Session 8 - MG 220 MBA - 16 Sep 10

Session 8 - MG 220 MBA - 16 Sep 10 - MG 220 Marketing...

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> Click to edit Master subtitle style MG 220 Marketing Management MBA 10 Fall 2010 Muhammad Talha Salam, Asst. Professor [email protected] Access it online: www.slideshare.net/talhasalam Class Presentation | Session 8 | 16 Sep 2010 Part 3: Connecting with Customers > What influences Consumer Behavior > Key Psychological Processes > Apple Ad Campaign > Discussion on Case Studies for Marketing > Quiz 2 (Part 2: Session 4 - 6)
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MG 220 Marketing Management Access it online: www.slideshare.net/talhasalam What Influences Consumer Behavior Understanding the Theory and Realities of Consumer Behavior A key part of Marketing Consumer’s buying behavior is influenced by: Cultural Factors Social Factors Personal Factors MG 220 Marketing Management 22
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MG 220 Marketing Management Access it online: www.slideshare.net/talhasalam What Influences Consumer Behavior Cultural Factors Culture, Subculture & Social Class: 3 important variables Culture is fundamental determinant of a person’s wants and behavior Set of values, perceptions, preferences, and behaviors through his or her family or other institutions MG 220 Marketing Management 33
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MG 220 Marketing Management Access it online: www.slideshare.net/talhasalam What Influences Consumer Behavior Cultural Factors Each Culture has smaller Subcultures giving more specific identification and socialization Significantly affluent Subcultures => considering marketing accordingly i.e. multicultural marketing Multilingual services by Telenor, Mobilink MG 220 Marketing Management 44
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MG 220 Marketing Management Access it online: www.slideshare.net/talhasalam What Influences Consumer Behavior Cultural Factors Social Stratification – strata(s) in society Social Classes – relatively homogenous and enduring divisions in each society , which are hierarchically organized and whose members share similar values, interests and behavior Characteristics: Tend to behave similarly Defines position in society Defined by many variables together (no one variable to define it) Individuals move up or down in classes MG 220 Marketing Management 55
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MG 220 Marketing Management Access it online: www.slideshare.net/talhasalam What Influences Consumer Behavior Social Factors Reference Groups consist of all groups that have a direct (face-to-face) or indirect influence on his/her attitudes or behavior Primary Groups – more interactivity, informal ( Family, friends ) Secondary Groups – Less interactivity, formal ( religious, political ) Important Groups to which people do not belong Aspirational Group – A person hopes to join Dissociative Group – Whose value a person rejects MG 220 Marketing Management 66
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