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A kotler ch 01 05
1.
Chapter 1- slide
1 Chapter One Marketing: Creating and Capturing Customer Value
2.
Creating and Capturing
Customer Value • What Is Marketing? • Understand the Marketplace and Customer Needs • Designing a Customer-Driven Marketing Strategy Topic Outline Chapter 1- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Preparing an Integrated Marketing Plan and Program • Building Customer Relationships • Capturing Value from Customers • The Changing Marketing Landscape
3.
What Is Marketing? Marketing
is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return Chapter 1- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall capture value from customers in return
4.
Understanding the Marketplace and
Customer Needs • Customer needs, wants, and demands • Market offerings • Value and satisfaction Core Concepts Chapter 1- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Value and satisfaction • Exchanges and relationships • Markets
5.
Understanding the Marketplace and
Customer Needs • States of deprivation • Physical—food, clothing, warmth, safety • Social—belonging and affection • Individual—knowledge and self-expression Needs Customer Needs, Wants, and Demands Chapter 1- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Form that needs take as they are shaped by culture and individual personalityWants • Wants backed by buying powerDemands
6.
Understanding the Marketplace and
Customer Needs • Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want • Marketing myopia is focusing only on existing wants Chapter 1- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs
7.
Understanding the Marketplace and
Customer Needs Customer Value and Satisfaction Expectations Customers • Value and Chapter 1- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Value and satisfaction Marketers • Set the right level of expectations • Not too high or low
8.
Exchange is the
act of obtaining a desired object from someone by offering something in return Understanding the Marketplace and Customer Needs Chapter 1- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall something in return
9.
Understanding the Marketplace and
Customer Needs Markets are the set of actual and potential buyers of a product Chapter 1- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
10.
Designing a Customer-Driven Marketing
Strategy Marketing management is the art and science of choosing target markets and Chapter 1- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall science of choosing target markets and building profitable relationships with them – What customers will we serve? – How can we best serve these customers?
11.
Designing a Customer-Driven Marketing
Strategy Market segmentation refers to dividing the markets into segments of customers Selecting Customers to Serve Chapter 1- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Target marketing refers to which segments to go after
12.
Designing a Customer-Driven Marketing
Strategy Demarketing is marketing to reduce demand temporarily or permanently; the aim is not Selecting Customers to Serve Chapter 1- slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall temporarily or permanently; the aim is not to destroy demand but to reduce or shift it
13.
Designing a Customer-Driven Marketing
Strategy Choosing a Value Proposition The value proposition is the set of benefits or values a company promises to Chapter 1- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall benefits or values a company promises to deliver to customers to satisfy their needs
14.
Designing a Customer-Driven Marketing
Strategy Marketing Management Orientations Chapter 1- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Production concept Product concept Selling concept Marketing concept Societal concept
15.
Designing a Customer-Driven Marketing
Strategy Production concept is the idea that consumers will favor products that are Marketing Management Orientations Chapter 1- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall consumers will favor products that are available or highly affordable
16.
Designing a Customer-Driven Marketing
Strategy Product concept is the idea that consumers will favor products that offer the most Marketing Management Orientations Chapter 1- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall will favor products that offer the most quality, performance, and features. Organization should therefore devote its energy to making continuous product improvements.
17.
Designing a Customer-Driven Marketing
Strategy Selling concept is the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling Marketing Management Orientations Chapter 1- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall unless it undertakes a large scale selling and promotion effort
18.
Designing a Customer-Driven Marketing
Strategy Marketing Management Orientations Marketing concept is the idea that achieving organizational goals depends on knowing the needs and Chapter 1- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do
19.
Designing a Customer-Driven Marketing
Strategy Marketing Management Orientations Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants, Chapter 1- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall decisions by considering consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run interests
20.
The marketing mix
is the set of tools (four Ps) the firm uses to implement its marketing strategy. It includes product, price, Preparing an Integrated Marketing Plan and Program Chapter 1- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall strategy. It includes product, price, promotion, and place. Integrated marketing program is a comprehensive plan that communicates and delivers the intended value to chosen customers.
21.
Building Customer Relationships The
overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction Customer Relationship Management (CRM) Chapter 1- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall superior customer value and satisfaction
22.
Building Customer Relationships Relationship
Building Blocks: Customer Value and Satisfaction Customer- perceived value • The difference Customer satisfaction • The extent to Chapter 1- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • The difference between total customer value and total customer cost • The extent to which a product’s perceived performance matches a buyer’s expectations
23.
