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Transcript of Marketing Slides
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ANALYZING CONSUMER MARKETS
Farhan S. SheraziLECTURE-1
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Consumer Behavior– you are what you buy…
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•Think of a recent important purchase– briefly draw a flowchart of the steps you recall moving through from the awareness of need to post purchase
•What influenced you at each step?
A SIMPLE QUESTION
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What is Consumer Behavior?
• “The actions a person takes in purchasing and using products and services, including the mental and social processes that precede and follow these actions.”
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Consumer Decision-Making Process
Postpurchase Behavior
Postpurchase Behavior
PurchasePurchase
Evaluation of Alternatives
Evaluation of Alternatives
Information SearchInformation Search
Need RecognitionNeed Recognition
Cultural, Social, Individual and Psychological
Factors affect
all steps
Cultural, Social, Individual and Psychological
Factors affect
all steps
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1-7
The consumption process
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Complete model of consumer behavior
Stimuli (marketer dominated, other)
External search
Memory
Internal search
Exposure
Attention
Comprehension
Acceptance
Retention
Search
Need recognition
Alternative evaluation
Purchase
Outcomes
Dissatisfaction Satisfaction
Individual differences• resources• motivation & involvement• knowledge• attitudes• personality, values, lifestyle
Influences• culture• social class• family• situation
Start
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Consumer’s decision regarding need for a productInformation Search regarding alternatives
Acquisition of product being stressful or convenient.
Product being of pleasure or distress to consumer
How the consumers form or change attitude regarding a product. How consumers infer about product.
Situational factors like time and place of display.
What determines whether a consumer will be satisfied with a product an d what makes consumer refer the product.
CONSUMER’S PERSPECTIVE MARKETER’S PERSPECTIVE
Pre-PurchaseIssues
PurchaseIssues
Post-PurchaseIssues
Stages in consumption process
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SEGMENTING CONSUMERSSEGMENTING DIMENSIONS
AGE
GENDER
FAMILY STRUCTURE
SOCIAL CLASS & INCOME
RACE & ETHNICITY
GEOGRAPHY
LIFESTYLES
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CONSUMPTION – AN INTERESTING FACT
PEOPLE OFTEN BUY PRODUCTS NOT FOR WHAT THEY DO BUT FOR WHAT
THEY MEAN
SELF CONCEPT ATTACHMENT
NOSTALGIC ATTACHMENT
INTERDEPENDENCE
LOVE
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NEEDS & WANTS-DO MARKETERS MANIPULATE
Who Controls the Market? Consumer or Marketers
Do Marketers Create Artificial Needs?
Are Advertising & Marketing Necessary?
Do Marketers promise miracles?
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Addictive Consumption
THE DARK SIDE
Compulsive Consumption
Consumed Consumers
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Addictive ConsumptionReliance on a product becomes extreme
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Compulsive ConsumptionBorn to shop
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Consumed ConsumersProstitutes, Organ & Hair Donors,Babies for Sale
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THE ISSUE OF TWO PERSPECTIVES ON CONSUMER RESEARCH
PositivismHuman Reasoning being supreme.Stress on quantitative analysis.World as rational & ordered place with clearpast, present and future.
InterpretivismCritical about dominance of Science & Technology.World is complex, social and cultural.World as being composed of relative parameters
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ANALYTICAL EXERCISE-1DEVELOP GROUPS…MAXIMUM MEMBER : 05
DEVELOP A MESSAGE FOR THE PRODUCT SHOWN BELOW KEEPING IN VIEW OF CONSUMER DECISION MAKING PROCESS
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NOW THINK OF THE FOLLOWING