...1) Describe the consumer buying process: The five stage model has been created to understand how consumers make their buying decisions. The consumer passes through five stages: problem recognition, information search, evaluation of alternatives, purchase decision and post purchase decision. The buying process starts when the buyer recognized a problem or need triggered by internal or external stimuli, marketers need to identify circumstances that trigger a particular need so they can develop marketing strategies that trigger consumer interest. After the need has been recognized, the buyer becomes more receptive to information about a product and may enter to an active information search looking for reading material, phoning friends, going online to learn about the product. In the evaluation stage, the buyer forms preferences among the brands in the choice set. The consumer may also form an intention to buy the most preferred brand. In executing a purchase intention, the buyer makes up its mind for a product of choice and go ahead to get it. After the purchase, the consumer might experience dissonance that stems from noticing certain disquieting features or hearing favorable things about other brands and will be alert to information that supports his or her decision. In conclusion, it is important for smart companies try to fully understand the consumer buying decision process even though buyer’s do not always pass through all five stages and may skip or reverse some...
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...Chapter 02 The Role of IMC in the Marketing Process Multiple Choice Questions 1. According to the marketing and promotions process model, the marketing process begins with the: A. development of the marketing mix. B. development of a marketing strategy and analysis. C. development of the promotional mix. D. determination of the target market. E. establishment of marketing objectives. 2. A(n) _____ is a document that evolves from an organization's overall corporate strategy and serves as a guide for specific marketing programs and policies. A. strategic marketing plan B. integrated marketing communications plan C. situation analysis D. opportunity analysis E. competitive plan 3. _____ is a detailed assessment of the current marketing conditions facing the company, its product lines, or its individual brands. A. Strategic marketing plan B. Integrated marketing communications plan C. Situation analysis D. Opportunity analysis E. Competitive plan 4. _____ are defined as external areas where there are favorable demand trends, customer needs and wants are not being satisfied, and where a company thinks it can compete effectively. A. Market opportunities B. Market segments C. Competitive advantages D. Market strengths E. Market plans 5. To reach tweens (8-12 year olds), Jell-O brand gelatin marketers introduced X-treme Jell-O in wild berry, green apple, and watermelon flavors. The ads describe the gelatin flavors as...
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...BACKGROUND TO PRINCIPLES OF MARKETING INTRODUCTION TO MARKETING Every business, service or product oriented organization must complete its operation by disposing of its products or rendering its services to the customers. Various marketing concepts hold that customers will generally not buy a product they don’t know or they have not been asked/convinced to buy. It is therefore the role of the marketing function in any business to fill this gap and complete the business operation. Definition of Marketing The Chartered Institute of Marketing of the United Kingdom defines marketing as, “The management process which identifies, anticipates, and supplies customer needs efficiently and profitably.” Kibera (1996) defines marketing as “the performance of business and non-business activities which attempt to satisfy a target individual or group needs and wants for mutual benefit or benefits.” Kotler (2006), the American marketing guru provides the definition of marketing as “A social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others.” Kotler and Armstrong (2008) define marketing as “The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.” Core Marketing Concepts 1. Needs – The basic concept underlying marketing is that of human needs. Needs comprise of those things...
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...A Study on Impact of Packaging on Rural Consumer Buying Behaviour Towards FMCG Products in Bhopal (M.P) Imran Mehraj Dar Research Scholar in Management Studies Barkutallah University,Bhopal,(M.P) Imranmehraj.dar@gmail.com ABSTRACT In the ever increasing competition of today's global market the need for effective product promotion is crucial, and the product packaging has come to play a more important role as a brand communication vehicle. To achieve communication goals effectively, knowledge about consumer psychology is important so that manufacturers understand consumer response to their packages. This paper aims to investigate the impact of packaging on Rural Consumer buying behaviour towards FMCG products. The challenge for researchers is to integrate packaging into an effective purchasing decision model, by understanding Consumer’s behavior towards the packaging of FMCG products When consumers search for and process information in-store, the product's package can contain relevant and useful information for the consumer. Product packaging forms the end of the 'promotion-chain' and is close in time to the actual purchase and may therefore play an important role in predicting consumer outcomes. Packages also deliver brand identification and label information like usage instructions, contents, and list of ingredients or raw materials, warnings for use and directives for care of product. Packaging characteristics are being measured such as various sizes of Package, different...