Building Customer Relationships Customer
Relationship Levels and Tools Basic Relationships Chapter 1- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Full Partnerships
24.
Building Customer Relationships •
Relating with more carefully selected customers uses selective relationship management to target fewer, more profitable The Changing Nature of Customer Relationships Chapter 1- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall management to target fewer, more profitable customers • Relating more deeply and interactively by incorporating more interactive two way relationships through blogs, Websites, online communities and social networks
25.
Partner relationship management
involves working closely with partners in other company departments and outside the Building Customer Relationships Chapter 1- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall company departments and outside the company to jointly bring greater value to customers
26.
Building Customer Relationships •
Partners inside the company is every function area interacting with customers – Electronically Partner Relationship Management Chapter 1- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Electronically – Cross-functional teams • Partners outside the company is how marketers connect with their suppliers, channel partners, and competitors by developing partnerships
27.
Building Customer Relationships •
Supply chain is a channel that stretches from raw materials to components to final products to final buyers Partner Relationship Management Chapter 1- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall products to final buyers • Supply management • Strategic partners • Strategic alliances
28.
Capturing Value from
Customers • Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of Creating Customer Loyalty and Retention Chapter 1- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall customer would make over a lifetime of patronage
29.
Capturing Value from
Customers Share of customer is the portion of the customer’s purchasing that a company gets Growing Share of Customer Chapter 1- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall customer’s purchasing that a company gets in its product categories
30.
Capturing Value from Customers Customer
equity is the total combined customer lifetime values of all of the company’s customers Chapter 1- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall company’s customers
31.
Capturing Value from
Customers • Building the right relationships with the right customers involves treating customers as assets that need to be managed and maximized Building Customer Equity Chapter 1- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall managed and maximized • Different types of customers require different relationship management strategies – Build the right relationship with the right customers
32.
The Changing Marketing Landscape Digital
age Rapid globalization Major Developments Chapter 1- slide 32Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Digital age Rapid globalization Ethics and social responsibility Not-for-profit marketing
33.
Chapter Two Chapter 2-
slide 1 Chapter Two Company and Marketing Strategy Partnering to Build Customer Relationships
34.
Company and Marketing
Strategy • Companywide Strategic Planning: Defining Marketing’s Role • Designing the Business Portfolio • Planning Marketing: Partnering to Build Customer Topic Outline Chapter 2- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Planning Marketing: Partnering to Build Customer Relationships • Marketing Strategy and the Marketing Mix • Managing the Marketing Effort • Measuring and Managing Return on Marketing Investment
35.
Companywide Strategic Planning Strategic
planning is the process of developing and maintaining a strategic fit between the organization’s goals and Strategic Planning Chapter 2- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall between the organization’s goals and capabilities and its changing marketing opportunities
36.
Companywide Strategic Planning •
The mission statement is the organization’s purpose, what it wants to accomplish in the larger Defining a Market-Oriented Mission Chapter 2- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall accomplish in the larger environment • Market-oriented mission statement defines the business in terms of satisfying basic customer needs
37.
Companywide Strategic Planning Business objectives •
Build profitable Marketing objectives • Increase Setting Company Objectives and Goals Chapter 2- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Build profitable customer relationships • Invest in research • Improve profits • Increase market share • Create local partnerships • Increase promotion
38.
Companywide Strategic Planning The
business portfolio is the collection of businesses and products that make up the company Designing the Business Portfolio Chapter 2- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall company Portfolio analysis is a major activity in strategic planning whereby management evaluates the products and businesses that make up the company
39.
Companywide Strategic Planning Strategic
business unit (SBU) is a unit of the company that has a separate mission and objectives that can be planned separately Analyzing the Current Business Portfolio Chapter 2- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall objectives that can be planned separately from other company businesses • Company division • Product line within a division • Single product or brand
40.
Companywide Strategic Planning Identify
key businesses (strategic business units, or SBUs) that make up the company Analyzing the Current Business Portfolio Chapter 2- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Assess the attractiveness of its various SBUs Decide how much support each SBU deserves
41.
Companywide Strategic Planning: Chapter
2- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
42.
Companywide Strategic Planning •
Difficulty in defining SBUs and measuring market share and growth • Time consuming Problems with Matrix Approaches Chapter 2- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Time consuming • Expensive • Focus on current businesses, not future planning
43.
Companywide Strategic Planning Product/market
expansion grid is a tool for identifying company growth opportunities Developing Strategies for Growth and Downsizing Chapter 2- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall identifying company growth opportunities through market penetration, market development, product development, or diversification
44.
