...consumer buying behaviour must be studies and understood before an appropriate marketing plan can be developed. In general, organisations and companies need to know and understand the behaviour not only for their own customers but also for all consumers. Multiple roles of Consumers As users of a product, consumers are concerned with product features, thus users define what is needed from a product. Payers are consumers who pay for the product and are primarily concerned with its price and other financial considerations (reasonable life cycle of the product, cost of maintenance, cost of consumables, etc). Buyers focus on the logistics of the products (online, by phone, mail or retail center).In a particular purchase situation, the roles may be filled by a signal individual or by multiple people, for example, a parent may decide on the type of baby food that they wish to purchase but their partner may also beinvolved in the decision making or transaction, while the baby is the ultimate user of the food. The stages of consumer buying process The consumer buying process: Irrespective of the particular role, consumers constantly face a number of choices: -Whether to purchase -What to purchase. -Where to purchase. -From which supplier or retailer. -How to pay for the purchase. Boddy (2008) indicated that marketers need to have a sound understanding how these decisions are made in order to develop appropriate marketing strategies. The consumer buying decision process illustrated...
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...3 Consumer and organisational buyer behaviour OBJECTIVES After studying this chapter, you should be able to: 1. Understand the different motivations of consumer and organisational buyers 2. Formulate strategies for approaching consumer and organisational buyers 3. Recognise the importance of relationship management KEY CONCEPTS • • • • • • • • • • • • ACORN brand personality buy class buy phase buying centre centralised purchasing choice criteria consumer decision-making process creeping commitment decision-making unit (DMU) financial lease interaction approach • • • • • • • • • • • just-in-time (JIT) delivery/purchasing life-cycle costs lockout criteria operating lease organisational buying behaviour reference group relationship management reverse marketing strategic partners total quality management (TQM) value analysis 78 Sales environment 3.1 DIFFERENCES BETWEEN CONSUMER AND ORGANISATIONAL BUYING There are a number of important differences in emphasis between consumer and organisational buying that have important implications for the marketing of goods and services in general and the personal selling function in particular. Fewer organisational buyers Generally, a company marketing industrial products will have fewer potential buyers than one marketing in consumer markets. Often 80 per cent of output, in the former case, will be sold to perhaps 10–15 organisations, meaning that the importance of one customer to the business to business marketer is far in excess...
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...15 - 20 21 - 31 32 - 43 44 - 47 48 - 54 References 55 - 57 Task 1 Word count 1618 Marketing Planning Planning is an essential task to ensure THE AGE continues to be a market leader. Drummond et al (2005) suggest planning should be systematic and structured, and is required in order to adapt to the changing business environment. The corporate objectives are at the heart of the marketing planning process (Brassington et al, 2000). The marketing plan will contribute to the corporate plan by developing specific functional strategies and tactics to achieve the corporate objectives. Figure 1.1 demonstrates the process. THE AGEs corporate plan is ‘to build on profits from the previous year and continue to be Britain’s number one quality selling newspaper’. From this, the marketing plan could be ‘to increase the number of subscribers’. Marketing planning process diagram A common framework to use in the planning process is the SOSTAC model, see figure 1.2 Marketing planning process • • Situational Analysis – The first stage of the planning process is to look at where the THE AGE is now - Britain’s number one selling quality newspaper with 340k subscribers. Objectives – Where we want to go. The objectives should be based on SMART objectives Specific, Measurable, actionable, realistic and time bound. Ensure the newspaper stays as Britain’s number one selling newspaper by increasing subscriptions. Strategy – Choose a method to achieve the objectives. Ansoffs...
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...Amusan, Ofayo Sarah-, 20370615 3sco Amusan, Ofayo Sarah-, 20370615 3sco Sarah Amusan 20370615 CIPD Level 3 Human Resources Introduction to Genesis Housing Association: Genesis housing association was formed in April 2011, it is a group merge between Paddington churches housing association, Springboard, Pathmeads and Genesis Housing Group. Genesis housing Association is a long and exciting history dating back to nearly half a century, from the time the Paddington churches housing association was first form in (1965) which was due to the housing crisis that was in some parts of London. Genesis housing association has come a long way in that time, and the external environments as changed but they continue to be guided by consistence principles of helping people in and around London with support, providing accommodation and turning lives around. Genesis Housing Association believe it is their role to provide quality homes and services to their customers and the community they live. They combine their social purpose with commercial approach to fill the gap in a dysfunctional housing market and create value in the properties they own and places in which they operate. Genesis Housing Association provides different types of tenures, products and services which is aim to help customers meet their different aspirations as their circumstances change over time. There are around 100,000 people living in Genesis homes at any given time, they believe in proving homes...
