Professional Documents
Culture Documents
The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.
consumption
Physical Activities undertaken to Acquire and Consume the Products and Services so as to fulfill Needs and Wants.
making other marketing decisions; Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.
2. ResourcesSomething that others value 3. ValueSum total of all benefits we receive from a
product
Five Resources:
Products
Consumer knowledge
Importance of consumer knowledge
Knowledge shapes inferences about unknown
salespeople
Purchase knowledge
Consumption and usage knowledge Persuasion knowledge Self-knowledge
Product knowledge
Represents information stored in consumers memory about products
Product knowledge
Whether the consumer is aware of the brand or not is the most fundamental aspect of brand knowledge
Assessing awareness
Recall: which brands can be retrieved from memory Top-of-the-mind awareness: the particular brand that is remembered first Recognition: identify familiar brands from a list Choosing the best indicator of knowledge depends on whether consumers construct their consideration sets based on recall or recognition
Purchase knowledge
Encompasses the various pieces of information
consumers price knowledge and what consumers know about their competitors prices (relative price knowledge)
When to buy?
Knowledge about when a product typically goes
on sale may delay purchase May determine when new innovations are purchased many consumers do not purchase new innovations when introduced because they believe the price will drop over time
Where to buy?
Knowledge about where to buy a product guides
purchase decisions and from whom to buy. Includes knowledge about where product is located in the store when consumers are unfamiliar with store layout, they rely more on instore information
how a product can be consumed and what is required to actually use it.
Consumers are unlikely to buy a product when
Persuasion knowledge
Information about what consumers know about
Self-knowledge
A persons understanding of ones own mental
processes.
Can the consumer accurately assess and report
with suspicion.
Consumers have more faith in personal
MARKETING STRATEGY
OUTCOMES
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Market Segmentation
Product-related need sets
Segments: customers with similar
Communications
Price
Distribution
Service
Outcomes
Firm
Product position/perception
Sales
Customer satisfaction
Individual
Need satisfaction
Injurious consumption
Society
Economic
Physical environment Social welfare
Market Segmentation
Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes.
Demographic segmentation
Most popular segmentation
Psychographic segmentation
Lifestyle, social class, and personality-based
Operating variables
Technology, usage status, customer capabilities
Personal characteristics
Buyer-seller similarity, attitudes toward risk,
loyalty
Message
Channel
Receiver (Consumer)
Feedback
- make the consumer aware of the product or service - induce purchase or commitment - create a positive attitude toward the product - give the product a symbolic meaning, or show how it can solve the consumers problem better than a competitive product.
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