Segmentation targeting and positioning (STP)
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Firms use these processes to identify and evaluate opportunities for
increasing sales for profits
Functional needs
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pertain to the performance of a product or service
Integrated marketing communications
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-Promotion dimension of the four Ps
-General advertising, personal selling, sales promotion, public relations,
direct marketing, and electronic media
-Provide clarity, consistency, and maximum communicative impact
Factors that influence Consumer Decision Process: Psychological
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Motives: drivers of behaviors
- Maslow's Hierarchy of Needs
**Needs prioritized bottom to top: physiological, safety, social/love,
esteem, self actualization
Attitudes: 3 Types
1. Cognitive: belief system
2. Affective: emotions
3. Behavioral : actions based on what we know and feel
What affects attitude?
-Perception
-Learning: changing your behavior based on experience
-Lifestyle: activities, interest, and opinions
What is customer loyalty?
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, Involves Customer Relationship Management (forming of long term
relationships with customers) to ensure customers feel valued and want to
keep coming back
Relative market share
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A measure of the products strength in a particular market,
sales of the focal product/sales achieved by the largest firm in the industry
Who is at the center of all marketing activities and how do they affect marketers?
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Consumers; their needs, wants, ability to purchase, and point of view affect
marketers
Cause marketers to conduct consumer research
Locational excellence
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A method of achieving excellence by having a strong physical location
and/or Internet presence
, 1914 Federal Trade Commission Act
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Regulating body to enforce regulation and original Sherman Antitrust Act
Impulse buying
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on the spot buying
Internal search for information
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buyer examines their own memory and knowledge about the product or
service, gathered through past experiences
Physiological/safety risk
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fear of an actual harm should a product not perform properly
Give this one a try later!
Firms use these processes to identify and evaluate opportunities for
increasing sales for profits
Functional needs
Give this one a try later!
pertain to the performance of a product or service
Integrated marketing communications
,Give this one a try later!
-Promotion dimension of the four Ps
-General advertising, personal selling, sales promotion, public relations,
direct marketing, and electronic media
-Provide clarity, consistency, and maximum communicative impact
Factors that influence Consumer Decision Process: Psychological
Give this one a try later!
Motives: drivers of behaviors
- Maslow's Hierarchy of Needs
**Needs prioritized bottom to top: physiological, safety, social/love,
esteem, self actualization
Attitudes: 3 Types
1. Cognitive: belief system
2. Affective: emotions
3. Behavioral : actions based on what we know and feel
What affects attitude?
-Perception
-Learning: changing your behavior based on experience
-Lifestyle: activities, interest, and opinions
What is customer loyalty?
Give this one a try later!
, Involves Customer Relationship Management (forming of long term
relationships with customers) to ensure customers feel valued and want to
keep coming back
Relative market share
Give this one a try later!
A measure of the products strength in a particular market,
sales of the focal product/sales achieved by the largest firm in the industry
Who is at the center of all marketing activities and how do they affect marketers?
Give this one a try later!
Consumers; their needs, wants, ability to purchase, and point of view affect
marketers
Cause marketers to conduct consumer research
Locational excellence
Give this one a try later!
A method of achieving excellence by having a strong physical location
and/or Internet presence
, 1914 Federal Trade Commission Act
Give this one a try later!
Regulating body to enforce regulation and original Sherman Antitrust Act
Impulse buying
Give this one a try later!
on the spot buying
Internal search for information
Give this one a try later!
buyer examines their own memory and knowledge about the product or
service, gathered through past experiences
Physiological/safety risk
Give this one a try later!
fear of an actual harm should a product not perform properly
