College aantekeningen

College aantekeningen Principles Of Consumer Behaviour (MAN-BKV64-2021-3V) Consumer Behavior, Global Edition, ISBN: 9781292269245

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Instelling
Radboud Universiteit Nijmegen (RU)

Boek
Consumer Behavior, Global Edition

College aantekeningen van het vak Principles of Consumer Behaviour. De aantekeningen zijn in het Engels en van de colleges die in dit jaar van tevoren zijn opgenomen. Ook de artikelen staan in de aantekeningen. Door middel van deze aantekeningen heb ik zelf een 9,1 gehaald voor het tentamen

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Geupload op 24 maart 2022
Aantal pagina's 30
Geschreven in 2021/2022
Type College aantekeningen
Docent(en) Bloemer
Bevat Alle colleges

consumer behaviour
consumer behavior
wissenblit
principles of consumer behaviour
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principles of consumer behaviour ru
principles of consumer behavior
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Principles of consumer behaviour aantekeningen

Lecture 1 – What is consumer behaviour?
The marketing concept: an organization should satisfy consumer needs and wants
(also keep in mind the needs and wants of other stakeholders, so shareholders, the
community etc), create value (benefit should outweigh costs), and retain customers in
order to meet organizational goals (customer loyalty)
 The marketing perspective entails that marketing in the end should be beneficial for
the organization and their different stakeholders (especially consumers). They should
together create value, from a mutual beneficial perspective
 Need to understand customers (describe, explain and predict consumer
behavior)  to realize organizational goals
 Establish relationships with customers
“The purpose of a business is to create and keep a customer” (Peter Drucker)

What is consumer behaviour?
 buying products
 inspecting/evaluating products
 looking for information about products
 using / eating products
 disposing products after use
Consumer behaviour is the study of consumers’ actions during searching for,
purchasing, using, evaluating and disposing of products and services that they expect
will satisfy their needs
 this definition is in the middle from a marketing perspective. On the one hand you
have consumption and on the other that all behaviour is consumer behaviour

How to build long term relationships?
Building long term relationships, steps:
1. Customer value / quality
o = The benefits of a product over the price a consumer has to pay. So
exceeding benefits
o Starting point of building a relationship
2. Satisfaction
o = Difference between what you expect and what you get
3. Trust
o = Feeling that a company is on your side and that they are reliable
o If you think they are reliable, you will gain trust in the company and
probably buy other products as well
4. Commitment; emotional and transactional bonds
o Emotional bonds = you feel a connection and want to be part of a ‘family’
o Transactional bonds = for example discount because you have been a
customer for a long time

, 5. Loyalty
o = Consists of rebuying
6. Customer retention
o = Stronger form of loyalty, because you will stand up for the company
7. Engagement
o = You really feel part of the organization and want to share positive word-
of-mouth about them (online and offline)

Why are long-term relationships important (from both organizational and consumer
perspective)?
 Loyal customers buy more products
 Loyal customers are willing to test and try
 Are less price sensitive
 Pay less attention to competitors
 Are cheaper to serve
 Spread positive word of mouth
 Higher turnovers, lower cost, higher profit
 Create employee satisfaction and loyalty
Also interest for customer: easier if you buy when you trust organizations

Different approaches to consumer
behaviour
Approaches:
 Interpretive
o Based on theories and
methods from cultural
anthropology
o Objective is to describe consumption and its meanings
o Methods of study:
 Indepth interview
 Focus groups
o Theory building
 Traditional
o Based on theories and methods from cognitive, social and behavioral
psychology, and sociology
o Objective is to explain consumer decision
making and behavior
o Methods of study:
 Experiments
 Surveys
o Theory testing (deductive approach)
 Marketing science
o Based on theories and methods from economics and statistics

, o Objective is to predict consumer choice and behavior
o Methods of study:
 Math-modelling
 Simulation
 Scenarios
o Apply theory
o Scenario analysis 

 Economic
o Aware of all alternatives; selects the best: maximizing
o Rational arguments, best price, maximizing benefits
 Passive
o Submissive to self-serving interest and promotional efforts: minimizing
 Cognitive
o Actively seeking information: satisfying
o Rational way
 Emotional
o Impulses, moods, feelings and emotions determine behavior: satisfying

Consumer behavior is about the:
 Consumer
 Product
 Situation
Consumer behavior always depends on the interaction between these elements
It is never only one element, it is the interaction / combination
Outcome of consumer behavior is always dependent on: who is the customer? What is
the product and in what kind of situation is a choice made?

Articles Neghina et al., 2017), Zhang and Bloemer (2008)
In common:
 They are both about building long term relationships with consumers

Zhang and Bloemer (2008): the impact of value congruence on consumer-service
brand relationships
Value congruity
Value congruence, satisfaction, trust, commitment and loyalty  important for building
relationships

The impact of value congruence (= similarity, overlap, alignment):
 From interactions to long-term relationships (this is a transition)
 What is the impact of value congruence on loyalty (brand-consumer
relationships)?

,  The role of congruence as such (similarity attraction)  from consumer
perspective
 The impact of value congruence
o Organisational perspective  employee that shares values with
organization, will be more loyal
o Psychological perspective  focus on similarity attraction theory. The
more similar you are to other people, you will more interact with those
people
o Relationship management perspective  the more alike, the better the
relationship
When 2 people, values, personalities are more alike, the better you like it. So the more
you are alike, the more it attracts. So the more you like a brand, the more loyal you are
to that brand  the more a brand and consumer are alike, the bigger the attraction

The impact of value congruence on loyalty
 Satisfaction
 Trust
 Affective commitment
 Loyalty (Word Of Mouth (WOM), Willingness to Pay
More (WPM), RePurchase INtention (RPIN))
Direct / indirect effects:
Direct  effect of value congruence on these factors
Indirect  effect of value congruence via these factors

What is most important to study about this article:
 What is value congruence?
 How does value congruence impact loyalty?
 Direct versus indirect effects
 Operationalisation on value congruence
 Research methodology and results
 Theoretical and managerial implications
Lessons learned:
 Important role of value congruence in creating loyalty
 How to measure value congruence
 Loyalty is built upon value congruence, satisfaction, trust and affective
commitment
 Ask yourself: Is satisfaction a necessary condition for loyalty to occur?  from
this perspective it is NOT a necessary condition to occur

Neghina et al. (2017): consumer motives and willingness to co-create in
professional and generic services
Co-creation

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