Business Marketing - influences on marketing Flashcards
what are factors influencing customer choice
- psychological
- sociocultural
- economic
- government
what are psychological factors influencing consumer choice
personal characteristics of an individual that influence their behaviours
- motivation + attitude + personality + perceptions
what are sociocultural factors influencing consumer choice
those that relate to the cultural background + socioeconomic status of an individual
- national + ethic + religious
- income level + occupation + level of education
what are economic factors influencing consumer choice
individuals willingness or ability to buy products, such as interest rates + disposable income level
if interest rates are low, people usually are willing to consume
what are government factors influencing consumer choice
laws + regulations affecting individuals willingness to buy products
- age restrictions (alcohol + tabacco)
- censorship warnings
what are the consumer laws
- deceptive and misleading advertising
- price discrimination
- implied conditions
- warranties
consumer law
designed to protect all consumers , limiting the power and dictate the ethical requirements of marketing campaigns
what are deceptive and misleading advertising (consumer laws)
- giving misleading information about a products feature, content or place of manufacture
- overstating benefits
- offering non-existent discounts or specials
- “bait and switch”
what is price discrimination (consumer laws)
businesses are not allowed to offer different prices to different retailers for identical products
–> encouraging fair trading practices and competitive behaviour
only way of offering reduced rates is on the basis of bulk discount
what are implied conditions (consumer laws)
features which a consumer could reasonably assume a product will possess . this includes;
- merchantable quality
- fit for purpose
- match the descriptions
what are warranties (consumer laws)
firm must by law refund or exchange goods if it is deemed to have been faulty at the time it left the store
–> links with operations
what are ethical issues with marketing
- truth, accuracy and good taste in advertising
- products that may damage health
- sugging
- engaging in fair competition
what is truth , accuracy and good taste in advertising (ethical issues)
marketers are expected to engage in fair and honest behaviour when developing its marketing campaign, failure to do so may result in a breach of the competition and consumer act 2010 (Cth)
what is good taste and case study (ethical issues)
it is the image, theme and tactics that should be used in advertising
Fast Food : advertisements target children using tactics such as giving a free toy with means
what is products that may damage health (ethical issues)
relates to the dangerous or unhealthy products and how they are marketed
–> there are laws that affect promotions such as cigarettes or alcohol
when advertising products that damage health, there are ethics that influence the marketing promotion
E.g. avoid running advertisements during time slots that children are exposed to
