chapter 1 consumer behavior and marketing M405

• 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)

• 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

• 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