Introduction to Consumer Behaviour PDF

In tr o d uctio n Week Week 1 Files Notes D efin it io n o f c o n su m er b eh avio u r: ?????? “Consumer behavior is the study of  individuals , gr oups , or  organizations  and the  pr ocesses  they use to  select, secur e, use, and dispose  of products, services, experiences, or ideas...

In tr o d uctio n Week Week 1 Files Notes D efin it io n o f c o n su m er b eh avio u r: ?????? “Consumer behavior is the study of  individuals , gr oups , or  organizations  and the  pr ocesses  they use to  select, secur e, use, and dispose  of products, services, experiences, or ideas to  satisfy needs  and the  impacts  that these processes have on the  consumer and society .” (Mothersbaugh, Hawkins & Kleiser , 2020) ?????? “Consumer behavior is the study of consumers’ choices during  searching, evaluating, pur chasing, and using pr oducts  and services that they believe would  satisfy their needs ” (Schiffman & Wisenblit, 2018: 32) Cradle to cradle vs cradle to grave design: designing for reuse vs designing for waste Mark etin g S tr a te g y a n d C on su m er B eh avio u rIntroduction 1 *Hint* consumer decision process M ark et s e g m en ta tio n ?????? “the process of  dividing a br oad market , normally consisting of existing and potential customers, into  subsets of customers  (known as segments) that have or perceived to have  common needs, inter ests and priorities ” 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 M ark et s tr a te g y The purpose of marketing strategy is to deliver Customer V alue Customer Value  represents the dif ference between all of the benefits of consumption and the associated costsIntroduction 2 Perceived V alue = Per ceived Benefits – Per ceived Costs Value can be added through elements of the marketing mix i.e. Product Price Place (Distribution) Promotion Service In flu en ces o n C on su m er B eh avio u r A conceptual model of consumer behaviour: Who are those individuals who model behaviour? External influences: Culture Demographics and social stratification Ethnic, religious, and regional subcultures Families and householdsIntroduction 3 Groups Internal influences: Perception Learning Memory Motives Personality Emotions Attitudes Goals perceived as unattainable are goals that are often not pursued Self-concept and lifestyle: Use brands to bolster self image and our outward perception Consumer-brand Relationships: Role Theory assumes that much of consumer behaviour resembles roles within a play we seek out lines and props to suit our different roles roles may vary from time to time and as such our props (consumption) also changes Situations and Consumer Decisions: 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. Needs vs Wants:Introduction 4 If you don’t fulfil a need you will be worse of f, but if you don’t fulfil a want you will be the same - if you do fulfil a want it is extra. Recognising and understanding needs & wants We may not know what we need or want. Sometimes consumption desires have to be articulated by others or may seem imperceptible or irrational.Introduction 5