MKT 400 Lecture Notes - Lecture 4: Consumer Behaviour

• School: Ryerson University
• Department: Marketing
• Course: MKT 400
• Professor: Steven Chuang

Document Summary

Chapter 2: value and the consumer behaviour value framework: consumer. Represents consumer behaviour theory illustrating fctors that shape consumption related behaviour and ultimately determine the value associated with consumption. The thinking or mental processes that go on as we process and store things that can become knowledge. Refers to the feelings experienced during consumption activities or associated with specific objects. Individual differences include things like personality and lifestyles. Value is a personal assessment of the net worth obtained from an activity. Types of value: concepts of marketing strategy and marketing tactics to describe the way firms go about creating value for consumers. Every produ(cid:272)t"s value is (cid:373)ade up of (cid:271)asi(cid:272) (cid:271)e(cid:374)efits, plus the aug(cid:373)e(cid:374)ted produ(cid:272)t, plust the (cid:862)feel(cid:863) (cid:271)e(cid:374)efits. The realization that a consumer is necessary and must play a part in order to produce value. The separation of a market into groups based on different demand curves associated with each group.