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...Elvive * Lynx * Dove * Nivea Not only do we give our Customers the opportunity of such great offers and deals we offer a complete package. Each Customer is assigned to a highly skilled Sales Representative and Sales Support Representative that is on hand to deal with any problems they may have, also we have a Logistics team that will deal with the order to ensure it is safely delivered to our Customers preferred destination, safely and at a low cost. Other services that we offer to all of our customers: * Field Sales Force – A team of 6 Sales Representatives with over 100 years combined experience & Knowledge that will go to Customers and discuss their needs. * Customer Services throughout and after the order process – A team of 5 Sales Support to deal with any queries that customers may have. * Warehouse & Logistics – We have a fully integrated 80,000sq FT Warehouse stocked with over 10,000 lines to enable quick dispatch straight to our Customers. * EDI Invoicing – Our Customers receive there invoice electronically the same day the order is collected from our Warehouse or delivered. * Trade shows both UK and Overseas – Our customers get the chance to meet with our sales reps all over the world at our regular trade shows, we carry them out all over the world from Hong Kong, UK and Australia. * Design and marketing – we provide our customers with PDF’s of...
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...strategies of private life insurance companies 2. A study on “why companies should go for outsourcing” 3. Effectiveness of advertising on real estate sector 4. Study on consumer expectations and perceptions towards consumer loans 5. Workers attrition rate at hotel industry is increasing. Study regarding this issue 6. Attrition rates at different sectors 7. Effectiveness and scope of employee referrals in the process of talent sourcing 8. Study of training needs across different industries 9. Study on creation of luxury brand 10. Strategies used to build successful Internet based customer services 11. Measuring the effectiveness of retail banking of a nationalised bank compared to a MNC 12. Conspicuous consumption 13. Study of awareness and acceptibility of UPVC windows and door systems 14. Opportunities of Financing the NANO’s in Bangalore 15. Changing trends in FMCG industry in India 16. A study of best HR practices in service industry 17. Fundamental analysis of Indian telecom companies 18. Study of consumer behaviour in automobile industry 19. customer buying behaviour towards insurance products 20. Promotion strategies followed in Insurance sector 21. Study on changing consumer preference towards organised retailing from un-organised retailing 22. study on “impact of advertising in B2B marketing” 23. Distribution network & general insurance industry 24. A study on distribution channels in aluminium industry 25. Study on strategies for promoting retailers’...
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...Foundation Design: Coaching and Mentoring Introduction Organisations are increasingly evolving quicker due to globalisation and advances in industries and technology. These events have made market environments progressively more competitive and have changed the economic climate in which organisations operate. Unfortunately some organisations have had to implement restructures and reductions in workforce to ensure survival. Foundation Design are one of these organisations whose company size has gone from 1,513 employees to 780 employees. During the restructure of the organisation the Chief Executive Officer (CEO) identified that changes were required to its leadership profile and coaching and mentoring programmes. These changes were made to embed new skills and behaviours and support cultural change within the organisation. Why Coaching and Mentoring? Foundation Design are making steps to move towards a learning organisation, one that recognises the benefits in developing its employees, as individuals and teams. Learning is also seen as a step in the facilitation of behavioural change. The ‘Learning organisation’ was developed by Peter Senge (1990) and supported the need for learning and development of workforces, coaching is one way of making these developments. Coaching can support learning which is taking place through Leadership training and can assist in bridging the knowing-doing gap, by encouraging action to be taken. Coaching is ‘the facilitation of...
