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Summary TEW Consumer Behaviour - eerste zit

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Cours
Consumer behaviour (1302TEWSBM)

Établissement
Universiteit Antwerpen (UA)

Toegepaste Economische Wettenschappen: Consumer Behaviour samenvatting concepten, alles wat gekend moet zijn voor het examen. Prof. Barbara Briers

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Lecture 1: Introduction to Consumer Behavior and the Consumer Decision
Process

1. What is Consumer Behavior?

 Definition: The study of the processes involved when individuals or groups select,
purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs
and desires.
 Interdisciplinarity: Combines insights from psychology, sociology, social
psychology, anthropology, and economics.
 Example: Understanding why consumers prefer certain brands over others based on
cultural influences.

2. Consumer vs Shopper

 Consumer: The person who uses the product.
 Shopper: The person who buys the product.
 Example: A parent (shopper) buys baby food for their child (consumer).

3. Consumers' Buying Roles

 Initiator: The person who suggests the idea of buying the product.
 Influencer: The person whose views influence the buying decision.
 Decider: The person who makes the final buying decision.
 Buyer: The person who makes the actual purchase.
 User: The person who consumes the product.
 Gatekeeper: The person who controls access to information.
 Example: In a family, the child (initiator) asks for a toy, the sibling (influencer)
agrees, the parents (deciders) decide to buy, the mother (buyer) purchases it, and the
child (user) plays with it.

4. Pre-purchase, Purchase, Post-purchase Processes

 Pre-purchase: Recognizing a need, searching for information, evaluating alternatives.
 Purchase: Deciding on and buying the product.
 Post-purchase: Evaluating the product after use, which influences future decisions.
 Example: Researching laptops (pre-purchase), buying one (purchase), and using it to
see if it meets expectations (post-purchase).

5. Consumer’s Subjective Influence and Situational Influence

 Subjective Influence: Personal feelings and preferences.
 Situational Influence: External factors like store environment.
 Example: A consumer's positive mood (subjective) and a well-organized store layout
(situational) leading to more purchases.

6. Consumer’s Impact on Marketing Strategies

 Example: Companies tailor marketing strategies to consumer preferences, such as
personalized ads based on browsing history.

,7. Marketing Segmentations

 Psychographic Segmentation: Grouping consumers based on lifestyle, values, and
personality.
 Behavior Segmentation: Grouping based on consumer behavior such as purchasing
patterns and loyalty.
 Demographic and Geographic Segmentation: Based on age, gender, income, and
location.
 Example: Targeting fitness enthusiasts (psychographic) with gym memberships,
frequent buyers (behavior) with loyalty rewards, young adults (demographic) with
trendy fashion, and urban residents (geographic) with city-specific offers.

8. Selling Concept vs Marketing Concept

 Selling Concept: Focus on selling products regardless of consumer needs.
 Marketing Concept: Focus on understanding and meeting consumer needs.
 Example: Pushing sales through aggressive advertising (selling concept) vs
conducting market research to develop products that meet consumer needs (marketing
concept).

9. Customer Value

 Definition: The consumer’s assessment of the overall capacity of a product or service
to satisfy their needs and wants.
 Example: Valuing a smartphone for its high functionality and sleek design.

10. Value Disciplines

 Product Leadership: Offering leading-edge products.
 Operational Excellence: Efficient delivery of products.
 Customer Intimacy: Building close relationships with customers.
 Example: Amazon’s efficient delivery system (operational excellence).

11. Purpose: Keep it Simple

 Example: Apple’s focus on user-friendly product design.

12. Consumer Buying Decision Process/Dual Process Theory

 The Buying Decision Process: Need recognition, information search, evaluation of
alternatives, purchase decision, post-purchase behavior.
 Example: Buying a car involves recognizing the need for transportation, researching
models, comparing features, deciding on a purchase, and evaluating satisfaction post-
purchase.

13. First Moment of Truth, Second Moment of Truth, ZMOT

 First Moment of Truth (FMOT): When a consumer first encounters a product.
 Second Moment of Truth (SMOT): When a consumer uses the product.
 Zero Moment of Truth (ZMOT): Research phase before encountering the product.

,  Example: Reading reviews online (ZMOT), seeing the product in-store (FMOT), and
using the product at home (SMOT).

14. Need Recognition

 Internal vs External Stimuli: Internal - Hunger; External - Advertisement.
 Need vs Opportunity: Recognizing a need (hunger) vs seeing an opportunity (sale).
 Example: Feeling hungry (internal) and seeing an ad for a restaurant (external).

15. Primary vs Secondary Demand

 Primary Demand: Demand for a product category.
 Secondary Demand: Demand for a specific brand.
 Example: Demand for smartphones (primary) and demand for iPhones (secondary).

16. How Can We Find Out What People Want?

 Self-interest, Marketing Myopia, Pyramid of Needs.
 Example: Conducting surveys to understand consumer needs (self-interest) and
avoiding focusing solely on selling existing products (marketing myopia).

17. Information Search

 Internal vs External Sources: Internal - Memory; External - Friends, media.
 Example: Recalling past experiences (internal) vs reading product reviews (external).

18. Evaluation of Alternatives

 Traditional View of Brand Sets: Considering a set of brands before making a
decision.
 Example: Comparing different brands of laptops before buying one.

19. What is an Attitude?

 Definition: A learned tendency to evaluate things in a certain way.
 Example: A positive attitude towards eco-friendly products.

20. Multi-attribute Model (Fishbein)

 Definition: Evaluating products based on multiple attributes.
 Example: Rating a smartphone based on battery life, camera quality, and price.

21. Non-compensatory Models of Choice

 Conjunctive Heuristics: Setting minimum standards for attributes.
 Disjunctive Heuristics: Acceptable criteria based on key attributes.
 Lexicographic Heuristics: Ranking attributes by importance.
 Elimination-by-aspects Heuristics: Eliminating options that don’t meet criteria.
 Example: Choosing a car based on the most important attribute like safety
(lexicographic).

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