consumer behavior
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the study of consumer behavior seeks to understand why we buy certain
goods or services
- this study takes an understanding of principle from sociology and
psychology
- consumers are not rational, we do not always have a sound explanation
for our purchase decisions
physiological risk
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, it looks dangerous i could get hurt
how does promotion communicate value?
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promotions use communication that informs, persuades and reminds
potential buyers about a product or service they are buying
how does marketing create value?
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- builds relationships with partners and customers
- gathers, analyzes and shares information about customers and
competitors.
- balances the benefits and costs of their offerings for themselves, their
customers and their communities
- leverages technology to deepen customer relationships
in identifying and developing positioning, what are the four positioning strategies?
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, - value positioning: emphasizes quality
- salient attributes: emphasizes the product attributes that are of most
importance
- symbols: distinguished brands
- competition: position themselves as direct contrast to competition
how do competitors affect an immediate environment?
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- multiple firms fight for the same market share
competitors know eachothers strengths and weaknesses and will respond
to the firms marketing activities
diversification
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new product in new market
- riskiest of all growth strategies
- requires extensive research into emerging markets and firm capabilities
- diversification opportunities may be related or unrelated
- in an unrelated diversification on the other hand the new business lacks
any common elements with the present business
performance risk:
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, maybe it wont work or wont do what its supposed to do
customer excellence
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achieved when a firm develops strategies for retaining loyal customers and
provides outstanding customer service ex. disney world
how does politics affect the macroenvironment
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- the broader political environment encompasses political parties,
government organizations and legislations and laws
- firms must understand and comply with legislation regarding
- fair competition
- consumer protection
- industry specific regulation
what are the four elements of SWOT ANALYSIS
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strengths, weaknesses, opportunities, threats
Give this one a try later!
the study of consumer behavior seeks to understand why we buy certain
goods or services
- this study takes an understanding of principle from sociology and
psychology
- consumers are not rational, we do not always have a sound explanation
for our purchase decisions
physiological risk
Give this one a try later!
, it looks dangerous i could get hurt
how does promotion communicate value?
Give this one a try later!
promotions use communication that informs, persuades and reminds
potential buyers about a product or service they are buying
how does marketing create value?
Give this one a try later!
- builds relationships with partners and customers
- gathers, analyzes and shares information about customers and
competitors.
- balances the benefits and costs of their offerings for themselves, their
customers and their communities
- leverages technology to deepen customer relationships
in identifying and developing positioning, what are the four positioning strategies?
Give this one a try later!
, - value positioning: emphasizes quality
- salient attributes: emphasizes the product attributes that are of most
importance
- symbols: distinguished brands
- competition: position themselves as direct contrast to competition
how do competitors affect an immediate environment?
Give this one a try later!
- multiple firms fight for the same market share
competitors know eachothers strengths and weaknesses and will respond
to the firms marketing activities
diversification
Give this one a try later!
new product in new market
- riskiest of all growth strategies
- requires extensive research into emerging markets and firm capabilities
- diversification opportunities may be related or unrelated
- in an unrelated diversification on the other hand the new business lacks
any common elements with the present business
performance risk:
Give this one a try later!
, maybe it wont work or wont do what its supposed to do
customer excellence
Give this one a try later!
achieved when a firm develops strategies for retaining loyal customers and
provides outstanding customer service ex. disney world
how does politics affect the macroenvironment
Give this one a try later!
- the broader political environment encompasses political parties,
government organizations and legislations and laws
- firms must understand and comply with legislation regarding
- fair competition
- consumer protection
- industry specific regulation
what are the four elements of SWOT ANALYSIS
Give this one a try later!
strengths, weaknesses, opportunities, threats