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...MARKETING FOR MANAGERS (MKTG5009) TRIMESTER 3 2015 Individual buying behaviour vs Group buying behaviour ASSIGNMENT 1 ROBIN KARUMBA STUDENT ID: 18331141 WORD COUNT: 1450 EXCLUDING REFERENCE Introduction The consumer buying behaviour varies from one customer to another. (Graves 2013) states that it is difficult understanding human emotions effect on the buying decision process yet because we humans have very similar neural wiring we tend to make similar mistakes what he calls ‘mind gap’. This is what leads us to walk out of a shop believing we bought what we wanted. This study will attempt to understand behavioural difference between individuals and group consumers based on influence from various environmental factors. This raises the need for consumer behaviour analysis using a nominated product buying decision process. In this research I’ll use my past experience in the purchase of a laptop for university purpose and a large quantity of laptops for an organisation I worked for. This document this will be categorised into individual and Organisation buying decision process The Individual Analysis * Understanding the customer: influences Personal and Social To get an accurate individual analysis, it is important to understand the consumer demographics and background that influences the decision process. The Organisation * Understanding the customer: influences Buy class and product type The organisation is a multinational food and beverage industry...
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...strategies of private life insurance companies 2. A study on "why companies should go for outsourcing" 3. Effectiveness of advertising on real estate sector 4. Study on consumer expectations and perceptions towards consumer loans 5. Workers attrition rate at hotel industry is increasing. Study regarding this issue 6. Attrition rates at different sectors 7. Effectiveness and scope of employee referrals in the process of talent sourcing 8. Study of training needs across different industries 9. Study on creation of luxury brand 10. Strategies used to build successful Internet based customer services 11. Measuring the effectiveness of retail banking of a nationalised bank compared to a MNC 12. Conspicuous consumption 13. Study of awareness and acceptibility of UPVC windows and door systems 14. Opportunities of Financing the NANO's in Bangalore 15. Changing trends in FMCG industry in India 16. A study of best HR practices in service industry 17. Fundamental analysis of Indian telecom companies 18. Study of consumer behaviour in automobile industry 19. customer buying behaviour towards insurance products 20. Promotion strategies followed in Insurance sector 21. Study on changing consumer preference towards organised retailing from un-organised retailing 22. study on "impact of advertising in B2B marketing" 23. Distribution network & general insurance industry 24. A study on distribution channels in aluminium industry 25. Study on strategies for promoting retailers'...
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...who set up data gathering systems to support commercial intelligence products that can be profitably sold to all players in a market. Quoted from: Tutors 2 u .com 1) LO1.1, LO1.2 A: Understand buyer behaviour, the purchase. The Decision Making Process. As follows I have explained the main stages of the D MP (Decision making process) for the individual and the industrial purchaser. The industrial buyer goes through a similar process to the individual customer but, the process for the industrial buyer is longer due to the DMU (Decision-Making Unit) to make a purchase a more rational decision needs to be made. Research advocates that a customer goes through a five stage decision-making process in order to make a purchase. This is shown in the stages below. Stage One : Problem / Need Recognition The buying process starts here with the need or problem being recognised. The buyer will recognise a problem or a need and will decide how much information is needed for the purchase. E.g. I am hungry, we need a new sofa, and I have a headache. If the need is strong and you are nearby to a product or service that will alleviate the need then a purchase would be instant if not then the process of information search would commence. In the...
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...The salesperson’s role in CRM success: Exploring the value of salespersons’ mapping of buying centre structure Prabakar Kothandaraman, William Paterson University, NJ, USA Raj Agnihotri, William Paterson University, NJ, USA* Rolph E. Anderson, Drexel University, Philadelphia, USA Perhaps the most important, yet underutilised resources in customer relationship management are salespeople. Drawing upon literature from social network theory, personal selling, sales management, and industrial buying behaviour, buying centre mapping is proposed as a tool for salespeople to improve customer relationship management (CRM). A framework linking a salesperson’s systematic mapping of buying centre structure to the CRM strategy development and implementation is outlined. Implications for theory and practice are discussed in detail. Keywords Industrial buying, Salespeople, CRM, Social network keywords Introduction The man who correctly understands how a particular structure works can prevent it from working or make it work differently with much less effort than a man who does not know these things. Bailey (1969, p. 108) Development of marketing strategies and tactics relies heavily on the ability of salespeople to understand buying organisations that they deal with and to bring that knowledge back to disseminate throughout the selling organisation for better customer relationship management (CRM). Managing customer relationships is the focus of successful business-tobusiness marketing...
