Communication Process and Consumer Behavior Lecture Notes - Prof. Steven R. Hall, Study notes of Banking Law and Practice

Download Communication Process and Consumer Behavior Lecture Notes - Prof. Steven R. Hall and more Study notes Banking Law and Practice in PDF only on Docsity! Communication Process Lecture Basic components – if I give an example, know how to apply Research Lecture Customer analysis- buying processes: how, what, why, when, where?  Ex. Beer- so many choices, when do you need to upgrade?, candy, clothes, brand loyalty Competitive analysis-  Sales- selling northface, Columbia vs. northface  Repurchase rates- fondue pots- how often do you buy theses?  Customer satisfaction- mini scoop on top  Marketing activities- fast food, dollar menu Operational analysis- how effective is sales force, distribution, advertising, promotional programs, pricing strategies Environmental analysis-  technology- important and must have newest and fastest  media- facebook, social media, news media, youtube, hard time mounting social media bandwagon,  advertising- ray bans- WWII general mccarthar made popular  regulatory- federal trade commission building and fair trade Consumer Behavior - Internal Factors Lecture Perceptual process – imagery, brand, far more complex Physical data/stimuli- ad, package, display, price tag, news item, blog, youtube video Sensation- attention to object or environment and taste, smell, see, hear, touch, senses  ex. Picture of pizza oven, yummy pizza in new york organization- categorize by matching sensed stimulus with similar object categories, identify things and then classify them  ex. Ford trucks, Chevy because of logo, blue Toyota tundra, Beatles poster interpretation- attach meaning, place, value, judge whether good/bad, better/worse, different/same  ex. Beatle (abbey road album) and justin beiber (one time) Stimulus- nature of information you get from environment  ex. Steve hobs picture in black and white context- setting in which information is received  ex. Catering, Seinfeld ordering deli, pearl oyster bar in NYC, manhattan apple store which is glass with spiral staircase customer characteristic- personal beliefs, knowledge and experiences including the customers expertise on the relevant topic and prior experience with similar stimuli Biases in perceptual process Exposure- consumers chose whether or not to make themselves available to info  ex. Mr. clean on sidewalk, turning on the radio Attention- choose to attend to some stimuli and not others  ex. Choose to listen or watch certain stations/tv shows, miller high life Comprehension- interpret info based on own attitudes, beliefs, motives, and experiences  ex. Democrat and republican, pro choice bans Retention- remember some info about campaign/ad but not all Learning Cognitive learning- get info from written, visual, oral communication.  Route memorization- learn by rehearsing  Problem solving- actively processing information o Extended problem solving- consumers are inexperienced with particular consumption setting o Limited problem solving- consumer experience is low Classical Conditioning- learning to associate 2 behaviors because of constant association as a pair Instrumental conditioning- learn to respond to certain ways because they are rewarded Modeling- learn by observing others  Ex. Teachers, coaches, frats/sororities, parents Simplification- consumer strategy of simplifying tasks, cumulative learning from past helps consumers solve problems more efficiently Complication- desire to redefine a problem so there are new decisions to be made,  Internal information search- personal experience and prior knowledge o MR/AR department located w/in the firm  External informational search- gathering information from visiting retail stores to see alternatives, seeking info from friends, relatives, product reviews, ads, internet o aren’t part of the firm  Consideration set- brands consumer will consider for a purchase  Evaluative criteria- product attributes or performance characteristics used to compare brands Alternative evaluation:  inert set-brands about which the person is indifferent  inept set- brands considered unacceptable Outlet selection  store environment, staff Social conditions at store o Lifestyle, situation, shopping orientation all affect enjoyment, time in store, items examined, purchases, satisfaction Chapter 4 Behavioristic- method of segmenting consumers based on the benefits being sought. Determined by user status, purchase occasion, and benefits sought Demographic- gender, age, number of children, household, quantifiable factors Psychographic- segmenting consumers based on attitudes, values, interests, activities, lifestyle and other psychological values Chapter 5 The consumer perception process Perceptual screens: physiological and psychological filters that messages must pass through, shield us from unwanted messages  Physiological screens- use 5 senses to detect incoming data and measure the dimension and intensity of the physical stimulus  Psychological screens- perceptual screens consumers use to evaluate, filter, and personalize information according to subjective standards primarily emotions and personality o Evaluate data based on innate factors such as the consumers personality and instinctive human needs, learned factors, self- concept, interests, attitudes, beliefs, past experiences, and lifestyle Cognition- the point of awareness and comprehension of a stimulus Mental Files - stored memories in consumer’s minds Cognitive learning- mental process of memory, thinking, and the rational application of knowledge to practical problems  How we learn from experience of others such as our parents Conditioning theory (stimulus response theory)- the theory that learning is a trial and error process Elaboration likelihood model- a theory of how persuasion occurs, it proposes that the method of persuasion depends on the consumer’s level of involvement with the product and the message  Central route to persuasion- when a consumer’s level of involvement is high, the central route is more likely, consumers are motivated to pay attention to product related information such as product attributes and comprehend the ad-delivered information at a deeper, more elaborate level  Peripheral route to persuasion- when consumers have low involvement with a product or message, they have little reason to pay attention or comprehend the central message of the ad, consumers might attend to some peripheral aspects of an ad for its entertainment value, consistent with stimulus- response theory, consumers may respond to the message at a later date, when a purchase occasion arises Learning Habits and brand loyalty Habit- an acquired or developed behavior pattern that has become nearly or completely involuntary, consumers buy a single brand repeatedly as a solution to a simple consumption problem Brand loyalty- conscious or unconscious decision expressed through intention or behavior to repurchase a brand continually, consumer perceives that the brand has the right product features, image, quality, or relationship at the right price Negatively Originated Motive ( Informational )- consumer purchase and usage based on problem removal or problem avoidance, to relive such feelings, consumers actively seek a new or replacement product Positively Originated Motive ( Transformational )- consumers motivation to purchase and use a product based on a positive bonus that the product promises, such as sensory gratification, intellectual stimulation, or social approval Chapter 6 primary data - research data gained directly from the marketplace secondary data - data collected or published including: government, library, trade associations, publications Qualitative research- research that tries to determine market variables according to unquantifiable criteria such as attitudes, beliefs, and lifestyles  Intensive techniques- qualitative research that aimed at probing the deepest feelings, attitudes, and beliefs of consumers through direct questioning (in depth interviews and focus groups)  Focus group- a qualitative method of research in which people, typical of the target market, are invited to a group session to discuss the product, the service, or the marketing situation for an hr or more o Advantages: snowballing, stimulating, spontaneity, security o Disadvantage: time constraints, opinionated people, rambling  In depth interview- an intensive interview technique that uses carefully planned but loosely structured questions to probe respondents deeper feelings  Ethnographic research- intensive research technique that has been gaining popularity among advertisers, involves understanding behavior and culture by going out and talking to ppl wherever they are while theyre doing something Quantitative research- research that tries to determine market variables according to reliable hard statistics about specific market conditions or situations