Companywide Strategic Planning Developing
Strategies for Growth and Downsizing Product/Market Expansion Grid Strategies Market Market Chapter 2- slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Market penetration Market development Product development Diversification
45.
Companywide Strategic Planning Developing
Strategies for Growth and Downsizing Product/market expansion grid strategies Chapter 2- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
46.
Companywide Strategic Planning Market
penetration is a growth strategy increasing sales to current market segments without changing the product Developing Strategies for Growth and Downsizing Chapter 2- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall without changing the product Market development is a growth strategy that identifies and develops new market segments for current products
47.
Companywide Strategic Planning Product
development is a growth strategy that offers new or modified products to existing market segments Developing Strategies for Growth and Downsizing Chapter 2- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall existing market segments Diversification is a growth strategy through starting up or acquiring businesses outside the company’s current products and markets
48.
Companywide Strategic Planning Downsizing
is the reduction of the business portfolio by eliminating products or Developing Strategies for Growth and Downsizing Chapter 2- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall portfolio by eliminating products or business units that are not profitable or that no longer fit the company’s overall strategy
49.
Planning Marketing Partnering to
Build Customer Relationships Value chain is a series of departments that carry out value-creating activities to design, produce, market, deliver, and Chapter 2- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products
50.
Planning Marketing Partnering to
Build Customer Relationships Value delivery network is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire Chapter 2- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall other to improve performance of the entire system
51.
Marketing Strategy and
the Marketing Mix Chapter 2- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
52.
Marketing Strategy and
the Marketing Mix Market segmentation is the division of a market into distinct groups of buyers who have distinct needs, characteristics, or Customer-Driven Marketing Strategy Chapter 2- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes Market segment is a group of consumers who respond in a similar way to a given set of marketing efforts
53.
Marketing Strategy and
the Marketing Mix Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter Customer-Centered Marketing Strategy Chapter 2- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall selecting one or more segments to enter
54.
Marketing Strategy and
the Marketing Mix Customer-Centered Marketing Strategy Market positioning is the arranging for a product to occupy a clear, distinctive, and desirable place relative to competing Chapter 2- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall desirable place relative to competing products in the minds of the target consumer
55.
Marketing Strategy and
the Marketing Mix Marketing mix is the set of controllable Developing an Integrated Marketing Mix Chapter 2- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Marketing mix is the set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market
56.
Marketing Strategy and
the Marketing Mix Developing an Integrated Marketing Mix Chapter 2- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
57.
Managing the Marketing
Effort Chapter 2- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
58.
Managing the Marketing
Effort Marketing Analysis – SWOT Analysis Chapter 2- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
59.
Managing the Marketing
Effort Market Planning—Parts of a Marketing Plan Executive summary Marketing situation Threats and opportunities Chapter 2- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall summary Objective and issues Marketing strategy Action programs Budgets Controls
60.
Managing the Marketing
Effort Implementing is the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives Marketing Implementation Chapter 2- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Successful implementation depends on how well the company blends its people, organizational structure, decision and reward system, and company culture into a cohesive action plan that supports its strategies
61.
Managing the Marketing
Effort Functional organization Geographic organization Marketing Department Organization Chapter 2- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Geographic organization Product management organization Market or customer management
62.
Managing the Marketing
Effort • Controlling is the measurement and evaluation of results and the taking of corrective action as needed Marketing Control Chapter 2- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall corrective action as needed • Operating control • Strategic control
63.
Measuring and Managing Return
on Marketing Investment Return on Marketing Investment (Marketing ROI) Return on marketing investment (Marketing ROI) is the net return from a marketing investment divided by the costs of the Chapter 2- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall investment divided by the costs of the marketing investment. Marketing ROI provides a measurement of the profits generated by investments in marketing activities.
64.
Chapter 3- slide
1 Chapter Three Analyzing the Marketing Environment
65.
Analyzing the Marketing Environment •
The Company’s Microenvironment • The Company’s Macroenvironment Topic Outline Chapter 3- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • The Company’s Macroenvironment • Responding to the Marketing Environment
66.
The Marketing Environment The
marketing environment includes the actors and forces outside marketing that affect marketing management’s ability to Chapter 3- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall affect marketing management’s ability to build and maintain successful relationships with customers
67.
The Marketing Environment Microenvironment
consists of the actors close to the company that affect its ability to serve its customers, the company, Chapter 3- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics
68.
