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MCS 2600 (65)
Chapter 1

Chapter 1 Notes Consumer Behaviour.docx

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Marketing and Consumer Studies
MCS 2600
Lianne Foti

Chapter 1 Notes Consumer Behavior What is Consumer Behavior to understand what consumer behavior is and the different types of consumersyoung generations are getting their news and information from online sources messages to cell phones and through several technological devicesPresident Obamas campaign tactics are likely to become a guidebox for how to run a political marketing campaign in the futurewe define consumer behavior as the behavior that consumers display in searching for purchasing using evaluating and disposing of products and services that they expect will satisfy their needsIt focuses on how individual consumers and families or households make decisions to spend their available resources timemoneyeffort on itemsIncludes the 5 w of buying a product As consumers we play a vital role in the health of the economy from a local to an international levelConsumer behavior describes two different kinds of consuming entities1 Personal Consumerbuys good and services for his or her own use of the household or as agift these consumers are called the end user or ultimate consumer 2 Organizational Consumer profit and not for profit businesses government agenciesinstitutionsthey all must buy products equipment and services in order to run their organization Consumer Behavior and the Marketing Concept to understand the relationship between consumer behavior and the marketing concept the societal marketing concept as well as segmentation targeting and positioningthe strategic applied field of consumer behavior is rooted from three philosophically different business orientations that lead to the marketing concept1 Product Orientationexisted from 1850s1920sthis was an era where companies needed to expand productiona time where demand exceeded supply2 Sales Orientation existed from 1930s1950s
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