...responsible for selling the goods in the market so he must have the knowledge how the consumers actually make their buying decisions. For this he must study the consumer buying decision process or model. It involves five stages. 1.) Need recognition:- consumer buying decision process starts with need recognition. The marketer must recognize the needs of the consumer as well as how these needs can be satisfied. For example if a person is hungry then food is desired or if it is a matter of thirst than water is desirable. 2.) Information search:- in consumer buying decision process information search comes at second number. In this stage consumer searches the information about the product either from family, friends, neighborhood, advertisements, whole seller, retailers, dealers, or by examining or using the product. 3.) Evaluation of alternatives:- after getting the required knowledge about the product the consumer evaluate the various alternatives on the basis of it’s want satisfying power, quality and it’s features. 4.) Purchase decision:- after evaluating the alternatives the buyer buys the suitable product. But there are also the chances to postpone the purchase decision due to some reasons. In that case the marketer must try to find out the reasons and try to remove them either by providing sufficient information to the consumers or by giving them guarantee regarding the product to the consumer. 5.) Post purchase behavior:- after buying the product consumer...
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...it is widely believed by market analyst that as the market awareness grows there will be an increased rise in demand for electric cars. Opinion among industry analyst suggest that incentives will simulate the growth which falls on different assumptions such as gasoline prices, government purchase incentives, fuel economy standards and availability of electric cars. 2. Company Background Sanger Automotive Companies, Inc., was founded in 1950 in Fort Myers, Florida as a Cadillac dealership and has consistently grown over the year acquiring 8 lines of luxury car franchise therefore becoming one of the most successful auto dealership in the United States posting an annual sale of $700 million in 2011. Today, Sanger Automobile Company is a major player in luxury-car dealership in Florida regardless of the brand which they represent. The company value preposition is delivering exceptional customer service and has developed a good reputation with...
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...Student ID:bb 209 | Name : Zubair Nasir | Subject : | Consumer Behavior | Assignment | 1 (In-Class) | Date of Submission : | Oct 11, 2013 | Secured Marks | 20 20 | Date Submitted : | 28/11/2015 | Max Marks | | Answer the following Questions:- Q1. I wish to acquire a piece of clothing, a blue jeans from Levis. Identify from this statement by different types of needs and goals. (3 marks) ANS) In this Scenario the consumer wants to acquire a piece of clothing which would be considered as an innate need because that is a basic requirement of any human being, but when it is a specified luxury brand it is an acquired need as it is a general perception of the people and considered luxury good. As we talk about goals, the first statement about acquiring a piece of clothing is a generic goal going forward to the second statement it specifies blue jeans from LEVIS which is more of a product-specific goal Q2. There has been extensive research regarding rational versus emotional motives during purchase. Explain these two motives. Supporting your answer with examples, explain how you as a consumer buy products using these two different motives. (4 marks) ANS) When a buyer decides to purchase a product without thinking over the matter logically and carefully (i.e., without much reasoning), she is said to have been influenced by emotional product buying motives. Emotional product buying motives include the following: 1...
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...followed the traditional customer driven marketing way by following the path to create customer value and later getting the value back and the behavior of the customers can affect the demand for its bikes. The value stream is: * Understanding market place and customers need and wants * Designing a customer driven marketing strategy * Construct an integrated marketing strategy that deliver superior value * Build profitable customer relations and create superior customer delight * Capture value from customers to create profits and create customer equity The factors able to affect the desire of an Indian customer to buy a Harley Davidson are familial and personal. Marketing process 1.1 Understanding Market place and customer needs and wants Has Harley Davison really done some research about the needs and demand of their particular project? , it is questionable; they have looked into the two wheeler market and seen there is a tremendous demand for two wheelers in India. But a product like Harley Davidson is not a product used to travel from A to B it’s a luxury product meant for the rich people from a certain income groups. According to table xxx in ( ).this income group 220000 $ to 1, 4 Billion $ has been known to buy expensive cars, but will they also buy Harley Davidson bikes? Is there a need or demand for that kind of product that’s the question. In this category properly not because seeing CEO’s on Harleys is not good for their images. But...
