marketing class midterm review

Characteristics and decision process buyer response

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(characteristics and decision process) buyer response (attitude and preference, behavior, brand-consumer relationship) c. Factors influencing consumer behavior: cultural (values), social (reference group), personal age and life cycle, psychological (motivation, perception, beliefs) // American social classes (upper, middle, lower – income) d. Word-of-mouth influence and buzz marketing opinion leaders / online social networks 6) CHAPTER 6 – check out Greco’s email for the powerpoint 7) CHAPTER 7 a. Market segmentation: dividing the market b. Segmentation, targeting, differentiation, positioning makes up target customers c. Segmenting consumer markets, business markets, international markets – requirements for effective segmentation d. Geographic (region), demographic, psychographic, behavioral segmentation e. Age, gender, income, psychographic (social class, lifestyle), behavioral (occasions, benefits sought, user status, usage rate, loyalty) f. Multiple segmentation – identifying smaller, more defined groups (women, 25-34, east coast, rich) – PRIZM NE g. Effective segmentation: measurable, accessible, substantial, differentiable, actionable h. Segment size and growth, structural attractiveness, objectives and resources 8) CHAPTER 8 – products, services, and brands a. Product: item, tangible / service: activity, intangible / experience: what buying product will do for customer b.
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