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Chapter 1 Consumers Rule

Chapter 1 Consumers Rule. By Michael R. Solomon. Consumer Behavior Buying, Having, and Being. What is Consumer Behavior?. Consumer Behavior:

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Chapter 1 Consumers Rule

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  1. Chapter 1Consumers Rule By Michael R. Solomon Consumer Behavior Buying, Having, and Being

  2. What is Consumer Behavior? • Consumer Behavior: • The study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires • Role Theory: • Identifies consumers as actors on the marketplace stage • Consumer Behavior is a Process: • Exchange: A transaction in which two or more organizations give and receive something of value

  3. Some Issues That Arise During Stages in the Consumption Process Figure 1.1

  4. Consumers’ Impact onMarketing Strategy • Market Segmentation: • Identifies groups of consumers who are similar to one another in one or more ways and then devises marketing strategies that appeal to one or more groups • Demographics: • Statistics that measure observable aspects of a population • Ex.: Age, Gender, Family Structure, Social Class and Income, Race and Ethnicity, Lifestyle, and Geography

  5. A Lesson Learned • Nike was forced to pull this advertisement for a running shoe after disabilities rights groups claimed the ads were offensive. • How could Nike have done a better job of getting its message across without offending a powerful demographic?

  6. Market Segmentation Finely-tuned marketing segmentation strategies allow marketers to reach only those consumers likely to be interested in buying their products.

  7. Consumers’ Impact onMarketing Strategy (cont.) • Relationship Marketing: Building Bonds with Consumers • Relationship marketing: • The strategic perspective that stresses the long-term, human side of buyer-seller interactions • Database marketing: • Tracking consumers’ buying habits very closely, and then crafting products and messages tailored precisely to people’s wants and needs based on this information

  8. Marketing’s Impact on Consumers • Marketing and Culture: • Popular Culture: • Music, movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market.

  9. Popular Culture Companies often create product icons to develop an identity for their products. Many made-up creatures and personalities, such as Commander Safeguard etc, which are widely recognized figures in popular culture.

  10. Consumer Behavior InvolvesMany Different Actors • Consumer: • A person who identifies a need or desire, makes a purchase, and then disposes of the product • Many people may be involved in this sequence of events. • Purchaser / User / Influencer • Consumers may take the form of organizations or groups.

  11. VDO AD vdos\Commander Safeguard Complete 5 Part 1 [www[1].keepvid.com].mp4

  12. Popular Culture

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