1. Consumer Behavior

2. Syllabus Highlights
Course Objective:
To develop a deeper understanding of and appreciation for consumers
To learn how to better serve your customers and develop strong relationships
Class materials:
Consumer Behavior: Building Marketing Strategy, 9th edition (Hawkins, Best, and Coney)

3. Keys to Success Come to class prepared Treat others professionally
Keep up on readings
Stay on top of deadlines
Treat others professionally
Show pride in your work
Be respectful

4. What is Consumer Behavior?
“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 impact that these processes have on the consumer and society”
-- Hawkins, Best, and Coney 2004
“The study of the cognitive, emotional, and physical activities associated with the perception, evaluation, choice, acquisition, use, and disposition of goods and services.”

5. Applications of Consumer Behavior
Marketing Strategy
Regulatory Policy
Social Marketing
Informed Individuals

6. Marketing Strategy and Consumer Behavior

8. Why Study Consumer Behavior?
The Marketing Concept:
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create more satisfying exchanges than the competition. :
Success in the marketplace requires: knowing, then attracting, satisfying, and retaining customers.

9. Why Study Consumer Behavior?
No brand/product can appeal to all people.
Firms must segment the market into groups with relatively homogeneous preferences and target one or more groups.
Firms must position their offerings in the hearts and minds of these individuals in a favorable way.
Firms must examine all of the points that shape how a consumer will respond to their offering.

10. Why Study Consumer Behavior?
Our guesses about people are inaccurate.
This is because human nature leads us to believe that other people think like us
false consensus
People tend to perceive differences even when they don’t exist
stereotyping

11. Why Study Consumer Behavior?
Therefore, we must strive to…
Identify customer needs and wants
Engage in research
Understand how customers will respond to different messages and environments
Learn about and apply theories
Anticipate where preferences are headed
Staying informed

12. Consumer Decision Making
Consumer-side
Marketer-side
Need
Recognition
Search
Alternative
Evaluation
Choice
Post-Purchase
Evaluation
Awareness
Interest
Desire
Action

13. Essential Tools: Consumer Decision Making Demographics / Trends
Information Processing
Social Influence

15. Essential Tools: Consumer Decision Making Demographics / Trends
Information Processing
Social Influence

16. Demographic Trends: Aging population
Cultural Diversity & Globalization
                                                                  

17. Lifestyle & Segment Trends:
Staying connected
Cellular phones
Instant messaging
Health & Fitness
Atkins
Water

18. Essential Tools: Consumer Decision Making Demographics / Trends
Information Processing
Social Influence

19. Consumer Information Processing
Stimuli Exposure
Attention
Comprehension
Acceptance
Retention Purchase

20. Essential Tools: Consumer Decision Making Demographics / Trends
Information Processing
Social Influence

21. Social Influence Creating “Buzz” through word of mouth
Cultural and generational influence
Family & Group Influence