study notes consumer behaviour
CHAPTER 1
Consumer Behaviour and Marketing Strategy
Marketing Strategy
The combination of product, price, distribution and promotion most suited to a particular group of consumers.
Consumer Behaviour
A discipline dealing with how and why consumers purchase (or do not purchase) goods and services.
Learning to anticipate consumer behaviour is the key to planning and managing in today’s ever-changing marketing environment.
Influences on consumer behaviour (understanding)
Purchase and use behaviour
Regulatory policy – to protect consumers
Marketing strategy – to satisfy target consumer needs
Information processing and decision making
Group influences
Needs, emotions, values and personalities
Demographics and household structure
Marketing researchers need to speak to hundreds of consumers to find out:
What they buy
Why they buy it
When they buy it
Where they buy it
How often they buy it and use it
Customer value
Difference between all the benefits derived from a total product and all the costs of acquiring those benefits.
Organisation must anticipate and react to customers needs faster and better than its competitors.
Consumer behaviour is product-person-situation specific
Purchase and consumption behaviour may vary from one product to another or even from one use to another for the same product.
Personal consumer
The individual who buys goods for his or her own use.
Household consumer
Individual or group of individuals that buy goods for the household or family unit.
Organisational consumer
Includes private businesses, government departments and agencies, and institutions.
Aspects of marketing strategy
Market segmentation
Basis of most marketing strategies
Involves identifying consumer groups with unique needs and/or purchasing processes, and developing specific marketing programs targeted at individual groups.
Successful marketing strategies = marketers must understanding how markets are segmented and
Consumer Behaviour and Marketing Strategy
Marketing Strategy
The combination of product, price, distribution and promotion most suited to a particular group of consumers.
Consumer Behaviour
A discipline dealing with how and why consumers purchase (or do not purchase) goods and services.
Learning to anticipate consumer behaviour is the key to planning and managing in today’s ever-changing marketing environment.
Influences on consumer behaviour (understanding)
Purchase and use behaviour
Regulatory policy – to protect consumers
Marketing strategy – to satisfy target consumer needs
Information processing and decision making
Group influences
Needs, emotions, values and personalities
Demographics and household structure
Marketing researchers need to speak to hundreds of consumers to find out:
What they buy
Why they buy it
When they buy it
Where they buy it
How often they buy it and use it
Customer value
Difference between all the benefits derived from a total product and all the costs of acquiring those benefits.
Organisation must anticipate and react to customers needs faster and better than its competitors.
Consumer behaviour is product-person-situation specific
Purchase and consumption behaviour may vary from one product to another or even from one use to another for the same product.
Personal consumer
The individual who buys goods for his or her own use.
Household consumer
Individual or group of individuals that buy goods for the household or family unit.
Organisational consumer
Includes private businesses, government departments and agencies, and institutions.
Aspects of marketing strategy
Market segmentation
Basis of most marketing strategies
Involves identifying consumer groups with unique needs and/or purchasing processes, and developing specific marketing programs targeted at individual groups.
Successful marketing strategies = marketers must understanding how markets are segmented and