MKT 400 Lecture Notes - Lecture 99: Toledo Mud Hens, Social Environment, Blue Ocean Strategy

• School: Ryerson University
• Department: Marketing
• Course: MKT 400
• Professor: Marla Spergel

Document Summary

Part 1: chapter 2: value and the consumer behaviour value framework. The consumer value framework (cvf: represents consumer behaviour theory illustrating factors that shape consumption-related behaviors and ultimately determine the value associated with consumption. Relationship quality is a key component of value. Ask students for examples of companies that have done this well. Internal influences: psychology of the consumer, how consumers process and react to information, form attitudes, remember. Humza j: personality of the consumer, what makes individuals different includes motivation, values, individual lifestyle, and emotion high health conscious = more interested in a gym. Psychology of the consumer: cognition the thinking or mental processes that go on as we process and store things that can become knowledge, affect refers to the feelings experienced during consumption activities or associated with specific objects. Personality of the consumer: individual differences include things like personality and lifestyles. These shape the value experienced by consumers and the reaction consumers have to consumption.