Marketing Final

Marketing Final - Marketing Final 1 What businesses look...

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Marketing Final 1. What businesses look for a. Interpersonal communication skills b. Team work c. Honesty d. Core competency 2. Consumer decision making process a. Need recognition b. Info search b.i. Evoked set - final set of considerations c. Evaluation d. Purchase e. Post purchase behavior e.i. Cognitive dissonance – self doubt following purchase e.ii. 2 ways to remove cognitive dissonance e.ii.1. customer can go back and analyze purchase e.ii.2. seek approval 3. Persuasion - conscious attempt to modify the thoughts and actions of consumer and bring them to a predetermined goal 4. Persuasion continuum a. Lost time ----------------0--------------Loyal b. Figure out where a person is on the continuum and decide how to approach them c. Appeals c.i. Logical- facts, numbers (logos) c.ii. Emotional (pathos) c.iii. Ethical (ethos) d. Make sure you don’t offend e. EXAMPLE e.i. Harley Davidson e.i.1. They had a set of loyal customers e.i.2. Tailored new bike for upper, white collar people and sold them so that they would too become loyal customers e.i.3. Tough bikers got mad because rich guys aren’t tough and rugged 5. Product life cycle a. Introduction b. Growth c. Maturity d. Decline e. Extension 6. Introductory a. Price b. Promotion c. P and G introduce new car and flood the market
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d. Mercedes business decisions d.i. President spent Mercedes money for private trip and was fired d.ii. Stress ethics 7. Package a. Used to differentiate from other products b. Razr making come back?
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