Consumer Behaviour Knowledge: What we know about consumer behaviour

These are some of the points that I have learnt on consumer behaviour from my masters of marketing:
  • Market conditions tend to be stable; not dynamic)
  • Habitual buying process, cognitive decision making
  • More towards choice modelling of purchases rather than just measuring attitude
  • Co-efficients for promotion, loyalty, price, attributes
  • Business growth is through increase penetration (get more customers) and not about incresing purchase frequency or volume (getting your current customers to buy more or getting them more loyal)
  • Consumers buy from a small set of brands. Very few 100% loyalty
  • Bass model of diffusion of innovations
  • Logit model (attractiveness increase market share)
  • Dirichlet model (Big brands and small brands)
  • Increasing advertising weight alone is unlikely to increase sales
  • Increase in price advertising leads to higher sensitivity among consumers
  • Advertised promotions can increase store traffic
  • Relationship between brand share and retail distribution is convex. High brand shares have more share points per point of distribution

These points have been taken from Advanced B2B lecture slides week 1

online marketing, marketing jobs, business marketing, plan marketing, marketing management, what is marketing, marketing strategy, marketing manager, marketing digital, marketing social, online marketing products, online marketing efamous, b2b online marketing, b2b socialmediagroup, poster myprinting, druckerpatronen markt24, internet marketing, jobs online marketing, online marketing business, online marketing manager, jobs in marketing, sales marketing jobs, sales and marketing, online marketing jobs, online marketing, marketing jobs london, sports marketing, sports marketing jobs, digital marketing jobs, digital marketing, small business marketing, business and marketing, business marketing management, business marketing plan, business marketing jobs, business marketing online, business marketing ideas, marketing ideas, marketing degree, business marketing degree online marketing, marketing jobs, business marketing, plan marketing, marketing management, what is marketing, marketing strategy, marketing manager, marketing digital, marketing social, online marketing products, online marketing efamous, b2b online marketing, b2b socialmediagroup, poster myprinting, druckerpatronen markt24, internet marketing, jobs online marketing, online marketing business, online marketing manager, jobs in marketing, sales marketing jobs, sales and marketing, online marketing jobs, online marketing, marketing jobs london, sports marketing, sports marketing jobs, digital marketing jobs, digital marketing, small business marketing, business and marketing, business marketing management, business marketing plan, business marketing jobs, business marketing online, business marketing ideas, marketing ideas, marketing degree, business marketing degree