Create a profitable innovation by learning how to design a business model, price your product and create a successful sales process. Entrepreneurship 103 prepares you for the MIT Global Entrepreneurship Bootcamp!
Learn how to analyse and apply consumer and buyer behaviour fundamentals to develop an effective marketing campaign. For marketers, an understanding of how a consumer selects, purchases, uses and disposes of products and services is pertinent to successfully managing the marketing function. In this course, you will learn about the role of consumer behaviour within marketing. We will discuss how this behaviour is shaped by the social and cultural environment, as well as a number of psychological factors.
You will learn about decision-making processes in consumption behaviour in different buying situations. This will develop your ability to integrate marketing processes at a higher level.
Concepts drawn from various disciplines such as psychology, economics and anthropology will be examined.
What you'll learn
- Apply analytical tools to determine how culture, personality and lifestyle affect the behaviour of consumers and self
- Analyse how consumer attitudes are formed, and consumer opinions change in order to better understand your own and other’s personal consumption experiences
- Evaluate how different sources of group influences can affect and radically change consumers’ consumption
- Create specific marketing strategies that focus around what motivates consumers, what captures their attention and what retains their loyalty
Topic 1: Introduction to buyer behaviour
Basic consumer behaviour concepts such as consumer needs and wants and market segmentation, as well as a psychological approach to understanding consumer behaviour
Topic 2: Culture
How cultural diversity and differences influence the way that consumers make decisions
Topic 3: Consumer decision making
Individual decision-making processes to understand if consumers make rational decisions, or if there are systematic biases in the ways people make decisions
Topic 4: E-commerce buying behaviour
How buyers behave in an online environment and identifying online technologies within modern marketing
Topic 5: Perception and unconscious thought.
The consumer perception process, sensory marketing, semiotics and subliminal advertising techniques
Topic 6: Learning, memory and product positioning
How basic cognitive processes (e.g., attention, learning and memory, self-control, and emotions) shape consumer decision-making
Topic 7: Motivation and involvement
The motivational drivers towards behaviour and involvement with the product, the marketing message, and purchase situation
Topic 8: Attitude formation and change
The nature of attitudes, attitude development and persuasion techniques
Topic 9: Gender stereotypes and social identity
The consumer’s self-concept, gender identity, ideals of beauty and body decoration or mutilation
Topic 10: Consumer ethics and misbehaviour
How consumers' ethical concerns about business practices influence their purchase behaviour