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Consumer Behavior 1

The document discusses key concepts in marketing and consumer behavior, including the marketing concept, production concept, product concept, selling concept, consumer research, market segmentation/targeting/positioning, marketing mix, socially responsible marketing, and how technology enriches the exchange between consumers and marketers. It maintains that satisfying consumer needs, creating value, and retaining customers are essential to marketing. It also discusses how market research links consumers and marketers to identify opportunities and evaluate strategies.

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Marriiam Ali
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52 views

Consumer Behavior 1

The document discusses key concepts in marketing and consumer behavior, including the marketing concept, production concept, product concept, selling concept, consumer research, market segmentation/targeting/positioning, marketing mix, socially responsible marketing, and how technology enriches the exchange between consumers and marketers. It maintains that satisfying consumer needs, creating value, and retaining customers are essential to marketing. It also discusses how market research links consumers and marketers to identify opportunities and evaluate strategies.

Uploaded by

Marriiam Ali
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Technology-Driven

Consumer Behavior
Chapter 1
The Marketing Concept
Marketing and consumer behavior stem from the marketing concept, which maintains that
the essence of marketing consists of satisfying consumers’ needs, creating value, and
retaining customers.
The production concept,
• a business approach conceived by Henry Ford, maintains that consumers are mostly
interested in product availability at low prices; its implicit marketing objectives are cheap,
efficient production and intensive distribution.

Product concept
• which assumes that consumers will buy the product that offers them the highest quality, the
best performance, and the most features. A product orientation leads the company to strive
constantly to improve the quality of its product and to add new features if they are
technically feasible, without finding out first whether consumers really want these features.
• A product orientation often leads to marketing myopia, that is, a focus on the product rather
than on the needs it presumes to satisfy
The Marketing Concept
• Evolving from the production concept and the product concept, the
selling concept maintains that marketers’ primary focus is selling the
products that they have decided to produce.
• The assumption of the selling concept is that consumers are unlikely
to buy the product unless they are aggressively persuaded to do so—
mostly through the “hard sell” approach.
• This approach does not consider customer satisfaction, because
consumers who are aggressively induced to buy products they do not
want or need, or products of low quality, will not buy them again.
Consumer Research
• The term consumer research refers to the process and tools used to
study consumer behavior.
• Consumer research is a form of market research, a process that links
the consumer, customer, and public to the marketer through
information in order to identify marketing opportunities and
problems, evaluate marketing actions, and judge the performance of
marketing strategies.
Market Segmentation, Targeting, and Positioning

• Market segmentation is the process of dividing a market into subsets


of consumers with common needs or characteristics. It consists of
defining or identifying groups with shared needs that are different
from those shared by other groups.
• Targeting means selecting the segments that the company views as
prospective customers and pursuing them.
• Positioning is the process by which a company creates a distinct
image and identity for its products, services, and brands in
consumers’ minds.
The Marketing Mix
The marketing mix (four Ps) consists of four elements:
• 1. Product or service: The features, designs, brands, and packaging
offered, along with post purchase benefits such as warranties and
return policies.
• 2. Price: The list price, including discounts, allowances, and payment
methods.
• 3. Place: The distribution of the product or service through stores and
other outlets.
• 4. Promotion: The advertising, sales promotion, public relations, and
sales efforts designed to build awareness of and demand for the
product or service.
Socially Responsible Marketing
• The societal marketing concept requires marketers to fulfill the needs
of the target audience in ways that improve, preserve, and enhance
society’s well-being while simultaneously meeting their business
objectives.
• The societal marketing concept maintains that companies would be
better off in a stronger, healthier society and that marketers that
incorporate ethical behavior and social responsibility attract and
maintain loyal consumer support over the long term
Technology Enriches the Exchange Between Consumers and
Marketers

• Consumers Have Embraced Technology

• Behavioral Information and Targeting

• Customizing Products and Promotional Messages

• Better Prices and Distribution

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