1 / 12

What is Consumer Behavior?

Explore the intricacies of consumer behavior from human interactions to economic impacts, studying how individuals seek value in addressing needs. Learn the role of consumer behavior in marketing, society, and personal growth. Discover different approaches to studying consumer behavior and how it evolves with changing technology and demographics.

annettedavis
Download Presentation

What is Consumer Behavior?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What is Consumer Behavior? Chapter 1

  2. Overview of Consumer Behavior • Every day interactions • Important to: • Marketers • Policymakers • Consumers

  3. Consumer Behavior • Two definitions: 1. As human behavior: • “Set of value-seeking activities that take place as people go about addressing realized needs”

  4. Basic Consumption Process NEED WANT EXCHANGE COSTS & BENEFITS REACTION VALUE

  5. Consumer Behavior • Two definitions: 2. Study of consumers as they go about the consumption process; study how they seek value to address needs

  6. Consumer Behavior Economics Anthropology Consumer Behavior Sociology Psychology Marketing

  7. How Are Consumers Treated? • Two determinants • How competitive is the environment? • License Bureau v. Upscale restaurant • Consumer orientation v. market orientation • How dependent on repeat business? • Relationship marketing • Touchpoint

  8. Role of Consumer Behavior • CB & Marketing • Resource advantage theory • What do consumers give up? • What are they looking for? • Products v. Attributes • Milkshake study • Understanding value helps determine who your competitors are • Examples:

  9. Role of Consumer Behavior • Business Orientation • Undifferentiated • Production • Wal-mart • Differentiated • Toyota • Niche • One specific group

  10. Role of Consumer Behavior • CB & Society • Purchasing behaviors shape society • What’s “cool” and “not cool” • CB & Personal Growth • Debt • Credit cards

  11. Approaches to CB • How can we study it? • Interpretive research • Qualitative • Pros & cons • Phenomenology • Ethnography • Quantitative • Pros & cons

  12. CB is Dynamic • CB changes over time • Internationalization • Technological changes • TV ads • Internet • Changing demographics • Changes in the family • How does this affect their CB?

More Related