Factors Affecting Consumer Behavior: Psychological (learning)
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, -Learning involves changes in an individual's behavior arising out of
experience.
-Most of the human behavior is learned over time out of experience
Mission Statement vs Vision Statement
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-Mission statement tells the customer what they are doing now
-Vision statement is what the company wants to do in the future
value delivery network
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The network made up of the company, suppliers, distributors, and
ultimately customers who "partner" with each other to improve the
performance of the entire system in delivering customer value
(how companies collaborate with other companies)
Individual Product Decisions
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, Product attributes
Branding
Packaging
Labeling and logos
Product support
Dogs (BCG Matrix)
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-Products that have a low market share in unattractive, low-growth markets.
-Dogs may generate enough cash to break-even, but they are rarely, if
ever, worth investing in.
-Dogs are usually sold or closed
----Examples: AMC, Blackberry
Setting company objectives and goals
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Product concept: product orientation
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, -Product orientation assumes customers don't want cheap - they want
quality; if the product is good, the price doesn't matter.
-Doesn't consider what buyers want or need
Vision Statement Example
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-Toys R Us: Our vision is to put joy in kids' hearts and a smile on parent's
faces.
-Sony: "To be a company that inspires and fulfils your curiosity."
Marketers should be aware of several trends in the natural environment.
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-The first involves growing shortages of raw materials. Air and water may
seem to be infinite resources, but some groups see long-run dangers
-A second environmental trend is increased pollution. Industry will almost
always damage the quality of the natural environment.
-A third trend is increased government intervention in natural resource
management. The governments of different countries vary in their concern
and efforts to promote a clean environment.
-Many companies today are looking to do more than just good deeds.
More and more, companies are making environmental sustainability a part
of their core missions.
Marketing ROI
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Give this one a try later!
, -Learning involves changes in an individual's behavior arising out of
experience.
-Most of the human behavior is learned over time out of experience
Mission Statement vs Vision Statement
Give this one a try later!
-Mission statement tells the customer what they are doing now
-Vision statement is what the company wants to do in the future
value delivery network
Give this one a try later!
The network made up of the company, suppliers, distributors, and
ultimately customers who "partner" with each other to improve the
performance of the entire system in delivering customer value
(how companies collaborate with other companies)
Individual Product Decisions
Give this one a try later!
, Product attributes
Branding
Packaging
Labeling and logos
Product support
Dogs (BCG Matrix)
Give this one a try later!
-Products that have a low market share in unattractive, low-growth markets.
-Dogs may generate enough cash to break-even, but they are rarely, if
ever, worth investing in.
-Dogs are usually sold or closed
----Examples: AMC, Blackberry
Setting company objectives and goals
Give this one a try later!
Product concept: product orientation
Give this one a try later!
, -Product orientation assumes customers don't want cheap - they want
quality; if the product is good, the price doesn't matter.
-Doesn't consider what buyers want or need
Vision Statement Example
Give this one a try later!
-Toys R Us: Our vision is to put joy in kids' hearts and a smile on parent's
faces.
-Sony: "To be a company that inspires and fulfils your curiosity."
Marketers should be aware of several trends in the natural environment.
Give this one a try later!
-The first involves growing shortages of raw materials. Air and water may
seem to be infinite resources, but some groups see long-run dangers
-A second environmental trend is increased pollution. Industry will almost
always damage the quality of the natural environment.
-A third trend is increased government intervention in natural resource
management. The governments of different countries vary in their concern
and efforts to promote a clean environment.
-Many companies today are looking to do more than just good deeds.
More and more, companies are making environmental sustainability a part
of their core missions.
Marketing ROI
Give this one a try later!
