Marketing Flashcards
Marketing - what is it about?
Customers: . How to find them . How to satisfy them . How to persuade them . How to keep them
“Marketing is a process by which individuals and groups obtain what they need and want through creating and exchanging products and value with each other” (kotler,1984)
Marketing as a process —
What is our business?
Who are our customers?
What and why are they buying ?
What is value to them?
(Actual and potential)
Marketing analysis :
. Trends and conditions in the market place
. Identity unmet consumers needs and wants
Planning:
. Target market segmentation
. Marketing mix determination
IMPORTANCE OF UNDERSTANDING CONSUMER BEHAVIOUR
Implementation ( marketing as a process continued)
Four key elements (McCarthy 1960)
Plus 3 (booms & bitner,1981)
Product- what to offer
Price- how much to change for it
Place- how and where people can buy it
Promotion- how to communicate with people about it
People- the way staff interact with customers
Process-the systems that ensure that customer satisfaction is delivered
Physical evidence:the tangible elements of an intangible product
Marketing for events
Events are:
. Intangible, perishable, inseparable, variable
. Competing for the customers spare time and disposable income
. What we sell is a promise
. Emotions at the centre of the experience
- Consumer behaviour theory
Maslow needs
Food, water,sleep,proctection, security, companionship, friendship
Love, accomplishment, self-respect, prestige, self-fulfilment, enriching experiences
- Consumer behaviour theory
Murrays needs
Recognition, aggression, autonomy, deference, affiliation, in-avoidance, harm avoidance
Achievement, ownership, sentience, exhibition, succorance, understanding, order
Rejection, counteraction, dominance, nuturance, defendance, play
Approaches: behaviourist model
. Consumer behaviour is influenced by the environment
. Concentration is on observing what happens (inputs and outputs) and not on the thought process
. The determinants of behaviour must be sought in the environment rather than within the individual
. Emphasis on:
. Marketing effort as a reinforcer
. Important of situation
. Repetitive nature of many buying decisions
Approaches: Information processing model
.stimulas - organism - response theories
.consumer behaviour is high cognitive, rational, systematic, and reasoned
. Consumers are viewed as rational beings who systematically utilise and process the information made available to them
. Concentration on the intra-personal processes
(Engel, Blackwell, and miniard,1995, Howard and sheth, 1969, rogers,1995)
Approaches : Hedonic/experiential model
Fun
Fantasies
Feelings
(Hirshman and holbrook,1982)
Individual decision making :
(Engel,Blackwell and miniard, 1995)
Howard and sheth, 1969)
Buyer behaviour viewed as a process
Need (problem) recognition-information search-evaluation of alternatives-purchase decision-post-purchase behaviour
Buyer behaviour influenced by
. Psychological factors
. Cultural factors
. Social factors
. Personal factors
Three types of buying situations
Solomon,2007
.habitual problem solving
.limited problem solving
. Extended problem solving
- Joint decision making
Families/households come in many different configurations so it is difficult to identify average family/household decision making
2.joint decision making
Loudon and Della bitta,1993
Family households: . Married couples . Married with kids at home . Married with no kids at home . Single fathers . Single mothers . Other families Non-family households . Men living alone . Woman living alone . Other nonfamilies
