what is consumer behavior? chapter 1. overview of consumer behavior every day interactions every day...
TRANSCRIPT
What is What is Consumer Behavior?Consumer Behavior?
Chapter 1Chapter 1
Overview of Consumer BehaviorOverview of Consumer Behavior
Every day interactionsEvery day interactions
Important to:Important to: MarketersMarketers PolicymakersPolicymakers Consumers Consumers
Consumer BehaviorConsumer Behavior
Two definitions:Two definitions:1. As human behavior:1. As human behavior:
““Set of value-seeking activities that take Set of value-seeking activities that take place as people go about addressing place as people go about addressing realized needs”realized needs”
Basic Consumption ProcessBasic Consumption Process
NEED
WANT
EXCHANGE
COSTS & BENEFITS
REACTION
VALUE
Consumer BehaviorConsumer Behavior
Two definitions:Two definitions:2. Study of consumers as they go about the 2. Study of consumers as they go about the
consumption process; study how they seek value to consumption process; study how they seek value to address needsaddress needs
Consumer BehaviorConsumer Behavior
Consumer Behavior
Economics
Psychology
Marketing
Anthropology
Sociology
How Are Consumers Treated?How Are Consumers Treated?
Two determinantsTwo determinants How competitive is the How competitive is the
environment?environment? License Bureau v. License Bureau v.
Upscale restaurantUpscale restaurant Consumer orientation v. Consumer orientation v.
market orientationmarket orientation
How dependent on How dependent on repeat business?repeat business?
Relationship marketingRelationship marketing TouchpointTouchpoint
Role of Consumer BehaviorRole of Consumer Behavior
CB & MarketingCB & Marketing Resource advantage theoryResource advantage theory
What do consumers give What do consumers give up?up?
What are they looking for?What are they looking for?
Products v. AttributesProducts v. Attributes Milkshake studyMilkshake study
Understanding value helps Understanding value helps determine who your determine who your competitors arecompetitors are
Examples:Examples:
Role of Consumer BehaviorRole of Consumer Behavior
Business OrientationBusiness Orientation UndifferentiatedUndifferentiated
ProductionProduction Wal-martWal-mart
DifferentiatedDifferentiated ToyotaToyota
NicheNiche One specific groupOne specific group
Role of Consumer BehaviorRole of Consumer Behavior
CB & SocietyCB & Society Purchasing behaviors Purchasing behaviors
shape societyshape society What’s “cool” and “not What’s “cool” and “not
cool”cool”
CB & Personal GrowthCB & Personal Growth DebtDebt Credit cardsCredit cards
Approaches to CBApproaches to CB
How can we study it?How can we study it? Interpretive researchInterpretive research
QualitativeQualitative Pros & consPros & cons PhenomenologyPhenomenology EthnographyEthnography
QuantitativeQuantitative Pros & cons Pros & cons
CB is DynamicCB is Dynamic
CB changes over timeCB changes over time InternationalizationInternationalization Technological changesTechnological changes
TV adsTV ads InternetInternet
Changing demographicsChanging demographics Changes in the familyChanges in the family
How does this affect their How does this affect their CB?CB?