CONSUMER BEHAVIOR Building Marketing Strategy Eighth Edition HAWKINS

CONSUMER BEHAVIOR Building Marketing Strategy Eighth Edition HAWKINS BEST CONEY Irwin/Mc. Graw-Hill Copyright © 2001 by The Mc. Graw-Hill Companies, Inc. All rights reserved.

CHAPTER ONE Consumer Behavior and Marketing Strategy Irwin/Mc. Graw-Hill Copyright © 2001 by The Mc. Graw-Hill Companies, Inc. All rights reserved.

Marketing Strategy and Consumer Behavior 1 -1 Outcomes Individual Firm Society Consumer decision process Problem Recognition Information Search Alternative Evaluation Purchase Use Evaluation Marketing strategy Product, Price, Distribution, Promotion, Service Marketing segmentation Identify product-related need sets Group Customers with similar need sets Describe each group Select attractive segment(s) to target Marketing analysis Company Competitors Conditions Consumers Irwin/Mc. Graw-Hill Copyright © 2001 by The Mc. Graw-Hill Companies, Inc. All rights reserved.

Market Segment Attractiveness Worksheet 1 -2 Criterion Score* Segment size _______ Segment growth rate _______ Competitor strength _______ Customer satisfaction with existing products _______ Fit with company image _______ Fit with company objectives _______ Fit with company resources _______ Distribution available _______ Investment required _______ Stability/predictability _______ Cost to serve _______ Sustainable advantage available _______ Communications channels available _______ Risk _______ Other (________) _______ *Score on a 1 to 10 scale, with 10 being most favorable. Irwin/Mc. Graw-Hill

Creating Satisfied Customers 1 -3 Our total product Competitors’ total product Irwin/Mc. Graw-Hill Consumer decision process Superior value expected Sales Perceived value delivered Customer satisfaction Copyright © 2001 by The Mc. Graw-Hill Companies, Inc. All rights reserved.

Consumer Behavior is Product—Person—Situation Specific 1 -4 Personal characteristics Consumer behavior Product characteristics Marketing strategy Consumption situation Irwin/Mc. Graw-Hill Copyright © 2001 by The Mc. Graw-Hill Companies, Inc. All rights reserved.

Overall Model of Consumer Behavior 1 -5 EXTERNAL INFLUENCES Culture Subculture Demographics Social Status Reference Groups Family Marketing Activities INTERNAL INFLUENCES Perception Learning Memory Motives Personality Emotions Attitudes Irwin/Mc. Graw-Hill Experiences and Acquisitions SITUATIONS Problem Recognition Information Search SELF-CONCEPT and LIFESTYLE Needs Alternative Evaluation and Selection Desires Outlet Selection and Purchases Postpurchase Processes Experiences and Acquisitions SITUATIONS Copyright © 2001 by The Mc. Graw-Hill Companies, Inc. All rights reserved.