Consumer Behavior: Understanding Millenial Market Dynamics

The Consumer Behavior course at NUCB Business School, taught by Professor Gyung Yeol Yang, is designed to provide students with an in-depth understanding of how consumers make purchasing decisions and how businesses can adapt to these insights. The course explores fundamental marketing concepts that guide companies in understanding what their customers want and need, enabling them to offer products and services that resonate with their target audiences. By using diverse case studies, students develop critical thinking skills in analyzing consumer behavior, which helps them craft marketing strategies that drive success in a constantly changing business environment.

The first day of the course introduces Millennials' consumer behavior and consumer co-creation. Students examine how brands, such as De Beers and Tchibo, are successfully marketing to Millennials by recognizing their unique expectations and desires. De Beers' case on selling diamonds to Millennials focuses on adapting traditional luxury marketing strategies to a younger, socially conscious audience, while Tchibo Ideas shows how leveraging customer creativity can drive innovation and engagement. This day sets the stage for students to understand how consumer behavior is influenced by cultural shifts and evolving expectations.

By the end of the course, students gain practical knowledge in understanding consumer behavior and how to apply these insights in developing effective marketing strategies. Professor Yang’s extensive experience in the marketing industry, including roles at Cheil and Samsung, enriches the course with real-world examples and provides students with a broader perspective on how global marketing strategies can be tailored to meet the needs of diverse consumer segments. The course equips future marketers with the skills to analyze market trends, consumer expectations, and make data-driven decisions that enhance customer satisfaction and business performance.