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2008 - Perception – Learning – Attitudes –...

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02/25/2008 Market Market Segmentation – Who might our customers be? Target Market – Who are they? Consumer Behavior - Why do they buy? Product Market Segment “..group(s) of potential customers with common characteristics that influence their buying decisions.” These are candidate target markets Market Segmentation Criteria Demographic – Age, marital status, gender, ethnic background, income, occupation, education Geographic – Climate, region, population density Psychographic – Lifestyle, AIOs (activities, interests, opinions) Behavioral – Attitudes toward product, user status, usage rate. (Nintendo Wii) Buying Process Need Recognition Information Search Evaluation Purchase Post-purchase Evaluation Influences On Buying Behavior Situational Factors Marketing Mix Psychological Motivation
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Unformatted text preview: Perception – Learning – Attitudes – Personality Social – Family – Reference Groups – Status – Culture – Sub-Culture Branding Simple: words, letters, sounds, or symbols that identify various competitors' products. Complex: creation of an identity/persona that distinguishes your products in the minds of target customers in ways important to them. Types of Brands Manufacturer/National Brands Private/Store/Dealer Brands Brand ______ Brain – Awareness – Associations – Image – Experience Action – Trial – <Rejection> – Preferences – Loyalty – Insistence Brand Equity Value of a Strong Brand For manufacturers/marketers For consumers Nike introduces sports nutrition supplements and beverages – Who would carry them? – Buy them?...
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