The Company’s Microenvironment Actors in
the Microenvironment Chapter 3- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
69.
The Company’s Microenvironment • Top
management • Finance • R&D The Company Chapter 3- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • R&D • Purchasing • Operations • Accounting
70.
The Company’s Microenvironment • Provide
the resources to produce goods and services • Treated as partners to provide customer Suppliers Chapter 3- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Treated as partners to provide customer value
71.
The Company’s Microenvironment Help the
company to promote, sell and distribute its Marketing Intermediaries Chapter 3- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall distribute its products to final buyers
72.
The Company’s Microenvironment Resellers Physical distribution firms Types of
Marketing Intermediaries Chapter 3- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall firms Marketing services agencies Financial intermediaries
73.
The Company’s Microenvironment • Firms
must gain strategic advantage by positioning their offerings against competitors’ offerings Competitors Chapter 3- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall competitors’ offerings
74.
The Company’s Microenvironment Publics • Any
group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives – Financial publics Chapter 3- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Financial publics – Media publics – Government publics – Citizen-action publics – Local publics – General public – Internal publics
75.
The Company’s Macroenvironment Chapter 3-
slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
76.
The Company’s Macroenvironment Demography is
the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics • Demographic environment is important Demographic Environment Chapter 3- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Demographic environment is important because it involves people, and people make up markets • Demographic trends include age, family structure, geographic population shifts, educational characteristics, and population diversity
77.
The Company’s Macroenvironment • Increasing
population – Rapid growth in urban population in Asia – In India, urban population to rise to 523 million Demographic Environment Chapter 3- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – In India, urban population to rise to 523 million by 2025
78.
The Company’s Macroenvironment • A
growing middle class – MGI has divided the Indian population into 5 economic classes Demographic Environment Chapter 3- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall economic classes – Division based on real annual disposable income
79.
The Company’s Macroenvironment • Deprived
households have an annual disposable income of less than Rs 90,000 – The poorest economic class Demographic Environment Chapter 3- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – The poorest economic class – Mostly unskilled or semi-skilled workers on daily wages
80.
The Company’s Macroenvironment • Aspirers
have an annual disposable income in the range of Rs 90,000 to Rs 200,000 Demographic Environment Chapter 3- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 200,000 – Spend most of their income on basic necessities – Small-time retailers, small farmers, etc.
81.
The Company’s Macroenvironment • Seekers
have an annual disposable income between Rs 200,000 and Rs 500,000. Mostly white-collar employees, mid-level government officials, newly employed Demographic Environment Chapter 3- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall government officials, newly employed postgraduates, medium-scale traders
82.
The Company’s Macroenvironment • Strivers
have an annual income ranging from Rs 500,000 to Rs 1,000,000 – Have a stable income source and access to Demographic Environment Chapter 3- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Have a stable income source and access to amenities – Mostly professionals such as lawyers, CAs, senior government officials, rich farmers
83.
The Company’s Macroenvironment • Global
Indians have an annual disposable income in excess of Rs 1,000,000 Demographic Environment Chapter 3- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 1,000,000 – Creamy layer in society – Globe-trotters with a high standard of living
84.
The Company’s Macroenvironment Demographic Environment •
Growth in the rural population • A changing family system • The changing role of women Chapter 3- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • The changing role of women • Increasing diversity
85.
The Company’s Macroenvironment Economic environment
consists of factors that affect consumer purchasing power and spending patterns Economic Environment Chapter 3- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall spending patterns • Industrial economies are richer markets • Subsistence economies consume most of their own agriculture and industrial output
86.
The Company’s Macroenvironment • The
global financial crisis of 2007–2009 has affected the consumption and production of many products • Value marketing involves ways to offer Economic Environment Chapter 3- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Value marketing involves ways to offer financially cautious buyers greater value— the right combination of quality and service at a fair price
87.
The Company’s Macroenvironment • Ernst
Engel—Engel’s Law • As income rises: Economic Environment Changes in Consumer Spending Patterns Chapter 3- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • As income rises: – The percentage spent on food declines – The percentage spent on housing remains constant – The percentage spent on savings increases
88.
The Company’s Macroenvironment Natural environment
involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities Natural Environment Chapter 3- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall activities • Trends – Shortages of raw materials – Increased pollution – Increase government intervention – Environmentally sustainable strategies
89.
The Company’s Macroenvironment Technological Environment •
Most dramatic force in changing the marketplace • Creates new products and opportunities Chapter 3- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall opportunities • Safety of new product always a concern
90.
