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CUSTOMER BEHAVIOR: A MANAGERIAL PERSPECTIVE

CUSTOMER BEHAVIOR: A MANAGERIAL PERSPECTIVE


PART 1:
PART 1:

CHAPTER 1
The
TheCustomer:
Customer:
Key
Keyto
toMarket
MarketSuccess
Success

Copyright 2002

All rights
reserved.

The Importance of Understanding


Customer Behavior
Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

A Key to Success

Copyright 2002

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Satisfy customers
Adopt the marketing concept
Gain legitimacy in society

Copyright 1999 by Thomas

Satisfying the Customer


Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Adopt a Customer Culture

Copyright 2002

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Incorporate customer satisfaction as an


integral part of the corporate mission and
utilize an understanding of customer behavior
as input to all marketing plans and decisions

Copyright 1999 by Thomas

Adopting the Marketing


Concept
PART 1

Customer Behavior: A Managerial Perspective

Market Concept
Principle Focus

Copyright 2002

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Making what the


customer wants or
needs

vs.

CHAPTER 1

Selling Concept
Principle Focus

Finding a buyer for


the product
Selling the customer
into exchanging
money for the product

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Gaining Legitimacy in Society


Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

A society supports businesses because they


serve its members by catering to their
needs and wants

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Focus on the customer


Pay attention to customer behavior
Respond to customer needs, desires and
preferences
Copyright 1999 by Thomas

Customer Orientation
a
athorough
thoroughunderstanding
understandingof
ofcustomers
customersneeds
needsand
and
wants,
wants,the
thecompetitive
competitiveenvironment,
environment,and
andthe
thenature
nature
of
ofthe
themarket
marketused
usedtotoformulate
formulateall
allthe
thefirms
firmsplans
plans
and
andactions
actionstotocreate
createsatisfied
satisfiedcustomers
customers

Copyright 2002

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reserved.

Competitive Advantages Through


Customer Satisfaction
PART 1

Customer Behavior: A Managerial Perspective

CHAPTER 1

Customer
Satisfaction

Repeat
Buying

Higher
Prices

Profits

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Loyalty in
Crisis

Word of
Mouth

Corporate
Performance

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One-Stop
shopping

New Product
Innovation

Growth

Increased Profitability
Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Advantages

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Cost efficiencies from repeat customers


Price premiums from established customers
Customer loyalty in corporate crisis

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Increased Growth
Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Advantages

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Increased word of mouth


One-stop shopping
New product innovations

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Creates Pride in Employees


Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Customer orientation has an effect on


employee morale in the company

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Satisfied employees create satisfied customers


Happy customers lead to employee happiness

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10

Customers: Types, Roles,


and Behaviors
Customer Behavior: A Managerial Perspective

Households
(consumers)

Business

Mental Activities
Physical Activities

PART 1

Payers

CHAPTER 1

Users

Buyers

Customer Types
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Copyright 1999 by Thomas

Roles
11

Three Roles of the Customer


Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

User
Payer
Buyer

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Copyright 1999 by Thomas

12

Reasons for Role Specialization


PART 1

Customer Behavior: A Managerial Perspective

Lack of expertise
Lack of time
Lack of buying power
Lack of access
Lack of affordability

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CHAPTER 1

When the product or


service is subsidized
by payers
When the product or
service is free

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13

Customer Needs and Wants


Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Need arousal is driven by discomfort in a


persons physical and psychological
conditions
Wants occur when and because humans
desire to take their physical and
psychological conditions beyond the state
of minimal comfort
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14

Determinants of Needs and Wants


PART 1

Customer Behavior: A Managerial Perspective

Customer Needs

Individual Traits

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Customer Wants

Genetics
Biogenics
Psychogenics

Market Traits
Climate
Topography
Ecology

CHAPTER 1

Individual Context

Personal Financial Worth


Institutions
Culture

Market Context

Economy
Technology
Public Policy

Copyright 1999 by Thomas

15

Matrix of Personal and


Environmental Characteristics
PART 1

Customer Behavior: A Managerial Perspective

CHAPTER 1

Environmental Characteristics
Physical
1.

Needs-driven markets (e.g.,


allergy medicine)

3.

Personal needs and


environmental wants (e.g.,
microwavable food)

2.

Personal wants and


environmental needs-driven
markets (e.g., fur coat)

4.

Wants-driven markets (e.g,


theatre attendance)

Physical
Personal
Characteristics
Contextual

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Contextual

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16

Market Value
Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Market value is the potential of a product


or service to satisfy customers needs and
wants
Value is created only if the product or
service has the capability to satisfy a
customers needs and wants
Copyright 2002

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Copyright 1999 by Thomas

17

Classification of Market Values


Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Universal Values
Personal Values

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Copyright 1999 by Thomas

18

Matrix of Values and Customer


Roles
PART 1

Customer Behavior: A Managerial Perspective

CHAPTER 1

CUSTOMER ROLES

UNIVERSAL VALUES
PERSONAL VALUES
Group specific
Individual-specific

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User

Payer

Buyer

Performance Value

Price Value

Service Value

Social value
Emotional value

Credit value
Financing value

Copyright 1999 by Thomas

Convenience value
Personalization value

19

Characteristics of Customer
Value
Customer Behavior: A Managerial Perspective

PART 1

CHAPTER 1

Values are instrumental


Values are dynamic
Values are hierarchical
Diversity of customer values increases with
hierarchy
Values are synergistic
Values are role-specific
Values vary across customers
Copyright 2002

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Copyright 1999 by Thomas

20

Determinants of Customer Behavior:


Personal Factors and Market
Environment
Chapter 2

Customer Attitudes:
Cognitive and Affective
Chapter 6

The Customer
as Perceiver
Chapter 4

Buyer

Conceptual Framework
Individual Customer
Decision Making
Chapter 8

Researching
Customer Behavior
Chapter 7

Customer Loyalty to
Products, Brands
and Stores
Chapter 11

User
UNDERSTANDING
CUSTOMER BEHAVIOR

Payer

Customer Motivation:
Needs, Emotions, and
Psychographics
Chapter 5

Relationship-based
Buying
Chapter 10
The Customer as
Learner
Chapter 4

Trends in Determinants
of Customer Behavior
Chapter 3

Group/Institution
Customer Decision
Making; Household,
Business and Government
Chapter 9

Online Customer
Behavior
Chapter 12