Introduction

Studying consumer behavior is fun and interesting. Why, for example, do people turn right more often than left when they enter a grocery store? Why do consumers shop on their tablets and laptops at night from the couch but not on their mobile devices in the store or at home? As marketers, we want answers to these questions so that we can better predict and meet the needs of buyers.

Consumer behavior (CB) is driven by both internal and external influences. 

External examples are environmental, such as the ambience or cleanliness of a restaurant or even the weather, the accessibility of a product we want (is it close by, a far drive but worth it, or able to be purchased online?), and the opinions, advice, and expertise of others we trust. 

Internal factors include preconceived perceptions and attitudes, personal beliefs and interests, the way we process information and learn, and so on. For example, if your attitude toward a brand is positive, it may be the first place you look when you need a new item that that brand makes. Likewise, if you are an adventurous personality with interest in the outdoors, you may purchase items such as a skydiving excursion or a kayak. 

Marketers need to know what is driving the purchasing behavior of their intended consumers in order to stimulate desire for their products.

In this first lesson, you will be introduced to the importance of the study of consumer behavior. The consumer value framework and its components will also be discussed.

Learning Objectives

After completing this lesson, students will be able to do the following:

1. Define consumption and consumer behavior (CB).
2. Explain the role of consumer behavior in business and society.
3. Describe basic approaches to studying consumer behavior.
4. Explain why consumer behavior is so dynamic and how recent trends affect consumers.
5. Describe the consumer value framework, including its basic components.
6. Apply marketing concepts to explain how marketers create value for consumers.
7. Analyze consumer markets using elementary perceptual maps.
8. Distinguish disciplines that comprise the relatively new field of consumer behavior, including marketing, marketing research, psychology, sociology, anthropology, and neuroscience.