The Company’s Macroenvironment Political environment
consists of laws, government agencies, and pressure groups that influence or limit various organizations Political Environment Chapter 3- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall that influence or limit various organizations and individuals in a given society
91.
The Company’s Macroenvironment • Legislation
regulating business – Increased legislation – Changing government agency enforcement – New forms of nontariff barriers in trade Political Environment Chapter 3- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – New forms of nontariff barriers in trade • Increased emphasis on ethics – Socially responsible behavior – Cause-related marketing
92.
The Company’s Macroenvironment Cultural environment
consists of institutions and other forces that affect a society’s basic values, perceptions, and Cultural Environment Chapter 3- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall society’s basic values, perceptions, and behaviors
93.
The Company’s Macroenvironment Core beliefs
and values are persistent and are passed on from parents to children and are reinforced by schools, religious institutions, Cultural Environment Persistence of Cultural Values Chapter 3- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall reinforced by schools, religious institutions, businesses, and government Secondary beliefs and values are more open to change and include people’s views of themselves, others, organization, society, nature, and the universe
94.
The Company’s Macroenvironment • People’s
view of themselves – Yankelovich Monitor’s consumer segments: Cultural Environment Shifts in Secondary Cultural Values Chapter 3- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Yankelovich Monitor’s consumer segments: • Do-it-yourselfers—recent movers • Adventurers • People’s view of others – More “cocooning”
95.
The Company’s Macroenvironment • People’s
view of organizations • People’s view of society Cultural Environment Shifts in Secondary Cultural Values Chapter 3- slide 32Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • People’s view of society – Patriots defend it – Reformers want to change it – Malcontents want to leave it
96.
The Company’s Macroenvironment Cultural Environment Shifts
in Secondary Cultural Values • People’s view of nature – Some feel ruled by it Chapter 3- slide 33Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Some feel ruled by it – Some feel in harmony with it – Some seek to master it • People’s view of the universe – Renewed interest in spirituality
97.
Responding to the
Marketing Environment Uncontrollable Proactive Reactive Views on Responding Chapter 3- slide 34Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • React and adapt to forces in the environment • Aggressive actions to affect forces in the environment • Watching and reacting to forces in the environment
98.
Chapter 4- slide
1 Chapter Four Managing Marketing Information to Gain Customer Insights
99.
Learning Objectives • Marketing
Information and Customer Insights • Assessing Marketing Information Needs • Developing Marketing Information • Marketing Research Topic Outline Chapter 4- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Marketing Research • Analyzing Marketing Information • Distributing and Using Marketing Information • Other Marketing Information Considerations
100.
Marketing Information and Customer
Insights • Fresh and deep insights into customers’ needs and wants • Difficult to obtain Customer Insights Chapter 4- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Difficult to obtain – Not obvious – Customers unsure of their behavior • Not derived from more information but better information and more effective use of existing information
101.
Marketing Information and Customer
Insights • Companies are forming customer insights teams – Include all company functional areas Customer Insights Chapter 4- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Include all company functional areas – Use insights to create more value for their customers – Customer control could be a problem
102.
Marketing Information and Customer
Insights Marketing information system (MIS) consists of people and procedures for: Marketing Information Systems (MIS) Chapter 4- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall for: – Assessing informational needs – Developing needed information – Helping decision makers use the information to generate customer insights
103.
Marketing Information System Chapter
4- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
104.
Assessing Marketing Information Needs MIS
provides information to the company’s marketing and other managers and external partners such as suppliers, Chapter 4- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall external partners such as suppliers, resellers, and marketing service agencies
105.
Assessing Marketing Information Needs •
Balancing what the information users would like to have against what they need and what is feasible to offer Characteristics of a Good MIS Chapter 4- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall and what is feasible to offer User’s Needs MIS Offerings
106.
Developing Marketing Information Internal
data Marketers obtain information from Chapter 4- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Marketing intelligence Marketing research
107.
Developing Marketing Information Internal
databases are electronic collections of consumer and market information obtained from data Internal Data Chapter 4- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall information obtained from data sources within the company network
108.
Developing Marketing Information Marketing
intelligence is the systematic collection and analysis of publicly available information about consumers, competitors, Marketing Intelligence Chapter 4- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall information about consumers, competitors, and developments in the marketplace
109.
Developing Marketing Information Marketing
Research Marketing research is the systematic design, collection, analysis, and reporting of data Chapter 4- slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall analysis, and reporting of data relevant to a specific marketing situation facing an organization
110.
