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Customer Behaviour

In: Business and Management

Submitted By roseflakes
Words 3888
Pages 16
Chapter 1

1. Describe the interrelationship between consumer research, market segmentation and targeting, and the development of the marketing mix for the manufacturer of HDTV sets.

Consumer research describes the process and tools used to study consumer behavior. Broadly speaking, there are two theoretical perspectives that guide the development of consumer research methodology: the positivist approach (objective and empirical causal research) and the interpretivist approach (qualitative and based on small samples).

The focus of the marketing concept is consumer needs. Three elements for creating a strategic framework for discovering and analyzing those needs are market segmentation, market targeting, and positioning. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics. Because most companies have limited resources, few companies can pursue all of the segments identified for the company to pursue. Market targeting is selecting one or more of the segments identified for the company to pursue. Because many companies have adopted the marketing concept, the marketplace is filled with many products and services claiming to satisfy consumer needs. Positioning is developing a distinct image for the product or service in the mind of the consumer, an image that will differentiate the offering from competing ones and squarely communicate to consumers that the particular product or service will fulfill their needs better than competing brands. The marketing mix consists of a company’s service and/or product offerings to consumers and the methods and tools it selects to accomplish the exchange. Product, price, place, and promotion are the elements that make up this mix.

In answering this question, students need to think about the need or want for a high definition TV set. As thought

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