Consumer Behavior and Marketing Strategy chapter 1

Consumer Behavior and Marketing Strategy chapter 1

1. APPLICATIONS OF CONSUMER BEHAVIOR

   • Marketing Strategy
     • Marketing decisions based on the explicit theory of consumer behavior
     • create a competitive advantage. An accurate understanding of consumer behavior can greatly greatly reduce the likelihood of failure.
   • Regulatory Policy
     • regulatory bodies that develop, interpret and/or enforce policies policies designed to protect and assist and assist consumers
   • Social Marketing
     • implementation of marketing strategies and marketing strategies and tactics to modify or create behaviors that have a positive positive effect on the targeted individuals individuals or on society as a whole. society as a whole.
       • CARRILLO CEBALLOS FABIAN ALBERTO - 2RV5

2. MARKETING STRATEGY AND CONSUMER BEHAVIOR

   • The Consumers
     • customer needs without a thorough understanding of competitors' capabilities and strategies.
   • The Company
     • A company must fully understand its own ability to meet the customer's needs.
   • The Competitors
     • To know the consumer, it is necessary to understand the behavioral principles that guide consumer behaviors.
   • The Conditions
     • The state of the economy, the physical environment, government regulations and technological developments affect consumer needs and expectations. nological developments affect consumers' needs and expectations.

3. MARKET ANALYSIS COMPONENTS

   • The applications of consumer behavior involve the development, regulation and effects of marketing strategy

4. MARKET SEGMENTATION

   • 1. Identifying product-related need sets.
   • 2. Grouping customers with similar need sets.
   • 3. Describing each group.
   • 4. Selecting an attractive segment(s) to serve.

5. MARKETING STRATEGY

   • The Product
     • is anything that a consumer acquires or could acquire to satisfy a perceived need
   • Communications
     • include advertising, the sales force, public relations, pack- aging, and any other signal that the firm provides about itself and its products
   • Price
     • is the amount of money to be paid to obtain the right to use the product
   • Distribution
     • the product being available where the target customers can buy it is essential. is essential for success
   • Service
     • ancillary or peripheral activities that are performed to improve the primary product or primary service.

6. CONSUMER DESICIONS

   • the results of the company's marketing strategy are determined by its interaction with the consumer's decision process.

7. OUTCOMES

   • Product Position
   • Sales and Profits
   • Customer Satisfaction
   • Need Satisfaction
   • Injurious Consumption
   • Economic Outcomes
   • Physical Environment Outcomes
   • Social Welfare

8. THE NATURE OF CONSUMER BEHAVIOR

   • Culture Subculture Demographics Social Status Reference Groups Family Marketing Activities
   • Perception Learning Memory Motives Personality Emotions Attitudes