Summary/ Course Notes Consumer Behavior & Marketing Strategy
Chapter 1 Introduction to Consumer Behavior and Marketing Strategy:
(Key terms + explanation in notebook)
Slide 2: Why is CB part of marketing?
Term: marketing concept
-Successful companies: designing the entire organization to serve customers and stay close to them. Committed to developing quality products and services and selling them at a price that gives consumer high value
-All departments focus on doing their jobs in ways that enhance the value of products to consumers
-Three major reasons why companies are making changes to serve customers better
1. Dramatic success of Japanese companies providing consumers with value laden products
2. Dramatic increase in the quality of consumer and marketing research
3. Development of the Internet as a marketing tool
Slide 3: What is CB?
Term: Consumer behavior
-In other words, consumer behavior involves the thoughts and feelings people experience and the actions they perform in the consumption process.
-Includes also all the things in the environment that that influence these thoughts, feelings and actions.
Include:
-Comments from other consumers
-Advertisements
-Price information
-Packaging
-Product appearance
-Blogs and many others
Consumer behavior is dynamic, involves interactions, and involves exchanges
Dynamic: thinking, feelings, and actions of individual consumers, targeted consumer groups, and society at large are constantly changing
Involves interactions: Marketers need to understand what products and brands mean to consumers, what consumers must do to purchase and use them, and what influences shopping, purchase and consumption.
Involves exchanges: people give up something of value to others and receive something in return
Slide 4: How is CB studied?
-Approaches to Consumer Behavior Research
Interpretive approach: based on theories and methods of cultural anthropology. This approach seeks to develop a deep understanding of consumption and its meanings. Long
(Key terms + explanation in notebook)
Slide 2: Why is CB part of marketing?
Term: marketing concept
-Successful companies: designing the entire organization to serve customers and stay close to them. Committed to developing quality products and services and selling them at a price that gives consumer high value
-All departments focus on doing their jobs in ways that enhance the value of products to consumers
-Three major reasons why companies are making changes to serve customers better
1. Dramatic success of Japanese companies providing consumers with value laden products
2. Dramatic increase in the quality of consumer and marketing research
3. Development of the Internet as a marketing tool
Slide 3: What is CB?
Term: Consumer behavior
-In other words, consumer behavior involves the thoughts and feelings people experience and the actions they perform in the consumption process.
-Includes also all the things in the environment that that influence these thoughts, feelings and actions.
Include:
-Comments from other consumers
-Advertisements
-Price information
-Packaging
-Product appearance
-Blogs and many others
Consumer behavior is dynamic, involves interactions, and involves exchanges
Dynamic: thinking, feelings, and actions of individual consumers, targeted consumer groups, and society at large are constantly changing
Involves interactions: Marketers need to understand what products and brands mean to consumers, what consumers must do to purchase and use them, and what influences shopping, purchase and consumption.
Involves exchanges: people give up something of value to others and receive something in return
Slide 4: How is CB studied?
-Approaches to Consumer Behavior Research
Interpretive approach: based on theories and methods of cultural anthropology. This approach seeks to develop a deep understanding of consumption and its meanings. Long