chapter 1 consumer behavior and marketing M405
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Applications in consumer behavior
- marketing strategy- using a market analysis and finding a target market.
- Regulatory Policy - something to protect the consumers
- Social Marketing- created behaviors that is good for the environment
- Informed individuals- most economies are considered consumption societies. (most of the time ppl spend there time consumption, than any other activity)
Marketing Analysis Components
- Consumer- understand the consumer needs
- company- can we meet the needs
- competitors- can we do better job
- conditions- what's going on in the economy
is a portion of a larger market whose needs differ somewhat from the larger market. Since a market segment has unique needs, a firm that focus on solely meeting the market needs
Marketing Strategy (how will we provided superior customer value to our target market?)
- product- anything the consumer acquires or might acquire to meet a perceived need
- communication- advertising, the sale force, public relations, packaging,and any other signal that the firm provides about itself and its product.
- price- the amount of money one must pay to obtain the rights to use the product. (consumer cost- everthing the consumer must surrender in order to receive the benefit of product)
- distribution- having the product available where target customer can buy it
- service- activities that are performed to enhance the product or service
we use to capture the general structure and process of consumer behavior and to organize this text
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