UNIT 1 Flashcards
Marketing, what deos it do?
-It equalizes
-It engages. The audience wants to create a relationship with the company
-It sustains. Mantain the relationship
-It sells
-It grows
Consumers
Use the product
Economic entities that purchase goods or services
Are the end users of a product or service
Consumer and customers
Consumer uses
Customer buys
Consumer society
One in which people frequently buy new products or services, especially the ones that we don’t need to survive
Maslows Pyramid
Phisiological needs
Safety needs
Love needs
Steem needs
Auto realization
Categories of needs in MKT
- Stated needs. What your consumer is going to tell you what thy need
- Real needs. I need more information in order to know what you really want
- On Stated needs. Are the ones that you don’t needs to ask for. Something that you know youre gonna receive whiteout asking.
- Delight needs. Something that you’re gonna give to your consumer whiteout asking, something that you are giving for free.
- Secret needs.
Environment that affect human needs
Social factors
-Social awareness
Emotional factors
-Fear
-Desire
-What you like
Social pressure
Eight demand states in mkt
- Negative demand. Products that people dislike and they don’t wanna talk about it.
- Non existent demand.
- Latent demand. Demands that people realize later.
- Declining demand. Demands that people are less interested than before.
- Irregular demand. The selling is based on time.
- Unwholesome demand. Product or services that have a bad effect on the consumer.
- Full demand. The demand is the same that the offer.
- Over full demand. Ex. Gold. The demand is more than the supply.
Characteristics of goods
-Tangible
-Homogeneus
-Produced in factory
-Production, distribution and consumption separate and independent
-Consumers don’t generally participate in production
-Can be stored
Services
-Intangible
-Heterogeneous
-Produced in Buyer-Seller interaction
-Production, distribution and consumption takes place simultaneously
-Consumer participate in production
-Cannot be stored.
Classification of goods
> Free goods
Economic goods
Consumer goods
Capital goods
Classification of services
-Free services
Economic services
Consumer services
Pricing strategies
Imput or raw cost of the product
Variable cost
Production y distribution cost
Trade margin
Segment account
Consumers capability to pay
market prices of the same process
Competitors prices
Consumer behavior
Conduct shown when looking for acquiring, using, evaluating, and disputing products or services to satisfy needs.
Research applied to consumer behavior