Developing Marketing Information Steps
in the Marketing Research Process Chapter 4- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
111.
Developing Marketing Information Marketing
Research Defining the Problem and Research Objectives Exploratory research Chapter 4- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Exploratory research Descriptive research Causal research
112.
Developing Marketing Information •
Outlines sources of existing data • Spells out the specific research Marketing Research Developing the Research Plan Chapter 4- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Spells out the specific research approaches, contact methods, sampling plans, and instruments to gather data
113.
Developing Marketing Information Management
problem Research objectives Marketing Research Written Research Plan Includes: Chapter 4- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Information needed How the results will help management decisions Budget
114.
Developing Marketing Information Secondary
data consists of information that already exists somewhere, having been Marketing Research Developing the Research Plan Chapter 4- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall already exists somewhere, having been collected for another purpose Primary data consists of information gathered for the special research plan
115.
Developing Marketing Information Advantages Cost Disadvantages Current Chapter
4- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Speed Could not get data otherwise Relevant Accuracy Impartial
116.
Developing Marketing Information Planning
Primary Data Collection Research approaches Marketing Research Chapter 4- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall approaches Contact methods Sampling plan Research instruments
117.
Developing Marketing Information Observational
research involves gathering primary data by observing relevant people, Market Research Research Approaches Chapter 4- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall primary data by observing relevant people, actions, and situations Ethnographic research involves sending trained observers to watch and interact with consumers in their natural environment
118.
Developing Marketing Information Survey
research is the most widely used method and is best for descriptive information—knowledge, attitudes, Market Research Research Approaches Chapter 4- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall information—knowledge, attitudes, preferences, and buying behavior • Flexible • People can be unable or unwilling to answer • People may give misleading or pleasing answers • Privacy concerns
119.
Developing Marketing Information Experimental
research is best for gathering causal information—cause-and-effect Market Research Research Approaches Chapter 4- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall causal information—cause-and-effect relationships
120.
Developing Marketing Information Marketing
Research Strengths and Weakness of Contact Methods Mail Telephone Personal Online Flexibility Poor Good Excellent Good Quantity of data collected Good Fair Excellent Good Chapter 4- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall collected Control of interviewer effects Excellent Fair Poor Fair Control of sample Fair Excellent Good Excellent Speed of data collection Poor Excellent Good Excellent Response rate Poor Poor Good Good Cost Good Fair Poor Excellent
121.
Developing Marketing Information •
Focus Groups – Six to 10 people with a trained moderator Marketing Research Contact Methods Chapter 4- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall moderator – Challenges • Expensive • Difficult to generalize from small group • Consumers not always open and honest
122.
Developing Marketing Information Online marketing research Internet surveys Marketing
Research Contact Methods Chapter 4- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall research surveys Online panels Online experiments Click-stream data Online focus groups
123.
Developing Marketing Information Advantages •
Low cost Disadvantages • Restricted Marketing Research Online Research Chapter 4- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Low cost • Speed • Higher response rates • Good for hard to reach groups • Restricted internet access • Not sure who is answering
124.
Developing Marketing Information Sample
is a segment of the population selected for marketing research to Marketing Research Sampling Plan Chapter 4- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall selected for marketing research to represent the population as a whole – Who is to be surveyed? – How many people should be surveyed? – How should the people be chosen?
125.
Developing Marketing Information Probability
Sample Simple random sample Every member of the population has a known and equal chance of selection Stratified random The population is divided into mutually exclusive groups Marketing Research Sampling Plan—Types of Samples Chapter 4- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Stratified random sample The population is divided into mutually exclusive groups and random samples are drawn from each group Cluster (area) sample The population is divided into mutually exclusive groups and the researcher draws a sample Nonprobability Sample Convenience sample The researcher selects the easiest population members Judgment sample The researcher uses his/her judgment to select population members Quota sample The researcher finds and interviews a prescribed number of people in each of several categories
126.
Developing Marketing Information Marketing
Research Research Instruments Questionnaires • Most common Chapter 4- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Most common • Administered in person, by phone, or online • Flexible • Research must be careful with wording and ordering of questions
127.
Developing Marketing Information •
Closed-end questions include all possible answers, and subjects make choices among them Marketing Research Research Instruments—Questionnaires Chapter 4- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall them – Provide answers that are easier to interpret and tabulate • Open-end questions allow respondents to answer in their own words – Useful in exploratory research
128.
Developing Marketing Information Checkout scanners Marketing
Research Research Instruments Chapter 4- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Mechanica l devices People meters scanners Neuro- marketing
129.
