...marketing plan” Submitted by: Mannu Kantt S1123714 Date: 17 June 2013 TABLE OF CONTENTS INTRODUCTION 4 COMPARISON OF CONSUMER AND BUSINESS MARKETS 6 METHODS OF EVALUATION 7 IMPORTANCE OF THE EVALUATION METHODS & SUMMARY 14 REFERENCES 15 INTRODUCTION At present every individual has varied preferences and infinite aspirations that pose a significant challenge for a marketer to prompt consumers to purchase a particular product and build long term affinity for a brand. A marketer needs to have an understanding of the target market aimed for the product; comprehensive knowledge about the consumer’s buying behaviour and factors that influence the buying behaviour. There are two types of markets in the business environment and these are categorised as consumer market and business market. In the consumer market, the goods or services are bought directly by the end of the chain consumer for the personal use. For example- breakfast cereals usually called convenience goods. Also, shopping products such as televisions, and electronic devices as well as professionals offering services like lawyers are classified as speciality products. In contrast, business market involves purchase of products that facilitate the development of an end product for the consumption by the consumers ultimately. This includes products and services that are rented or purchased by other organisations, manufacturers, schools, banks, and government agencies. Buyers in both markets...
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...(a) Political and Legal Environment (b) 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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...Unit 17: Marketing Intelligence Buyer Behaviour and Market Research Techniques This assignment is going to be looking at understanding buyer behaviour and the purchase decision making process. It will cover describing the main stages of the process, along with explaining theories of buyer behaviour and factors that may affect this. Finally it will evaluate the relationship between brand loyalties, corporate image and repeat purchasing. Being able to use marketing research techniques will also be included within this essay; evaluating different types of market research, using sources of secondary data to achieve marketing research objectives and assessing the validity and reliability of these findings. All of the above topics will conclude with a proposal of a market research plan to obtain information in any given situation. LO1: Buyer Behaviour Figure 1.1a: http://www.enotesmba.com/2014/06/marketing-notes-consumer-decision-making-process.html (Accessed: 23rd Nov 15) Figure 1.1a: http://www.enotesmba.com/2014/06/marketing-notes-consumer-decision-making-process.html (Accessed: 23rd Nov 15) Engel, Blackwell and Kollat (1968) developed a model of the consumer buying, decision making process in five steps (see figure 1.1a): Problem or need recognition, information search, evaluation of alternatives to meet this need, purchase decision and post-purchase behaviour. They believed that these five stages displayed what led a shopper to purchase a new product (http://theconsumerfactor...
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...Research Objectives | 4 | Review of Literature | 4 | Segmentation Plan | 5 | Research Hypothesis | 6 | Research Design | 6 | Results and Practical utility of the research | 6 | Scheduling the research | 7 | Results and outcomes of the research | 7 | Glossary of Terms | 8 | References | 9 | 1. Executive Summary The vibrant and exotic atmosphere of Delhi local markets can make shopping lots of fun. One of the biggest sectors is apparel sector. Local apparel markets in Delhi sell hundreds or thousands of products daily. It is not only famous in Delhi but people from all over India do their wedding shopping from Delhi shops which are cheap and of new fashion. People do planned as well as unplanned shopping from these local shops. It is usually seen that buyers purchase products which they have not planned and this phenomenon of unplanned purchasing is termed as impulse. There are many factors which lead to unplanned or impulsebuying. This leads us to determine the factors that lead to impulse buying behaviour in consumers as well as to determine which segment (based on VALS classification scheme) of consumers show the most impulse buying behaviour. 2. Background of the problem All over the world people prefer buying from local markets which provides cheap and reliable products. Shop owners try to exploit impulses, which are associated with the basic need for instant satisfaction. A buyer in the shopping store might not specifically be shopping for the...
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...Marketing I (Fundamentals) Week 2 Marketing Orientation Marketing Management Ø The analysis , Planning , Implementation and Control activities of management with regards to marketing. Marketing Management Philosophies 1. Production Concept Focus on production and distribution efficiencies Consumers will favour products that are available and affordable 2. Product concept Focus on product improvement Consumers favour better products 3. Selling concept Focus on more selling and promotion Consumers won’t buy unless you persuade them 4. Marketing Concept Focus on satisfying target markets needs and wants better than competitors as a way to achieve organisational goals. 5. Societal Marketing Concept Ø Same as marketing Ø But do it in a way that the society’s well-being is maintained or improved. The pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare –e.g. fast food. The societal concept seems appropriate bin an age of: • • • • Environmental problems Resource shortages Rapid population growth World-wide economic problems 1 Marketing I (Fundamentals) • Neglected social services Marketing Challenge into the Next Century 1. Growth of nonprofits marketing 2. The information Technology Boom 3. Rapid globalisation 4. The changing world economy 5. The call for move ethics and social responsibility 6. The new marketing landscape The 4ps 1. Product • • • The product can be tangible or intangible The right product for...
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...BAM461: MARKETING Name: Nam Hoai Nguyen Student ID number: s1128290 Module tutor: Kandis Watson Course: MBA Word count: 2,854 I. According to Bloisi, W., Cook, C.W. and Hunsaker, P.L (2003), consumer market refers to the purchase of goods and services purely for personal consumption. Consumer market and 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...
