Consumer Behavior MKT 750

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Consumer Behavior MKT 750

• Professor Pat West

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Agenda

• Introductions
• Class website http//fisher.osu.edu/west_284/mk
  t750s05 or
• class.osu.edu
• Syllabus highlights
• Course overview
• Assignment

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Syllabus Highlights

• Course Objective
• To develop a deeper understanding of and
  appreciation for consumers
• To learn how to better serve your customers and
  develop strong relationships
• Class materials
• Consumer Behavior Building Marketing Strategy,
  9th edition (Hawkins, Best, and Coney)

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Syllabus Highlights

• Requirements
• Individual Components Points
• Participation 100
• Two exams _at_ 100 points each 200
• Team Components
• Phase 1 Immersion Research 100
• Phase 2 Idea Generation 100
• Phase 3 Implementation Report 100
• 600

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Keys to Success

• Come to class prepared
• Keep up on readings
• Stay on top of deadlines
• Treat others professionally
• Show pride in your work
• Be respectful

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Considered appropriate

• Be considerate of others
• Get involved and participate
• Strive to be a good teammate
• Manage your time wisely

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Please refrain from

1. Coming in late
2. Leaving class early
3. Sidebar conversations
4. Cellular phone interruptions
5. Eating food in the classroom

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Honor Code

• What is academic misconduct?
• Any activity that compromises the academic
  integrity of the institution or subverts the
  educational process.
• How will it be dealt with?
• You will be dismissed from the class.
• The University Committee on Academic Misconduct
  will be notified.

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Course Overview

• What is consumer behavior?
• Why study it?
• How does this relate to marketing?
• Some essential tools

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What is Consumer Behavior?

• The study of individuals, groups, or
  organizations and the processes they use to
  select, secure, use, and dispose of products,
  services, experiences, or ideas to satisfy needs
  and the impact that these processes have on the
  consumer and society
• -- Hawkins, Best, and Coney 2004
• The study of the cognitive, emotional, and
  physical activities associated with the
  perception, evaluation, choice, acquisition, use,
  and disposition of goods and services.

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Why Study Consumer Behavior?

• The Marketing Concept
• Marketing is the process of planning and
  executing the conception, pricing, promotion, and
  distribution of ideas, goods, and services to
  create more satisfying exchanges than the
  competition.
• Corollary
• Success in the marketplace requires knowing,
  then attracting, satisfying, and retaining
  customers.

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Why Study Consumer Behavior?

• No brand/product can appeal to all people.
• Firms must segment the market into groups with
  relatively homogeneous preferences and target one
  or more groups.
• Firms must position their offerings in the hearts
  and minds of these individuals in a favorable
  way.
• Firms must examine all of the touch points that
  shape how a consumer will respond to their
  offering.

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Why Study Consumer Behavior?

• Our guesses about people are inaccurate.
• This is because human nature leads us to believe
  that other people think like us
• false consensus
• People tend to perceive differences even when
  they dont exist
• stereotyping

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Why Study Consumer Behavior?

• Therefore, we must strive to
• Identify customer needs and wants
• Engage in research
• Understand how customers will respond to
  different messages and environments
• Learn about and apply theories
• Anticipate where preferences are headed
• Staying informed

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Essential Tools

• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence

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Consumer Decision Making

• Consumer-side
• Marketer-side

Choice
Alternative Evaluation
Search
Need Recognition
Post-Purchase Evaluation
Action
Desire
Interest
Awareness
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Essential Tools

• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence

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Demographic Trends

• Aging population
• Cultural Diversity Globalization

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Lifestyle Segment Trends

• Staying connected
• Cellular phones
• Instant messaging
• Health Fitness
• Atkins
• Water

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Essential Tools

• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence

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Consumer Information Processing
Stimuli Exposure Attention
Comprehension
Acceptance Retention Purchase
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Essential Tools

• Consumer Decision Making
• Demographics / Trends
• Information Processing
• Social Influence

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Social Influence

• Creating Buzz through word of mouth
• Cultural and generational influence
• Family Group Influence

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Assignment

• Carefully read the syllabus
• There will be a quiz on it next time
• Study Chapter 1 of the textbook
• Begin applying the strategic framework discussed
  to the team project we will be working on
• What do we know about the 5 Cs, Segmentation,
  Targeting, and Positioning?