In this chapter, we dig deeper into steps two and three of the marketing process: designing customer-driven marketing strategies and constructing marketing programs. First, we look at the organization’s overall strategic planning, which guides marketing strategy and planning. Next, we discuss how, guided by the strategic plan, marketers partner closely with others inside and outside the firm to create value for customers. We then examine marketing strategy and planning how marketers choose target markets, position their market offerings, develop a marketing mix, and manage their marketing programs. Finally, we look at the important step of measuring and managing return on marketing investment (marketing ROI). | Consumer Markets and Consumer Buyer Behavior (Part-1) LECTURE-8 1 Model of Consumer Behavior Characteristics Affecting Consumer Behavior Types of Buying Decision Behavior The Buyer Decision Process The Buyer Decision Process for New Products Topic Outline In this chapter, we dig deeper into steps two and three of the marketing process: designing customer-driven marketing strategies and constructing marketing programs. First, we look at the organization’s overall strategic planning, which guides marketing strategy and planning. Next, we discuss how, guided by the strategic plan, marketers partner closely with others inside and outside the firm to create value for customers. We then examine marketing strategy and planning—how marketers choose target markets, position their market offerings, develop a marketing mix, and manage their marketing programs. Finally, we look at the important step of measuring and managing return on marketing investment (marketing ROI). 2 Consumer Behavior Consumer Behavior is the study of how individuals, groups, and organizations select, buy, use & dispose of goods, services, ideas, or experiences to satisfy their needs and wants. 3 Consumer Behavior Consumer Behavior is the study of how individuals, groups, and organizations select, buy, use & dispose of goods, services, ideas, or experiences to satisfy their needs and wants. 4 Consumer buyer behavior : The buying behavior of final consumers, individuals and households, who buy goods and services for personal consumption Consumer market : All of the personal consumption of final consumers Model of Consumer Behavior Note to Instructor Discussion Question What have you recently purchased that cost over $100? Write down all the reasons you purchased this particular item. Because students are all consumers—it is interesting to start the class with a discussion of products they have recently purchased. When you ask them why they purchased a particular item or product, you can bring them . | Consumer Markets and Consumer Buyer Behavior (Part-1) LECTURE-8 1 Model of Consumer Behavior Characteristics Affecting Consumer Behavior Types of Buying Decision Behavior The Buyer Decision Process The Buyer Decision Process for New Products Topic Outline In this chapter, we dig deeper into steps two and three of the marketing process: designing customer-driven marketing strategies and constructing marketing programs. First, we look at the organization’s overall strategic planning, which guides marketing strategy and planning. Next, we discuss how, guided by the strategic plan, marketers partner closely with others inside and outside the firm to create value for customers. We then examine marketing strategy and planning—how marketers choose target markets, position their market offerings, develop a marketing mix, and manage their marketing programs. Finally, we look at the important step of measuring and managing return on marketing investment (marketing ROI). 2 Consumer Behavior
