MARKETING

MARKETING

1. CONSUMER BEHAVIOR

   • PREFERENCES ARE CONSTANTLY CHANGING: THEY MAKE PURCHASE DECISIONS, USE AND DISPOSE PRODUCTS
   • STEPS
     • INFORMATION SEARCH (KEEP IN MIND KEY WORDS)
       • INTERNAL: MEMORY, EXPERIENCE. PRODUCTS NEED LEES INF. REPRESENT LESS RISK MORE CONFIDENCE, LOW INTEREST
       • EXTERNAL: MARKETING CONTROLLED (ADVT, SALESMAN), NON MARKETING CONTROLLED (FAMILY, FRIENDS. BLOGS). PRODUCTS NEED MORE INF. MORE RISK, LESS EXPERIENCE HIGH INTEREST, LACK CONFIDENCE
       • RESULT: CONSIDERATION SET: PREFERED BRANDS
     • PURCHASE
       • WHEN, WHERE, WHAT,HOW PAY
       • FULLY, PARTIALLY PLANNED OR UNPLANNED
     • NEED RECOGNITION
       • NEED: Imbalance between and actual and a decided state
         • MOTIVATION: A specific activity that satisfies a need
           • WANT: Recognition of a specific product or service that will satisfy that need
         • MAKES YOU RECOGNIZE NEED: STIMULI
           • INTERNAL: ACCURRENCES YOU EXPERIENCED IN THE PAST
           • EXTERNAL: INFLUENCED BY AN OUTSIDE FORCE
     • EVALUATION ALTERNATIVES
       • PRODUCTS ATTRIBUTES
         • BRAND
         • PRICE
         • QUALITY
         • DESIGN
     • POST PURCHASE BEHAVIOR
       • Cognitive dissonance: inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
         • REDUCED BY: SEEKING INF, AVOIDING INF, REVOKING. EFFECTIVE COMMUNICATION, FOLLOW UPS, INSTRUCTIONS, GUARRANTEES
   • AFFECTED BY:
     • INDIVIDUAL
       • gender, age, personality selfconcept life style
     • SOCIAL
       • REFERENCE GROUPS
         • MEMBERSHIP: PRIMARY ( informal), SECONDARY (formal)
         • NON MEMBERSHI: ASPIRATIONAL, NON ASPIRATIONA (avoid asociation)
       • OPINION LEADERS
       • FAMILY MEMBERS
         • Initiators: are the ones who suggest or initiate the purchase process. Influencers: are those members whose opinions are valued. Decision makers: actually makes the decision to buy or not to buy. The purchaser: is the one who exchanges money for the product. The consumer :is the one who uses the product.
     • PSICOLOGICAL: perception a person selects, organises and interprets the stimuli in order to generate an image of the world
       • DISTORTION: FEELING BELIEFS
       • RETENTION
       • EXPOSURE: STIMULI
     • CULTURAL:, MYTHS, COSTUMES, RITUALS, LAWS, MATERIAL ARTIFACTS
       • VALUES (belief that a specific mode of conduct is personally or socially preferable to another mode of conduct)
       • Subculture: A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group
       • SOCIAL CLASS: A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms.

2. CONSUMER BUYING DECISIONS

   • TYPES
     • ROUTINE: FRECUENTLY LOW COST
     • LIMITED: CONSUMERS HAVE PREVIOUS EXPERIENCE BUR ARE UNFMILIAR WITH BRANDS
     • EXTENSIVE: CONSUMERS ARE GOING TO BUY SOMETHING UNFAMILIAR OR EXPENSIVE PRODUCT
   • Involvement: the amount of time and effort a buyer invests in the search, evaluation and decision processes of consumer behaviour