MKT 400 Final: FINAL NOTES: LECTURE + TEXTBOOK NOTES
17 May 2018
School
Department
Course
Professor
MKT 400 2018 Faye De Leon
Chapter 1: What is CB & Why should I care? ...................................................................................................... 1
Chapter 2: Value and the Consumer Behaviour Value Framework ........................................................................ 4
Chapter 3: Consumer Learning Starts Here: Perception ........................................................................................ 7
Chapter 4: Comprehension, Memory & Cognitive Learning ................................................................................ 12
Chapter 5: Motivation and Emotion: Driving Consumer ...................................................................................... 18
Chapter 6: Personality, Lifestyles and the Self Concept ....................................................................................... 23
Chapter 7: Attitudes and Attitude Change ........................................................................................................... 28
Chapter 8: Consumer Culture ............................................................................................................................... 33
Chapter 9: Microculture ........................................................................................................................................ 37
Chapter 10: Group & Interpersonal Influence ...................................................................................................... 39
Chapter 12: Decision Making I: Need Recognition and Search ............................................................................ 46
Chapter 13: Decision Making 2: Alternative Evaluation and Choice .................................................................... 49
Chapter 14: Consumption to Satisfaction ............................................................................................................. 52
Chapter 15: Consumer Relationships ................................................................................................................... 56
Chapter 1: What is CB & Why should I care?
Marketing Ethics and
Consumer Misbehaviour
➢ Manipulative marketing practices, deceptive advertising and
corporate scandals upset the value equation associated with a
given exchange.
Effect of Corporate Misbehaviour:
➢ Ultimately, consumers “vote with their wallets when companies
engage in unethical behaviour.
Consumption and Consumer
Behaviour
1. Human thought and action
2. A field of study (human inquiry) that is developing an accumulated
body of knowledge.
The Basic Consumption process:
Need → Want → Exchange → Costs and benefits → Reaction → Value →
Repeat.
Consumer Behaviour
➢ A set of value seeking activities that take place as people go about
addressing needs.
➢ Study of the processes involved when individuals or groups
(consumers) select, purchase and use or dispose of products,
services, ideas or experiences to satisfy needs and desires.
• Can be performed by different people.
➢ Marketing activities exert an enormous impact on individuals.
Consume behaviours is relevant to our understanding of both
public policy issues (ethical marketing practices) and the dynamics
of popular culture.
MKT 400 2018 Faye De Leon
➢ The field of consumer behaviour is interdisciplinary; it is
composed of researchers from many different fields who share an
interest in how people interact in the market place
➢ These disciplines can be categorised by the degree of the focus;
economists study consumer behaviour from a macro or broad
perspective. Consumer behaviour researchers study consumer
behaviour on a micro or more individual level.
• Micro : individual consumer vs.
• Macro: consumer as a member of groups or a larger
society
How are consumers treated?
Questions to Consider:
➢ How competitive is the marketing environment?
➢ How dependent is the marketer on repeat business?
- Ex. How consumers are treated in service Canada vs. A fine
restaurant.
Consumer (Customer
orientation)
➢ Way of doing business in which the actions and decision making of
the institution prioritize consumer value and satisfaction above all
concerns.
Market Orientation
➢ Organizational culture that embodies the importance of creating
value for customers among all employees.
Relationship Marketing
➢ Activities based on belief that the firm’s performance is enhanced
through repeat business.
Touchpoints
➢ Direct contacts between the firm and the customer.
Why study CB?
➢ Input to business/marketing strategy
➢ Force that shapes society
➢ Input to making responsible decisions as a consumer.
Resource Advantage Theory
➢ Explains why companies succeed or fail; the company goes about
obtaining resources from consumers in return for the value the
company’s resources create.
Myopic Business View
➢ Defines the business in terms of products and not the value the
consumer receive.
MKT 400 2018 Faye De Leon
➢
CB and Society
➢ The things that people buy and consume end up determining the
type of society in which we live. (Customs, manners and ritual all
involve consumption)
➢ Additionally, when governments create laws that govern the way
we buy and consume products, consumer behaviour is involved.
CB & Personal Growth
➢ Studying CB helps consumers make better decisions by
understanding:
1. Consequences of poor budget allocation
2. The role of emotions in consumer decision making
3. Avenues for seeking redress for unsatisfactory purchases
4. Social influences on decision making including peer pressure
5. The effect of the environment on consumer behaviour.
Different Approaches to Studying CB
➢ Interpretive Research
➢ Approach that seeks to explain the inner meanings and
motivations associated with specific consumption experiences.
- Qualitative
Research
➢ Means for gathering data in a relatively unstructured way,
including case analysis, clinical interviews and focus group
interviews
- Phenomenology
➢ Qualitative approach to studying consumers that relies on
interpretation of the lived experience associated with some
aspect of consumption
- Ethnography
➢ Qualitative approach to studying consumers that relies on
interpretation of artifacts to draw conclusions about
consumption.
➢ Researchers may ask to study your closet or contents of your
fridge to learn more about you as a consumer.
➢ Quantitative Research
➢ Approach that addresses questions about consumer behaviour
using numerical measurements.
Consumer Behaviour is
Dynamic
➢ Internationalization
➢ Technological Changes
➢ Changing Communications
➢ Changing Demographics
➢ Changing Economy.
Document Summary
Chapter 2: value and the consumer behaviour value framework 4. Chapter 3: consumer learning starts here: perception 7. Chapter 4: comprehension, memory & cognitive learning 12. Chapter 5: motivation and emotion: driving consumer 18. Chapter 6: personality, lifestyles and the self concept 23. Chapter 7: attitudes and attitude change 28. Chapter 10: group & interpersonal influence 39. Chapter 12: decision making i: need recognition and search 46. Chapter 13: decision making 2: alternative evaluation and choice 49. Manipulative marketing practices, deceptive advertising and corporate scandals upset the value equation associated with a given exchange. Ultimately, consumers vote with their wallets when companies engage in unethical behaviour. Behaviour: human thought and action, a field of study (human inquiry) that is developing an accumulated body of knowledge. Need want exchange costs and benefits reaction value . A set of value seeking activities that take place as people go about addressing needs.