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...discusses the impact of pricing, relationship management, prestige seeking consumer behavior on customer satisfaction. Specifically as it relates to formulating a marketing strategy focused on long-term customer relationship management. This thesis discusses the existing consumer knowledge dealing with aspects of pricing. The purpose of this thesis is to combine the concepts of existing research on impacts of pricing on customer satisfaction and studies, which examined entirely different aspects of customer satisfaction, and synthesize valuable new information. Objectives The objectives of the study can be summarized as follows: * Contribute to the emerging literature on pricing and consumption in examining and defining the key perceived values. * Interpret and expand existing consumer behavior models. * Generate a framework to help marketers to build and monitor the pricing of products. * Stimulate further research on pricing and customer satisfaction. Problem Statement How can mangers use various pricing strategies to build stable, long-term relationships with their customers? Pricing has a significant and broad impact on how consumers view and use products, However, it is more difficult to judge the effects that pricing has on product consumption. The relationship between pricing and consumption lies at the core of customer strategy. The extent to which a customer uses a product during a certain time period often determines whether he or she will...
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...UNIT I Marketing Plan Assigment MBA 5501 Advanced Marketing By Markie Hinson 1 Executive summary Arimount is a well established beauty and grooming company. Arimount has been operating in the hygiene market for 20 years now. As far as the financials are concerned the company has a track record of an average return on investment. Arimount is currently developing a new deodorant product using a new chemical that will allow the deodorant to work for up to five days even after showering. This product has been named Arimount Extralast deodorant. The objective of launching this new innovative product is to maximize the market share of the company and increase profits. 1. Situational analysis 1.1 SWOT Analysis In-depth insight and extended knowledge of hygiene industry, experienced research and development department and a well networked existing distribution channels are the strengths of Arimount. The weaknesses of Arimount include the reliance of the company on debt capital. Opportunities include being a part of the growing hygiene industry and gaining cost effectiveness through economy of scale. Threats for Arimount include competition from existing players in this market and studies that discuss the negitive side effects of the chemicals on the skin and to the environment. 1.2 Competition The three primary competitors of Arimount Extralast deodorant are Klima Antiperspirant, Adidas Absorbent-Deo Wetness Control and Secret Clinical Strength Deodorant. Europe based Klima antiperspirant...
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...was a premium watch brand launched by Titan a few years ago; the brand was aimed at creating a unique perception among consumers. The challenge was to create and shape a perception unique to the brand, since premium watches in India were associated with the Swiss brands Omega and Rolex, or Tag Heuer and other similar brands, which were more contemporary in nature. There were several interesting possibilities for Chakravarti to consider. Would a conventional-positioning approach be sufficient? Was it necessary to obtain some insights regarding the application of the uniqueness aspect to the self-perception of consumers? How were such aspects of uniqueness related to other established brands? How important was the “Swiss-made” label? Did the buyers and prospective buyers of premium watches hold any specific stereotypical images of such watches? The case delved into several aspects of the perceptual fields associated with consumer behavior with the objective of finding the most appropriate approach to further the prospects of the Xylys brand. No tC The liberalization of markets, the rising disposable income, exposure to western...
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...Ch10 Marketing Channels Supply Chinas and the Value Delivery Network Upstream: Supply raw materials, components, parts, information, finances, and expertise Downstream: Marketing channels towards customers, including wholesales and retailers, * Supply chain: make-and-sell view, which suggest productive inputs as starting point * Demand chain: Sense-and-respond view But sometimes it takes a step-by-step, linear view of purchase-production-consumption activities Value Delivery network: A network composed of company, suppliers, distributors, and ultimately customers who partner with each other to improve the performance of the entire system in delivering customer value The Nature and Importance of Marketing Channels Marketing Channel (Distribution channel): A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user * Affect every other marketing decision * Use imaginative distribution systems * Involve long-term commitment to other firms How Channel Members Add Value * Give up some control over how and to whom to sell products * But they create greater efficiency in making goods available to target markets by better contacts, experience, specialization and scale of operation * Intermediaries reduce the amount of work by both producers and consumers * Transform assortments of products made by producers...
