1. Consumer Behavior Introduction Understanding consumer behavior: Mental models for marketers

2. Consumer Behavior Introduction Mental models for marketers knowledge structures that organize our thinking about how the world works mental models indicate which factors should be considered and how they are related to each other they are useful because they facilitate top- down processing (as opposed to bottom-up processing)

3. Consumer Behavior Introduction Issues in using mental models assembling an arsenal of mental models for a domain of interest retrieving relevant mental models in a given situation being aware of the limitations of mental models (they may overrepresent and underrepresent, or even malrepresent, things)

4. Consumer Behavior Introduction The marketing concept According to the marketing concept, the key to reaching organizational goals is to – – – – – –

5. Consumer Behavior Introduction Customer vs. competitor focus self- orientation competitor orientation customer orientation market orientation customer centered competitor centered no yes no yes

6. Consumer Behavior Introduction The introduction of New Coke One of the most famous marketing stories is the introduction of New Coke in 1985. Do some online research (Wikipedia is a good source) to answer the following questions: Why did the Coca-Cola Company decide to reformulate its flagship soft drink? How was the research leading to the reformulation conducted? Do you think Coca-Cola practiced the marketing concept when introducing New Coke, or when bringing back Coke Classic? Why or why not?

7. Consumer Behavior Introduction The market-oriented company Product Price Communication Distribution all consumers in the market target market segment(s) Marketing mix Marketing strategies of competitors Target marketing and positioning

8. Consumer Behavior Introduction Consumer behavior The study of consumer behavior is concerned with the phenomena involved in the acquisition, usage, and disposition of products by end users. It deals with all aspects of individual consumer functioning, including consumers’ interactions with their environment, with an emphasis on how consumers respond to marketing influence attempts.

9. Consumer Behavior Introduction A model of consumer buying behavior Consumer decision making process Types of purchase behavior Decision making and choice The consumption experience Post-purchase processes Marketing influences Psychological background Environmental influences Physical environ- mental influences Social environ- mental influences Memory Perception Affect Motivation & personality Product and price programs Marketing communication programs Distribution programs