Course Marketing for pre-master

Lecture 1 1 Lecture 1 Course Marketing for pre-master Status Done Tags SemesterSemester 5 Type Lecture Files Lecture 1 (Zoom).pdf Why do we need consumer behavior The process of getting customers to purchase is carefully designed, we get customers to the ability to recognize that the product is what they want.Marketing’s goal is to get consumers to this point, where they are convinced it is a good buy Misconceptions Consumers are sales figures (whether they buy or not buy) But don’t know why the problem occurs We cannot know how to fix it We don’t know how consumers will react to change we might implement We should trust our intuition (but marketers are subject to same misconceptions, biases and errors) Leads to copying, riding the bandwagon (think of Instagram) 1 / 4

Lecture 1 2 What is consumer behavior?Think of the Bose/Sennheiser/DrDre Beats, how Beats was rated lower on quality, but was sold way more.Key insightsWe talk about the 3 colored ‘lenses’ on how consumers make sense of information provided to them by marketers 2 / 4

Lecture 1 3 Individuals react on the basis of perception, not on the basis of objective reality Objective product features is not equal to consumer benefits We need to understand consumers to better satisfy their needs Our intuitions about what consumers perceive, think and will do are often wrong 3 / 4

Lecture 1 4 Need Recognition Need is a discrepancy between actual and desired state Search for information Internal = retrieval from memory External

Marketer sources: advertising, company websites, stores, salespeople, brochures

Non-marketer sources: other consumers (incl. family & friends), consumer

organizations, government, media Pre-purchase evaluation of alternatives After this, people compare options based on criteria (which can differ from person to person)

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