Class 2: Navigating the Modern Consumer Landscape (Slide 35 - End)

Key Topics:

• Motivation: The Engine of Consumer Behavior: We delved into the psychology of motivation, differentiating between:
• Utilitarian Motives: Fulfilling practical needs and seeking functional benefits.
• Hedonic Motives: Driven by emotions, experiences, and sensory pleasure. We debated whether marketers create artificial needs, concluding that while they don't invent needs, they do raise awareness of how their products fulfill existing ones.
• The "Always On" Consumer: Tech's Impact: The digital revolution has ushered in the era of the "always on" consumer. We explored the unique characteristics of:
• Digital Natives: Individuals who grew up immersed in technology.
• Digital Immigrants: Those who adopted technology later in life. We stressed the importance of tailoring marketing strategies to engage both groups effectively.
• Perspectives on Consumer Behavior: We wrapped up by discussing differing viewpoints on understanding consumer behavior:
• Positivist Approach: Emphasizes objectivity, data analysis, and the consumer as a rational decision-maker.
• Interpretivist Approach: Focuses on subjective experiences, individual interpretations, and the cultural influences shaping consumption. 

Real-World Examples: We examined how brands adapt to the digitally savvy consumer, citing examples like temporary retail experiences (Jacquemus, Zara, Adidas) designed to create buzz and engagement. This connects to the Experience Economy, where consumers seek memorable events and interactions alongside tangible products. 

Class 1: Decoding the Consumer (Slides 1-34)

Key Topics:

• Consumer Behavior as a Process: Definition of consumer behavior as a dynamic process encompassing pre-purchase, purchase, and post-purchase stages. We established that consumers aren't just individuals; they can be groups, organizations, and even play different roles influencing purchase decisions. This relates to the Role Theory, where individuals adopt consumer roles based on context.

• Market Segmentation:  We then explored the critical concept of market segmentation, emphasizing the need for marketers to understand the unique wants and needs of different consumer groups. We dove deep into segmentation variables, using real-world examples:
  
  
• Demographics: Analyzed age-based marketing, questioning the relevance of strictly gendered marketing in today's world. Discussed how income levels influence brand choices, referencing various brands and hotel possibilities like those under the Accor Hotels umbrella.
• Geographics: Analyzed market segments according to consumers' place of origin
• Psychographic: Examined how brands like The North Face leverage lifestyles to target consumers effectively.
• Behavioral: Examined how brands like Pillsbury leverage occasions and context to target consumers effectively.

• Consumer-Brand Relationships: We discussed how consumers form deep connections with brands, going beyond mere transactions. This touches on theories of Brand Attachment – nostalgic attachment (Lego x Friends), self-concept attachment (choosing brands that align with personal identity), and even interdependence, where products become integral to daily routines. 

Real-World Examples: We analyzed the Rhode Beauty brand, highlighting their savvy use of influencer marketing (Hailey Bieber) and product innovation to capture consumer interest. Examples like the Hello Kitty bullet train and the Travis Scott x Fortnite collaboration demonstrated the interplay between consumer culture and brand strategy.