Comstrat 380 1nd Edition Lecture 6 Outline of Last Lecture I. Successful BrandsII. Key components of a brandIII. Brand valueIV. Leveraging brand equityOutline of Current Lecture I. IMCII. Consumer Decision MakingIII. What is Consumer Behavior?IV. Consumer BehaviorV. Cultural Influences on Consumer BehaviorVI. Social InfluencesVII. Psychological InfluencesCurrent LectureI. IMCa. is the practice of unifying all marketing communication messages and tools, as well as the messages from the marketing mix decisions so that they send a consistent message promoting the brand's strategyII. Consumer Decision Making a. Who might this ad influence?b. What are their needs and wantsIII. What is Consumer Behavior?a. Influences can be:i. Cultural ii. SocialThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.iii. PsychologicalIV. Consumer Behaviora. Describes how individuals and groups select, purchase, use or dispose of products, and the needs and wants that motivate behaviorsb. Customers: Consumers who buy particular brands or patronize specific storesc. Consumers: People who buy or use products or adopt ideas to satisfy needs and wantsd. Prospects: Potential customers who are likely to buy the product brandV. Cultural Influences on Consumer Behaviora. Norms and Valuesi. Norms: A culture's boundaries for "proper" behaviorii. Values: The source of norms which represent underlying belief systemsiii. Corporate Culture: Describes how various companies operate. This may be formal or informalb. Cultural influencesi. Advertisers strive to understand the underlying core values that govern and guide behaviorc. Social Influencesd. Social classi. Incomeii. Wealthiii. Educationiv. Occupationv. Family prestigevi. Value of homevii. Neighborhoode. Reference groupsi. Groups we use for models for behavior1. Teachers2. Religious leaders3. Political leadersf. Brand communitiesi. Groups of people devoted to a particular brand1. For consumers, reference groupsa. Provide informationb. Serve as a means of personal comparisonc. Offer guidanceVI. Social Influencesa. Familyi. People related by blood, marriage, or adoption who live in the same householdii. A household consists of all those who occupy a dwelling related or notiii. Lifestyle reflects family situations values and incomesVII. Psychological Influencesa. Satisfaction: This is only one possible response to a brand message or brand experienceb. Motivation: a motivate is an internal force that stimulates you to behave in a certain mannerc. Cognitive dissonance: refers to a conflict between thoughts. This creates a state of
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