cb new 1 (1).ppt
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Consumer Behavior
Meeting Changes &Challenges
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Learning Objectives
Understand what consumer behavior is and thediferent types o consumers.
Understand the relationship between consumerbehavior and the marketing concept, the societal
marketing concept, as well as segmentation, targeting,and positioning.
Understand the relationship between consumer
behavior and customer value, satisaction, trust andretention.
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Customers and Consumers
Those individuals who purchase or thepurpose o individual or householdconsumption are called consumers
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WHAT IS CONSUMER BEHAVIOR?WHAT IS CONSUMER BEHAVIOR?
The eld o consumer behavior covers a lot oThe eld o consumer behavior covers a lot o
ground! "t is the study o the processes involvedground! "t is the study o the processes involved
when individuals or groups select, purchase, usewhen individuals or groups select, purchase, use
or dispose o products, services, ideas oror dispose o products, services, ideas or
e#periences to satisy needs and desires.e#periences to satisy needs and desires.
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CONSUMERS IMPACT ON MARKETING
STRATEGY Consumer response is the ultimate test owhether a marketing strategy will succeed.Thus, knowledge about consumers should beincorporated into virtually every acet o asuccessul marketing plan.
$ata about consumers helps organi%ations
dene the market and identiy threats andopportunities in their own and diferentcountries that will afect consumers receptivityto the product.
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Diferent Types O C!ns"#ers
Seasonal Consumers
Personal Consumers
Organizational Consumer
Impulse Consumers
Need Based Consumers
Discount Driven Consumers Habitual Consumer
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Seasonal Consumers
These are types o consumers who purchase andconsume products on seasonal basis. 'ou wouldmost o the times not nd these types oconsumers buying the goods or service in (uestion
but rather at certain times when the need or themarises. They buy products that are season based ordemanded at certain times and not all the times.
)#amples *urchasing umbrellas during the rainy season *urchasing cold drinks during the hot seasons +oing out or holyday during the Christmas season
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Pers!n$% C!ns"#ers
These types o consumers are individualconsumers who purchase goods or the solepurpose o personal, amily or household use.
Examples
+oing to the supermarket and shopping or goodswhich are to be used in the house *urchasing a car that you intend to use personally *urchasing clothes or personal use rom a
clothing mall *urchasing a mobile phone to communicate with
people
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Organizational Consumer
rgani%ational consumers are consumers o goods andservices whose main intention is not or immediate usebut rather to use it or things like production, using themto carry out the organi%ations activities or or resale
purposes aimed at getting prots as a result.
)#ample
-n organi%ation may buy raw materials that are aimed atproducing other goods which will later be ofered or sale
to other consumers.
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Impulse Consumers
"mpulse consumers or buyers are those whomake unplanned buying decisions. "mpulsebuyers make swit buying decisions in that theyencounter products which they immediately
purchase ater they all in love with the productand its eatures. The products they purchase werenot initially in their plans but as a sort osomething that comes up all over sudden rom
somewhere and that calls or the consumer tomake an unplanned purchase.
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Need Based Consumers
eed based consumers are those typeso consumers who buy goods andservices when they need them and not
any other time. - need or a certainproduct will necessitate buying it as theconsumer would nd it tempting to buy
the product because it is neededimmediately or a certain purpose.
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Discount Driven Consumers $iscount driven consumers are types o
consumers who are purchase goods and servicesprimarily or the discounts on ofer. They may notengage in any buying activity or most o thetimes only to act when they hear or see large
discounts being ofered on products they like.They are price sensitive and they would ratherwait and purchase products when they come withdiscounts as opposed to when they have nodiscount.
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Habitual Consumer
/abitual consumers are those who nd it amust or compelling to use certain type ogoods whenever they are presented with theopportunity. "t is 0ust like a habit that theycant do without engaging in it. ).g. thecigarette smoker alls under this category oconsumers. The person would smoke at anygiven time when he1she has a cigarette. /emay also not be able to do without smokingbecause it is a habit that he has becomeaddicted to.
