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
- Joint decision-making
Some household trends: . Size has shrunk . Later marriage . 2-career families . Increase in non family households
Relative influence of decision making
Family influence- children
- Organisational decision making:
Buying behaviour
. The business market is vast and involves far more £ that do consumer markets
. Business buyer behaviour refers to the buying behaviour of the organisations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.
- Organisational buying behaviour
Solomon,2007
Business market characteristics . Fewer buyers and larger buyers . Close suppliers-customer relationship . Professional purchasing . Several buying influences . Multiple sales calls Business buyers usually face more complex buying decisions
Business buying process tends to be more formalised
