Consumer Behavior Concepts and the Retention of Product Knowledge Research Paper by Nicky

A look at the relationship of consumer behavior to brand loyalty.
# 151200 | 2,905 words | 16 sources | MLA | 2012 | US
Published on May 29, 2012 in Computer and Technology (Technology) , Business (Consumer Behavior)


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Description:

This paper examines how consumer behavior concepts that contribute to values-based and trust-based judgments as to the ethicacy and accuracy of product knowledge lead to brand loyalty over time. It also considers the extent to which individuals trust companies for product information and use the knowledge to streamline purchasing decisions. The paper also discusses how values, as the fundamental element of consumer behavior, influence beliefs, attitudes, action and eventually loyalty over time. Additionally, the paper notes that for any company to survive and stay relevant, its very structure must also align to the values and behaviors of the customers it chooses to serve. It also explores how the consumer decision process is a useful construct for evaluating the reciprocal role of values between consumers and their loyalty to brands over time. Next, the paper addresses the importance of trust when consumers make decisions, particularly if they are planning to change products. Finally, the paper describes how social networking impacts consumer decisions today. A paper is included in the paper.

Outline:

Introduction
Values in Consumer Behavior
Customers Demand Branding Based on Values Not Promises
Consumer Behavior's Role in Value Creation
Trust as the Catalyst of Behavioral Change in Consumers
Consumer Behavior in a Web 2.0 World
Conclusion

From the Paper:

"The foundational element of consumer behavior is values, as they influence beliefs, attitudes, action and eventually loyalty over time. In the context of consumer behavior, values can be defined as concepts or beliefs about desired goal or end states or behaviors that are used in the evaluation of potential future behaviors over time (Walls, 1409). Values within the context of consumer behavior are also directly defined by the initiatives, strategies and programs initiated by companies over time via their brands to attempt to create values-based congruence with consumers. The extent to which attitude-behavior consistency is achieved by consistency of execution on the part of companies is often nurtured through trial-size products and test drive promotional programs (Fabrigar, Petty, Smith, Crites, 557). These programs are often successful when marketers have taken the time to ensure values-based congruence with their prospects has been achieved and they are careful to ensure consistency and transparency of strategy execution over time. Only through consistency of execution over time can any company expect to have their brands' value be in alignment with those of prospects, customers and the most loyal of their customer segments..."

Sample of Sources Used:

  • Bernoff, J., and C. Li. "Harnessing the Power of the Oh-So-Social Web. " MIT Sloan Management Review 49.3 (2008): 36.
  • John Blasberg, Vijay Vishwanath, James Allen. "Tools for converting consumers into advocates " Strategy & Leadership 36.2 (2008): 16-23.
  • Day, George S. "The capabilities of market-driven organizations. " Journal of Marketing 58.4 (1994): 37-52.
  • Joseph De Avila. "Why Some Apple Fans Won't Buy the iPhone. " Wall Street Journal 12 Sep. 2007, Eastern edition:
  • De Chernatony, L., & McDonald, M. Creating powerful brands (2nd ed.). 1998. Oxford: Butterworth-Heinemann

Cite this Research Paper:

APA Format

Consumer Behavior Concepts and the Retention of Product Knowledge (2012, May 29) Retrieved February 06, 2023, from https://www.academon.com/research-paper/consumer-behavior-concepts-and-the-retention-of-product-knowledge-151200/

MLA Format

"Consumer Behavior Concepts and the Retention of Product Knowledge" 29 May 2012. Web. 06 February. 2023. <https://www.academon.com/research-paper/consumer-behavior-concepts-and-the-retention-of-product-knowledge-151200/>

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