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...revolution’, company’s culture values : constant growth, improvement and development; strong collaboration between team, makes Asos the perfect employer for me as I have strong professional interest in Fashion, which keeps me constantly motivated and eager to learn. Asos contributes greatly to investing in employee’s development, persistently pushing personal limits, giving access to training courses and development days. ASOS has websites targeting the UK, USA, France, Germany, Spain, Italy and Australia and also ships to over 190 other countries from its central distribution centre in the UK. After getting experience in Buying department, I would like to work within Marketing as there is a huge potential of expansion in Russian clothing Market. Cultural knowledge, commercial awareness in addition to skills developed throught working in buying department will make me a perfect candidate for the job. 2.1 Strengths in relation to future responsibilities in desired job role • Excellent communication and...
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... Review questions and application exercises on p. 134 and 135 Ch. 7 Product-selling Strategies that Add Value Article: Harte Hanks; Create and Nurture B2B demand with social media, 2010 Article: Ricci, L.R., ― What changed our sales cycle and Why?‖, 2005. Review questions and application exercises on p. 154 and 155, case on p. 155 Ch. 8 The Buying process and buyer behaviour. Article belonging to CH 8: How you slice it; smarter segmentation for your sales force. Describe positioning as a product-selling strategy Explain the cluster of satisfactions concept Discuss product-positioning options Explain how to sell your product with a price strategy Explain how to sell your product with a valueadded strategy Positioning involves: • Those decisions and activities intended to create and maintain a certain concept of the firm‘s product in the customer‘s mind Differentiation refers to: • Your ability to separate yourself and your product from that of your competitors • It is the key to building and maintaining a competitive advantage The set of benefits and values the company promises to deliver to customers to satisfy their needs A well-informed customer will usually choose the product that offers the most value • • • Applies to both new and existing products May be necessary to reposition products several times Salespeople have an important and expanding role in differentiating products • ...
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...GLOBAL SOURCING MANAGEMENT AASM04-J LONG QUESTIONS AND ANSWERS STUDY UNIT 1 1. FACTORS INFLUENCING THE INTERNATIONALISATION OF BUSINESS The last two decades have seen rapid changes in the global economy. National economies are becoming more integrated. A single, interdependent, global economic network has gradually developed and is still in the process of unfolding. Global megatrends which continue to influence the international business world include technological innovation; the shift in emphasis from manufacturing through services to the Information Age; the development of regional trading blocs; and changing demographic patterns. The main driving forces for globalisation are: reduced trade and investment barriers that enable the free flow of goods, services and capital on a global scale unprecedented technological change and progress, especially with regard to communication, information and transportation technologies competition International trade blocs multinational corporations Because of the globalisation of markets and production, over the last two decades, world trade has grown faster than world output. Foreign direct investment flows have increased substantially. Imports have penetrated more deeply into the world’s industrialised economies and competitive pressures have increased continuously in one industry after the other. These factors have collectively added to the complexity of international management and of international purchasing...
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...Word count: 3,750 Content Page Introduction 11 1.1a Compare and contrast different organisational structure 11 to 14 1.1b Fords organisational structure 1.1c Google’s organisational structure 12 1.1d Comparing organisational structures 1.1e Compare and contrast different organisational culture 13 1.1f Ford’s organisational culture 1.1g Google’s organisational culture 1.1h Comparing the organisational culture 14 1.2a Relationship between organisational structure and culture 14 1.2b Impact on the performance of a business 1.3 Factors that influence behaviour at work 15 2.1a Effectiveness of different leadership styles 15 to 16 2.1b Ford’s leadership style 2.1c Google’s leadership style 2.1d Comparing leadership styles 16 2.2 Organisational theory 16 2.3a Different approaches to management 17 to 18 2.3b Ford’s management approach 2.3c Implications of Ford’s management approach on Martin Air Con 2.3d Google’s management approach 2.3e Implications of Google’s management approach on Martin Air Con 18 3.1 Different leadership styles and...
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