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Consumer behavior and branding strategy
Theories of brand personality
Theories of brand personality
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Consumer Buying Behavior I. MARKETING, RELATIONSHIPS, AND CONSUMER BEHAVIOR A. Consumer behavior comprises all the consumer decisions and activities connected with choosing, buying, using, and disposing of goods and services. 1. Marketers have to pay attention to consumer behavior that occurs before the purchase and continues after the product has been used. 2. Studying consumer behavior is one of the steps in marketing research and analysis. 3. In addition to basic principles of consumer behavior, marketers also need to study the decisions and actions of real people. B. Real People, Real Individuals 1. Until recently, the study of consumer behavior was focused on generalized consumer decisions. a. However, this did not address the behavior of individual consumers. b. These companies were making marketing decisions without knowing specific details about their customers. 2. Today marketers can collect and analyze data about consumer behavior, one person at a time; this is the relationship approach to marketing. 3. New technology allows marketers to track the specific purchase and usage behavior of their customers. a. Information is gathered and stored in an internal database. b. Marketers can explore what each customer wants and tailor the marketing processes to meet those needs. C. Consumers as Moving Targets 1. Consumer behavior changes over time as people and situations change. 2. To maintain their relationships with customers, marketers have to be alert to changes and adjust their activities accordingly. 3. In addition to individual variations in consumer behavior, marketers need to scan for broad-based changes in consumer behavior. 4. After a product hits the market markete... ... middle of paper ... ... in response to recurring situations. 2. Some marketers group consumers according to certain personality traits, and develop marketing approaches to fit each group. 3. A few personality traits, such as innovativeness, seem to predict who will purchase certain products. 4. Research shows that consumer behavior is clearly influenced by self-concept, the way a person feels and thinks about himself or herself. a. The way people see themselves is not necessarily the way they really are. b. People buy and use products that shape, support, or express their inner selves. 5. Lifestyle is an individual pattern of living as exhibited in a person's activities, interests, and opinions. a. Marketers analyze consumer lifestyles by looking at a range of characteristics (known as psychographic variables). b. Lifestyle shifts can open new marketing activities.
Relationship marketing is a foundation for a business that helps a business be successful. using email marketing, social media, and the four p’s-place, promotion, product, and pricing will help me be successful in a
- The promoting idea focuses on that a firm ought to make a Marketing Mix that fulfills clients, accordingly need to break down the what, where, when and how shoppers purchase.
The first objective in marketing is to discover the prospective consumers’ needs. This may or may not be known by the consumer, for example, when a completely new product is launched the consumer needs to be educated on the product, and as to why they need or want it. Marketing then attempts to satisfy the needs of the consumer, with an organization focusing its efforts on a specific group of customers, who share a similar need. This is known as the target market. Author Malcolm Gladwell gives an interesting TED talk (Gladwell) on consumer choice and happ...
First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.
Marketing involves making consumers aware of the value of a product or service offering with the aim of increasing sales for the product or services, developing brand loyalty, and promoting the good or service. There are several techniques used by companies in marketing. These techniques are aimed at ensuring consumers are aware of how the new offering by the company satisfies their needs. Further, application of sound marketing techniques ensures that marketing is an exchange process that results in the long-term relationship. Transactional marketing and Relationship market are two of the common types of marketing applied by organizations who seek to develop their long-term relations with consumers or increase immediate sales for a product
It has been observed since the inception of Marketing that marketers target to only specific market and how they identify such market. There are certain criteria or base they use to identify the consumers who they would be serving to. Customers do have unique requirements satisfaction levels and aspirations. Some customers however are similar with respect to their requirements of goods and services. In such case if their needs are identified and they can be grouped in quantities of a specific size then it can be segmented. Now each customer group have specific expectations and businesses must cater to the needs of the segmented that has been targeted.
Furthermore, I will explain the application of theory relating to me and my purchase. I will also review the marketing activity of the organization where I purchased from. This is to explain how the two theories have been used in the marketing strategy. In addition, recommendations regarding how the marketing strategy could have been improved by applying the 2 buyer behaviour theories are given.
Consumers can be type/price/brand dominant. By type, we can look at sports, passenger cars etc. Consumers might be directed because of the price of the
Every company wants to understand why people decide to buy its products or others. Firstly, we have to understand why people buy certain kind of product. People buy products because they need them. A need is activated and felt when there is a sufficient discrepancy between a desired or preferred state of being and the actual state. (Engle£¬Blackwell and Miniard. 1995. p407 ) For example, when you feel hungry, what you needs is some food. It is very important for marketer to understand the needs of consumers. All the consumers may have the same needs, but the ways which they satisfy what they need are different. Here is a example, Chinese people would choose rice when they feel hungry, whilst British people may choose bread to satisfy their needs.
...nomically, consumers like to feel that they are getting an adequate amount of “bang for their buck,” or that the quality of the product matches or exceeds the amount at which it is priced. With the way the economy has been in the past 15 years, many people will jump at a good deal. Companies look at the sociology of their consumers also. They take into consideration things like gender, ethnicity, religion, culture, and age. These variables help the business to understand their target market and modify to fit the needs of those buyers. Psychologically companies will look at things like self-image, prestige, lifestyle and even food preferences. Behaviorism is everything that the consumer does, thinks, or feels. Companies will try to take these behaviors into consideration when creating their products, but it can be difficult because behaviors are so individual.
Relationships in marketing can compared as marriage between service provider and customer. Relationship marketing is not really a new concept the idea of a business gaining loyalty by meeting the needs and wants of a customer go back as far as the ancient traders)(Berry 1995; Gummesson 2002). Relationship marketing...
Think of personality traits as a back door to understanding motivations. Because personality traits and consumer behaviors can be measured accurately, understanding the relationships between the traits and behaviors allows a researcher to understand the motivations in purchases without having to ask people for this
Customer behavior can be defined as the process used by organizations, individuals and groups, to select, buy or use particular products or services to satisfy their needs and the impact it has on the society (Wikipedia, consumer behavior). Every product in the market is given a different value by an individual user based on the need it satisfies and also the level of the want. For example a person may put choosing a car as just for a means of transport from point A to point B but for another individual a car is not only used as a mode of transport but also as a means of his lifestyle. Many marketers use these difference of needs in consumers to create different marketing campaigns to attract consumers that use their products.
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...
Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behaviour and providing superior customer value. From a societal point of view, marketing is the link between a society's material requirements and its economic pattems of response. Marketing satisfies these needs and wants through exchange