MKT 327 Exam 2

Customer Behavior
1. identifies who buys
2. Identifies what is bought
3. Assess why they buy buy understanding social influences
4. Assess what they buy
5 asses how, when and where these influence impact the decision making process
Type of Customer
Demographic
Psychographic
Heavy Buyer
Light Buyer
Infrequent Buyer
Frequent Buyer
Deal Prone Buyer
Loyal Buyer
Product Attributes
Product Benefits
Consumer Involvement Model
Purchase Decision Process
Target Market Analysis
Insures that the organizations marketing plan is on code. Does the product or service line up with the deep rooted, social or psychological factor that drives consumption
Buyer Behavior Analysis
Obtain an in depth understanding of who the customers, what they are buying, and why and how they buy in order to gain insight for creating value
SOcial Influences on Consumer Behavior
Culture
Social Class
Family Life Cycle
Sub Culture
Reference group
Family Life cycle
Sub-culture
Reference Group
Psychological Influences on Behavior
Motivation
Maslow’s Hierarchy
Brand Loyalty
Perception Psychological needs
Learning
Motivation
Maslow’s Hierarchy
Brand Loyalty
Perception Psychological Needs
Learning
Cognitive Beleifs
Affective (importance) Value (VALS)
Behavioral (prescribed action
Business marketing
Organizational Buyers
Organizational Buying Behavior
NAICS Codes
Buying Center
Buying Classes
Buying Class Situations
Buying Center Roles
Segmentation Analysis
2nd stepg in Target Market Analysis. It completes the analysis procedures which forms the information foundation for the marketing planning process
Definition Segmentation Analysis
Divide the market into homogeneous groups with similar needs, wants, values and buying behavior
Market Segmentation
Market Segments
Segmentation Strategy (Targeting)
the process of deciding which groups (segments) to compete for and to what extent the marketing approach will be diversified
Product Differentiation
Mass Market
Segmentation Criteria
Homogeneous/Heterogeneous Markets
Profitability
Usage Rate
80/20 Rule
Strategies
Undifferentiated
Concentrated
Mirco
Differentiated
Niche
Product Positioning
creating an image or perception in the minds of consumers about the organization or its products relative to the competition
Product or Perceptual Map
Benefits
Demand
Product Repositioning
Unique Value Proposition
Market Demand
Demand Components
Primary vs. Selective Demand
General Marketing Strategy
Product
Services
Product line
Product Item
Product Mix
Consumer Product
Business Product
Product Classification
Convienence
Shopping
Specialty
Unsought
Components of a Product
Raw Materials
Component Parts
Equipment (supplies and services)
Alternative Competitive Strategies
Leader
Challenger
Niche
Follower
Leader
Challenger
Niche
Follower
Alternative Competitive Tactics
Operational Excellence
Product Leadership
Customer Intimacy
Relative Advantage
Product Complexity
Compatibility
Customer Experience Management
Continuous Innovation
Dynamically Continuous Innovation
Discontinuous Innovation