Bina Nusantara HOW CB IMPROVE MARKETING STRATGY The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products); The the psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); The behavior of consumers while shopping or making other marketing decisions;
Bina Nusantara HOW CB IMPROVE MARKETING STRATGY Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;
Bina Nusantara HOW CB IMPROVE MARKETING STRATGY How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.
Bina Nusantara FOUR MAIN APPLICATIONS OF CB The most obvious is for marketing strategy—i.e., for making better marketing campaigns. A second application is public policy Social marketing involves getting ideas across to consumers rather than selling something. As a final benefit, studying consumer behavior should make us better consumers.
Bina Nusantara MARKET SEGMENTATION (covered in more detail later) Product-related need sets Segments: customers with similar needs and responses Segment description Segment selection
Bina Nusantara ELEMENTS IN MARKETING STRATEGY Product Communicati ons Price Distribution Service
Bina Nusantara WHY WE BUY: SOME ISSUES Questions academics relatively well: Whether, how, why? Questions academics answer less well: – How much? – Which effect is stronger? – What if…?
Bina Nusantara WHY WE BUY ISSUES “Conversion” and “interception” rates The “Transition Zone”
Bina Nusantara WHY WE BUY ISSUES Thinking like a consumer who is in the shopping setting! A note on exam questions from the text: You need to have read the book to be able to answer! (The answers are not obvious.)