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...MGT 6170-Marketing, Unilever in Brazil Case Study Table of Contents 1. INTRODUCTION ............................................................................................................... 2 1.1. 2. Aim of the report .................................................................................................. 2 CONSUMER BEHAVIOUR ON PURCHASE OF DETERGENTS IN BRAZIL ................. 2 2.1. 2.2. Consumer decision Process ................................................................................. 2 Influences on consumer decision making ............................................................ 2 3. MAIN PLAYERS AND THEIR CURRENT STRATEGIES .................................................. 3 3.1. 3.2. Unilever and their current strategies ................................................................... 3 P&G and their current strategies ........................................................................ 4 4. 5. SWOT ANALYSIS ............................................................................................................... 4 STRATEGIES FOR UNILEVER ......................................................................................... 5 5.1. 5.2. Growth Strategies ................................................................................................ 5 Market Penetration Strategy ................................................................................ 6 6. 7. CONCLUSION ...........................
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................................................................................5&6 5.o SWOT …..............................................................................................................6&7 6.o Segmentation..............................................................................................................7&8 6.1 Targeting.......................................................................................................... 6.2Positioning.......................................................................................................... 6.2Positioning............................................................................................................. 7.o Consumer buying process …............................................................................8&9 8.0...
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... Unit – 2 What is the role of the creativity in the segmentation process, Why can we say that having an excellent global positioning is one of the principal assets of a brand, What criteria should global marketers consider when making product design decisions, Identify several global brands. What are some of the reasons for the global success of the brands you chose? Abstract The study identifies segmentation processes and how it can be introduced to management to accept them. Often than not if management do not understand the process of segmentation and found out that what has been presented differ from what they know they quickly reject the proposed segmentations (Yankelovich & Meer, 2006). In segmentation, it allows the researcher to knowing how important a product or service is to the customers and this help in deciding what their expectations and are most likely to reveal their willingness to purchase your product. The study further identifies reasons why segmentations fail and steps needed to be taken to correct these errors. The literature elaborate on brand positioning and settling the confusion of brand positioning by managers straight. Consumer culture both local and global is also considered with it effect on brand positioning showing the reader the essence considering or adopting a hybrid type of positioning (Holt, Quelch, & Taylor, 2004). After going through this studies the reader will appreciate the essence of brand positioning using five recognized global...
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...COLLEGE OF SCIENCE, TECHNOLOGY AND APPLIED ARTS OF TRINIDAD AND TOBAGO (COSTAATT) SCHOOL OF BUSINESS AND INFORMATION TECHNOLOGY Transforming Lives, Transforming Communities, Transforming the Nation….One Student at a Time COURSE OUTLINE Academic Year 2011 - 2012 • VISION To be a student-centered, dynamic and innovative, world-class and multi-campus college, promoting excellence in teaching and learning, serving diverse communities, and producing lifelong learners who can compete globally. • MISSION To be the premier educational institution in: providing high quality, affordable and accessible education programmes serving the needs of business, industry and the diverse campus communities and facilitating the personal and professional development of its students, faculty and staff. DEPARTMENT NAME OF COURSE COURSE CODE CREDITS PREREQUISITE REQUIRED TEXT : : : : : : Management & Entrepreneurship Principles of Marketing MKTG 205 Three (3) NONE Principles of Marketing, Thirteenth Edition by Philip Kotler; Gary Armstrong REFERENCE TEXTS : Basic Marketing by William Perreault Jr.; E. Jerome Mc Carthy; Joseph Cannon APPROVED BY : ___________________________ ________________ CHAIR DATE 1 COURSE DESCRIPTION: This is an introductory marketing course. A realistic examination of how marketing is practiced in business today will be stressed throughout. The basic approach is to view marketing as a total system of business action and not simply as understanding...
