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    Consumer Behavior and Marketing Strategy: Hawkins 13 Ed

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    Princess
    This document provides an overview of key concepts in consumer behavior and marketing strategy. It defines consumer behavior as the process through which consumers make purchase decisions. It distinguishes between personal consumers, who buy for individual use, and organizational consumers, who buy for business use. It also discusses customer value, satisfaction, retention, segmentation, targeting, positioning, and factors that influence customer satisfaction. The overall purpose is to introduce fundamental principles for understanding consumers and developing effective marketing strategies.

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    Consumer Behavior and Marketing Strategy: Hawkins 13 Ed

    Uploaded by

    Princess
    144 views20 pages
    This document provides an overview of key concepts in consumer behavior and marketing strategy. It defines consumer behavior as the process through which consumers make purchase decisions. It distinguishes between personal consumers, who buy for individual use, and organizational consumers, who buy for business use. It also discusses customer value, satisfaction, retention, segmentation, targeting, positioning, and factors that influence customer satisfaction. The overall purpose is to introduce fundamental principles for understanding consumers and developing effective marketing strategies.

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    Buyer Behavior, work on Hawkins Chapter 1

    Original Title

    Cpt1 Hawkins

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    This document provides an overview of key concepts in consumer behavior and marketing strategy. It defines consumer behavior as the process through which consumers make purchase decisions. It distinguishes between personal consumers, who buy for individual use, and organizational consumers, who buy for business use. It also discusses customer value, satisfaction, retention, segmentation, targeting, positioning, and factors that influence customer satisfaction. The overall purpose is to introduce fundamental principles for understanding consumers and developing effective marketing strategies.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    144 views20 pages

    Consumer Behavior and Marketing Strategy: Hawkins 13 Ed

    Uploaded by

    Princess
    This document provides an overview of key concepts in consumer behavior and marketing strategy. It defines consumer behavior as the process through which consumers make purchase decisions. It distinguishes between personal consumers, who buy for individual use, and organizational consumers, who buy for business use. It also discusses customer value, satisfaction, retention, segmentation, targeting, positioning, and factors that influence customer satisfaction. The overall purpose is to introduce fundamental principles for understanding consumers and developing effective marketing strategies.

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    Chapter 1

    Consumer Behavior and


    Marketing Strategy

    HAWKINS 13TH ed.


    Consumer Behavior

    The behavior that consumers display in


    searching for, purchasing, using,
    evaluating, and disposing of
    products and services
    that they expect will
    satisfy their needs

    2
    Customer Vs Consumer
    Behavior
    • Customer Behavior: a broad term that
    covers both individual consumers who buy
    goods and services for their own use and
    organizational buyers who purchase business
    products

    • Consumer Behavior: the process through


    which the ultimate buyer makes purchase
    decisions. The influence of those who use the
    goods or services

    4
    Personal Consumer
    The individual who buys goods and
    services for his or her own use, for
    household use, for the use of a family
    member, or for a friend.

    5
    Organizational Consumer
    A business, government agency, or other
    institution (profit or nonprofit) that buys
    the goods, services, and/or equipment
    necessary for the organization to function.

    6
    Customer Value Analysis

    Value, Satisfaction, and Retention


    • Defined as the ratio between the
    • Customer Value
    customer’s perceived benefits
    • Customer (economic, functional and
    Satisfaction psychological) and the resources
    • Customer used (monetary, time, effort
    Retention and psychological) to obtain
    those benefits
    • Perceived value is relative and
    subjective

    7
    Marketing Strategy and Consumer Behavior

    Customer Value
    Marketing Strategy and Consumer Behavior

    This entire set of characteristics is of referred to as the


    total product.
    Segmentation
    Market segment is a portion of a larger market
    whose needs differ somewhat from the larger
    market.
    Market segmentation involves four steps:
     Identifying product-related need sets.
     Grouping customers with similar need sets.
     Describing each group.
     Selecting an attractive segment(s) to serve.

    10
    The next step is to group consumers with similar need sets.
    For example, the need for moderately priced, fun, sporty
    automobiles appears to exist in many young single individuals,
    young couples with no children, and middle-aged couples
    whose children have left home. Consumer Insight 1–1 provides
    an additional example of “clustering” or grouping consumers
    with similar need sets
    Once consumers with similar need sets are identified, group
    should be described in terms of their demographics,
    lifestyles, and media usage. Designing an effective marketing
    program requires having a complete understanding of the
    potential customers.
    Select our Target Market: the segment(s) of the larger
    market on which we will focus our marketing effort. This
    decision is based on our ability to provide the selected
    segment(s) with superior customer value at a profit.
     Size
     Growth of the segment
     Intensity of the current and anticipated competition
     Cost of providing the superior value
    FIRMS OUTCOME
    Product Positioning: an image of the product or
    brand in the consumer’s mind relative to competing
    products and brands. This image consists of a set of
    beliefs, pictorial representations, and feelings about
    the product or brand.
    • The individual's perception of the
    performance of the product or
    service in relation to his or her
    Customer expectations.

    Satisfaction Satisfaction=ƒ Expectations


    • Customers identified based on
    loyalty include loyalists, apostles
    (Whose experience exceed their
    expectations), defectors (Merely satisfied),
    terrorists (Negative word of mouth),
    hostages (Costly due to frequent
    complaints), and mercenaries (No real
    loyalty, usually impulse buyer)

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