MKT530 Handouts Lectures 1-45

VU

Table of Contents · Lesson # · Title · Page #

Consumer Behavior Research ……………….……………….………………... 8 Customer Satisfaction ………………..……………….……………….………

Target Market ……………….……………….……………….……………….. 22 Motivation ……………….……………….……………….…………………... 29 Personality ……………….……………….……………….……………….….. 36 Personality (cont’d) ……………….……………….……………….…………. Perception ……………….……………….……………….……………….….. 47 Perception (contd.) ……………….……………….……………….………….. 52 Product Positioning ……………….……………….……………….…………. 56 Repositioning ……………….……………….……………….……………….. 61 Learning ……………….……………….……………….……………….……. 69 Conditioning ……………….……………….……………….………………... Instrumental Learning ……………….……………….……………….………. 80 Theories (Cont’d) ……………….……………….……………….…………… 85 Attitude ……………….……………….……………….……………….……. Cognition ……………….……………….……………….…………………… 94 Attitude Formation ……………….……………….……………….…………. Consumer Learning Processes ……………….……………….………...……... Attribution ……………….……………….……………….……………….…. Communication ……………….……………….……………….……………... 113 Branding ……………….……………….……………….……………….…… Communication Strategy ……………….……………….……………….……. 121 Marketing Communications and Ethics ……………….……………….……... Influence ……………….……………….……………….……………………. 129 Message Strategies and Appeals ……………....……………….………………. 135 VU

Social and Cultural Dimensions ……………....……………….….…………… 141 Reference Groups and Its Influence ……………….……………...…………... 146 Family influences and socialization process ……………….……………….….. 151 Social Class ……………….……………….……………….………………….. 155 Social Class and Its Influence on Consumer Behavior ……………….…….….. 158 The Influence of Culture on Consumer Behavior ………..…….……………… 161 Core Cultural Values and Measurement ……………….……………....………. 164 Sub CultureIssues in Marketing ……………….………...…….……………... Marketing Strategy and Values ……………….…………………....…………... 170 Cultures in An International Context ……………….………………...……….. 173 Global Marketing ……………….……………….……………….…………… 177 Consumer Influence and The Diffusion Process ……….…….……………….. 181 Adoption Process and Information Source …………………………………… 183 Post Purchase Dissonance ……………….……………….…………….……... 187 Customer Satisfactions and Commitment ……………….……………...……... 190 Models of Consumer Behavior - An Integrative Framework ………………..… 194 Consumer Decision making and Beyond to Consumer Relationship Marketing.. 197

LESSON 1 · An Introduction to Consumer Behavior · Agenda:

Q1. What is consumer behavior?

2. Marketing concepts
3. Types of consumers
4. Implementation of marketing concepts
5. Current challenges for marketers
6. Consumer behavioral model

Introduction

Consumer behavior is the study of processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires. More specifically, consumer behavior is considered to be a decision making process. It is the totality of all activities and behaviors that consumer displays. For example, shopkeeper in a village want to sell his products to a customer, he needs to understand the needs of customer before he moves to the actual exchange. Marketer has to persuade the customers to choose his products for which he needs to know two important things: what influences customers how to make their product as choice number one For example; in early 19th century, Ford developed Ford Motor Car with an ambition to provide the cheapest car to every one who could buy. That was one aspect of the ‘marketing concept’. On the other side of the picture, within 10 years of its launch, Alfred P. Sloan decided to launch a car for “every body’s choice”, hence they launched General Motors. And this concept was later emerged as marketing segmentation.

Marketing has gone through a number of phases: five most important steps are as follows:

1. The Production Concept
2. The Product Concept