MK209 notes - Summary Consumer Behaviour: A European Perspective PDF

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MK209 – CONSUMER BEHAVIOUR CHAPTER 1 Marketers might put individuals in a category in terms of age, gender, occupation, income etc. (descriptive characteristics of a demographic). Some marketers like to categories based on the buyers’ interests such as fashion, sports, music etc. (psychographics – parts of an individuals’ lifestyle and personality, Solomon et al pg. 4) 

These categories help to ‘’define the market for a product’’ or provide assistance when deciding on the most appropriate method for targeting such market.

A company can focus on a single segment, several or ignore any difference within groups and use the mass market strategy. Segmentation Variables:

The following must be met for the segmentation process to work (not in my own words Solomon et al p.g 8):     

Important differences between the segments can be identified The segment is large enough to be profitable Consumers within the segment are similar to one another in terms of product needs, and these needs are different from consumers in other segments Consumers in the segment can be reached by an appropriate marketing mix The consumers in the segment will respond in the desired way to the marketing mix designed for them.

Demographics – Statistics that measure the physical/observable aspects of a population e.g. age, gender, ethic group etc, these can be used to a realistic market size for a product. o

Age -

Psychographics – Variations in the personality, identities of the consumers in a population

The relationships that individuals have plays a part in the products that they choose to buy and avoid. Friends and family are most influential, others give their opinions and recommendations on products as well as product information. These kinds of information that shapes the buyers’ behavior is transmitted through conversations with real people, both face-to-face and online (e.g. from people from other countries because of the evolution of the web). Their opinions have an impact because both the buyer and the others (maybe a specific subgroup in society) have shared interests in products or in descriptive characteristics. 

There is pressure to buy products that would be largely supported by the group, as there is fear of rejection or embarrassment for not ‘’conforming to others’ conception of what is good or bad, ‘in’ or ‘out’’’ Solomon et al p.g 4

Buyers may reject certain brands because the brands do not cater to the ‘image’ that the buyer is trying to create/portray/identifies with. 

Market segmentation strategies – targeting the brand towards a specific group of consumers, not everybody. Therefore it is likely that other consumers may avoid the brand all together.

Through advertising, packaging, branding and other marketing strategies, brands are able to create and ‘image’. Many consumers then buy into the brand because they like the brand and what the brand is associated with as they believe that it corresponds with their own ‘personality’. 

Brands are then able to receive years of brand loyalty as a result of satisfying the consumers’ needs. This kind of loyalty is important because it is one that is difficult for competitors break.

Consumers are actors on the marketplace stage Role theory - Consumers play act out many different roles throughout their life in society, they change their consumptions choices regularly to cater to the role that they are currently playing. 

The criteria used to evaluate products will differ from role to role.

Consumers use their products are a method of communication to convey their role, identity or status etc.  

Other reasons for the purchase of certain products may be to have a ‘kick of pleasure’, be defiant and turning the products into something else e.g. for a different purpose. There may also be ‘political consumers’, those who boycott products from companies or countries that do not/have not acted in a manner that is ethical or environmental. Indicating that increasingly, consumers have been choosers and dictating the decisions that some companies make in fear of cancelation (Cancelling culture).

Consumer behavior is a process Marketers now realise that consumer behavior is continuous process and not only involves the exchange (when two or more organisations/people receive something of value), which includes problems that occurs and impact the consumer before, during and after the purchase.

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Consumer behavior involves many different actors It is not for certain that the buyer will also be the person that consumes the product that is purchased. E.g. a mother buying products for her children. In addition, another person e.g. a friend may be and influencer for the consumer rather than the buyer. 

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Consumers can also be organsiations, where one individual e.g. a purchasing agent makes the decisions on what products to purchase...