Developing Marketing Information Collecting
the information Marketing Research Implementing the Research Plan Chapter 4- slide 32Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Processing the information Analyzing the information Interpret findings Draw conclusions Report to management
130.
Analyzing and Using
Marketing Information • CRM consists of sophisticated software and analytical tools that integrate customer Customer Relationship Management (CRM) Chapter 4- slide 33Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall analytical tools that integrate customer information from all sources, analyze it in depth, and apply the results to build stronger customer relationships
131.
Analyzing and Using
Marketing Information Service and Customer Relationship Management Touchpoints Chapter 4- slide 34Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Customer purchases Sales force contacts Service and support calls Web site visits Satisfaction surveys Credit and payment interactions Research studies
132.
Distributing and Using
Marketing Information Information distribution involves entering information into databases and making it available in a time-usable manner Chapter 4- slide 35Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall manner • Intranet provides information to employees and other stakeholders • Extranet provides information to key customers and suppliers
133.
Other Marketing Information Considerations Marketing
Research in Small Businesses and Nonprofit Organizations Chapter 4- slide 36Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall International Market Research Public Policy and Ethics • Customer privacy • Misuse of research findings
134.
Chapter 5- slide
1 Chapter Five Consumer Markets and Consumer Buyer Behavior
135.
Consumer Markets and
Consumer Buyer Behavior • Model of Consumer Behavior • Characteristics Affecting Consumer Behavior Topic Outline Chapter 5- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Behavior • Types of Buying Decision Behaviors • The Buyer Decision Process • The Buyer Decision Process for New Products
136.
Consumer buyer behavior
refers to the buying behavior of final consumers—individuals and households who buy goods and services for personal consumption Model of Consumer Behavior Chapter 5- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall personal consumption Consumer market refers to all of the personal consumption of final consumers
137.
Model of Consumer
Behavior Chapter 5- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
138.
Characteristics Affecting Consumer Behavior Factors
Influencing Consumer Behavior Chapter 5- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
139.
Culture is the
learned values, perceptions, wants, and behavior from family and other Characteristics Affecting Consumer Behavior Chapter 5- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall wants, and behavior from family and other important institutions
140.
Characteristics Affecting Consumer Behavior Subcultures
are groups of people within a culture with shared value systems based on common life experiences and situations • Bengalis Chapter 5- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Bengalis • Gujaratis • Punjabis
141.
Social classes are
society’s relatively permanent and ordered divisions whose members share similar values, interests, Characteristics Affecting Consumer Behavior Chapter 5- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall members share similar values, interests, and behaviors • Measured by a combination of occupation, income, education, wealth, and other variables
142.
Characteristics Affecting Consumer Behavior Membership Groups Aspirational Groups Reference Groups Groups
and Social Networks Chapter 5- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Groups with direct influence and to which a person belongs • Groups an individual wishes to belong to • Groups that form a comparison or reference in forming attitudes or behavior
143.
Characteristics Affecting Consumer Behavior •
Word-of-mouth influence and buzz marketing – Opinion leaders are people within a reference group who exert social Groups and Social Networks Chapter 5- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Opinion leaders are people within a reference group who exert social influence on others – Also called influentials or leading adopters – Marketers identify them to use as brand ambassadors
144.
Characteristics Affecting Consumer Behavior •
Online Social Networks are online communities where people socialize or exchange information and opinions Groups and Social Networks Chapter 5- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall information and opinions • Include blogs, social networking sites (facebook), virtual worlds (second life)
145.
Characteristics Affecting Consumer Behavior •
Family is the most important consumer- buying organization in society • The groups, family, clubs, and organizations that a person belongs to define his/her social Social Factors Chapter 5- slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall that a person belongs to define his/her social role and status
146.
Characteristics Affecting Consumer Behavior •
Age and life-cycle stage • RBC Royal Band stages – Youth: younger than 18 Personal Factors Chapter 5- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Youth: younger than 18 – Getting started: 18–35 – Builders: 35–50 – Accumulators: 50–60 – Preservers: over 60
147.
Characteristics Affecting Consumer Behavior Occupation
affects the goods and services bought by consumers Personal Factors Chapter 5- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall bought by consumers Economic situation includes trends in: Personal income Savings Interest rates
148.
Characteristics Affecting Consumer Behavior Lifestyle
is a person’s pattern of living as expressed in his or her psychographics • Measures a consumer’s AIOs Personal Factors Chapter 5- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Measures a consumer’s AIOs (activities, interests, opinions) to capture information about a person’s pattern of acting and interacting in the environment
149.
