MKT 400 Lecture Notes - Web 2.0, Consumer Behaviour, Relationship Marketing

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

Document Summary

Mkt400 chapter 1: an introduction to consumer behaviour. Consumer behaviour the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires. Consumers can be categorized in terms of demographics and psychographics. The growth of the web has created thousands of online consumption communities where members share views and product recommendations. Using market segmentation strategies means targeting a brand only to a specific group of consumers rather than to everybody. The purchaser and user may not be the same person, and there may also be an influencer. The purpose of understanding consumer behaviour is to predict the future. Demographics: age, gender, family structure, social class and income, ethnicity, geography, lifestyles: beyond demographics. Marketers who believe in relationship marketing are making an effort to interact with customers on a regular basis, giving them reasons to maintain a bond with the company over time.