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...MARKET SEGMENTATION THE ACCESSORIES MARKET FOR MEN MKW 2402 CONSUMER BEHAVIOUR Chrismal Perera 24855871 Thisura Goonawardena 25633872 Pratul Venglet 24943436 Keshav Ramkhelawon 23549785 Srijan Menon 25058568 EXECUTIVE SUMMARY This report critically analyses the internal influences on consumer’s behavior and their buying decisions. The influences described are Personality and Self Image, Motivation and Involvement. These Influences are understood to create a Marketing Strategy for the launching of the New Classic Watch we have chosen. A few potential target markets were analysed, such as Fashion Watch Buyers, Sports Watch Buyers and finally the buyers of Classic Watches. We chose to target Classic Watches as we better understood the internal influences affecting this group and could come up with a strong strategy to successfully target this market and earn a potential return. The need for Self Esteem is a major influence for buyers of Classic Watches. Their professions or social groups demand sophistication and splendor, the individual within these groups have high self esteem and feed their image with products such as classic collectible watches. The level of involvement may be very high because of the huge price tag that accompanies the product. We have recommended to premium price the product to reflect its superior craftsmanship and the expensive material used, it also reflects the majesty and the elegance of the superior classic watch. The watch...
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...q Consumer Behaviour 1 q 1 Consumer Behaviour Customer is profit, all else is overload.... x This chapter provides an introduction to consumer behaviour. Consumer is the most important person. The business revolves around the consumer. After finishing this chapter one should be able to understand: q What is meant by consumer behaviour q Consumer decision-making process q Marketing strategy and consumer behaviour q Indian consumer and his characteristics x INTRODUCTION All of us are consumers. We consume things of daily use, we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods, speciality goods or, industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. While buying, we also consider whether to buy or not to buy and, from which source or seller to buy. In some societies there is a lot of affluence and, these societies can afford to buy in greater quantities and at shorter intervals. In poor societies, the consumer can barely meet his barest needs. The marketers therefore tries to understand the needs of different consumers and having understood his different behaviours which require...
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...q Consumer Behaviour 1 q 1 Consumer Behaviour Customer is profit, all else is overload.... x This chapter provides an introduction to consumer behaviour. Consumer is the most important person. The business revolves around the consumer. After finishing this chapter one should be able to understand: q What is meant by consumer behaviour q Consumer decision-making process q Marketing strategy and consumer behaviour q Indian consumer and his characteristics x INTRODUCTION All of us are consumers. We consume things of daily use, we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods, speciality goods or, industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. While buying, we also consider whether to buy or not to buy and, from which source or seller to buy. In some societies there is a lot of affluence and, these societies can afford to buy in greater quantities and at shorter intervals. In poor societies, the consumer can barely meet his barest needs. The marketers therefore tries to understand the needs of different consumers and having understood his different behaviours which require an in-depth study...
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...Jayne Hill | M218 | 2791 | | | 2. Module aims This initial marketing module, which assumes no prior knowledge of marketing, aims to introduce students to some of the key ideas of marketing and is suitable for both marketing and non-marketing students. It examines the environment within which organisations operate and the role of marketing within the organisation in order for students to be fully able to understand the context within which marketing personnel work, and the different activities which are carried out under the umbrella term of ‘marketing’. Concepts central to an understanding of marketing are considered: 4 P’s (product, price, promotion and place), segmentation, targeting and positioning, services marketing and buyer behaviour. * Develop a basic understanding of the key concepts of marketing; & * Understand business functions and the engagement with micro and macro environments. 3. Format of delivery One hour lecture and one hour tutorial each week. 4. The StudyNet site for this module will be employed to post relevant and important information. Please check it regularly for lecture slides, tutorial and test materials, general news items, etc. 5. (a) Weekly programme:...
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...q Consumer Behaviour 1 q 1 Consumer Behaviour Customer is profit, all else is overload.... x This chapter provides an introduction to consumer behaviour. Consumer is the most important person. The business revolves around the consumer. After finishing this chapter one should be able to understand: q What is meant by consumer behaviour q Consumer decision-making process q Marketing strategy and consumer behaviour q Indian consumer and his characteristics x INTRODUCTION All of us are consumers. We consume things of daily use, we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods, speciality goods or, industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. While buying, we also consider whether to buy or not to buy and, from which source or seller to buy. In some societies there is a lot of affluence and, these societies can afford to buy in greater quantities and at shorter intervals. In poor societies, the consumer can barely meet his barest needs. The marketers therefore tries to understand the needs of different consumers and having understood his different behaviours which require an in-depth study...
