Consumer Behaviour Notes

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Consumer Behaviour Notes
Lecture 1 – Overview of Consumer Behaviour
Getting to Know Consumer Behaviour (CB)
Marketing Decisions
* Market segmentation is the basis of most marketing strategies, it involve identifying consumer groups with unique needs and/or purchasing processes, and developing specific marketing programs targeted at individual groups. * Target segment(s)

* Single or multiple-target segments
* Product positioning is the way a product or brand compares to its competitors, as perceived by consumers. * Key product differentiation variables
* Position relative to competition
* Marketing mix is the combination of product, price, distribution and promotion. * Product features
* Price level
* Promotional appeal
* Place (distribution)
Consumer Influences
* External influences
* Culture and values
* Demographics, income and social class
* Reference groups and households
* Marketing activities
* Internal influences
* Needs, motives, and emotions
* Perceptions and memory
* Personality and lifestyle
* Attitudes
* Situational influences
* Physical, time, social, task and antecedent
* Decision-process influences
* Problem recognition
* Information search
* Alternative evaluation
* Outlet selection
* Purchase
* Post purchase processes

Some Marketing Concepts
* Customer value is the difference between all the benefits derived from a total product and all the costs of acquiring those benefits. * Customer satisfaction is the feeling that a product has met or exceeded the customer’s expectation. * Consumer behaviour is a discipline dealing with how and why consumers purchase (and do not purchase) goods and services. Hidden Messages of Consumer Behaviour

* Consumer behaviour involves exchanges
* Consumer behaviour involves interaction
* Consumer behaviour is dynamic
Overview of Consumer Behaviour

Approaches to study Consumer Behaviour
* Economics
* Psychology
* Sociology
* Anthropology
* Demography

Stay Hungry

Consumer Behaviour is Product-Person-Situation Specific

Lecture 2 – Framework for Consumer Analysis
A Framework for Consumer Analysis
The Wheel of Consumer Analysis

Consumer Affect and Cognition
* Affect – feeling
* Love/anger
* Satisfaction/frustration
* Excitement/boredom
* Liking/disliking
* Cognition – thinking
* Knowledge
* Beliefs
* Perceptions
* Memory
Consumer Behaviour
* Behaviour refers to the physical actions of consumers that can be directly observed and measured by others. Behaviour Models (supplementary readings)
Marshallian Economic Model
* The theory holds that purchasing decisions are the result of largely “rational” and conscious economic calculations. The individual buyer seeks to spend his income on those goods that will deliver the most utility (satisfaction) according to his tastes and relative prices. Goffman Model

* Views persons as actors “playing a role.” In the presence of others, the actor is seen to organise his activity in order to express an impression that he wishes to convey. This expression is known as role enactment. * Role enactment in is the major dependent variable and is the resultant of the following independent variables: * Role expectations

* Role location
* Role demands
* Role skills
* Self-role congruence
* The audience
Riesman Model
* This theory claims that human beings can be grouped into three major types of social character: * Tradition-direction
* Inner-direction
* Other-direction
* Social character refers to “ways of behaviour” or “modes of conformity to the culture and society” in which the individual is operating. Veblenian Model
* Veblenian man acts in a way which is...
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