mktg1001 wk4 - MKTG1001: Semester 1 Marketing Principles...

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Unformatted text preview: MKTG1001: Semester 1 Marketing Principles This week C onsum ers and their behaviour (C B ) (CB = Consum er Behaviour) Chapter 5 Please note : That we have skipped Ch4, which we will address after the mid- semester exam, as per the Unit Outline MKTG1001: Semester 1 About Victoria Bitter (VB) Its th e le a d in g fu ll s tre n g th b e e r in A u s tra lia One of Fosters around 200 brands, others are: It has 16% share of packaged beer, and a 25% share overall Carlton Dry Cascade Bitter Corona Crown Lager Fosters Pure Blonde Plus wine and spirits A M i n i C a s e S t u d y MKTG1001: Semester 1 T ra d itio n a lly ta rg e te d a t m a le s w ith w o r k in g c la ss v a lu e s TVC from 1984 Note images of: Sport Factory work Army Farming Blokes together Slogan = For a hard- earned thirst MKTG1001: Semester 1 Environmental Changes N e w c o m p e titio n , m u c h b ro a d e r c h o ic e o f a lc o h o l A s a le a d in g b ra n d , e x p e c te d to p ro m o te re s p o n s ib le d rin k in g C h an g e in w o rk in g class v iew , less p eo p le in th ese jo b s, an d are m o re asp iratio n al M en are less trad itio n al th an p o rtray ed in 1 9 8 4 MKTG1001: Semester 1 Challenge is... Maintain Leadership Using CB A k e y m o tiv a tio n to p u rc h a s e is a s e n s e o f b e lo n g in g R e fe re n c e g ro u p s u s e m e m b e rs h ip a n d a s p ira tio n a l g ro u p s C u t th ro u g h ad v ertisin g clu tter w ith h u m o u r w h at th e firm d escrib ed as b lo k e h u m o u r Series of new TVCs were created in 2004 MKTG1001: Semester 1 An Internet World T a p in to o p in io n le a d e rs U se viral m arketing (W-O-M ) Keep brand identity but get consumers more involved in brand Initially internet only make own music video get ringtone send to friend MKTG1001: Semester 1 Therefore Challenge is to keep the emotional connection to the target market Adapt, but stay within brand boundaries Hit key points motivation of belonging, how to get attention, continue to stay current (not yesterdays beer) All the above means Need to really understand consumers and their lifestyles MKTG1001: Semester 1 What is CB? Understanding customers How they think How they are influenced How they make decisions Better meet their needs Improve strategy and marketing mix Make more $s MKTG1001: Semester 1 Inputs Process Outputs (Figure 5.1) Marketing mix of all firms Macro environment Product purchases Brand preferences Consumer knowledge Life experience The consumer MKTG1001: Semester 1 Figure 5.2 Purchase and brand decisions, modified by experience MKTG1001: Semester 1...
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mktg1001 wk4 - MKTG1001: Semester 1 Marketing Principles...

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