Understanding Consumers

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Consumer Product Acquisition Process

Motive Development

Information Gathering

Proposition Evaluation

Proposition Selection

Acquisition/Purchase

Re-evaluation

Use of Classical Conditioning in Marketing

Jingles in advertising

Supermarket Layouts

Free product samples

All Conditioning stimulus

Perceptions and Selective Exposure

Based on prior attitudes.beliefs, needs, stimulus factors and situational determinants

Actively seek out certain messages, while avoid exposure to others

Memorization Process

Factors affecting recognition and recall

Importance of context

Coding and storage in memory

Input mode effects

Repetition effects

Bettman 1979

Theories of Personality

Psychoanalytic - self reported unconscious desires

Trait - classification of personality types

Self-concept - how we perceive ourselves as consumers

Psychoanalytic Approach

Sigmund Freud

Id - harbors instinctive drives and urges, which require instant gratification

Ego - attempts to find outlets of urges in your Id. Planning center to determine the opportunities for gratification of urges

Superego - how we motivate ourselves to behave and respond to our instincts and urges, so that we do so in a socially acceptable manner

Trait Approach

Categorizes people into different personality types or traits.

Researchers characterize personalities according to bipolar scales

Self-Concept Approach

People buy goods for the brand they represent and its relation to the buyer's perception of their own self-concept or personality

Extrinsic Reasons for Purchase

Economic

Technical

Social

Legalistic

Adaptive

Opinions, Attitudes and Values

Opinions tend to be cognitive (based on thoughts). Quick responses

Attitudes are affective (linked to emotional states)

Values are conative (linked to motivations and behavior)

Marketing Research

Collection and analysis of data from a sample or census of individuals or organisations, relating to characteristics, behavior, attitudes, opinions or possessions

Axelrod 1970 (MKIS)

Contents of a Research Brief

Background summary

Management Problem

MR Questions

Intended Scope of Research

Tendering Procedures

MR Process

Define the Problem

Decide on Research Plan

Collect Data

Analyse Data

Report and deliver Presentation

Sources of Secondary Data

Government

Internet

Company Internal Records

Professional Bodies/Trade Associations

Market Research Companies

Types of Research

Exploratory - used when little is known about a problem and to discover the general nature of questions that might relate to it

Descriptive - accurately describing the variables being considered

Casual Research - used to determine the nature of a relationship between two or more variables

MR Code of Conduct

Honesty - consumer can no be lead to make choices

Objectivity - purpose to collect and analyse info, not to influence opinions

Confidentiality - all parties will not be identified and info with not be disclosed

Transparency - informed as to the purpose of the research

Strategic Market Analysis

External Environment - PESTLE

Performance Environment - 5 Forces, Competitor Supplier Analysis

Internal Environment - Resource Analysis

Methods

PESTLE

Competitor Analysis

SWOT

Strategic Marketing Growth Goals

Intensive Growth - concentrating activities on markets or products that are familiar

Integrative Growth - works in same markets, however takes up activities in the value chain previously undertaking by others

Diversification - developments outside the current chain of value

5 Ares of Strategic Market Action

Competitive Advantage

Generic Strategies - cost leadership, differentiation, and focus strategies

Competitive Positioning - market leader, challenger, follower, nicher

Strategic Intent

Marketing Planning - Organizing and implementing

Marketing Planning

Sequential process involving a series of activities leading to the setting of marketing objectives and the formulation of plans for achieving them

Marketing Plan Constraints

Time

Culture

Partiality

Latency

Internal Inconsistency

Strategy Inexperience

Dependency on a particular Person

STP Process

Method where whole markets are divided into segments

3 Activities

Segmentation

Targeting

Positioning

Benefits of STP

Enhancing competitive advantage

Identifying growth opportunities

Effective and efficient use of company resources to targeted market segments promising the greatest ROMI

Purpose of Market Segmentation

Leverage scarce resources

Elements of Marketing Mix are designed to meet the needs of different groups

Allows focus on specific customers needs in the most efficient and effective way

Process of Market Segmentation

Breakdown method - all customers are seen to be the same

Build-up method - every customer is different

Segmenting Consumer Markets

Profile Criteria

Behavioral Criteria

Psychological Criteria

Targeting

To determine which, if any, of the segments uncovered should be targeted

Evaluation of Market Segments - DAMP

Distinct

Accessible

Measurable

Profitable

Segment Attractiveness Factors

Market Growth

Segment Profitability

Segment Size

Competitive Intensity

Cyclical Nature of Industry

Positioning

act of designing the offering and image so it occupies a meaningful and distinct competitive position in the target customers minds

2 Elements

Physical Attributes

Communication

Re-positioning Strategies

Change tangible attributes and communication new proposition in market

Change communication method and style

Change target market

Change both attributes and target market

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