Exchange and Utility
The criteria needed for an exchange to occur:
Must have something of value to exchange
Need to be able to communicate
Must be able to exchange (under 21 drinking)
Must want to exchange
At least 2 people needed for an exchange to occur
Types of Consumer Buying Behavior
Types of consumer buying behavior are determined by:
Level of Involvement in purchase decision. Importance and intensity of
interest in a product in a particular situation.
Buyers level of involvement determines why he/sh
Consumer wants, learning, motives etc. are influenced by opinion leaders,
person's family, reference groups, social class and culture.
Spokespeople etc. Marketers try to attract opinion leaders.they actually
use (pay) spoke
Marketing plans vary by:
Method of Development, bottom up/top down
Objective is to create a Marketing plan. A plan for each marketing strategy
Marketing strategy encompasses selecting and analyzing the target
Strategic Market Planning
A Strategic marketing plan is an outline of the methods and resources required
to achieve organizational goals within a specific target market(s).
"Describes the direction [an organization] will pursue within its chosen
Role of Promotion
To communicate with individuals, groups or organizations to directly or
indirectly facilitate exchanges by informing and persuading one or more
audiences to accept an organization's products.
-Companies must communicate with
Categories that Effect the Consumer Buying Decision
A consumer, making a purchase decision will be affected by the following three
The marketer must be aware of these factors in order to develop an appropr
Selecting Promotional Tools
A marketer must do the following while planning and sending communications to a target audience:
1. Identify the Audience
Individuals, groups, special publics or the general public.
Intermediaries vs Consumer
2. Identify the St
Handout Visioning Missions becomes.
Reason to be? Invisible hand etc.
Market Terms.keep in touch with consumer's needs
i.e. AT&T is in the communications business not the telephone busines