chapter 1 consumer behavior and marketing M405

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chapter 1 consumer behavior and marketing M405
2015-07-08 13:16:14
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  1. 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)
  2. 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
  3. Market Segmentation
    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
  4. 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
  5. conceptual model
    we use to capture the general structure and process of consumer behavior and to organize this text