Introduction to Consumer Behavior
Chapter 1 – An Introduction to Consumer Behaviour
What is Consumer Behaviour?
Consumer Behaviour: it covers a lot of ground: it is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas, or experiences to satisfy needs and desires
Consumer takes many forms
The field of consumer behavior is referred to buyer behaviour: it is the interaction between consumers and producers at the time of price
It is now considered an ongoing process
Exchange: two or more organizations or people give and receive something of value, is the integral part of marketing
It emphasizes the entire consumption process, which includes the influence the consumer before, during, and after a purchase
CONSUMERS IMPACT ON MARKETING STRATEGY
Marketing professionals want to understand consumer behaviour because understanding consumer behaviour is good
A basic marketing concept states that firms exists to satisfy consumers’ needs and can be satisfied if the marketers understand the consumers
Consumers response is the ultimate test of whether the marketing strategy will succeed
The purpose of understanding consumer behaviour is to predict the future
Segementing Consumers
Market segmentation: identifies groups of consumers who are similar to one another in one or more ways and then devises marketing strategies that appeal to one or more groups
Demographics: are statistics that measures observable aspects of a population such as birth date, age distribution, and income
Psychographics: differences in consumers personalities, attitudes, values, and lifestyles
Age
Different age groups have very different needs and wants
They tend to share a set of values and common experiences that they carry throughout life
Gender
Many products from fragrances to footwear are targeted at either men or women
Even diapers are sold in pink versions for girls and blue of guys
Family Structure and Life stage
It has a such a big
What is Consumer Behaviour?
Consumer Behaviour: it covers a lot of ground: it is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas, or experiences to satisfy needs and desires
Consumer takes many forms
The field of consumer behavior is referred to buyer behaviour: it is the interaction between consumers and producers at the time of price
It is now considered an ongoing process
Exchange: two or more organizations or people give and receive something of value, is the integral part of marketing
It emphasizes the entire consumption process, which includes the influence the consumer before, during, and after a purchase
CONSUMERS IMPACT ON MARKETING STRATEGY
Marketing professionals want to understand consumer behaviour because understanding consumer behaviour is good
A basic marketing concept states that firms exists to satisfy consumers’ needs and can be satisfied if the marketers understand the consumers
Consumers response is the ultimate test of whether the marketing strategy will succeed
The purpose of understanding consumer behaviour is to predict the future
Segementing Consumers
Market segmentation: identifies groups of consumers who are similar to one another in one or more ways and then devises marketing strategies that appeal to one or more groups
Demographics: are statistics that measures observable aspects of a population such as birth date, age distribution, and income
Psychographics: differences in consumers personalities, attitudes, values, and lifestyles
Age
Different age groups have very different needs and wants
They tend to share a set of values and common experiences that they carry throughout life
Gender
Many products from fragrances to footwear are targeted at either men or women
Even diapers are sold in pink versions for girls and blue of guys
Family Structure and Life stage
It has a such a big