Consumer Behavior Introduction Understanding consumer behavior Mental models

  • Slides: 9
Download presentation
Consumer Behavior Introduction Understanding consumer behavior: Mental models for marketers

Consumer Behavior Introduction Understanding consumer behavior: Mental models for marketers

Consumer Behavior Introduction Mental models for marketers • knowledge structures that organize our thinking

Consumer Behavior Introduction Mental models for marketers • knowledge structures that organize our thinking about how the world works • mental models indicate which factors should be considered and how they are related to each other • they are useful because they facilitate topdown processing (as opposed to bottom-up processing)

Consumer Behavior Introduction Issues in using mental models • assembling an arsenal of mental

Consumer Behavior Introduction Issues in using mental models • assembling an arsenal of mental models for a domain of interest • retrieving relevant mental models in a given situation • being aware of the limitations of mental models (they may overrepresent and underrepresent, or even malrepresent, things)

Consumer Behavior Introduction The marketing concept According to the marketing concept, the key to

Consumer Behavior Introduction The marketing concept According to the marketing concept, the key to reaching organizational goals is to – – –

Consumer Behavior Introduction Customer vs. competitor focus customer centered no yes no selforientation customer

Consumer Behavior Introduction Customer vs. competitor focus customer centered no yes no selforientation customer orientation yes competitor orientation market orientation competitor centered

Consumer Behavior Introduction The introduction of New Coke One of the most famous marketing

Consumer Behavior Introduction The introduction of New Coke One of the most famous marketing stories is the introduction of New Coke in 1985. Do some online research (Wikipedia is a good source) to answer the following questions: • Why did the Coca-Cola Company decide to reformulate its flagship soft drink? • How was the research leading to the reformulation conducted? • Do you think Coca-Cola practiced the marketing concept when introducing New Coke, or when bringing back Coke Classic? Why or why not?

Consumer Behavior Introduction The market-oriented company all consumers in the market Marketing mix Product

Consumer Behavior Introduction The market-oriented company all consumers in the market Marketing mix Product Price Communication Target marketing and positioning target market segment(s) Distribution Marketing strategies of competitors

Consumer Behavior Introduction Consumer behavior The study of consumer behavior is concerned with the

Consumer Behavior Introduction Consumer behavior The study of consumer behavior is concerned with the phenomena involved in the acquisition, usage, and disposition of products by end users. It deals with all aspects of individual consumer functioning, including consumers’ interactions with their environment, with an emphasis on how consumers respond to marketing influence attempts.

Consumer Behavior Introduction A model of consumer buying behavior Marketing influences • Product and

Consumer Behavior Introduction A model of consumer buying behavior Marketing influences • Product and price programs • Marketing communication programs • Distribution programs Psychological background • • Memory Perception Affect Motivation & personality Consumer decision making process • Types of purchase behavior • Decision making and choice • The consumption experience • Post-purchase processes Environmental influences • Physical environmental influences • Social environmental influences