Marketing Knowledge Clips and Lectures:
Introduction Marketing for pre-master:
Learning objectives:
- Illustrate the position of Consumer Behaviour in Marketing Management
- Understanding how Consumers and Marketing interact
- Importance of really understanding Consumer Behaviour
Marketing is the social and managerial process by which individuals and groups obtain what
they need and want through creating and exchanging products and value with others.
Marketing inside-out and outside-in:
Inside-out= business -> marketing management -> consumer
Outside-in= factors influencing consumer (motivation, social, influences, capacity, and
opportunity. -> customer back to the manager/organisation.
Consumer behaviour= what the consumer feels, wants, and does influence by all kinds of
factors.
,Consumer behaviour reflects the totality of consumers’ decisions with respect to the
acquisition, consumption, and disposition of goods, services, time, and ideas by (human)
decision making [over time].
Why do we need consumer behaviour? (Why, what, how)
- Misconception 1: Consumers are Sales Figures
- Misconception 2: We can trust our intuition
- Misconception 3: We know what consumers want
Some key insights:
- Consumers are living people -> not data points, simply numbers or dead sales figures
- Individuals react on the basis of perception, not on the basis of objective reality
- Objective product features are not the same as consumer benefits
We need to really understand consumer to better satisfy their needs.
Our intuitions about what consumers perceive, think, feel and will do are often wrong!
How companies often think about consumers:
Company -> Consumer
Stimulus (S) -> Response (R)
More product features -> Increased product liking
More products in brand portfolio -> Increased sales
Make product less expensive -> Increased volumes
Etc…
How companies should think about consumers:
SOR (Stimulus, Organism, Response)
Stimulus= what the company does, 4 P’s, marketing mix, Product, Place, Price, Promotions,
marketing stimuli.
➔ Input
Organism= receive stimulus from company by the people/consumer, they have feelings and
intentions about the stimulus. Understanding consumer behaviour, thinking, feeling, doing,
what do they feel about the stimulus provide by the company. = Psychological Core, Process
of Making decisions, Social influences
➔ Output
Response= what they do, they choose product or don’t, success measures, sales, consumer
loyalty, reviews, success measures.
Marketing for PM:
Consumer Behaviour
,Study book to focus on the 3 primary colours and follow lectures to mix colours for new
colours.
Topic 1: introduction
Psychological Core topics 2-6:
- Motivation, ability, and opportunity
- Internal information: learning and memory
- External information: attention and perception
- Understanding: comprehension and categorization
- Attitudes: cognition and affect
Process of Making Decisions topics 7 – 8:
- Problem Recognition and Information Search
- Alternatives Evaluation and Decision Making
- Choice Reflection and Post-Decision Evaluations
Social influences topics topic 9:
- Conformity
- Compliance
- Obedience and authority
, Topic 10 exam preparation
Course schedule:
Exams will be multiple choice questions with 2 times 30 minutes based on chapter 1-6 and
chapter 7-14, final is 2 hours open questions based on lectures and insights/depth.
- Resist exam of last year
- Testbank cengage
- Questions in the book
Consumer insights: Knowledge versus Understanding:
An understanding is a mental construct, an abstraction made by the human mind to make
sese of many different pieces of knowledge.
If students understand, then they can provide evidence of that understanding by showing
that they know and can do certain specific
