Consumer Behaviour

Information

Understanding consumers is the key to a successful marketing strategy. Unfortunately, however, the mind of the consumer is not always easy to understand. This course provides an overview of theories that best explain how consumers arrive at their judgments and decisions. The course will review relevant theories from economics and psychology that provide a foundation for behavioural marketing. Consumer behaviour varies greatly depending on a range of factors. For instance, consumers’ judgments and decisions are influenced by the market environment (e.g., retail vs. online), the type of consumer (e.g., older vs. younger), and the type of product (e.g., hedonic vs. utilitarian goods), just to name a few. Although it is impossible to fully grasp and predict this behaviour, consumer researchers have created a body of knowledge that allows us to achieve at least a basic understanding of consumer needs, wants, decisions and actions. This course will provide a structured overview of this body of knowledge. In the first part of the course, students will be provided with an introduction to the psychology of perception, information processing, emotions and decision-making. The second part of the course will elaborate on the influences of the social environment, culture and situational factors on consumer behaviour. Additionally, the second part of this course will apply these theories and principles to real-world marketing problems.