Download File

yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts

Digital marketing wikipedia, lookup

Service parts pricing wikipedia, lookup

Bayesian inference in marketing wikipedia, lookup

Food marketing wikipedia, lookup

Street marketing wikipedia, lookup

Integrated marketing communications wikipedia, lookup

Direct marketing wikipedia, lookup

Market penetration wikipedia, lookup

Multicultural marketing wikipedia, lookup

Pricing strategies wikipedia, lookup

Marketing wikipedia, lookup

Product lifecycle wikipedia, lookup

Youth marketing wikipedia, lookup

Planned obsolescence wikipedia, lookup

Online shopping wikipedia, lookup

Product placement wikipedia, lookup

Consumer behaviour wikipedia, lookup

Target audience wikipedia, lookup

Visual merchandising wikipedia, lookup

Segmenting-targeting-positioning wikipedia, lookup

Shopping wikipedia, lookup

Neuromarketing wikipedia, lookup

Target market wikipedia, lookup

Global marketing wikipedia, lookup

Advertising campaign wikipedia, lookup

Predictive engineering analytics wikipedia, lookup

Green marketing wikipedia, lookup

Retail wikipedia, lookup

Marketing strategy wikipedia, lookup

Sensory branding wikipedia, lookup

Product planning wikipedia, lookup

Marketing channel wikipedia, lookup

NAME Juan Berrocales
1. A marketing
strategy provides vital information on how a business will meet its goals of
customers that will result in making sales and profits.
2. There are two steps to a marketing strategy:
a. Target market – a target
group of
people that have
similar wants
and needs. Market segmentation is dividing the target market into smaller groups
based on:
i. Demographics – age, gender , income, ethnicity
ii. Geographic - location
iii. Psychographic - values , attitudes and
iv. Behavioral – why customers
the products
b. Marketing Mix (4 P’s) – the
blending of the marketing
elements of marketing
known as product,
place (distribution),
price, and
. Goals
are to satisfy the
needs and wants of the
target market and to Provide
a profit for the company.
3. Consumer Decision Making Process
a) Recognize a need.
b) Gather information.
c) Select and evaluate alternatives.
d) Make a purchase decision.
e) Determine the effectiveness of the decision.
4. How does decision making occur?
a. Extensive – a high level of perceived risk, a product or service is very expensive or
has a high
value to the
b. Limited – when a customer buys products that he/she has purchased before but not
c. Routine – when little information is needed about the product being purchased
5. Consumer buying motives – the reasons consumers decide what products and services to
a. Emotional - feelings, beliefs, and attitudes
Rational - based on
facts and
c. Patronage – based on loyalty
, customer
service, merchandise and convenience
6. Consumer Information Sources:
a. Product
Testing Organizations – test products and services to detect benefits
Examples: Underwriters Laboratories , Association of Home Appliance
Manufacturers, Consumers
Union (independent testing organizations)
b. Media sources – provide specific information about products and services.
i. Print = Magazines
ii. Broadcast =
Radio and
iii. Internet = websites, world wide web
NAME Juan Berrocales
c. Government agencies – Inform consumers and may handle consumer questions
all levels of government Federal, State and Local
d. Business sources – available as a
public service and to sell products and
i. Advertising – main function is to advertise
ii. Product labels – provide helpful information about
nature of the product,
how to care for the product, where the product was made and the size of
the product.
iii. Customer Service departments – focus on assisting
iv. Better Business Bureau (BBB) provides facts about products or services
v. Personal Contacts - “word of mouth “ advertising
7. Retailers:
a. Traditional retailers include
stores – provide broad product lines and
highlight their service
ii. Discount
Stores - highlight their offering of lower prices for products
Specialty Stores – provide a
special line of products
iv. Supermarket – large, full service store that offer many brands of products
v. Convenience Store – provide popular
items, offer
long operating hours
and are usually located in highly accessible areas
b. Contemporary retailers include:
i. Specialty Superstores - provide wide variety of
limited products at low
ii. Superstores – provides a wide variety of products in the
services such as food, bakery, auto and
iii. Warehouse Club – provide products in
iv. Factory outlets – provide high-quality products at
low prices
c. Non-store retailers allow purchasing of goods and services by telephone, computer,
fax or door-to-door. . Ex. Vending machines, EBay