MKC2110 Lecture Notes - Lecture 1: Famous Music, Consumer Behaviour, Target Market
What is Consumer Behaviour?
The totality of consumers’ decisions with respect to the acquisition,
consumption, and disposition of goods services, activities, experiences,
people, and ideas by (human) decision-making units [over time]
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Components of Consumer Behaviour
Buying behaviour is more often based on emotion rather than rationality.
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Music affects buyer behaviour
E.g. experiment where a shopping centre played either famous or less
famous music
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More people impulse bought with famous music, because they were
more focused on the music rather than the promotion
○
With less famous music, people still bought stuff but they focused more
on the promotion than the music, and made more well informed
purchases.
○
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Four Domains of Consumer Behaviour
Marketing: the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and societies at large.
Business and Consumer Behaviour Insights
STP
Who is our market?
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How do we segment?
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How profitable is each segment?
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Which market should we target?
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How should we position our product?
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4 P's
Product: attributes, branding, packaging
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Price: pricing strategies, price sensitivity
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Place: where to sell, store ambience, online appeal
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Promotion: communication strategies, effective ads
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Schkinny Maninny
Target market: women who want to lose weight, who want a healthier
lifestyle, people who have a higher disposable income
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Website reflects target market, name is too long, but pink colour scheme is
nice
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Summary
Consumer behaviour is the study of understanding how an individual or
group of consumers makes decisions overtime about the acquisition, use, or
disposition of offerings.
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The four domains of consumer behaviour are related to each other and they
affect how consumers behave.
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Consumer behaviour has various important roles in our society and its
insights help marketers in the development and implementation of effective
marketing strategies.
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Consumer Behaviour
Monday, 26 February 2018
10:31 am
Document Summary
The totality of consumers" decisions with respect to the acquisition, consumption, and disposition of goods services, activities, experiences, people, and ideas by (human) decision-making units [over time] Buying behaviour is more often based on emotion rather than rationality. E. g. experiment where a shopping centre played either famous or less famous music. More people impulse bought with famous music, because they were more focused on the music rather than the promotion. With less famous music, people still bought stuff but they focused more on the promotion than the music, and made more well informed purchases. Marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large. Place: where to sell, store ambience, online appeal. Target market: women who want to lose weight, who want a healthier lifestyle, people who have a higher disposable income.
