Professional Documents
Culture Documents
CONSUMER
BEHAVIOR AND
MARKETING
STRATEGY
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1-5
Source: D. Kiley, “Sexy or Sensible?” Business Week, January 16, 2006, p. 60-61.
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1
Consumer Behavior In The News…
Segmenting the Automobile Market
¾ J.D. Powers Examined Car
Car--Buyer Segments.
¾ Can You Predict the Market for Each Brand?
¾ Honda
H d CiCivic
i – “teenage
“t tterror””
¾ Honda Accord – “recent MBA grad”
¾ Toyota Sienna Mini Van – “suburban mom”
¾ Cadillac STS – “mid
“mid--career executive”
¾ Lexus LS 430 – “titan of industry”
Source: D. Kiley, “Sexy or Sensible?” Business Week, January 16, 2006, p. 60-61.
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1. Marketing Strategy
2 Regulatory
2. R l t Policy
P li
3. Social Marketing
4. Informed Individuals
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2
Marketing Strategy and Consumer Behavior
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Market Segmentation
Market segmentation
is a portion of a larger
market whose needs
differ from the larger
market.
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Market Segmentation
2 Grouping
2. G i C Customers
t with
ith Si
Similar
il N Need
dSSets
t
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3
Marketing Strategy
¾ Marketing Strategy is the answer to the question:
How will we provide superior customer value to our
target market?
¾ This requires the formulation of a consistent
marketing mix,
mix which includes the
1. Product
2. Price
3. Communications
4. Distribution
Distribution, and
5. Services
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Consumer Decisions
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Outcomes
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4
The Nature of Consumer Behavior
Overall Conceptual Model of Consumer Behavior
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External Influences
The following are the major external
influences:
• Culture
C lt
• Demographics and social stratification
• Ethnic, religious, and regional subcultures
• Families and households
• Groups
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Internal Influences
Internal influences include:
• Perception
• Learning
• Memory
• Motives
• Personality
•Emotions
•Attitudes
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5
The Nature of Consumer Behavior
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