01_Introduction_and_the_Study_of_Consumer_Behavior_S1

01_Introduction_and_the_Study_of_Consumer_Behavior_S1 -...

Info iconThis preview shows pages 1–11. Sign up to view the full content.

View Full Document Right Arrow Icon
Introduction and the Study of Consumer Behavior
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
What Is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. 2
Background image of page 2
What Is Marketing Management? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value . 3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
What is Marketed? Goods Services Events Experiences Persons Places Properties Organizations Information Ideas 4
Background image of page 4
Marketing Process Analyze marketing opportunities Select target markets Design marketing strategies Develop marketing programs Manage the marketing effort 5
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Core Marketing Concepts Needs, wants, and demands Target markets, positioning, and segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment 6
Background image of page 6
Needs, Wants, and Demand Needs —basic human requirements. Wants —directed to specific objects that might satisfy the need. Demands —wants for specific products backed by an ability to pay. 7
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Target Markets, Positioning, and Segmentation (STP) Segmentation —identify and profile distinct groups of buyers examining demographic, psychographic, and behavioral differences. Target markets —segments presenting the greatest opportunity. Positioning —what the offering means in the minds of the target buyers as delivering some central benefit(s). 8
Background image of page 8
Offerings and Brands Value proposition —a set of benefits offered to satisfy customers’ needs. Offering —a combination of products, services, information, and experiences. Brand —an offering from a known source. 9
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Value —the sum of the perceived tangible and intangible benefits and costs to customers. Satisfaction —a person’s comparative judgment of a product’s perceived performance (or outcome) in relation to expectation. 10
Background image of page 10
Image of page 11
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 44

01_Introduction_and_the_Study_of_Consumer_Behavior_S1 -...

This preview shows document pages 1 - 11. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online