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The Meaning of Marketing
Marketers are bridge-builders
On one side there is the company or organization
Marketers are bridge-builders
On the other there are consumers
Marketers are bridge-builders
The company or organization has resources Capital resources Human resources Technical resources
Physical resources Consumer franchise
Marketers are bridge-builders
The consumers have needs Physical Safety Affiliation Prestige Fulfillment
Marketers are bridge-builders
Marketers build a bridge between the company’s resources and consumers’ needs
Marketers are bridge-builders
That bridge stands on four pillars
Marketers are bridge-builders
Name the pillars on which the bridge stands
Marketers are bridge-builders
Name the pillars on which the bridge stands
Product
Price
Place
Promotion
Marketers’ two major decisions How to construct the pillars?
Product Place Pricing Promotion
Orchestration of the Marketing Mix
Marketers’ two major decisions To where should the bridge be built? Demographics Geographics Psychographics
Market Segmentation Target Marketing
Two sources of information Consumer Behavior
Principles of the behavioral and social sciences
Marketing Research Primary research data Secondary research data
What is Consumer Behavior? Consumer psychology Consumer sociology Consumer anthropology Consumer (behavioral) economics
Social Science Perspectives
Psychology
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of psychological makeup on:
Social Science Perspectives
Sociology
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of social position and conditions on:
Social Science Perspectives
Anthropology
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of culture, subculture and ethnicity on:
Social Science Perspectives
Economics
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of income, wealth and earning power on:
Consumer Behavior perspectives
Psychology Sociology
Anthropology Economics
Structure of the course Consumer psychology
Needs Motives Perception Learning Personality
Structure of the course Consumer social psychology
Communications Attitude formation Attitude change
Structure of the course Consumer sociology
Reference groups Group dynamics Social class
Structure of the course Consumer anthropology
Culture Subculture Ethnicity
Structure of the course Consumer economics
Decision making Perceive risk Innovation diffusion Adoption process