Chapter_5MKT[1] - Chapter 5 Demographics dont necessarily...

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Chapter 5 Demographics don’t necessarily explain why consumers behave as they do, so marketers have turned to the social and behavioral sciences in order to consider the full range of buying influences. Economic needs affect most buying decisions. Economic buyers: have all facts, make logical choices to purchase goods that best fulfill needs. "Of course people will buy our product--each of its features is better than the competition." Too simplistic. Economic needs: needs concerned with making the best use of consumer’s time and money. Ie: Dependability in use, Economy of use, Convenience, Efficiency in use Marketers can't create internal drives in consumers. Needs: Needs: basic forces that motivate consumers to do something. Wants: learned needs. . Jo is status-oriented and only considers items with well-known "labels" that her friends will notice. Drive: a strong internal stimulus that encourages action to reduce a need. When a consumer purchases product Physiological needs: the most basic needs people experience. Must be satisfied first. Examples: biological needs for food, drink, and rest. Safety needs: concerned with protection and physical well-being. Examples: health, medicine, exercise. Social needs: derived from a person’s interactions with others. Examples: love, friendship, status. Personal needs: concerned with an individual’s need for personal satisfaction, unrelated to what others do. Examples: self-esteem, fun, and freedom. A higher level need may develop before lower level needs are satisfied; if lower level needs are reasonably satisfied, those at higher levels become more dominant; a particular product may satisfy 1+ needs simultaneously; all needs are never completely satisfied. When satisfying needs - total consumer satisfaction is unlikely; understand how marketing mix can satisfy set of needs, rather than only one; realize that one cannot create needs. Perception: how people gather/interpret information. How do people process incoming marketing mix stimuli. The volume is too great to process all information. 1.
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This note was uploaded on 03/29/2012 for the course BUSINESS S 4302 taught by Professor None during the Spring '11 term at University of Houston - Downtown.

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Chapter_5MKT[1] - Chapter 5 Demographics dont necessarily...

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