Week 2: Consumer Behaviour & Market Analysis

Week 2: Consumer Behaviour & Market Analysis

1. VAC - main aspects

   • Value creation
     • EFES - consumer values
       • Economic
       • Functional
       • Experiental
       • Social
   • Consumer decision making process
     • NIEP - process
       • Need recognitoon
         • Deprivation
         • Context
         • Product
         • Direct highlighting
       • Information search
         • Consideration set formation
           • Limited memory
             • Need = brand
           • Stimulus-based
             • Needs/goals influence notice
         • Perception
           • Selective retention
           • Selective distortion
           • Selective attention
           • Basic perception
       • Evaluation & choice/purchase
         • Post-choice evaluation
           • Customer loyalty loop
           • CC
             • SBU's
               • Underinvestment (CC)
                 • Resources imprisoned
                 • Bounded innovation
             • Assesment CC
               • Access range
               • Important contribution
               • Imitation/replication
               • Distributed
         • Traditional multi-atrribute model
           • Gold standard
             • Weigh belief --> choose highest score
         • Compromise effect
           • Middle option
   • Attitudes & perception