, pp. 1-17. 12  Consumer Behavior and Closely Related LO1 Disciplines 13 LO2 Describe Describe how how consumers consumers get get treated treated differently differently in in various various types types of of exchange exchange environments. environments. 14 LO2 How are Consumers Treated? Fast food chain Fine restaurant ©UPPERCUT IMAGES/GETTY IMAGES 15 LO2 Questions to Consider How competitive is the marketing environment? How dependent is the marketer on repeat business? 16 LO2 Some Terminology Consumer Market (customer) orientation orientation Relationship Touchpoints Marketing 17 LO3 Explain Explain the the role role of of consumer consumer behavior behavior in in business business andand society. society. 18 LO3 Why Study CB? Input to business/marketing strategy Force that shapes society Input to making responsible decisions as a consumer 19 LO3 Resource-Advantage Theory The resource-advantage theory explains why companies succeed or fail; the company goes about obtaining resources from consumers in return for the value the company’s resources create. 20 LO3 Make-Up or Hope? © ISTOCKPHOTO.COM/RAINFORESTAUSTRALIA A myopic business view defines the business in terms of products and not the value consumers receive. 21 LO3 Different Ways of Doing Business 22 LO3 CB and Society As this billboard shows, attitudes toward smoking have certainly changed over the last few decades. Smoking isn’t so cool. IMAGE COURTESY OF THE ADVERTISING ARCHIVES 23 LO3 CB and Personal Growth Studying CB helps consumers make better decisions by understanding: Consequences of Role of emotions poor budgeting Avenues for Social influences redress Environmental effects 24 LO4 Be Be familiar familiar with with basic basic approaches approaches to to studying studying consumer consumer behavior. behavior. 25 LO4 Different Approaches to Studying CB Interpretive Research Quantitative Research 26 LO4 Comparing Quantitative and Qualitative Research Source: Zikmund, W.G. and B.J. Babin (2007), Exploring Marketing Research, Thompson South-Western: Mason, Ohio. 27 LO5 Describe Describe why why consumer consumer behavior behavior is is so so dynamic dynamic and and how how recent recent trends trends affect affect consumers. consumers. 28 LO5 Trends Internationalization Technological Changes Changing Communications Changing Demographics ©MIKE KEMP/RUBBERBALL/JUPITERIMAGES Changing Economy 29  Learning Outcomes LO1 Understand the meaning of consumption and consumer behavior. LO2 Describe how consumers get treated differently in various types of exchange environments. LO3 Explain the role of consumer behavior in business and society. 4 Be familiar with basic approaches to studying consumer LO behavior. Describe why consumer behavior is so dynamic and how recent LO5 trends affect consumers. 30