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Consumer Behavior:
Meeting Changes and
Challenges
CHAPTER
ONE
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.
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2
Chapter One Slide
Learning Objectives (continued)
5. To Understand How Marketers Are Increasingly
Able to Reach Consumers Wherever Consumers
Wish to Be Reached.
6. To Understand How the World’s Economic
Condition Is Leading to Consumption Instability
and Change.
7. To Understand the Makeup and Composition of
a Model of Consumer Behavior.
8. To Understand the Structure of This Book
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 3
Chapter One Slide
To Which Segment of
Consumers Will This Ad Appeal?
Chapter One Slide 4
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
A Segment of Consumers Who are
Environmentally Concerned
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 5
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.
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 6
Chapter One Slide
Two Consumer Entities
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 7
Chapter One Slide
Development of the
Marketing Concept
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 8
Chapter One Slide
Production Orientation
• From the 1850s to the late 1920s
• Companies focus on production capabilities
• Consumer demand exceeded supply
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 9
Chapter One Slide
Sales Orientation
• From the 1930s to the mid 1950s
• Focus on selling
• Supply exceeded customer demand
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 10
Chapter One Slide
Marketing Concept
• 1950s to current - Focus on the customer!
• Determine the needs and wants of specific
target markets
• Deliver satisfaction better than competition
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 11
Chapter One Slide
Discussion Questions
1. What two companies do
you believe grasp and use
the marketing concept?
2. Why do you believe this?
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 12
Societal Marketing Concept
• Considers consumers’
long-run best interest
• Good corporate
citizenship
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 13
The Marketing Concept
• Consumer Research
• Segmentation
• Market Targeting
• Positioning
• The process and tools
used to study consumer
behavior
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Embracing the Marketing
Concept
Chapter One Slide 14
The Marketing Concept
• Consumer Research
• Segmentation
• Market Targeting
• Positioning
• Process of dividing the
market into subsets of
consumers with
common needs or
characteristics
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Implementing the
Marketing Concept
Chapter One Slide 15
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?
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 16
Chapter One Slide
The Marketing Concept
• Consumer Research
• Segmentation
• Market Targeting
• Positioning
The selection of one or
more of the segments
identified to pursue
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Implementing the
Marketing Concept
Chapter One Slide 17
The Marketing Concept
• Consumer Research
• Segmentation
• Market Targeting
• Positioning
• Developing a distinct image for
the product in the mind of the
consumer
• Successful positioning includes:
– Communicating the benefits
of the product
– Communicating a unique
selling proposition
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Implementing the
Marketing Concept
Chapter One Slide 18
The Marketing Mix
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 19
Chapter One Slide
Customer Value, Satisfaction, Trust,
and Retention
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 20
Chapter One Slide
Successful Relationships
• Customer Value
• Customer
Satisfaction
• Customer Trust
• Customer
Retention
• Defined as the ratio
between the customer’s
perceived benefits and the
resources used to obtain
those benefits
• Perceived value is relative
and subjective
• Developing a value
proposition is critical
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Value, Satisfaction,
Trust, and Retention
Chapter One Slide 21
Discussion Questions
• How does McDonald’s
create value for the
consumer?
• How do they
communicate this
value?
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 22
Chapter One Slide
Successful Relationships
• 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
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Value, Satisfaction,
Trust, and Retention
Chapter One Slide 23
Successful Relationships
• Customer Value
• Customer
Satisfaction
• Customer Trust
• Customer
Retention
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
• Establishing and
maintaining trust is
essential.
• Trust is the
foundation for
maintaining a long-
standing relationship
with customers.
Value, Satisfaction,
Trust, and Retention
Chapter One Slide 24
Successful Relationships
• 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
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Value, Satisfaction,
Trust, and Retention
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
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 26
Customer Profitability-Focused
Marketing
• Tracks costs and
revenues of
individual consumers
• Categorizes them
into tiers based on
consumption
behavior
• A customer pyramid
groups customers
into four tiers
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 27
Chapter One Slide
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Chapter One Slide 28
THE TRADITIONAL MARKETING CONCEPT VALUE- AND RETENTION-FOCUSED
MARKETING
Make only what you can sell instead of trying
to sell what you make.
Use technology that enables customers to
customize what you make.
Do not focus on the product; focus on the
need that it satisfies.
Focus on the product’s perceived value, as well
as the need that it satisfies.
Market products and services that match
customers’ needs better than competitors’
offerings.
Utilize an understanding of customer needs to
develop offerings that customers perceive as
more valuable than competitors’ offerings.
Research consumer needs and characteristics. Research the levels of profit associated with
various consumer needs and characteristics.
Understand the purchase behavior process
and the influences on consumer behavior.
Understand consumer behavior in relation to
the company’s product.
Realize that each customer transaction is a
discrete sale.
Make each customer transaction part of an
ongoing relationship with the customer.
Impact of Digital Technologies
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 29
Chapter One Slide
The Mobile Consumer
• Wireless Media
Messages will
expand as:
– Flat-rate data
traffic increases
– Screen image
quality is enhanced
– Consumer-user
experiences with
web applications
improve
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 30
Chapter One Slide
Penetration of Internet Usage Among Mobile
Subscribers in 16 Countries - FIGURE 1.3
Consumer Behavior Is
Interdisciplinary
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 31
Chapter One Slide
A Simple Model of Consumer Decision Making - Figure 1.4
Chapter One Slide 32
Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
All rights reserved. No part of this publication may be reproduced, stored in a
retrieval system, or transmitted, in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the prior written
permission of the publisher. Printed in the United States of America.