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Consumer Behavior
Marketing concept
The societal marketing concept
Segmentation
Targeting
Positioning
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Marketing concept
In order to be a successful, company must
determine the needs & wants of specific
target markets and deliver the desired
satisfaction better then competition
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The Societal MarketingConcept Consumers may on occasion respond to their
immediate needs or wants, 2hile overlookingwhat is in efect in their own long3run bestinterest, or in the best interest o their amily &
neighbors, the best interest o their country orregion or even in the best interest o the entire
planet. 4+ood Corporate Citi%ens
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5egmentation5egmenting means breaking up the market into smaller,homogeneous segments. 2ithin 53T3*, it is a virtual
brainstorming step whereby the business considers allpossible market segments. 5egmenting strategies includedemographics, liestyle, geographic and behaviouralapproaches. $emographics segmentation means you break upmarkets based on personal traits like age, race, marital status,gender and income. 6iestyle segmenting means you dividecustomers by hobbies and interests. +eographic segmentationmakes local, state, regional, national or international marketskey. 7ehavioural segmenting is based on such things as usagepatterns and benets sought rom the product.
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Targeting
8ollowing the brainstorming o possiblesegments in step one, the ne#t step is to pick aselect market to target or ocus on. Companiesoten ocus on one market segment at a timewith marketing and ad campaigns. 2hichevermarket is the most attractive rom a protstandpoint or long3term potential is usuallyselected rst. 8actors including si%e o the
market, growth potential and competitiveintensity impact the perceived opportunity intargeting a given market.
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Positioning
*ositioning is how the company wants thetargeted market to perceive its brand or product.5ome companies make (uality a key positioning
message and try to market their product as top(uality or the target market segment. ther(ualities commonly used to diferentiate includeservice, uni(ue eatures, environmental
riendliness, amily riendliness, saety, reliability,durability and low cost. The key is to stand outrom competitors with a uni(ue message thatappeals to the interests o the targeted market.
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Consumer Behavior
Customer 9alue
Customer 5atisaction
Customer Trust
Customer :etention
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Customer Value
Customer 9ale can be thought o as the ratio between the
customers perceived benets ;economic, unctional &psychological< and the resources ;monetary, time, efort< use to
obtain those benets.
)#amples!
=3$iner at e#clusive >asons 5take house per person :s.?,@@@ maye#pect uni(ue & delicious ood ,immaculate service & beautiul
decor.
A3$ells 9alue preposition or personal computer users consists orcustomi%ed *C 5ystems assembled speedily and sold at economicalprices.
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Customer Satisfaction
The individual consumers perception o theperormance o the product or service in relationto his or her e#pectations. " the e#pectations allbelow will be dissatised, i matches then
satised & i all above then delighted
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Levels of CustomerSatisfaction 6oyalist3B ve side 3B 5atised Customers -postles3B ve side 3B $elighted Customers $eectors3B eutral side, merely satised Consumer terrorists 3B 3ve e#perience with companies
product spread Dve word o mouth /ostages 3B Un /appy customers who are with company
due to monopolistic environment Mercenaries3B satised but dont have any loyal towards
company can deect at any point on lowing prices
ote! The companies should aim to create apostles, raisethe satisaction o deectors and turn them into loyalists,avoid having terrorist or hostages, and reduce the numbero mercenaries
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Customer Trust
Customer trust o a range o diferent consumerinormation sources reveals that word o mouthcommunications & recommendations rom other
consumers as well as consumer personale#periences
Trust is the oundation or maintaining a longstanding relationship with the customers and it
helps to increase the chances that customers willremain loyal
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Customer Retention
verall ob0ective o providing value to customerscontinuously & more efectively than thecompetition is to have and to retain highly
satised & trusting customers, and rom time totime surprising them by the element o delight totheir dealings with the company. "ts easy to retainold rather then adding new
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Customer Retention
oyal customer will pay more, less price
sensitive , pay less attention to competitors
ad campaigns, spread good word of mouth
about company!s offering to others.
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