Professional Documents
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Learning Objectives
1. To Understand What Consumer Behavior Is and the Different Types of Consumers. 2. To Understand the Relationship Between Consumer Behavior and the Marketing Concept, the Societal Marketing Concept, as Well as Segmentation, Targeting, and Positioning. 3. To Understand the Relationship Between Consumer Behavior and Customer Value, Satisfaction, Trust, and Retention. 4. To Understand How New Technologies Are Enabling Marketers to Better Satisfy the Needs and Wants of Consumers.
Chapter One Slide 2
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.
Production Orientation
Sales Orientation
Marketing Concept
Production Orientation
From the 1850s to the late 1920s Companies focus on production capabilities Consumer demand exceeded supply
Production Orientation Sales Orientation Marketing Concept
Sales Orientation
From the 1930s to the mid 1950s Focus on selling Supply exceeded customer demand
Production Orientation Sales Orientation Marketing Concept
Marketing Concept
1950s to current - Focus on the customer! Determine the needs and wants of specific target markets Deliver satisfaction better than competition
Production Orientation Sales Orientation Marketing Concept
Discussion Questions
1. What two companies do you believe grasp and use the marketing concept? 2. Why do you believe this?
Discussion Questions
1. What products that you regularly purchase are highly segmented? 2. What are the different segments? 3. Why is segmentation useful to the marketer for these products?
Price
Place
Promotion
Chapter One Slide 19
Successful Relationships
Customer value High level of customer satisfaction Strong sense of customer trust Customer retention
Successful Relationships
Value, Satisfaction, Defined as the ratio between Trust, and Retention the customers perceived
Customer Value Customer Satisfaction Customer Trust Customer Retention benefits and the resources used to obtain those benefits Perceived value is relative and subjective Developing a value proposition is critical
Chapter One Slide 21
Discussion Questions
How does McDonalds create value for the consumer? How do they communicate this value?
Successful Relationships
Value, Satisfaction, Trust, and Retention
Customer Value Customer Satisfaction Customer Trust Customer Retention The individual's perception of the performance of the product or service in relation to his or her expectations. Customer groups based on loyalty include loyalists, apostles, defectors, terrorists, hostages, and mercenaries Chapter One Slide 23
Successful Relationships
Value, Satisfaction, Trust, and Retention
Customer Value Customer Satisfaction Customer Trust Customer Retention
Establishing and maintaining trust is essential. Trust is the foundation for maintaining a longstanding relationship with customers.
Chapter One Slide 24
Successful Relationships
Value, Satisfaction, Trust, and Retention
Customer Value Customer Satisfaction Customer Trust Customer Retention The objective of providing value is to retain highly satisfied customers. Loyal customers are key They buy more products They are less price sensitive Servicing them is cheaper They spread positive word of mouth
Chapter One Slide 25
Top 10 Ranked U.S. Companies in Terms of Consumers Trust and Respect of Privacy Table 1.2
Top 10 Companies
American Express eBay IBM Amazon Johnson & Johnson Hewlett-Packard U.S. Postal Service Procter and Gamble Apple Nationwide
Chapter One Slide 26
Understand the purchase behavior process and Understand consumer behavior in relation to the influences on consumer behavior. the companys product. Realize that each customer transaction is a discrete sale. Make each customer transaction part of an ongoing relationship with the customer.
Chapter One Slide 28
More products and services through customization Instantaneous exchanges Collect and analyze data
Economics
Sociology
Anthropology
Social psychology