Copyright © 2010 Pearson Education, Inc. Publishing as
Prentice Hall
33
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Slide

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schiffmancb10ppt01-121026210723-phpapp01.pdf

  • 1. Consumer Behavior: Meeting Changes and Challenges CHAPTER ONE
  • 2. 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. Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2 Chapter One Slide
  • 3. Learning Objectives (continued) 5. To Understand How Marketers Are Increasingly Able to Reach Consumers Wherever Consumers Wish to Be Reached. 6. To Understand How the World’s Economic Condition Is Leading to Consumption Instability and Change. 7. To Understand the Makeup and Composition of a Model of Consumer Behavior. 8. To Understand the Structure of This Book Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 3 Chapter One Slide
  • 4. To Which Segment of Consumers Will This Ad Appeal? Chapter One Slide 4 Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
  • 5. A Segment of Consumers Who are Environmentally Concerned Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 5
  • 6. 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. Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 6 Chapter One Slide
  • 7. Two Consumer Entities Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 7 Chapter One Slide
  • 8. Development of the Marketing Concept Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 8 Chapter One Slide
  • 9. Production Orientation • From the 1850s to the late 1920s • Companies focus on production capabilities • Consumer demand exceeded supply Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 9 Chapter One Slide
  • 10. Sales Orientation • From the 1930s to the mid 1950s • Focus on selling • Supply exceeded customer demand Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 10 Chapter One Slide
  • 11. Marketing Concept • 1950s to current - Focus on the customer! • Determine the needs and wants of specific target markets • Deliver satisfaction better than competition Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 11 Chapter One Slide
  • 12. Discussion Questions 1. What two companies do you believe grasp and use the marketing concept? 2. Why do you believe this? Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 12
  • 13. Societal Marketing Concept • Considers consumers’ long-run best interest • Good corporate citizenship Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 13
  • 14. The Marketing Concept • Consumer Research • Segmentation • Market Targeting • Positioning • The process and tools used to study consumer behavior Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Embracing the Marketing Concept Chapter One Slide 14
  • 15. The Marketing Concept • Consumer Research • Segmentation • Market Targeting • Positioning • Process of dividing the market into subsets of consumers with common needs or characteristics Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Implementing the Marketing Concept Chapter One Slide 15
  • 16. 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? Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 16 Chapter One Slide
  • 17. The Marketing Concept • Consumer Research • Segmentation • Market Targeting • Positioning The selection of one or more of the segments identified to pursue Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Implementing the Marketing Concept Chapter One Slide 17
  • 18. The Marketing Concept • Consumer Research • Segmentation • Market Targeting • Positioning • Developing a distinct image for the product in the mind of the consumer • Successful positioning includes: – Communicating the benefits of the product – Communicating a unique selling proposition Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Implementing the Marketing Concept Chapter One Slide 18
  • 19. The Marketing Mix Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 19 Chapter One Slide
  • 20. Customer Value, Satisfaction, Trust, and Retention Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 20 Chapter One Slide
  • 21. Successful Relationships • Customer Value • Customer Satisfaction • Customer Trust • Customer Retention • Defined as the ratio between the customer’s perceived benefits and the resources used to obtain those benefits • Perceived value is relative and subjective • Developing a value proposition is critical Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Value, Satisfaction, Trust, and Retention Chapter One Slide 21
  • 22. Discussion Questions • How does McDonald’s create value for the consumer? • How do they communicate this value? Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 22 Chapter One Slide
  • 23. Successful Relationships • 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 Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Value, Satisfaction, Trust, and Retention Chapter One Slide 23
  • 24. Successful Relationships • Customer Value • Customer Satisfaction • Customer Trust • Customer Retention Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall • Establishing and maintaining trust is essential. • Trust is the foundation for maintaining a long- standing relationship with customers. Value, Satisfaction, Trust, and Retention Chapter One Slide 24
  • 25. Successful Relationships • 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 Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Value, Satisfaction, Trust, and Retention Chapter One Slide 25
  • 26. 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 Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 26
  • 27. Customer Profitability-Focused Marketing • Tracks costs and revenues of individual consumers • Categorizes them into tiers based on consumption behavior • A customer pyramid groups customers into four tiers Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 27 Chapter One Slide
  • 28. Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall Chapter One Slide 28 THE TRADITIONAL MARKETING CONCEPT VALUE- AND RETENTION-FOCUSED MARKETING Make only what you can sell instead of trying to sell what you make. Use technology that enables customers to customize what you make. Do not focus on the product; focus on the need that it satisfies. Focus on the product’s perceived value, as well as the need that it satisfies. Market products and services that match customers’ needs better than competitors’ offerings. Utilize an understanding of customer needs to develop offerings that customers perceive as more valuable than competitors’ offerings. Research consumer needs and characteristics. Research the levels of profit associated with various consumer needs and characteristics. Understand the purchase behavior process and the influences on consumer behavior. Understand consumer behavior in relation to the company’s product. Realize that each customer transaction is a discrete sale. Make each customer transaction part of an ongoing relationship with the customer.
  • 29. Impact of Digital Technologies Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 29 Chapter One Slide
  • 30. The Mobile Consumer • Wireless Media Messages will expand as: – Flat-rate data traffic increases – Screen image quality is enhanced – Consumer-user experiences with web applications improve Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 30 Chapter One Slide Penetration of Internet Usage Among Mobile Subscribers in 16 Countries - FIGURE 1.3
  • 31. Consumer Behavior Is Interdisciplinary Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 31 Chapter One Slide
  • 32. A Simple Model of Consumer Decision Making - Figure 1.4 Chapter One Slide 32 Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
  • 33. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 33 Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Slide