Consumer Behavior and marketing

Consumer Behavior and marketing

1. importance

   • To help managers develop better theories and make better decisions

2. it implicates

   • Decision Processes
     • It includes that the consumer behave as if they were examining all relevant attributes
     • the components are
       • Heuristics for choice
         • Are based on comparisons of the alternatives, such as the lexicographic and additive differences heuristics
       • Mental Accounting
         • This simplifies the consumer's task, it is not without its costs
       • Reference Dependence and Loss Aversion
         • The decrease in consumption caused by the price increase should be twice the size of increase in consumption caused by a price decreas. Were useful in explaining the effect of price in consumer choice
       • Context Effects
         • It occurs when adding alternatives to a choice set changes what is chosen, even when the added option seems largely irrelevant
       • Task Effects
         • It refers to the way in which the consumer must make these choices

3. Values

   • Include
     • Inference
       • Category inference
         • It can lead us astray, when for example, marketers add features that differentiate a product performance but changes the ways products are categorized
         • Brand inference
           • How consumers think about brands
         • Brand personality
           • How brans personalities might differ across cultures
         • Brand extensions
           • When a known brand introduces a new product class. The managers can reduce the cost
     • Memory
       • The ideas that consumer knoledge is organized mostly brands

4. Persuasion

   • There seems to be a natural application of ideas from attitude research to advertising in the area actively adapts paradigmds and concepts from social psychology
   • It implies
     • Kind of messages

5. Affects

   • It reflects the fact that marketing and consumption stimuli
   • Types
     • Integral affect
     • Affect based judgments are differet
     • Incidental affect
     • Task-related affect

6. Implicit processes

   • They are
     • Priming
     • Mere Meassurement
     • Theoretical and empirical issues