MKT 302_Notes week 2
MKT 302_Notes week 2 MKT 3020
Popular in Consumer Behavior
verified elite notetaker
Popular in Marketing
This 3 page Class Notes was uploaded by Allie S on Monday January 25, 2016. The Class Notes belongs to MKT 3020 at Clemson University taught by Dr. Siemens in Winter 2016. Since its upload, it has received 12 views. For similar materials see Consumer Behavior in Marketing at Clemson University.
Reviews for MKT 302_Notes week 2
Report this Material
What is Karma?
Karma is the currency of StudySoup.
Date Created: 01/25/16
Chapter 2Consumer BehaviorVaue and the CB Value Framework CONSUMER VALUE FRAMEWORK Internal Influences Consumption process External Influences Needs 0 Wants 0 Exchange 0 Costs and Benefits 0 Reactions Value 0 Utilitarian 0 Hedonic What is the CVF see exhibit 21 0 Consumer Value Framework 0 Framework of internalexternal influences that determine value of consumption experience Internal influences 1 Psychology of consumer attitudes 0 study of consumer PERCEPTION thought effects behaviors cognition thoughtsbeliefs about productexperience affect feelings associated with felt during consumption Psychology of the consumer involves o Cognition Thoughtsbeliefs o Affect Feelings attached to the experiences 2 Personality HOW consumer CONSISTENTLY behaves in various situations 0 Individual difference personality personal values motivations lifestyles Personality of the consumer involves 0 External influences Social 0 Situational Q What is consumer value 0 Personal net worth obtained from an action 0 Equation 0 VALUE What you GET What you GIVE 0 gets need satisfaction experience status 0 gives time money learning energy What are the different types of consumer value exhibit 23 1 Utilitarian value FUNCTIONAL value 0 Product helps solve a problem rational value Mow lawn fix car 2 Hedonic value emotional value 0 Product experience causes immediate gratification 0 Functional BUT motivation lies in extra features Ex skiing as exercise great food instead of convenient Hedonic ENHANCES Emotional value Market Segmentation vs Product differentiation Market Segmentation Recognizing differences not necessarily marketing to all people 0 Separation of a market into groups based on different demand curves associated with each group 0 Similar needs and similar reactions Product Differentiation Differences between own products competitors consumer perception Is a MARKETPLACE Condition in which consumers do NOT view all competing products as identical to one another What is a commodity 0 Product seen as being the same despite whowhere it was produced 0 price location convenience determine purchases NOT Quality because the consumer perception is that they are all the same Opposite of product differentiation Ex eggs milk salt flour Perceptual maps what are they used for and how would you construct one Perceptual Map 0 Graphically depicts positioning of competing products as perceived by consumer o Helps determine extent to which product differentiation exists BASED on quantitative data