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...Marketing Principles Lecture Notes 31/7/2014 Marketing Process Create value for customers and build customer relationships Capture value from customers in return 1. Understand the marketplace and customer needs and wants. 2. Design a customer driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture Value from customers to create profits and customer equality Create value for customers and build customer relationships Capture value from customers in return 1. Understand the marketplace and customer needs and wants. 2. Design a customer driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture Value from customers to create profits and customer equality Figure 1.1 Figure 1.1 To explain the various elements of the marketing process, we must first understand the steps in the marketing process. There are five steps in the marketing process and each step consists of many elements. Figure 1.1 present a simple five step model of the marketing process. In the first four steps, the first three steps lead up to the four and most important step; building profitable customer relationships. The fifth (or) final step involves capturing value in return in the form of current and future sales, market share, and profits by treating superior customer value the firm...
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...CHAPTER-1 INTRODUCTION “Brands are like human beings. They are born, fed and nurtured, made strong and responsible so that they can be faithful friends of the people (customers), form mutually beneficial and satisfying relationships with them and become their companions for life. Such brands, make their parents (organization or corporate) proud of them. The best brands are the ones who help in forming and sustaining strong long term “parent-brand-people” relationships. These brands form the potential for present growth and future expansion. They help the organizations conquer peaks at the time of booms and stay afloat and swim at times of depression.” We come across a number of brands in our daily lives. Our morning starts with using a toothpaste (Colgate, Pepsodent or Close-up), using a bathing soap (Lux, Fairglow or Cinthol) and shampoo (Clinic All Clear or Vatika), wearing clothes ( Allen Solly, Levi’s or Raymonds), breakfast bread (Britannia or Modern) and butter (Amul) or jam (Kissan), lunch and dinner (Nature Fresh or Pillsbury flour and Safal vegetables), morning and evening tea and coffee (Tetley, Nescafe or Bru), going out in a car (Hyundai Santro, Honda Accord or Mercedes Benz). Talking on the cell phone (Motorola, Nokia, Siemens or Samsung), watching television in the evening (LG, Sony or Philips) or listening to music (Philips or Apple) etc. But how often do we think of what all a company does to put a positive imprint (fight for a shelf space) in the mind of...
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...Elements Of The Marketing Process Introduction [pic]This assignment will discuss and summarise key issues and elements of the Marketing process. It generates the strategy that underlies sales techniques, business communications, and developments. It is an incorporated process that can be modelled in a sequence of steps: the situation is analysed to identify opportunities, the strategy is formulated for a value proposition, tactical decisions are made, the plan is achieved and the results are monitored. TASK ONE • Explain the various elements of the marketing process Marketing Marketing is the social process by which individuals and organisation obtain what they need and want through creating and exchanging value with others. (Kotler & Armstrong, 2010). The marketing process of accompany typically involves identifying the viable and potential marketing opportunities in the environment, developing strategies to effective utilise the opportunities, evolving suitable marketing strategies, and supervising the implementation of these marketing efforts. (M. Patidar, 2012). Upload Your Assignment 1. Discuss and summarise key issues and element of the process Sainsbury’s which is one of the most prosperous companies in the world has been chosen for case study. There are four key elements of marketing process, environment analysis, and strategy development, the choice of the marketing mix and implementation and control. The Marketing Process Marketing process has several steps and these...
