Please use these questions to guide your preparation. You do not need to turn in your answers
[UConn] = requires a UConn NetID to access. [MM] = readings from Iacobucci 2018 Marketing Management. [VPD] = readings from Osterwalder et al 2014 Value Proposition Design
[MM] Chapter 2: Customer Behavior (2-1, 2-2, 2-3c, 2-3d)
- 2-1 Three phases of the purchase process
- Identify the three phases of the purchase process and describe customer behaviors in each phase
- Define a consideration set
- Define the acronyms B2C and B2B
- 2-2 Different kinds of purchases
- What terms do marketers use to describe different types of B2C and B2B purchases?
- What differentiates the different types of purchases? Can the same product be a convenience, shopping and specialty purchase for the same consumer? Why or why not?
- Explain how defining these types of purchases might be useful for marketers?
- 2-3c Motivation
- Describe Maslow’s Hierarchy of Needs and explain how is it useful for marketers
- 2-3d Attitudes and decision making
- Define the two conceptual components of an attitude
- Explain how marketers might try to influence people’s attitudes
- Explain how researchers theorize decision-making happens when customers face many choices
[UConn] Court et al (McKinsey) 2009 “The Consumer Decision Journey”
- In one sentence, what is the key idea about customer behavior underlying the funnel metaphor? (hint see Exhibit 1).
- Define a “touch point” (hint see second paragraph)
- Define the four phases of the “Customer decision journey” (Hint see exhibit 2)
- What is the “loyalty loop”?
- Where do the authors claim the funnel metaphor can still be helpful? Where are three areas where they claim it will now it lead marketers astray? In those areas, what do they claim about customer behavior? Do you buy their argument? Why or why not?
- How might you integrate the concepts in this article with the concepts in the Iacobucci textbook?
[VPD] “Canvas: Customer Profile and Value Map”, pp. 3-39
- Describe a customer profile and its components.
- Describe the steps and best practices to map a customer profile.
- Describe a value map and its components
- Describe the steps and best practices to create a value map.