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CB Chapter 1

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78 views22 pages

CB Chapter 1

Uploaded by

Khoi Dang
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CHAPTER 1

CONSUMER
BEHAVIOR
AND
MARKETING
STRATEGY

Copyright © 2017 by The McGraw-Hill Companies, Inc. All rights reserved.


PART I: INTRODUCTION

1-2
Learning Objectives

L01 Define consumer behavior

Summarize the applications of consumer behavior


L02

Explain how consumer behavior can be used to


L03 develop marketing strategy

Explain the components that constitute a conceptual


L04 model of consumer behavior

L05 Discuss issues involving consumption meanings and


firm attempts to influence them
Consumer Behavior and Marketing
Strategy

Consumer behavior is the study of individuals, groups,


or organizations and the processes they use to select,
secure, use, and dispose of products, services,
experiences, or ideas to satisfy needs and the impacts
that these processes have on the consumer and society.

1-4
Applications in Consumer Behavior

1. Marketing Strategy

2. Regulatory Policy

3. Social Marketing

4. Informed Individuals

1-5
Applications in Consumer Behavior

1-6
Marketing Strategy and Consumer Behavior

1-7
Market Analysis Components

1. The Consumers

2. The Company

3. The Competitors

4. The Conditions

1-8
Market Segmentation

Market segmentation is a portion of a larger


market whose needs differ from the larger market.

1-9
Market Segmentation

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

1-10
Market Segmentation

1-11
Marketing Strategy
⮚ Marketing Strategy is the answer to the question:
How will we provide superior customer value to our
target market?
⮚ This requires the formulation of a consistent
marketing mix, which includes the
1. Product
2. Promotion (communications)
3. Price
4. Place (distribution), and
5. Service

1-12
Case Study: Why Starbucks Failed In Australia?

https://www.youtube.com/watch?v=_FGUkxn5kZQ

1-13
Consumer Decisions

The consumer decision process intervenes between


the marketing strategy, as implemented in the
marketing mix, and the outcomes.

The firm can succeed only if consumers see a need


that its product can solve, become aware of the
product and its capabilities, decide that it is the best
available solution, proceed to buy it, and become
satisfied with the result of the purchase.

1-14
Outcomes

1. Firm Outcomes

2. Individual Outcomes

3. Society Outcomes

1-15
Outcomes
Creating Satisfied Customers

1-16
The Nature of Consumer Behavior
Overall Conceptual Model of Consumer Behavior

1-17
The Nature of Consumer Behavior

External Influences
• Culture
• Demographics and social
stratification
• Ethnic, religious, and regional
subcultures
• Families and households
• Groups

1-18
The Nature of Consumer Behavior

Internal Influences
• Perception
• Learning
• Memory
• Motives
• Personality
• Emotions
• Attitudes

1-19
The Nature of Consumer Behavior

Self-Concept and Lifestyle


Self-concept is the totality of an individual’s thoughts and
feelings about oneself.
Lifestyle is how one lives, including the products one buys,
how one uses them, what one thinks about them, and how
one feels about them.

1-20
The Nature of Consumer Behavior

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.

1-21
The Meaning of Consumption

• Consumption has meaning beyond satisfaction


of minimum or basic consumer needs
• Symbolic needs
⮚ Status
⮚ Identity
⮚ Group acceptance

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