MBA 655 (Consumer Behavior) is about managerial application of the principles of consumer behavior, with an emphasis on consumer psychology. For firms that sell products and services that are purchased by consumers, the ultimate determinant of sales and profitability is consumer behavior. Managers are most successful when they can successfully predict the behavioral responses of consumers to the managerial actions under consideration. For example, will consumers like the new product we’re developing? How would consumers react to a decrease in price if it is accompanied by a decrease in product quality? How will consumers respond to the firm’s advertisements? Without an understanding of why consumers behave as they do, managers are left to simply guess at the answers to such questions.
Fortunately, consumer behavior principles have been studied for decades by researchers, and a detailed (albeit incomplete) understanding of consumers exists. Managers who are aware of the theories and findings from consumer behavior research are better able to predict and anticipate consumer behavior, allowing these managers to make better decisions.
Any graduate student who wants to take the class is welcome. That said, the class is designed for students who will work in consumer-oriented industries. That includes CPG, but it encompasses far more than that. The theories we will cover are relevant to people working in consumer durables (e.g., automobiles), consumer services (e.g., consumer financials like credit cards), online retailers, and more. In short, this class will be most useful to you if your career will be consumer-oriented in some way. But, again, all are welcome.
Class Topics
» Theories of Self
» Reference Groups
» Cultural Meaning in Products
» Possessions as Extensions of Self
» Individual Differences
» Gift Giving
» Reciprocity
» Perceived Risk
» Conditioning
» Memory
» Exposure
» Attention
» Just Noticable Differences
» Semiotics
» Comprehension
» Information Processing Model of Persuasion
» Multiattribute Models of Persuasion
» Cognitive Response Model of Persuasion
» Elaboration Likelihood Model of Persuasion
» Attitude toward the Ad
» Persuasion Knowledge Model
» Emotions in Choice and Consumption
» Decision Making
» Customer Satisfaction
– Eric DeRosia