mktg 420 professor frank pons spring 2005 consumer behavior
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MKTG 420
Professor Frank Pons
Spring 2005
CONSUMER BEHAVIORCONSUMER BEHAVIOR
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What is What is
CONSUMER BEHAVIOR ?CONSUMER BEHAVIOR ?
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DefinitionDefinition
Consumer behavior reflects the totality of consumers’ decisions and reactions with respect to the acquisition, consumption, and disposition
of goods, services, time, and ideas made by decision making units over time.
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Exhibit 1.2: What is Consumer Behavior?
backInfo 1
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Consumer Behaviors??Consumer Behaviors??
• Spring Break Trip to Cancun.
• Listening to your favorite band live in a concert hall? Downloaded on the internet through KAZAA?
• Playing Basket Ball with your University team?
• Adopting a Child from a different country?
• Selling counterfeit products on e-bay?
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Consumer Consumer Behavior: Behavior:
Course Course FrameworkFramework
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Consumer Behavior as an Consumer Behavior as an Academic Discipline and an Academic Discipline and an
Applied ScienceApplied Science
Factors that contributed to the growing interest in consumer behavior:– accelerated rate of new product development– consumer movement– public policy concerns– environmental concerns– the opening of national markets throughout
the world
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Who Benefits from the Study Who Benefits from the Study of Consumer Behavior? of Consumer Behavior?
Marketing Managers Public Policy Makers and
Regulators Consumers
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Understanding consumers’ issues or problems and developing methods to reach and educate consumers
Educating Consumers About Cancer
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Tums educates consumers about the importance of calcium and increases awareness of its calcium content
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Marketing’s Impact on ConsumersMarketing’s Impact on Consumers
Marketing and Culture:
– Popular Culture: Music, movies, sports, books, celebrities, and other
forms of entertainment consumed by the mass market.
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Popular CulturePopular Culture
Companies often create product icons to develop anidentity for their products. Many made-up creatures andpersonalities, such as Mr. Clean, the Michelin tire man andthe Pillsbury Doughboy, are widely recognized figures inpopular culture.
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Marketing Implications of Marketing Implications of Consumer BehaviorConsumer Behavior
Developing a Customer-Oriented Strategy
– How Profitable Is Each Segment?– What Are the Characteristics of Consumers in
Each Segment?– Are Customers Satisfied with Existing
Offerings?
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Marketing Implications of Marketing Implications of Consumer BehaviorConsumer Behavior
Selecting the Target MarketPositioning
– How Are Competitive Offerings Positioned?– How Should Our Offerings Be Positioned?– Should Our Offerings Be Repositioned?
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Market SegmentationMarket Segmentation
Finely-tuned marketing
segmentation strategies
allow marketers to
reach only those
consumers likely to be
interested in buying
their products.
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RepositioningRepositioningHow are you perceived NOW? How do you WANT to be perceived?
Convenient Convenient
Inconvenient Inconvenient
High $ Low $ High $ Low $ *
*
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Marketing Implications of Marketing Implications of Consumer BehaviorConsumer Behavior
Developing Products or Services– What Ideas Do Consumers Have for New
Products?– What Attributes Can Be Added to or Changed
in an Existing Offering?– What Should Our Offering Be Called?– What Should Our Package and Logo Look
Like?– What About Guarantees?
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Marketing Implications of Marketing Implications of Consumer BehaviorConsumer Behavior
Making Promotion (Marketing Communications) Decisions– What Are Our Advertising Objectives?– What Should Our Advertising Look Like? – Where Should Advertising Be Placed?– When Should We Advertise?– Has Our Advertising Been Effective– What About Sales Promotion Objectives and Tactics?– When Should Sales Promotions Happen?– Have Our Sales Promotions Been Effective?– How Many Salespeople Are Needed to Serve Customers?– How Can Salespeople Best Serve Customers?
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Marketing Implications of Marketing Implications of Consumer BehaviorConsumer Behavior
Making Pricing Decisions– What Price Should Be Charged?– How Sensitive Are Consumers to
Price and Prices Changes?– When Should Certain
Price Tactics Be Used?
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Marketing Implications of Marketing Implications of Consumer BehaviorConsumer Behavior
Making Distribution Decisions
– Where Are Target Consumers Likely to Shop?
– How Should Stores Be Designed?
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The Underlying Principles of Consumer Behavior
The Consumer is Sovereign
Consumers are Different; Consumers are Alike
The Consumer has Rights
Everyone Needs to Understand Consumers
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Challenges for the Future
Gathering and interpreting information that organizations need to meet changing needs of consumers
Developing effective consumer research methods to capture changes in trends and lifestyles
Understanding consumer behavior from a broader perspective as an important part of life
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The Merchants of Cool (Video)The Merchants of Cool (Video) How would you describe the teen market (importance,
characteristics, homogeneous)?
Why do you think some companies in the video (Sprite, MTV) have been so successful in marketing to teens?
How are culture and marketing related? Which one influences the other in this video?
Consumer Research represents a key feature in this video. What types of research are presented in this video? What kind of information do they provide? How have marketers use this information.
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Consumer Consumer ResearchResearch
Methodology used to study Methodology used to study consumer behavior.consumer behavior.
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DefinitionDefinition
The variable is the entity that is studied or that varies in a research project.
Importance of the RESEARCH QUESTION ?
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Primary Versus Secondary DataPrimary Versus Secondary Data
Primary Data : Data originating from a researcher and collected to provide information relevant to a specific research project.
Secondary Data: Data collected for some other purpose that is subsequently used in a research project.
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Exhibit 2.5: Who Conducts Consumer Research?Exhibit 2.5: Who Conducts Consumer Research?
Nielsen Direct Marketing Association
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Consumer Behavior Research Consumer Behavior Research MethodsMethods
SurveysFocus GroupsInterviewsStorytellingUse of Photography
and Pictures
DiariesExperimentsField ExperimentsObservationsPurchase PanelsDatabase Marketing
Key words: Valid and ReliableKey words: Valid and Reliable
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Qualitative Versus Quantitative ResearchQualitative Versus Quantitative Research Quantitative studies:Quantitative studies:
Many data points (consumers): Quantity of information. Statistical Analysis Able to Quantify and forecast All companies: money saver.
Qualitative studies:Qualitative studies: Few data points (consumers): Quality of information. Interpretation: Subjectivity Able to Qualify and understand Fewer companies: more and more important. Beware of underestimation: Importance and Difficulty.
What about Multi-method and Bias?What about Multi-method and Bias?
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Ethical Issues in Ethical Issues in Consumer ResearchConsumer Research
The Negative Aspects of Consumer Research– Tracking Consumer Behavior in
Different Countries– Potentially Higher Marketing Costs– Invasion of Consumer Privacy– Deceptive Research Practices