Introduction to Consumer Behavior and Marketing Strategy Online ...

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6/1/2010 Consumer Behavior Involves Interactions • Interactions among people’s thinking, feelings and actions, and the environment • Marketers need to understand – What products and brands mean to consumers – What consumers must do to purchase and use them – What influences shopping, purchase, and consumption 1-10 Consumer Behavior Involves Exchanges • Exchange between people involves giving up of something of value and receiving something in return • Role of marketing in society is to help create exchanges by formulating and implementing marketing strategies 1-11 Approaches to the Study of Consumer Behavior 1-12 4
6/1/2010 Major Approaches to Studying Consumer Behavior • Interpretive – Based on theories and methods from cultural anthropology – Objective is to understand consumption and its meanings – Methods of study involve • Long interviews • Focus groups 1-13 Major Approaches to Studying Consumer Behavior cont. • Traditional – Based on theories and methods from cognitive, social, and behavioral psychology, and sociology – Objective is to develop theories and methods to explain consumer decision making and behavior – Methods of study involve • Experiments • Surveys 1-14 Major Approaches to Studying Consumer Behavior cont. • Marketing science – Based on theories and methods from economics and statistics – Objective is to develop and test mathematical models to predict the impact of marketing strategies on consumer choice and behavior – This method of study has become popular in the consumer packaged goods industry since it can handle large scanner data sets 1-15 5
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Introduction to Consumer Behavior and Marketing Strategy Online ...

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