Concept unveiled
Consumer Behavior
The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.
In Primal stages, the field is referred to as Buying Behavior On-going process It also involves exchange
Exchange is the act of obtaining a desired object from someone by offering something in return
Defining Consumer..
A person who identifies a need or a desire, makes a purchase and then disposes a product during the three stages in the consumption process.
Personal Consumer
The individual who buys goods and services for his or her own use, for household use, for the use of a family member, or for a friend.
Organizational Consumer
A business, government agency, or other institution (profit or nonprofit) that buys the goods, services, and/or equipment necessary for the organization to function.
Production concept
Product concept
Selling concept
Marketing concept
Societal concept
Usually in case of Companies with: Low labor cost High production efficiency Mass distribution
Production
concept in some cases can also lead to market myopia Example: Lenovo- Chinese PC brand
Category
Variables
Demographics
Age, gender, social class, occupation, income, religion, stage in life, ethnic group, purchaser vs. user
Geographic
Psychographic Behavioral
Region, country differences Self concept, personality, lifestyle Brand loyalty, usage extent, usage situation, benefits desired
Target Marketing
defining the market and the tactics used to reach that market
Step by step procedure involving
Defining the relevant market Analyzing the needs and the characteristics of the potential customers Identify the bases for segmenting the market Define and describe the market segments Analyze competitors positions Evaluate market segments Select market segments Finalize the Marketing Mix
Relationship Marketing
Input
Sociocultural Environment 1. Family 2. Informal sources 3. Other noncommercial sources 4. Social class 5. Subculture and culture
External Influence
Output