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TRANSCRIPT
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Consumer BehaviorBuying, Having, and Being
NADEEM IQBAL RAZA
Chapter 1Consumers Rule
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The Wheel of Consumer Behavior
Figure 1.3
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Marketing: profitable exchange relationship
Producer /Seller
Communication
Product/Service
Money
Feedback
Consumer
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Customer Vs Producer
Need Want Preference Demand
Product Services Value
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ExchangesExchangesLearning EnvironmentLearning EnvironmentLearning EnvironmentLearning Environment
TuitionTuitionTuitionTuition
Promised ActionPromised ActionPromised ActionPromised Action
VotesVotesVotesVotes
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P r o d u c t s a n d
S e r v i c e s
Value,
satisfaction,
andquality
N e e d s , w
a n t s ,
a n d d e m
a n d s
Exchange,transactions,
and relationships
M a r k e t s
CoreMarketingConcepts
CoreMarketingConcepts
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Marketing
The process of developing andmaintaining profitablecustomer relationship.
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Elements of Marketing MixElements of Marketing Mix
ProductProduct PricePrice
PromotionPromotionPlacePlace
TargetTargetMarketMarket
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Separations
Spatial Separation
Spatial Separation
Temporal Separation
Temporal Separation
Perceptual
Separation
Perceptual
Separation
Ownership SeparationOwnership
Separation
Values Separation
Values Separation
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UniversalMarketingFunctions
Information Buying
Risk Taking Selling
Financing Transporting
Standardizing
and GradingStoring
MarketingFunctions
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Four Types of UtilityFour Types of Utility
UtilityUtilityUtilityUtility
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Separations Functions of Marketing Utility
Spatial Transporting PlaceStoring
Temporal Storing TimeTransportingFinancingRisk-Taking
Perceptual Selling Form, plusProviding Information facilitates
all others
Separations/Functions/Utility
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Separations Functions of Marketing Utility
Ownership Buying Ownership
SellingRisk-TakingFinancing
Values Buying Ownership
Selling FormStandardizing and GradingProviding Information
Separations/Functions/Utility
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People in Market Place
Individual
Group
Culture Subculture
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Consumer Evaluation Appearance Taste
Texture Design Style Color Smell Symbolism
People in Market Place
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What is Consumer Behavior? Consumer Behavior:
The study of the processes involved when individuals or groups select, purchase, use, or dispose off products,services ideas, or experiences to satisfy needs and desires
Forms of Consumer
Consumptions Items Needs and wants to be satisfied
Role Theory: Identifies consumers as actors on the marketplace stage Role: the rights, obligation and expected behavioural
pattern associated with a particular social status
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Consumer Behavior is a Process:
Buyer Behaviour (Transactional Approach) VsConsumer Behaviour (Value Exchange)
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Consumer Behavior InvolvesMany Different Actors
Consumer: A person who identifies a need or desire, makes a
purchase, and then disposes of the product Many people may be involved in this sequence of events. User Payer Buyer
Influencer Consumers may take the form of organizations or groups.
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Consumers Impact onMarketing Strategy
Market Segmentation: Identifies groups of consumers who are similar to
one another in one or more ways and then devises
marketing strategies that appeal to one or moregroups Demographics:
Statistics that measure observable aspects of a population
Ex.: Age, Gender, Family Structure, Social Classand Income, Race and Ethnicity, Lifestyle, andGeography
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Consumers Impact onMarketing Strategy (cont.)
Relationship Marketing: Building Bondswith Consumers Relationship marketing:
The strategic perspective that stresses the long-term,human side of buyer-seller interactions
Database marketing : Tracking consumers buying habits very closely, and
then crafting products and messages tailored preciselyto peoples wants and needs based on this information
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Marketings Impact on Consumers
Marketing and Culture: Popular Culture:
Music, movies, sports, books, celebrities, and otherforms of entertainment consumed by the massmarket.
Marketers play a significant role in our view of theworld and how we live in it.
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Popular Culture
Companies often create product icons to develop anidentity for their products. Many made-up creatures andpersonalities, such as Mr. Clean, the Michelin tire man andthe Pillsbury Doughboy, are widely recognized figures in
popular culture .
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Marketings Impact on Consumers: TheMeaning of Consumption
The Meaning of Consumption: People often buy products not for what they do,
but for what they mean. Types of relationships a person may have with a
product: Self-concept attachment
Nostalgic attachment Interdependence Love
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Marketings Impact on Consumers: TheMeaning of Consumption (cont.)
Consumption includes intangibleexperiences, ideas and services inaddition to tangible objects.
Four types of Consumption Activities: Consuming as experience Consuming as integration
Consuming as classification Consuming as play
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Marketings Impact on Consumers: TheGlobal Consumer
By 2006, the majority of people on earth willlive in urban centers.
Sophisticated marketing strategies contribute
to a global consumer culture. Even smaller companies look to expandoverseas.
Globalization has resulted in variedperceptions of the United States (both positiveand negative).
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Blurred BoundariesMarketing and Reality
Marketers and consumers coexist in acomplicated two-way relationship.
Its increasingly difficult for consumers todiscern the boundary between thefabricated world and reality.
Marketing influences both popular cultureand consumer perceptions of reality.
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Marketing Ethics and Public Policy
Business Ethics: Rules of conduct that guide actions in the
marketplace The standards against which most people in the
culture judge what is right and what is wrong, goodor bad
Notions of right and wrong differ amongpeople, organizations, and cultures.
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Needs and Wants:Do Marketers Manipulate Consumers?
Consumerspace Do marketers create artificial needs?
Need: A basic biological motive
Want: One way that society has taught us that need can besatisfied Are advertising and marketing necessary?
Economics of information perspective: Advertising is animportant source of consumer information.
Do marketers promise miracles? Advertisers simply dont know enough to manipulate
people.
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The Dark Side of Consumer Behavior
Consumer Terrorism: An example: Susceptibility of the nations food supply to
bioterrorism
Addictive Consumption: Consumer addiction:
A physiological and/or psychological dependency on productsor services
Compulsive Consumption: Repetitive shopping as an antidote to tension, anxiety,
depression, or boredom
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The Dark Side of Consumer Behavior (cont.)
Consumed Consumers: People who are used or exploited, willingly or not, for
commercial gain in the marketplace
Illegal Activities: Consumer Theft: Shrinkage: The industry term for inventory and cash
losses from shoplifting and employee theft
Anticonsumption: Events in which products and services are
deliberately defaced or mutilated
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Consumer BehaviorAs a Field of Study
Consumer behavior only recently aformal field of study
Interdisciplinary influences on thestudy of consumer behavior Consumer behavior studied by researchers from
diverse backgrounds
Consumer phenomena can be studied in differentways and on different levels
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LetsStopHere!