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Transcript of Instructor:Dr. West Office Hours & Location:W 11:00 – 12:00, Fisher 544 Phone & Fax:292-0568 (O)...
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Instructor: Dr. West
Office Hours & Location:
W 11:00 – 12:00, Fisher 544
Phone & Fax: 292-0568 (O) 292-0879 (F)
E-mail: [email protected]
MKT 750Consumer Behavior
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Agenda
IntroductionsClass website: classes.osu.eduSyllabus highlightsCourse overviewAssignment
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Syllabus Highlights
Course Objective: To develop a deeper understanding of and appreciation for consumers To learn how to better serve your customers
Class materials: Consumer Behavior, 9th edition (Blackwell, Miniard, & Engel)Harvard readings packet
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Syllabus Highlights
Requirements:Individual Components Points
Participation 50 Memo & Case Write-up @ 50 points each100 Two exams @ 100 points each 200
Team Components Demographic research project 75 Advertising project 75
500
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Honor Code
What is academic misconduct? Any activity that compromises the academic integrity of the institution or subverts the educational process.
How will it be dealt with? You will be dismissed from the class. The University Committee on Academic Misconduct will be notified.
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Keys to Success
Come to class prepared Read the material in advance Keep up on assignments
Treat others professionally Show pride in your work Be respectful
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Please refrain from:
1. Coming in late2. Leaving class early3. Sidebar conversations 4. Cellular phone interruptions5. Eating food in the classroom
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Considered appropriate:
1. Be considerate of others2. Get involved and participate3. Strive to be a good teammate4. Manage your time wisely
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Course Overview
What is consumer behavior?Why study it? How does this relate to marketing?Some “essential tools”
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What is Consumer Behavior?
“Activities people undertake when obtaining, consuming, and disposing of products and services”
--- Blackwell, Miniard, & Engel 2001
The study of the cognitive, emotional, and physical activities associated with the perception, evaluation, choice, acquisition, use, and disposition of goods and services.”
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OBTAINING
How you decide you want to buyProducts you consider buyingWhere you buy How you pay for productHow you transport product home
CONSUMING
How you use productHow you store the product in your homeWho uses the product How much you consumeHow product compares with expectations
DISPOSING
How you get rid of remaining productHow much you throw away after useIf you resell items yourself or through a consignment storeHow you recycle products
PERSONAL INFLUENCES
Personality Life-stage Values Income Resources
Attitudes Opinions MotivationsFeelings Past ExperiencesKnowledge
SITUATIONAL INFLUENCES
Brand Product FeaturesAdvertising DisplayPromotions Price Quality
Store AmbianceService Convenience Product Loyalty ProgramsPackaging Goals Assortment
InvolvementAvailability
Consumer Behavior
SOCIAL INFLUENCES
Justification Word of MouthCulture EthnicityFamily Peer Groups
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What is Consumer Behavior?
An interdisciplinary field
Social Psychology
CognitivePsychology
Anthropology
Sociology
Economics
Physiology
Biology Computer Science
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Why Study Consumer Behavior?
The Marketing Concept:Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create more satisfying exchanges than the competition.
Corollary:Success in the marketplace requires attracting, satisfying, and retaining customers.
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Why Study Consumer Behavior?
No brand/product can appeal to all people.
Firms must segment the market into groups with relatively homogeneous preferences and target one or more groups.Firms must position their offerings in the hearts and minds of these individuals in a favorable way.
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Why Study Consumer Behavior?
Our guesses about people are inaccurate.
This is because human nature leads us to believe that other people think like us
false consensusPeople tend to perceive differences even when they don’t exist
stereotyping
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Why Study Consumer Behavior?
Therefore, we must strive to…Identify customer needs and wants
Engage in researchUnderstand how customers will respond to different messages and environments
Learn about and apply theoriesAnticipate where preferences are headed
Staying informed
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Connections to Marketing
Segmentation & TargetingCustomer Acquisition & RetentionBuilding Loyalty
Positioning & RepositioningNew Products and Shaping Consumer PreferencesCustomer-based Brand Equity
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Connections to Marketing
Communicating with your customers
Influence & PersuasionGenerating “buzz”
Pricing your productFramingValue Pricing
Building “community”Added value through social interaction with like-minded individuals
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Essential Tools:
Consumer Decision Making
Demographics / Trends
Family Life Cycle
Information Processing
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Consumer Decision Making
ChoiceAlternativeEvaluation
SearchNeed
RecognitionPost-Purchase
Evaluation
Consumer-side
Marketer-side
Action Desire Interest Awareness
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Consumer Decision Making
First-time versus Repeat purchase?
Rational versus Emotional purchase?
Functional versus Ego-expressive?
Level of Involvement?
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Essential Tools:
Consumer Decision Making
Demographics / Trends
Family Life Cycle
Information Processing
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Demographic Trends:
Aging population
Cultural Diversity & Globalization
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Lifestyle Trends:
Staying connected Cellular phonesInstant messaging
Health & Fitness AtkinsWater
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Essential Tools:
Consumer Decision Making
Demographics / Trends
Family Life Cycle
Information Processing
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Family Life Cycle
Single Newly Full Empty Married Nest
Nest
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Essential Tools:
Consumer Decision Making
Demographics / Trends
Family Life Cycle
Information Processing
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Consumer Information Processing
Stimuli Exposure
Attention
Comprehension
Acceptance
Retention Purchase
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Assignment
Carefully read the syllabus! There will be a “quiz” on Thursday
Chapters 1 & 2 of the textbook