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Lecture summaries - Consumer marketing (E_MKT_CM)
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Comprehensive summary of all lectures. Each lecture links to articles discussed that week, find the summaries for those on my profile.
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Consumer Marketing SummaryWhat to learn
Articles
The lectures focus on how to read and understand the articles; all details can be found in the articles. You
should understand:
Aim and goal of a specific article
Conceptual model/framework
o Concepts used
o Theoretical reasoning for the expected direction of relationships between concepts
Results of the study
o Main findings (related to hypotheses)
o No specific numbers, coefficients or p-values, etc.
o No reproduction of full experimental setup
o Be able to interpret and explain the figures and output tables presented in the articles
o Understand why each study has been conducted, and how it helps us to TEST the effects
and underlying mechanisms
Managerial implications
Limitations of the study
Sessions
Additional articles:
o Concepts used
o Main findings and explanations
o Managerial implications
Broader perspective of the research area:
o Main issues in the area (e.g. measurement of loyalty)
o Structure in which articles are embedded (e.g. drivers of sustainable behavior)
,Lecture 1 – Introduction Articles discussed:
Jobs-to-be-Done is a simple framework that puts emphasis on • Duhigg (2012)
the “why” behind what a customer is doing. It gives a unit of
focus —the job the customer is looking to do.
Jobs-to-Be-Done (JTBD) framework:
o Definition of a "job" as what an individual seeks to accomplish in a specific circumstance.
o People hire products to get jobs done.
o Importance of circumstances over customer characteristics or product attributes.
Customers judge solutions by how well they get the job done, not product features.
o Jobs have social and emotional dimensions.
o Solutions are temporary; products are judged by their ability to complete the job.
JTBD advantages:
o Shifts focus to the customer.
o Provides a solution-free perspective with predictive power. Focus on the problem first,
this allows for a broader exploration of potential ways to solve the customer’s problem.
o Identifies true competitors in the market (not the ones offering similar products, but the
ones solving the same solution).
Key questions for JTBD:
o What progress is the person trying to achieve?
o What are the circumstances of the struggle? (Who, when, where, while doing what?)
o What are the functional, social, and emotional dimensions of the desired progress?
o Are consumers making do with imperfect solutions?
How would they define what ‘quality’ means for a better solution, what trade-
offs are they willing to make?
What is crucial for purchase decisions is often not the needs that consumers are aware of and mention
when asked, but rather latent needs –unconscious or hard-to-articulate wishes, desires, dreams, fears
and etc.
Latent needs: Any need not currently met by existing products or services. Generally, they are
not specifically known to be needed by consumers (e.g. decreasing straw diameter).
o Often unconscious or hard-to-articulate desires
o Critical for understanding consumer behavior
o Focus on functional, emotional, and social needs.
, Lecture 2 – Understanding Articles discussed:
• Bitterly et al. (2014)
consumers
Decision-making unit (DMU):
o The individuals involved in making a purchase decision
o Can involve one or more people (e.g., a partner in toilet paper purchasing)
Decision-making process (DMP):
o Steps taken when deciding on a purchase
o Can be quick for mundane products like toilet paper or involve research for expensive
items like niche perfumes
AIDA funnel:
o Awareness → Interest → Desire → Action → (Repurchase)
o Variations in funnel shape (e.g., wide at the top, narrow at
the bottom, or vice versa)
o Not all consumers move through every step of the funnel
o Can skip steps like Know-Feel-Do, or prioritize certain stages
Segmentation:
o The market is heterogenous, not everyone is the same. Ask yourself who is most likely to
follow through with all steps of the AIDA funnel.
o Segmentation bases:
Geographic
Demographic
Psychographic
Behavioral
Persona (combination of demographic, psychographic & behavioral)
Predictive (using algorithms)
o Benefits of segmentation:
To the firm:
Identification of valuable customers (high CLV)
More targeted promotions & marketing communications (increased
effectiveness).
To the customers:
Customized products & services.
Personalized experience.
o Cross model: Involvement (when purchasing, or potentially when using) (high/low) vs.
type of need (utilitarian vs. ego-expressive).
o Targeting: Evaluating which segment is most attractive, and then targeting that segment
(be aware of ethics).
Customer journey:
o The entire experience of a consumer interacting with a product/service.
o From initial awareness to post-purchase experiences like loyalty and repurchase.
Cross model (involvement vs. need):
o Mapping consumer involvement and the type of need (utilitarian or ego-expressive)
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