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Lecture 1 consumer behavior and marketing action
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lecture notes week 1
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Lecture 1Study for exam:
• Solomon book
Predictions of un conscious decisions
• Articles
• Slides sensory specificsatiety
• Verbal info product choice criteria
Exam:
• Knowledge, logical thinking, academics
• 100%
• Multiple choice
Introduction into consumer behavior
Introduction
• What consumers buy and why
• Info hidden in consumers mind
• Marketing professionals investigate how consumers respond to various marketing actions such as advertising
What is consumer behavior?
• Study of how and why individuals or groups acquire, consume and dispose products
Consumption process dpd
• Identify a need or desire
◦ Need to be aware that they need something
• Make a purchase
◦ Our mobile phones die on purpose
◦ Lightbulb that doesn't die down, never on market --> never make product that doesn't break or need to be
refilled
• Dispose the product
People involved in the process o pio
• Purchaser (user)
◦ Not user not always the one that makes the purchase
◦ Spongebob stuff etc.
◦ Products low on shelfs for kids, advertisement targets kids
◦ Reason to buy for parents (health claims) will be on the box
• Influencer
◦ Influence what we want to buy
• Groups and organizations
◦ Family and designers
‣ Target group can distribute products themselves
‣ Downgraded versions and affordable
‣ designers making themselves known
Why is consumer behavior important
• Consumers have a huge impact on marketing strategies
◦ Shelf placement and store
◦ How a product is presented
‣ Place vegetables in front so consumers feel less bad about buying unhealthy food
• 'Firms exist to satisfy consumers' needs'
• Consumers have impact on consumer behavior, manufacturers want to know their motivations
Some relevant questions for business
• Who are our consumers?
• How do we reach them?
, • What should we sell them?
• What will motive them to buy?
• What makes them satisfied?
Questions require a sophisticated understanding of consumer behavior!
The meaning of consumption
• People often buy brands, not for what they do, but for what they mean!
• Form bonds with others
• Convey image or personality
How does a marketing professional convince us to buy the product?
Consumer decision making
Content
• What is the decision process?
• What factors influence this process?
• Overall insight concerning decision making
• Are decisions conscious?
Consumer decision process -------------------------------->
• Problem recognition
• Information search
• Evaluation of alternativesJim pans
• Product choice
• Outcomes
Problem recognition
• Occurs when a consumer sees a significant difference
between his or her current state and a desired/ideal state
◦ Does the ideal state go up or the current situation
down?
◦ iPhone -> new release or broken phone?
• Two types want a new car
◦ Opportunity recognition: ideal state moves upward
‣ When you want a new car run out of gas
◦ Need recognition: actual state moves downward
‣ When you run out of gas
Information search
• Reduce risks of decision making
◦ Financial
◦ Psychological
◦ Social
◦ Time
◦ Etc.
• Consumers need information to solve problems
◦ Pre-purchase vs. ongoing search specificgoal
searchbeforebuying
‣ Pre-purchase search: consumers recognize a need and search the marketplace for specific information
‣ Ongoing search: browsing for fun and staying up to date on what's happening in the market
◦ Internal vs. external search
‣ Internal search: scanning our own memory for information about product alternatives
• Past experience / knowledge
‣ External search: obtaining product information from the environment
• Advertisements
• Friends
• Consumer reports
◦ Deliberate vs. accidental search
I
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