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Chapter 1: What is CB, and Why Should I Care?
Babin/Harris © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
Learning Outcomes Understand the meaning of consumption and consumer behavior. Describe how consumers get treated differently in different types of exchange environments. Explain the role of consumer behavior in business and society. Be familiar with basic approaches to studying consumer behavior. Describe why consumer behavior is so dynamic and how recent trends affect consumers. © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
CB Perspectives Human thought and actions Field of study LO1 © 2009 South-Western, a division of Cengage Learning.
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Consumer Behavior as Human Behavior
Consumer behavior is the set of value seeking activities that take place as people go about addressing realized needs. LO1 © 2009 South-Western, a division of Cengage Learning.
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The Basic Consumption Process
Need Want Exchange Costs and Benefits Reaction Value LO1 © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
Consumption The process by which goods, services, or ideas are used and transformed into value. LO1 © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
CB as a Field of Study Economics Psychology Social psychology Cognitive psychology Marketing Sociology Anthropology LO1 © 2009 South-Western, a division of Cengage Learning.
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Why are consumers treated differently?
How competitive is the marketing environment? How dependent is the marketer on repeat business? LO2 © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
Some Terminology Consumer (customer) orientation Marketing orientation Relationship marketing Touchpoints LO2 © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
Why Study CB? Input to business/marketing strategy Force that shapes society Input to making responsible decisions as a consumer LO3 © 2009 South-Western, a division of Cengage Learning.
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Business Orientations
Undifferentiated marketing Same basic product offered to all customers Differentiated marketing Serves multiple market segments each with a unique offering Niche marketing Specialize in serving one market segment with particularly unique demand characteristics LO3 © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
CB and Personal Growth Studying CB helps consumers make better decisions by understanding: Consequences associated with poor budget allocation. The role of emotions in consumer decision making. Avenues for seeking redress for unsatisfactory purchases. Social influences on decision making, including peer pressure. The effect of the environment on consumer behavior. LO3 © 2009 South-Western, a division of Cengage Learning.
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Approaches to Studying CB
Interpretive Research Seeks to explain the inner meanings and motivations associated with specific consumption experiences. Qualitative Researcher-dependent Quantitative Research Addresses questions about CB using numerical measurement and analysis tools. Not researcher-dependent LO4 © 2009 South-Western, a division of Cengage Learning.
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© 2009 South-Western, a division of Cengage Learning.
Trends Internationalization Technological changes Changing demographics LO5 © 2009 South-Western, a division of Cengage Learning.
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