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Instructor:Dr. West Office Hours & Location:W 11:00 – 12:00, Fisher 544 Phone & Fax:292-0568 (O) 292-0879 (F) MKT 750 Consumer.

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Presentation on theme: "Instructor:Dr. West Office Hours & Location:W 11:00 – 12:00, Fisher 544 Phone & Fax:292-0568 (O) 292-0879 (F) MKT 750 Consumer."— Presentation transcript:

1 Instructor:Dr. West Office Hours & Location:W 11:00 – 12:00, Fisher 544 Phone & Fax: (O) (F) MKT 750 Consumer Behavior

2 Agenda Introductions Class website: Syllabus highlights Course overview Assignment

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

4 Syllabus Highlights Requirements: Individual Components Points Participation 50 Memo & Case 50 points each100 Two 100 points each200 Team Components Demographic research project 75 Advertising project

5 Keys to Success Come to class prepared Read the material in advance Keep up on assignments Treat others professionally Show pride in your work Be respectful

6 Please refrain from : 1.Coming in late 2.Leaving class early 3.Sidebar conversations 4.Cellular phone interruptions 5.Eating food in the classroom

7 Considered appropriate: 1.Be considerate of others 2.Get involved and participate 3.Strive to be a good teammate 4.Manage your time wisely

8 Honor Code What is academic misconduct? Any activity that compromises the academic integrity of the institution or subverts the educational process. How will it be dealt with? You will be dismissed from the class. The University Committee on Academic Misconduct will be notified.

9 Course Overview What is consumer behavior? Why study it? How does this relate to marketing? Some “essential tools”

10 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.”

11 OBTAINING How you decide you want to buy Products you consider buying Where you buy How you pay for product How you transport product home CONSUMING How you use product How you store the product in your home Who uses the product How much you consume How product compares with expectations DISPOSING How you get rid of remaining product How much you throw away after use If you resell items yourself or through a consignment store How you recycle products PERSONAL INFLUENCES Personality Life-stage Values Income Resources Attitudes Opinions Motivations Feelings Past Experiences Knowledge SITUATIONAL INFLUENCES Brand Product Features Advertising Display Promotions Price Quality Store Ambiance Service Convenience Product Loyalty Programs Packaging Goals Assortment Involvement Availability Consumer Behavior SOCIAL INFLUENCES Justification Word of Mouth Culture Ethnicity Family Peer Groups

12 What is Consumer Behavior? An interdisciplinary field Social Psychology Cognitive Psychology Anthropology Sociology Economics Physiology Biology Computer Science

13 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. Corollary: Success in the marketplace requires attracting, satisfying, and retaining customers.

14 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.

15 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

16 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

17 Connections to Marketing Segmentation & Targeting Customer Acquisition & Retention Building Loyalty Positioning & Repositioning New Products and Shaping Consumer Preferences Customer-based Brand Equity

18 Connections to Marketing Communicating with your customers Influence & Persuasion Getting attention Generating “buzz”

19 Essential Tools: Consumer Decision Making Demographics / Trends Family Life Cycle Information Processing

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

21 Essential Tools: Consumer Decision Making Demographics / Trends Family Life Cycle Information Processing

22 Demographic Trends: Aging population Cultural Diversity & Globalization

23 Lifestyle Trends: Staying connected Cellular phones Instant messaging Health & Fitness Atkins Water

24 Essential Tools: Consumer Decision Making Demographics / Trends Family Life Cycle Information Processing

25 Family Life Cycle Single Newly Full Empty Married Nest Nest

26 Essential Tools: Consumer Decision Making Demographics / Trends Family Life Cycle Information Processing

27 Consumer Information Processing Stimuli Exposure Attention Comprehension Acceptance Retention Purchase

28 Assignment Carefully read the syllabus! Chapters 1 of the textbook Read the K-Mart and Sears story and develop a “marketing strategy” for the new company


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