,Consumer Behavior: Meeting Changes and Challenges,CHAPTER ONE,Learning Objectives,To Understand What Consumer Behavior Is and the Different Types of Consumers. To Understand the Relationship Between Consumer Behavior and the Marketing Concept, the Societal Marketing Concept, as Well as Segmentation, Targeting, and Positioning. To Understand the Relationship Between Consumer Behavior and Customer Value, Satisfaction, Trust, and Retention. To Understand How New Technologies Are Enabling Marketers to Better Satisfy the Needs and Wants of Consumers.,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,2,Chapter One Slide,Learning Objectives (continued),To Understand How Marketers Are Increasingly Able to Reach Consumers Wherever Consumers Wish to Be Reached. To Understand How the Worlds Economic Condition Is Leading to Consumption Instability and Change. To Understand the Makeup and Composition of a Model of Consumer Behavior. To Understand the Structure of This Book,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,3,Chapter One Slide,To Which Segment ofConsumers Will This Ad Appeal?,Chapter One Slide 4,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,A Segment of Consumers Who are Environmentally Concerned,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Chapter One Slide 5,Consumer Behavior,The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,6,Chapter One Slide,Two Consumer Entities,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,7,Chapter One Slide,Development of the Marketing Concept,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,8,Chapter One Slide,Production Orientation,From the 1850s to the late 1920s Companies focus on production capabilities Consumer demand exceeded supply,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,9,Chapter One Slide,Sales Orientation,From the 1930s to the mid 1950s Focus on selling Supply exceeded customer demand,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,10,Chapter One Slide,Marketing Concept,1950s to current - Focus on the customer! Determine the needs and wants of specific target markets Deliver satisfaction better than competition,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,11,Chapter One Slide,Discussion Questions,What two companies do you believe grasp and use the marketing concept? Why do you believe this?,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Chapter One Slide,12,Societal Marketing Concept,Considers consumers long-run best interest Good corporate citizenship,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Chapter One Slide,13,The Marketing Concept,Consumer Research Segmentation Market Targeting Positioning,The process and tools used to study consumer behavior,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Embracing the Marketing Concept,Chapter One Slide,14,The Marketing Concept,Consumer Research Segmentation Market Targeting Positioning,Process of dividing the market into subsets of consumers with common needs or characteristics,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Implementing the Marketing Concept,Chapter One Slide,15,Discussion Questions,What products that you regularly purchase are highly segmented? What are the different segments? Why is segmentation useful to the marketer for these products?,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,16,Chapter One Slide,The Marketing Concept,Consumer Research Segmentation Market Targeting Positioning,The selection of one or more of the segments identified to pursue,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Implementing the Marketing Concept,Chapter One Slide,17,The Marketing Concept,Consumer Research Segmentation Market Targeting Positioning,Developing a distinct image for the product in the mind of the consumer Successful positioning includes: Communicating the benefits of the product Communicating a unique selling proposition,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,Implementing the Marketing Concept,Chapter One Slide,18,The Marketing Mix,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,19,Chapter One Slide,Customer Value, Satisfaction, Trust, and Retention,Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall,20,Chapter One Slide,Successful Relationships,Customer Value Customer Satisfaction Customer Trust Customer Retention,Defined as the ratio between the customers perceived benefits and the resources used to obtain those benefits Perceived value is relative and subjective Developing a value proposition is critical,Copyright 2010 Pearson Education, Inc. publishing as Pr