Characteristics Affecting Consumer Behavior •
Personality and self-concept – Personality refers to the unique psychological Personal Factors Chapter 5- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Personality refers to the unique psychological characteristics that lead to consistent and lasting responses to the consumer’s environment
150.
Characteristics Affecting Consumer Behavior Personal Factors Dominance
Autonomy Chapter 5- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Factors Defensiveness Adaptability Aggressiveness
151.
Characteristics Affecting Consumer Behavior Psychological
Factors Motivation Perception Chapter 5- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Perception Learning Beliefs and attitudes
152.
Characteristics Affecting Consumer Behavior A
motive is a need that is sufficiently pressing to direct the person to seek Psychological Factors Motivation Chapter 5- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall pressing to direct the person to seek satisfaction Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations
153.
Characteristics Affecting Consumer Behavior Maslow’s Hierarchy
of Needs Chapter 5- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
154.
Characteristics Affecting Consumer Behavior Perception
is the process by which people select, organize, and interpret information to form a meaningful picture of the world from three perceptual Psychological Factors Chapter 5- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall of the world from three perceptual processes – Selective attention – Selective distortion – Selective retention
155.
Characteristics Affecting Consumer Behavior Selective
attention is the tendency for people to screen out most of the information to which they are exposed Selective distortion is the tendency for people to Psychological Factors Chapter 5- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Selective distortion is the tendency for people to interpret information in a way that will support what they already believe Selective retention is the tendency to remember good points made about a brand they favor and forget good points about competing brands
156.
Characteristics Affecting Consumer Behavior •
Learning is the change in an individual’s behavior arising from experience and occurs through interplay of: Psychological Factors Chapter 5- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall occurs through interplay of: Drives Stimuli Cues Responses Reinforcement
157.
Characteristics Affecting Consumer Behavior Belief
is a descriptive thought that a person has about something based on: Psychological Factors Beliefs and Attitudes Chapter 5- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall has about something based on: • Knowledge • Opinion • Faith
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Characteristics Affecting Consumer Behavior Attitudes
describe a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea Psychological Factors Chapter 5- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall tendencies toward an object or idea
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Types of Buying
Decision Behavior Complex buying behavior Dissonance-reducing buying behavior Chapter 5- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Dissonance-reducing buying behavior Habitual buying behavior Variety-seeking buying behavior
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Types of Buying
Decision Behavior Four Types of Buying Behavior Chapter 5- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
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The Buyer Decision
Process Buyer Decision Making Process Chapter 5- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
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The Buyer Decision
Process • Occurs when the buyer recognizes a problem or need triggered by: – Internal stimuli Need Recognition Chapter 5- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Internal stimuli – External stimuli
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The Buyer Decision
Process • Personal sources—family and friends • Commercial sources—advertising, Internet • Public sources—mass media, consumer Information Search Sources of Information Chapter 5- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • Public sources—mass media, consumer organizations • Experiential sources—handling, examining, using the product
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The Buyer Decision
Process • How the consumer processes information to arrive at brand choices Evaluation of Alternatives Chapter 5- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall to arrive at brand choices
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The Buyer Decision
Process • The act by the consumer to buy the most preferred brand • The purchase decision can be affected by: Purchase Decision Chapter 5- slide 32Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall • The purchase decision can be affected by: – Attitudes of others – Unexpected situational factors
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The Buyer Decision
Process • The satisfaction or dissatisfaction that the consumer feels about the purchase • Relationship between: – Consumer’s expectations Post-Purchase Decision Chapter 5- slide 33Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall – Consumer’s expectations – Product’s perceived performance • The larger the gap between expectation and performance, the greater the consumer’s dissatisfaction • Cognitive dissonance is the discomfort caused by a post-purchase conflict
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The Buyer Decision
Process Customer satisfaction is a key to building profitable relationships with consumers— to keeping and growing consumers and Post-Purchase Decision Chapter 5- slide 34Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall to keeping and growing consumers and reaping their customer lifetime value
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The Buyer Decision
Process for New Products Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use. Chapter 5- slide 35Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall about an innovation to final regular use. • Stages in the process include: Awareness Interest Evaluation Trial Adoption
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The Buyer Decision
Process for New Products Influence of Product Characteristics on Rate of Adoption Relative Compatibility Complexity Chapter 5- slide 36Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Relative advantage Compatibility Complexity Divisibility Communicability
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