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...1. Title The effect of brand placement on brand recall and buyer behaviour. 2. Introduction Brand placement is an art in itself. Correct placement of a brand may give flying colours to the company and on the other hand wrong placement may ruin the image of the brand and then a considerable investment may be again required to re-build the lost brand image. Huge amounts are spent every year by various organisations worldwide in order to build their brand. Companies have placed their brands in various television programmes, movies, internet, music videos and many other sources according to their need. Apple laptop computers have been used in more than 1500 movies and TV shows. Brand Placement can create both a positive as well as negative impact on the buyer behaviour and brand recall (Karrah 1998). 3. Research Background Brand placement is an attractive option for marketers for some of the advantages such as low cost, substantial reach, low competition and longer shelf life. Placement can provide a competitive edge to the brand as compared to competing brands. The use of Nokia mobile in The Dark Night has given tremendous amount of publicity and reach to the Nokia 5800 before the launch of the handset (Bartlett,1932). There is a unique relation which carries the brand to the consumer which modifies the buyer behaviour as well as the brand recall process. TATA has been selling all its products in the name of one single brand i.e. TATA whereas if any other company...
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...Table of Contents: * Aims and Objectives 3 * Introduction 4 Consumer Buyer Behaviour * Methodology 7 * Main Body 12 * Analysis/Findings 13 * SWOT Analysis 14 * Conclusions & Recommendations 15 * Bibliography 16 * Evidence of Research 17 Aims and Objectives Instructions have been given to the report writer to carry out a marketing survey for new Dental Practice which will specialise in providing treatment for kids. Primary and secondary research methods will have to be applied in order to investigate consumer buyer behaviour. All results will have to be evaluated in a form of report. Afterwards, SWOT analyses will have to be carried out. All findings should facilitate vital decision making and also reduce possibility of failure. Key questions to answer and points to complete: * Is there a market for a Child Dental Practice in Galway? * How many similar businesses/competitors do I have in the chosen location? * Need to explore consumer buyer behaviour and understand the requirements of consumer buyer behaviour. * Understand the importance of market research of this line of business. * Draw appropriate conclusions and recommendations which will provide prospectus for future actions regarding setting up this business Introduction Marketing is an essential part of the whole business world nowadays. It requires understanding the needs and wants of buyers, especially if new product or service will be introduced. Before setting up...
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...PROCESS: 3 1.2 EVALUATE THE BENEFITS AND COSTS OF A MARKETING ORIENTATION FOR A SELECTED ORGANIZATION: 4 TASK 2: 5 REPORT on “The Concept of Segmentation, targeting and positioning” 6 2.1 Macro and Micro environment Factors Which Influence Marketing Decisions 6 2.2 Segmentation Criteria to be used for Products in different Markets 8 2.3 TARGETING STRATEGY FOR A SELECTED PRODUCT/SERVICE 9 2.4 HOW BUYER BEHAVIOUR AFFECTS MARKETING ACTIVITIES IN DIFFERENT BUYING SITUATIONS 10 2.5 NEW POSITIONING FOR A SELECTED PRODUCT/SERVICE: 10 Task 3: 11 UNDERSTAND THE INDIVIDUAL ELEMENTS OF THE EXTENDED MARKETING MIX 11 3.1 HOW PRODUCTS ARE DEVELOPED TO SUSTAIN COMPETITIVE ADVANTAGE 11 3.2 EXPLAIN HOW DISTRIBUTION IS ARRANGED TO PROVIDE CUSTOMER CONVENIENCE 12 3.3 EXPLAIN HOW PRICES ARE SET TO REFLECT AN ORGANIZATION’S OBJECTIVES AND MARKET CONDITION 13 3.4 ILLUSTRATE HOW PROMOTIONAL ACTIVITY IS INTEGRATED TO ACHIEVE MARKETING OBJECTIVES 13 3.5 ANALYSE THE ADDITIONAL ELEMENTS OF THE EXTENDED MARKETING MIX 14 Task 4: 15 USE THE MARKETING MIX IN DIFFERENT CONTEXT 15 4.1 Plan Marketing mixes for two different segments in consumer markets 15 4.2 Illustrate differences in marketing products and services to businesses rather than consumers 15 4.3 Show how and why international marketing differs from domestic marketing 16 CONCLUSION: 16 TASK 1: “The Concept and process of marketing” 1.1 VARIOUS ELEMENTS OF MARKETING PROCESS: Marketing: Marketing concept is a philosophy...
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...Difference between Organizational Buying Process and Consumer Buying Behaviour Difference between Organizational Buying Process and Consumer Buying Behaviour Your consumer and business customers approach purchasing in two very different ways. To successfully market your business to both types of clients, you need to understand the differences between the consumer and business buying processes. The business processes you use and the kinds of products you offer enter into the way that businesses and consumers purchase your products and view your business. Planning Most purchases made by a business are planned in advance, where the same purchases might be impulse buys for a consumer. For example, a business will plan an employee lunch, choose the menu in advance and have the order in place to be catered on a particular day. A consumer's decision on where to go for lunch is often made just minutes before the lunch break. To be able to accommodate both business and consumer purchases, you need to have a structure in place that allows businesses to plan their purchases while still offering impulse options to consumers. Decision-making In many cases, the consumer decision-maker is the person that ultimately buys the product. For example, the mother of a family may decide to buy a new sandbox for the children, so she is either the one that goes out to make the purchase or is on hand with the father to make the final choice. A business purchasing process starts with an idea...
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