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Chapter 1

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hdsinh
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CONSUMER BEHAVIOR

& MARKETING
STRATEGY
DR. HOÀNG ĐỨC SINH
LEARNING OBJECTIVE

1. Define consumer behavior


2. Summarize the applications of consumer behavior
3. Explain how consumer behavior can be used to develop marketing
stragety
4. Explain the components that constitute a conceptual model of
consumer behavior
5. Discuss issues involving consumption meanings and firm attempts
to influencing them
1. CONSUMER BEHAVIOR

Consumer behavior is the


study of individuals, groups,
or organizations and the
processes they use to select,
secure, use, and dispose of
products, services,
experiences, or ideas to
satisfy needs and the impacts
that these processes have on
the consumer and society.
Consumer behavior is a complex, multidimensional process
- Psychology dimension:
Perception, motivation,
attitude
- Social dimension:
culture, social norms,
reference groups
- Economics dimension:
Price, Income,
Economics conditions
- Decision making
process
- External influences: 4P
Successful marketing decisions by firms, nonprofit organizations, and
regulatory agencies require an understanding of the processes underlying
consumer behavior

Theory of Planned Behavior


Successful marketing decisions require
organizations to collect information
about the specific consumers involved in
the marketing decision at hand.
- Why is consumer information
important?
- What type of consumer information
should we collect?
- What are methods of collecting
consumer information?
Marketing practices designed to influence consumer behavior involve
ethical issues that affect the firm, the individual, and society.

What do you
know about
Greenwashing?
2. APPLICATIONS OF CONSUMER BEHAVIOR

Marketing strategy
Regulatory Policy
Social marketing
Informed Individuals
MARKETING STRATEGY
REGULATORY POLICY

Various regulatory bodies exist to develop, interpret, and/or


implement policies designed to protect and aid consumers
SOCIAL MARKETING

Social marketing is the application of marketing strategies


and tactics to alter or create behaviors that have a positive
effect on the targeted individuals or society as a whole
INFORMED INDIVIDUALS

It is important that consumers accurately understand the


strategies and tactics being used so they can be more
effective consumers
CUSTOMER VALUE

Customer value is
the difference between
all the benefits derived
from a total product
and all the costs of
acquiring those
benefits
Total product: entire
set of characteristics
MARKET ANALYSIS COMPONENTS

• The Consumers
• The Company
• The Competitors
• The Conditions
MARKET SEGMENTATION

A market segment is a portion of a larger market whose


needs differ somewhat from the larger market
1. Identifying product-related need sets.
2. Grouping customers with similar need sets.
3. Describing each group.
4. Selecting an attractive segment(s) to serve
CASE STUDY: COCA-COLA’S “SHARE A COKE” CAMPAIGN
MARKETING STRATEGY

• How will we provide superior customer value to our target


market?
• The marketing mix is the product, price, communications,
distribution, and services provided to the target market
PRODUCT

• A product is anything a consumer acquires or might acquire to meet a


perceived need
• We use the term product to refer to physical products and primary or
core services.
COMMUNICATIONS

Marketing
communications include
advertising, the sales
force, public relations,
packaging, and any other
signal that the firm
provides about itself and
its product
PRICE

Price is the amount of money one must pay to obtain the


right to use the product
Consumer cost is everything the consumer must surrender
in order to receive the benefits of owning/using the product.
-> It is important to note that the price of a product is not
the same as the cost of the product to the customer
DISTRIBUTION

Distribution, having the product available where target


customers can buy it, is essential to success
SERVICE

Service refers to auxiliary or peripheral activities that are


performed to enhance the primary product or primary service
CONSUMER DECISION

• The consumer decision process intervenes between the


marketing strategy, as implemented in the marketing mix,
and the outcomes.
• The firm can succeed only if consumers see a need that its
product can solve, become aware of the product and its
capabilities, decide that it is the best available solution,
proceed to buy it, and become satisfied with the result of
the purchase.
OUTCOMES

• Firm outcomes
• Individual outcomes
• Society outcomes
OUTCOMES

Creating satisfied customers


THE NATURE OF CONSUMER BEHAVIOR
EXTERNAL INFLUENCES

• Culture
• Demographic and social stratification
• Ethnic, religious, and regional subcultures
• Families and households
• Groups
INTERNAL INFLUENCES

• Perception
• Learning
• Memory
• Motives
• Personality
• Emotions
• Attitudes
SELF CONCEPT AND LIFESTYLE

• Self concept is the


totality of an
individual’s thoughts
and feeling about
oneself
• Lifestyle is how one
lives, including the
products one buys,
how one uses them,
what one thinks
about them, and how
SITUATIONS AND CONSUMER DECISIONS
• Consumer
decisions result
from perceived
problems and
opportunities
• Consumer
problems arises
in specific
situations and
the nature of
situation
influencing the
DISCUSSION QUESTIONS

Why would someone shop on the Internet? Buy an


Iphone?
a. Why would someone else not make those purchases?
b. How would you choose one outlet, brand, or model
over the others? Would others make the same choice in
the same way?
DISCUSSION QUESTIONS

Describe your lifestyle. How does it differ from your parents’


lifestyle?
Do you anticipate any changes in your lifestyle in the next
five years? What will cause these changes? What new
products or brands will you consume because of these
changes?
DISCUSSION QUESTIONS

Describe a recent purchase you made. To what


extent did you follow the consumer decision-making
process described in this chapter? How would you
explain any differences?

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