MKMC.5605 Consumer Behavior
Business success begins with understanding what consumers want and need, and ends with consumer satisfaction, so a clear understanding of consumer behavior is essential to successful marketing. This course examines the basic concepts of consumer psychology and the application of those important concepts to marketing decisions. The goal of this course is to introduce students to these important concepts, review conceptual models and empirical research in consumer behavior, and focus on the factors that drive the consumer decision-making processes. In this way, students will understand how marketing strategies and tactics can affect those processes. The course explores consumer characteristics, the influences of perceptions and attitudes on consumer choice, and the influence of culture, family and unique situations on consumer behavior. Topics covered include the formation of attitudes, the role of self-image in consumer behavior, understanding emotions and how they affect decision making, decision processes, social and cultural influences, information processing and ethical issues. The course is built on a lecture and discussion format, and is supplemented by readings, discussion of current events and real world case analysis. Upon successful completion of this course, students will (a) understand the basic drivers of consumer behavior, (b) be able to produce a thorough understanding of consumer decision processes and how this can be harnessed to create effective marketing strategies, (c) anticipate consumer reactions to marketing tactics and understand how to enhance the effectiveness of marketing tactics, and (d) understand the relevance to market segmentation, product positioning, product development and promotion.