MAR3001 Consumer Behaviour Learning Journal #1

In the first session today, the individual and group assignments were addressed while we became acquainted with the fundamental basics of consumer behaviour. According to the slides (2021), the study of consuming is known as consumer behaviour. Its goal is to gain a better understanding of consumer actions and processes in making purchasing decisions, as well as product and service usage and disposal.


We have also taken note that consumer behaviour is a vital part of marketing. The CRM system especially plays a major role in attracting customers and retaining them. This system enables the company to collect data and purchases behaviour in order to optimise customer's acquisition and generate promotion and sales accordingly. 


The core theory of consumer behaviour lies in the Engel, Kollatt, and Blackwell (EKB) decision making model. The model starts with problem recognition, where the consumer is knowingly or unknowingly searching for something. Then comes the information search, where rates and reviews relating to the product of interest is sought for. The third step is the evaluation of alternatives. This is where consumers compare products and experience before deciding to purchase, which is the fourth part. The last section is where consumer's impression of the product is voiced in ratings and reviews. 


Thus far, we have also focused on literature reviews on the influence on consumer behavior. The ideas generally stem into how much value can the customer obtain from acquiring a product and in what ways  can it be done. Moreover, as technology continues to become a staple part of our lives, our decisions will continue to revolve around it. Like word-of-mouth spreading back in the days, now it is done virtually through local or global influencers. At times, one might not think that they are being convinced but as the marketing strategies of viral challenges and products are being endorsed by influential people, it further attracts the attention of the consumer into thinking ‘maybe I should give it a try and see how it goes’. 


Neubert, M. (2021). MAR3001 Presentation Part 1 [Powerpoint Presentation]., (p.11). Zurich.




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