Consumer BehaviorLecture 1

IntroductionWe shall learnWhere does Consumer Behaviour fit in the Marketing SystemIts impact on Marketing SystemIts impact on Customer SatisfactionIts impact on Customer ValueIts impact on Competitive AdvantageHow do they help in achieving companys goals

IntroductionBasic concept in Consumer Behaviour is the recognition of customers needs

Consumer BehaviourTwo Broad CategoriesA decision making processA totality of all activities and behaviours that consumer displays

Consumer BehaviourMarketer has to convince the customer to choose his productsMarketers should knowWhat customers buyWhy they buyWhere they buyWhen they buyHow they buy

Marketing Orientation and concepts

Production ConceptProduct ConceptSelling ConceptMarketing ConceptWhat does consumer wantCustomer Satisfaction Concept

Marketing ConceptTypes of Customers/ ConsumersHousehold ConsumersInstitutional/ Organizational Consumers

Marketing ConceptCompetitive AdvantageCustomer SatisfactionCustomer ValueCustomer Retention

Marketing ConceptSegmentationTargetingPositioningMarketing MixCompanys capabilitiesUnique Selling PropositionCompanys OfferingCustomer Retention

Current ChallengesRapidly evolving technologyEthicsChanging needs and wantsCultural assimilationEnvironmental issuesGlobalization

Self Assessment Write down the reasons why you will buy a particular productWhile writing think about the factors that have influenced your decisionWrite the reasons that may help you change the choice you made earlier

WhetherWhatWhyHowWhenWhereHow much/Often/how longDecisionsConsumptionOfferingDecision UnitsMarketing Strategies and TacticsHours Consumer Behavior Model

Upcoming LectureCustomer ValueCompetitive AdvantageConsumer Research

************Prepare in following sequenceDecisionsConsumptionOfferingDecision UnitsHoursMarketing Strategies and Tactics

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