1. understanding marketing processes and consumer behavior
TRANSCRIPT
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UnderstandingMarketingProcesses
and Consumer
Behavior
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What Is Marketing?
Process of planning andeecuting theconception! pricing!promotion anddistri"ution of ideas!goods and services to
create echanges thatsatisf# individual andorgani$ational
o"%ectives
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What Is a MarketingPlan?
&etailed strateg# forfocusing marketing
e'orts on consumerneeds and (ants
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Who )re MarketingManagers?
Manager (ho plans andimplements the marketingactivities that result in the
transfer of products orservices from producer to
consumer
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Marketing: Providing Valueand Satisfaction
Value and Benefits
Valueis the relative comparison of
a products benefits versus its costs
Benefitsinclude the functions of
the product and the emotional
satisfaction associated with
owning, experiencing orpossessing it
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Marketing: Providing Valueand Satisfaction
Value and Utility
Utilityis the ability of a product to satisfy
a human want or need !our "inds#
Time Utility
Place Utility
Ownership Utility
Form Utility
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What Is *elationship
Marketing?
Marketingstrateg# that
emphasi$eslastingrelationships (ith
customers andsuppliers
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Marketing: Goods, Servicesand Ideas
Consumer goodsare
products purchased by
consumers for personal use
Industrial goodsare
products used by companies
to produce other products
Servicesare intangibleproducts that can be
purchased
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Te Marketing !nvironment
!"ternal environmentis the combination of
outside factors that influence mar"eting programs
by posing opportunities and threats!ive
environmental factors# PoliticalLegal Environment
SocialCultural Environment
Technological Environment Economic Environment
Competitive Environments
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Com#etitive !nvironment
Su$stitute #roductsdiffer from
those of competitors but can fill
the same need
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Com#etitive !nvironment
Brand com#etitionoccurs
between similar products
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Com#etitive !nvironment
International com#etition
matches domestic products
against foreign products eg(apal vs )ipton
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What Is the Marketing Mi+or the ,-our P.s/0?
Com"ination ofproduct!pricing!promotion anddistri"ution+place0strategies usedto marketproducts
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%at Is a Product&
* #roductis a good, service oridea designed to fill a consumer
need or want
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%at Is a Product&
Product differentiationis the
creation of a product feature
or product image that differs
enough from competingproducts to attract consumers
+ow do they differentiate themselves
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%at Is Pricing&
Pricingis the process of selecting thebest price at which to sell a product
-rices must support a variety of costs
-rices must be competitive
Low- and high-price strategies can be
effective in different situations
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%at Is 'istri$ution (Place)&
'istri$utionis part of the
mar"eting mix concerned with
getting products from producers to
consumers
.ecisions about warehousing, inventory
control and transportation options
.ecisions about channels
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%at Is Promotion&
Promotion is the techni/ues for
communicating information about
products (here are different
promotional tools eg
dvertising
Personal Selling Sales Promotions
Pu!lic "elations
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%at Is Target Marketing andMarket Segmentation&
Target marketsare groupsof people with similar wantsand needs
Market segmentationisthe process of dividing amar"et into categories ofcustomer types
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Identifying Market Segments
#eographic varia!lesare
geographical units eg provinces,
cities etc
$emographic varia!lesare
characteristics of populations eg
*ge, 0ender, ducation, ncome,ccupation, arital tatus, -arental
tatus etc
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Identifying Market Segments
Psychographic varia!lesareconsumer characteristics such aslifestyles, personality andattitudes
%ehavioral varia!lesareconsumer characteristics basedon the use of a product, benefits
sought from it, reasons for itspurchase and brand loyalty (oothpaste with#
7hiteners
!luoride
outh !reshener
edicaments
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What Is Brand 1o#alt#?
Pattern of regularconsumer purchasing
"ased on satisfaction(ith a product
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What Is Marketing*esearch?
Stud# of consumerneeds and (ants andthe (a#s in (hich
sellers can "est meetthem
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Te *esearc Process
tudy the current situation
elect a research method
8ollect data9 Secondary datais already available
from previous research
9 Primary datais collected through newresearch
*naly:e the data
-repare a report
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*esearc Metods
+$servationinvolves watching andrecording consumer behavior
Surveyuses a /uestionnaire which serves
as the basis of interviews
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*esearc Metods
ocus grou#involves a small gathering ofpeople who are presented with an issue and
as"ed to discuss it in depth
!"#erimentation compares the responses
of the same or similar people under different
circumstances under a controlled
environment
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What Is ConsumerBehavior?
Stud# of the decisionprocess "# (hich people
"u# and consumeproducts
I fl C
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Influences on ConsumerBeavior
Psycological influences#individuals motivations,perceptions and attitudes
Personal influences: lifestyle,personality and economic status
Social influences# family, opinionleaders and reference groups
Cultural influences# culture,subculture and social class
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Consumer Buying Beavior