Consumer Behavior MKTG 301 Chapter 1 2 EcoConsumer

Consumer Behavior [MKTG. 301] Chapter 1& 2: Eco-Consumer & Green Marketing Strategy Ch. 1: WHICH CONCEPT TOPICS BEST EXPLAIN ECO-CONSUMER MARKETS? (A) UNDER-STANDING CONSUMERS ØCustomer EDUCATION * IBM Educating Decision Makers ØCustomer VALUE * MAC specified “green” benefits and cost savings (“less energy than a light bulb”) (B) INDIVIDUAL & ORGANIZ. INFLUENCES (C) OBTAINING, CONSUMING, & DISPOSING Ø Organizational = IBM * Marketing Mix VALUE Tailored by COMPANY to Financial Cost Criteria Ø GREEN-CAR (Prius, Honda, Lexus) Emphasize the factor of SUSTAINABILITY for “OBTAINING/CONSUMING” & Eco-Friendly “DISPOSING” Ø Individual = MAC * Consumer VALUE Derived from Personal Characteristics of Users Ø MAC Raises Eco-Preservation in Product Description without Skimming “Green Benefits” with Metaphor or Imagery (D) EVOLUTION OF MARKETING & CONSUMER BEHAVIOR ØALL Green Consumer Ads Address the CUSTOMER ORIENTATION Evolution Stage, Since the Eco-Friendly Principles and Preferences of Individual Customers (B 2 C & B 2 B) are Prioritized Most Ø The Recent Stage of Marketing Evolution is also Highlighted by the Ads Focus on CUSTOMER ORIENTED “Intangibles” VS. PRODUCT ORIENTED “Tangibles” (E) ETHICS & CONSUMER RIGHTS Ø MARKETING ETHICS & CONSUMER RIGHTS are Directly Addressed by “Eco. Friendly” Brands/Ads Ø The Focus on “Gen Y” and Future Generations by Ads and Brand Designs Conveys ETHICAL PRINCIPLES like Sustainability, and Social Responsibility

Consumer Behavior [MKTG. 301] Chapter 1& 2: Eco-Consumer & Green Marketing Strategy Chapter 2: WHICH CONCEPT BEST EXPLAINS “LOHAS” GREEN MARKETING STRATEGY? CUST-CENT ORG 1) Shared Vision Focus on “Going Green” to Improve CUSTOMERS Eco. Lifestyles 2) Cross-functional Integration All Functions and Activities Required to Operate with Environmental Responsibility and Held Accountable for Contributing to the SHARED VISION of Improving Customers’ Eco. Lifestyles 3) System-wide Simultaneous Training Specific Programs and Applications Designed to Increase Awareness of Eco-Lifestyle Customer VISION and Guide Particular Functional Areas in Developing Responsible Behaviors 4) Customer-Based Metrics * MARKET METRICS -- Track and Analyze Share of LOHAS MARKET ANALYSIS Ø Address MARKET ANALYSIS factors: * EXTERNAL ENVIRONMENT * COMPETITORS * CUSTOMERS * INTERNAL RESOURCES Ø Measure Early “Green” Adopters’ Attitudes along with their Characteristics & Expectations Ø Map Early “Green” Adopter Profiles Onto New Market Prospects to Project Future “Eco. Friendly” Offerings and Ads M-MIX & BRAND Ø Symbolic designs that reinforce “green” on the products Ø Promote the use and behavior of natural materials ØEnergy efficient retail stores GLOBAL BEHAVIOR ØALL CUSTOMERCENTRIC ORGANIZATION APPLICATIONS APPLICABLE TO GLOBAL DIMESNIONS: A) Demand: Foreign MARKETS of “Green” Consumers B) Supply: Foreign SOURCES of “Green” Product/Service Materials C) Methods: Foreign MODES of “Green” Organization Management and Marketing