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Consumer Behaviour Lecture 2 - 18^th October 2007

Consumer behaviour is part of marketing.

Peter Drucker is one of the “gurus” of management.

Marketing means putting the customer as the centre of your activity.

A business is in marketing to produce satisfactions.

Businesses must not fall into the trap of thinking their product is the best.

An engineer might think that quality is the best, but customers might think other attributes e.g. Price is more important.

The first aim of any organisation is survival.

Marketing and selling concept are not related.

Selling concept is when people are lazy to buy products, so you have to “push” people to buy products/services.

Products must fit the user’s lifestyle.

The Marketing concept

The whole business seen from the point of view of the customer.

Implications:

• Need to understand the customer;

• Coordination of effort;

• Profit.

Even non-profit making organisations use the marketing concept.

Marketing

The art and science of selecting an appropriate market arena and serving it profitability by anticipating and keeping in tune with its present and future needs against all competition.

Marketing has to use creativity. The more original you are, the better the message is delivered.

New product development – marketing is an art: brainstorming as many ideas as possible. This means that you have to be creative by using brainstorming, lateral thinking etc.

Marketing is a science. There are procedures e.g. Surveys how big sample. The scientific method is used.

Marketing = art + science.

Different Orientations

• Product;

• Technology;

• Selling;

• Marketing;

• Societal marketing – marketing at the expense of society.

• Relationship marketing.

Societal marketing concept: people who believe we must preserve the environment is growing. People will start looking at the effect of the product in the environment. Organisation must start looking at the needs of the people.

The Societal marketing concept

This concept holds that the organisation should determine the needs, wants and interests of the target markets and deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and the society’s well-being.

This concept questions whether the pure marketing concept is adequate in an age of environmental problems, resource shortages, rapid population growth, worldwide economic problems, and neglected social services. It asks, is the firm that senses, serves and satisfies individual wants is always doing what is best for consumer’s and society in the long run. According to the societal marketing concept the pure marketing concept overlooks possible conflicts between short-run consumer wants and long-run consumer welfare.

The 3 considerations under the societal marketing concepts are:

• Society (human welfare);

• Consumer (want satisfaction);

• Company (profits).

Relationship marketing

Relationship marketing is the practice of building long-term satisfying relations with key parties – customers, suppliers, distributors in order to retain their long-term preference and business.

Smart marketers try to build up long-term, trusting ‘win-win’ relationships with valued customers, distributors, dealers and suppliers.

Paradigm – the concept theory which is most accepted as correct among the academic body.

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