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Chapter 1: Intro to consumer Behaviour - Coggle Diagram
Chapter 1: Intro to consumer Behaviour
Consumer behaviour: A combination of activities and influence that occur before, during and after the purchase itself
the 2 types of consumers
Personal consumers
Indies that buy goods and services for their own use or that of the households, i.e family members, friends
Organizational consumers:
A business, government agency or other institutions(NGO or profit based), buying the goods, services and equipment necessary for the organization to function
Org purchases are made for the purpose of:
Manufacturing other products and services for example raw materials
reselling to other organisational buyers or customers, i.e. retailer and wholesalers
Conducting the organization's operations, for example office equipment and stationery
3 Roles of Customers
Selector:
The person who participates in the procurement of the product from the marketplace, little Tim wants candy for him and his little sister
Payer:
The person who actually finances or pays for the purchase, hes mom buys the candy for the little tim
User: the person who consumes or uses, or recieves the benefits of the services, his little sister enjoys the candy the mom and tim picked out
Fig 1.2: Factors influencing consumer behaviour, note in book
Application of Knowledge of Consumer Behaviour:
Marketing strategy -
Tactics used for the implementation are based on what the consumer believes in for example, if consumers believe in crystal, what crystals would the org sell.
the understanding of this behaviour allows for the reductions, of wrong choice
the consumer behaviour, affects the strategic situation and strategy selection of the organization
Social marketing:
the marketers need to have a wider understanding of their position in PESTLE, things like promotion of awareness in social issues.
donating percentage of revenue earned during the specified period of support to a particular cause,
Starting a CSR or CSI campaign in order to aid npos or communities
Becoming better informed indivduals:
by understanding consumer behaviour, we can increase our understanding of ourselves and the environment
companies must keep the consumers in the know how in order to make a more informed decision.
components of market analysis
Customers:
understanding of the consumers needs and wants
Customer value analysis = using the information stored in the database to predict future behaviour of consumers
Competitors:
The understanding of the customers allows for the company to do better
important to be aware of the competitors and what they are using
Organization:
part of success depends on its understanding of its capabilities
orgs need to know their abilities to meet the customers needs itself.
environment: refers to those elements or vars that may be influenced, but not controlled by the organization
Market Segmentation, a market segment consists of a gorup of customer who share a similar set of needs and wants
pros:
forces customer to
zero in on customers needs
, can achieve a great customer satisfaction rate
Identification of more
marketing opportunities,
can leave some markets untouched without it
provides a
guideline
for the developement of separated market offerings and strats.
Can facilitate the
appropriate allocation of marketing resources
.