Consumer Behavior MKT 750
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![Page 1: Consumer Behavior MKT 750](https://reader036.fdocuments.us/reader036/viewer/2022062314/56812d32550346895d922d17/html5/thumbnails/1.jpg)
Consumer Behavior MKT 750
Professor Pat West
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Agenda
• Introductions• Class website:
http://fisher.osu.edu/~west_284/mkt750s05 or
class.osu.edu
• Syllabus highlights
• Course overview
• Assignment
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Syllabus Highlights
• Course Objective:– To develop a deeper understanding of and
appreciation for consumers – To learn how to better serve your customers and
develop strong relationships
• Class materials:– Consumer Behavior: Building Marketing Strategy, 9th
edition (Hawkins, Best, and Coney)
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Syllabus Highlights
• Requirements:– Individual Components Points
• Participation 100• Two exams @ 100 points each 200
– Team Components• Phase 1: Immersion Research 100• Phase 2: Idea Generation 100• Phase 3: Implementation Report 100
600
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Keys to Success
• Come to class prepared – Keep up on readings– Stay on top of deadlines
• Treat others professionally– Show pride in your work– Be respectful
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Considered appropriate:
Be considerate of others Get involved and participate Strive to be a good teammate Manage your time wisely
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Please refrain from:
1. Coming in late
2. Leaving class early
3. Sidebar conversations
4. Cellular phone interruptions
5. Eating food in the classroom
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Honor Code
• What is academic misconduct?– Any activity that compromises the academic
integrity of the institution or subverts the educational process.
• How will it be dealt with?– You will be dismissed from the class. – The University Committee on Academic
Misconduct will be notified.
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Course Overview
• What is consumer behavior?
• Why study it?
• How does this relate to marketing?
• Some “essential tools”
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What is Consumer Behavior?
“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 impact that these processes have on the consumer and society”
-- Hawkins, Best, and Coney 2004
“The study of the cognitive, emotional, and physical activities associated with the perception, evaluation, choice, acquisition, use, and disposition of goods and services.”
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Why Study Consumer Behavior?
• The Marketing Concept:– Marketing is the process of planning and executing the
conception, pricing, promotion, and distribution of ideas, goods, and services to create more satisfying exchanges than the competition.
• Corollary:– Success in the marketplace requires: knowing, then
attracting, satisfying, and retaining customers.
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Why Study Consumer Behavior?
• No brand/product can appeal to all people.Firms must segment the market into groups with relatively homogeneous preferences and target one or more groups.Firms must position their offerings in the hearts and minds of these individuals in a favorable way.Firms must examine all of the touch points that shape how a consumer will respond to their offering.
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Why Study Consumer Behavior?
• Our guesses about people are inaccurate.– This is because human nature leads us to believe
that other people think like us• false consensus
– People tend to perceive differences even when they don’t exist
• stereotyping
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Why Study Consumer Behavior?
• Therefore, we must strive to…Identify customer needs and wants
Engage in research
Understand how customers will respond to different messages and environments
Learn about and apply theories
Anticipate where preferences are headed
Staying informed
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Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
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• Consumer-side
• Marketer-side
Consumer Decision Making
ChoiceAlternativeEvaluation
SearchNeed
RecognitionPost-Purchase
Evaluation
Action Desire Interest Awareness
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Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
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Demographic Trends:
• Aging population
• Cultural Diversity & Globalization
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Lifestyle & Segment Trends:
• Staying connected– Cellular phones– Instant messaging
• Health & Fitness– Atkins– Water
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Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
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Consumer Information Processing
Stimuli Exposure
Attention
Comprehension
Acceptance
Retention Purchase
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Essential Tools:
• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence
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Social Influence
• Creating “Buzz” through word of mouth
• Cultural and generational influence
• Family & Group Influence
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Assignment
• Carefully read the syllabus– There will be a quiz on it next time
• Study Chapter 1 of the textbook– Begin applying the strategic framework
discussed to the team project we will be working on
– What do we know about the 5 Cs, Segmentation, Targeting, and Positioning?