lecture 1

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University of Toronto Scarborough
Management (MGM)
Kyeongheui Kim

Chapter 1 Consumer Behaviour May-09-09 Consumer behaviour is the study of individuals, groups or organization and the processes they use to select, secure, use and dispose of products, services, experiences or ideas to satisfy needs and the impacts that these processes have on the consumer and society 4 key aspects regarding consumer behaviour 1. Successful marketing decisions by commercial firms, nonprofits organizations and regulatory agencies require extensive information about consumer behaviour. 2. There is a need to collect information about the specific consumers involved in the marketing decision at hand 3. Consumer behaviour is complex, multidimensional process 4. Marketing practices designed to influence consumer behaviour involve ethical issues that affect the firm, the individual and society Sufficient knowledge of consumer behaviour exists to provide a usable guide to marketing practice for firms All marketing decisions and regulations are based on assumptions and knowledge about consumer behaviour Applications of Consumer Behaviour Marketing strategy All marketing strategies and tactics are based on explicit or implicit beliefs about consumer behaviour Decisions based on explicit assumptions and on sound theory and research are more likely to be successfully than decisions based on intuition or hunches Regulating Policy Various regulatory bodies exist to develop, interpret and implement policies designed to protect and aid consumers (ex, Federal Drug Administration FDA) Social Marketing Social marketing is the application of marketing strategies and tactics to alter or create behaviours that have a positive effect on the targeted individuals or society as a whole Social marketing has been used to show the social consequences of smoking instead of health consequences Informed Individuals Most economically developed societies are referred to as consumption societies These people spend more time engaged in consumption rather than any other activity www.notesolution.com
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