Post-Purchase Outcomes
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- The goal of marketers is to create satisfied customers
post-purchase
- Satisfied customers become loyal to the product or
service, purchase again, and even spread positive word of
mouth
1. Customer Satisfaction
2. Post-Purchase cognitive dissonance
3. Customer loyalty (or disloyalty)
Creates value through price, product, place, and promotion decisions (Marketing
Mix) (Four Ps)
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, Set of decisions that the firm uses to respond to the wants of its consumers
Customer Excellence
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Focuses on retaining loyal customers and excellent customer service
Society
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- Demands that firms act responsibly and companies cannot ignore this
- Must spend considerable time and energy engaging in activities aimed at
improving the overall community and physical environment
Identify the market’s ideal points and size (2)
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Key Questions:
- How large is the potential market in the space?
- Does the blank space represent opportunity or a lack of consumer
interest?
Determinant Attributes
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- Key features on a product or service important to the buyer where
competing brands or stores differ
- More subjective in nature than evaluative criteria
- In deciding where to eat, the determinant attributes between you and a
friend might differ
Consumer Behavior
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- The study of consumer behavior aims to understand why we buy certain
goods or services, drawing on principles from sociology and psychology
- Consumers are not rational, we do not always have a sound explanation
for our purchase decisions
Geographic Segmentation
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- Groups customers based on where they live, and Geographic Information
Software (GIS) helps with this process
- Most useful for companies whose products meet region-specific needs
or when certain benefits are more important in specific areas
- Potential consumers can be grouped by country, region, sub-areas, state,
city, neighborhood, or zip code
Physiological Needs (Motives)
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Deal with the basic biological necessities of life such as food, drink, sleep,
and shelter
Firm Decisions are Ethically Based (CM)
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- Business ethics refer broadly to the difference between right and wrong
in the context of commerce, like fraud
- Marketing ethics examines issued specific to marketing: impact on the
environment, use of child labor, and false advertising
Consumer Decision Rules
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Consumers use two types of criteria to choose between alternatives:
compensatory and non-compensatory decision rules
Evaluate Segment Attractiveness (3)
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- Marketers first must determine whether the segment is
worth pursuing, using several descriptive criteria
1. Identifiable
2. Substantial
3. Reachable
Give this one a try later!
- The goal of marketers is to create satisfied customers
post-purchase
- Satisfied customers become loyal to the product or
service, purchase again, and even spread positive word of
mouth
1. Customer Satisfaction
2. Post-Purchase cognitive dissonance
3. Customer loyalty (or disloyalty)
Creates value through price, product, place, and promotion decisions (Marketing
Mix) (Four Ps)
Give this one a try later!
, Set of decisions that the firm uses to respond to the wants of its consumers
Customer Excellence
Give this one a try later!
Focuses on retaining loyal customers and excellent customer service
Society
Give this one a try later!
- Demands that firms act responsibly and companies cannot ignore this
- Must spend considerable time and energy engaging in activities aimed at
improving the overall community and physical environment
Identify the market’s ideal points and size (2)
Give this one a try later!
Key Questions:
- How large is the potential market in the space?
- Does the blank space represent opportunity or a lack of consumer
interest?
Determinant Attributes
,Give this one a try later!
- Key features on a product or service important to the buyer where
competing brands or stores differ
- More subjective in nature than evaluative criteria
- In deciding where to eat, the determinant attributes between you and a
friend might differ
Consumer Behavior
Give this one a try later!
- The study of consumer behavior aims to understand why we buy certain
goods or services, drawing on principles from sociology and psychology
- Consumers are not rational, we do not always have a sound explanation
for our purchase decisions
Geographic Segmentation
Give this one a try later!
- Groups customers based on where they live, and Geographic Information
Software (GIS) helps with this process
- Most useful for companies whose products meet region-specific needs
or when certain benefits are more important in specific areas
- Potential consumers can be grouped by country, region, sub-areas, state,
city, neighborhood, or zip code
Physiological Needs (Motives)
, Give this one a try later!
Deal with the basic biological necessities of life such as food, drink, sleep,
and shelter
Firm Decisions are Ethically Based (CM)
Give this one a try later!
- Business ethics refer broadly to the difference between right and wrong
in the context of commerce, like fraud
- Marketing ethics examines issued specific to marketing: impact on the
environment, use of child labor, and false advertising
Consumer Decision Rules
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Consumers use two types of criteria to choose between alternatives:
compensatory and non-compensatory decision rules
Evaluate Segment Attractiveness (3)
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- Marketers first must determine whether the segment is
worth pursuing, using several descriptive criteria
1. Identifiable
2. Substantial
3. Reachable