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...MC53: Positioning & Creative Strategy Exam project spring 2012 CPR. Nr. 280880-3030 Table of content Part one: Category Background .............................................................................................................. 2 Presentation of chosen product............................................................................................................ 2 Market background information´s ....................................................................................................... 2 Part two: Analysis of Competitive Advertising ........................................................................................ 4 General characteristics of the car industry .......................................................................................... 4 Skoda Citigo advertising analysis ....................................................................................................... 4 Seat Mii advertising analysis ............................................................................................................... 6 Part Three: Brand Advertising Strategy ................................................................................................... 9 VW Up advertising analysis ................................................................................................................ 9 Potential new advertising for VW Up ............................................................................................... 10...
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...Economic and Competitive Environment (c) Social Cultural Environments (d) Technological Environment 2.2 Micro Environment 2.3 Competition (a) Competitors of Bosch Kettle 3. Critical analysis of relevant theories 3.1 SWOT Analysis 3.2 Portfolio Analysis 3.3 Porter’s Matrix 3.4 The Boston Matrix (The Product Portfolio) 3.5 Response Hierarchy Model (a) The AIDA Model (b) The innovation – adoption Model (c) The DAGMAR Model Market Attractiveness Model: the GE matrix 3.6 Critical Analysis 4. Critical Analysis of Buyer Behaviour 4.1 Consumer as Buyer 4.2 Conclusion and Analysis 5.0 Buyer Behaviour 5.1 Buyer Behaviour Role in Marketing 5.2 Consumer as Buyer 5.3 Why People Buy 5.4 How people choose (a) what influence Buyers? 6.0 Segmentation Targeting and Positioning Strategies 6.1 Segment Identification 6.2 Consumer basis 6.3 Physiographic 6.4 Geodemographics 6.5 Psychographics 6.6 Segmentation Techniques 6.7 Targeting Through Marketing Mix 6.8 Positioning 6.9 Practical Approaches 7.0 Marketing Mix 7.1 Product 7.2 Price 7.3 Place 7.4 Promotion 8.0 BIBLIOGRAPHY 1. Introduction The kettle assigned for marketing is Bosch TWK 6831. We have analyzed marketing environment and the key issues that are related to...
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............................................. 10 Acknowledgement ................................................................................. 41 1 Some Marketing Gyan ! Marketing club of G.I.M Disclaimer This document is NOT going to make a marketing genius out of you. This is just to give you some idea of the different concepts of Marketing Management & the other related subjects in the same domain. Marketing is a subject that can’t be learnt by burning your midnight oil & just writing a few definitions on the exam-paper. Marketing needs to be practiced in daily life- we all market our thoughts to the consumers. These consumers may vary from case to case, from fellow MBA students to the professors & sometimes the employers visiting our campus during the final interviews. We need to constantly inculcate the marketing acumen in our thought process to become a successful marketer. In order to become a good marketer you need to have a good start of your marketing career in some good marketing organization. That is at the center of...
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...and explore the Buying Process • To introduce and examine the concept of Product Life Cycle • To introduce and explore the concept of Perceptual Mapping • To familiarize learners with the Marketing Mix and the 4 P’s • To investigate the concept of: • • • • • Positioning Distribution Channels Advertising Promotions Pricing • To familiarize learners with Marketing Economics THE 7 STEPS OF MARKETING STRATEGY DEVELOPMENT • The marketing strategy process is a circular function: 1. 2. 3. 4. 5. 6. 7. Consumer Analysis Market Analysis Review of the Competition and Self Review of Distribution Channels Preliminary Marketing Mix Development Evaluate the Economics Revision and extension of steps 1-6 until a consistent plan emerges THE 7 STEPS OF MARKETING STRATEGY DEVELOPMENT • The order of the 7 steps may be rearranged by the marketer depending on the situation. • This is one of the most comprehensive models for marketing strategy development. Others include: 1. STP (segment – target – position) 2. The 4 C’s (consumer behavior – company analysis – competitor analysis – context) STEP 1: CONSUMER ANALYSIS • All people do not have the same needs. • The goal of consumer analysis is to identify segments or groups within a population with similar needs so that marketing efforts can be targeted to them. • Important questions for marketers include: 1. 2. 3. 4. What is the need category? Who is buying and who is using...
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