PowerPoint Presentation
Copyright © 2020 by McGraw-Hill Education. All rights reserved.
CHAPTER
1
CONSUMER BEHAVIOR AND MARKETING STRATEGY
1
1-2
PART I: INTRODUCTION
2
Define consumer behavio
Summarize the applications of consumer behavio
Explain how consumer behavior can be used to develop marketing strategy
Explain the components that constitute a conceptual model of consumer behavio
Discuss issues involving consumption meanings and firm attempts to influence them
Learning Objectives
L03
L05
L01
L04
L02
Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
1-4
Consumer Behavior and Marketing Strategy
Michael Jung/Getty Images
Intl St Clai
Blend Images LLC
Shutterstock/yuttana Contributor Studio
4
Marketing Strategy
Regulatory Policy
Social Marketing
Informed Individuals
1-5
Applications in Consumer Behavio
Shutterstock/lovelyday12
5
USPCA Campaign Provides an Example of Social Marketing
1-6
Applications in Consumer Behavio
YouTube Spotlight
Shutterstock/Erik Lam
Ingram Publishing
6
1-7
Marketing Strategy and Consumer Behavio
7
The Consumers
The Company
The Competitors
The Conditions
1-8
Market Analysis Components
Lightpoet © 123RF.com
8
Market segmentation is a portion of a larger market whose needs differ from the larger market.
1-9
Market Segmentation
Purestock/SuperStock
9
Market Segmentation Involves Four Steps:
Identifying Product-Related Need Sets
Grouping Customers with Similar Need Sets
Describing Each Group
Selecting an Attractive Segment(s) to Serve
1-10
Market Segmentation
10
1-11
Market Segmentation
11
Marketing Strategy is the answer to the question: How will we provide superior customer value to our target market?
This requires the formulation of a consistent marketing mix, which includes the
Product
Communications
Price
Distribution, and
Service
1-12
Marketing Strategy
12
The consumer decision process intervenes between the marketing strategy, as implemented in the marketing mix, and the outcomes.
The firm can succeed only if consumers see a need that its product can solve, become aware of the product and its capabilities, decide that it is the best available solution, proceed to buy it, and become satisfied with the result of the purchase.
1-13
Consumer Decisions
13
Creating Satisfied Customers
1-14
Outcomes
14
Overall Conceptual Model of Consumer Behavio
1-15
The Nature of Consumer Behavio
15
External Influences
Culture
Demographics and social stratification
Ethnic, religious, and regional subcultures
Families and households
Groups
1-16
The Nature of Consumer Behavio
Lyn Topinka/U.S. Geological Survey
William Ryall 2010
Rodrigo A To
es/Glow Images
16
Internal Influences
Perception
Learning
Memory
Motives
Personality
Emotions
Attitudes
1-17
The Nature of Consumer Behavio
Bowie 15 123RF.com
17
Self-Concept and Lifestyle
Self-concept is the totality of an individual’s thoughts and feelings about oneself.
Lifestyle is how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them.
1-18
The Nature of Consumer Behavio
ernardbardo/123RF
18
Situations and Consumer Decisions
Consumer decisions result from perceived problems and opportunities.
Consumer problems arise in specific situations and the nature of the situation influences the resulting consumer behavior.
This Geico ad is designed to Trigger Problem Recognition
1-19
Applications in Consumer Behavio
© 2017 Geico
19
Consumption has meaning beyond satisfaction of minimum or basic consumer needs
Symbolic needs
Status
Identity
Group acceptance
The Meaning of Consumption