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...The influence of product price and brand on Economics students’ of IIUM spending behavior Nurul Faezah binti Md.Azizan International Islamic University Malaysia Abstract Consumers’ decision making on purchase is a type of analytical process and frequently they undergo a similar psychological process in deciding what products and brand to buy. Product price and brand are several factors that affect customer’s spending behavior in satisfying their needs and hence, it is important for manufacturer and retailers to know what factors that encourage customers to buy a product. The purpose of the present paper therefore, is to investigate the influence of product price and brand among students who represent adolescents, on their spending behavior. Questionnaires were distributed among students from Kuliyyah Economics and Management Sciences of International Islamic University Malaysia (IIUM) to view their judgment about this issue. The results then propose that most of the students valued product price more than brand name of products in selecting things to purchase. Table of content Page Introduction 4 Literature Review 7 Methodology 10 Findings/Discussion 12 Conclusion 17 References 19 Appendix A 21 Introduction Background...
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...macro-environment. With the free market environment that we operate in our competitors are able to improve property value by meeting and going beyond the expectations of customers which will provide a means for them to cash on the sale of properties as there are little barriers. So threats can come from the international arena as well as the local market. The following SWOT analysis captures the key strengths and weaknesses within the company and describes the opportunities and threats facing our store. The Strengths for Comfort Zone Gated Estate are indicated below: Offers excellent customer service Safety and security enjoyed by residents Social Status High demand by professional community Affordable prices Strong team of high marketing consultants Solar powered units Hurricane safe homes An educated customer base who recognizes the benefits that More for More offers The Weaknesses for Comfort Zone Gated Estate are indicated below First Gated Community project for the company Lack of funding to carry out extensive market research Inability to perfectly forecast demand of services related to the number of employees on staff at any one time. The Opportunities for Comfort Zone Gated Estate are listed below A growing market with a large percentage of target customers not yet aware of the Gated Estate. Increased revenue as more and more returning residents and young wealthy professionals want to acquire home ownership but are unable...
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... Size of Indian Automobile market 7 Key Market Trends for SUVs / Automobiles 8 Key market trends of SUVs 10 Segmentation of the market 11 Price Based Segmentation 11 Entry Level 11 Mid Segment 11 Premium Segment 11 Luxury 11 Price Wise Segmentation for Indian SUVs 12 Usage Based Segmentation 13 Off Roading: 13 Soft Roading: 13 Consumer Behavior noticed in Buying SUVs 13 Psychological factors 13 Personal Factors 14 Social Factors 14 Positioning of different brands in SUV market in India 15 Entry Level SUVs: 15 Renault Duster 15 Mahindra Scorpio 15 Tata Safari 16 Mid Segment: 16 Tata Aria 16 Force One 17 MAHINDRA XUV 500 18 Skoda Yeti 18 Ford Endevour 19 CHEVROLET Captiva 19 HONDA CRV 19 TOYOTA Fortuner 20 Key Advertising and Promotion campaigns adopted by leading brands 21 Mahindra XUV 500 21 Digital Marketing – FAce Book & Twitter 21 Launch Campaign 21 Force One 21 Big B as the Brand Ambassador 21 Toyota FORTUNER 23 Campaign Tag: “The Art of Power” 23 Toyota Fortuner Marketing Campaign: Experience the Power of Art on your Mobile 23 Results and achievements 24 RENAULT DUSTER 26 Big, Beautiful, Efficient 26 Campaign Tag Line- Drive the Change 26 What was GOOD? 27 Short commings 27 Production Constrains - All other campaigns were DELAYED: 27 Tata Aria 28 Physical Display 28 Online Campaign 28 Marketing Strategies adopted by two key players 29 Mahindra XUV 500 29 Metaphor Cheetah...
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...Table of contents Executive summary 2 Companies profile and History. 3 The company’s proposition. 3 Chronology in introducing products, and other landmarks 3 Plants for manufacturing: 4 Land marks 4 Choosing Brand 5 Main Competitors 6 SWOT analyze Hero Motor Corp 6 Macro Environment 9 Consumer Behaviour. 9 The buying decision behavior for buying 10 Marketing plan, strategy (BCG’s and SBUs 10 Pricing 11 Channels of distribution 11 Promotion Mix 12 Executive summary Company background Companies profile and History. Hero MotoCorp Limited is the World's single largest two-wheeler motorcycle company. The com-pany has three manufacturing facilities in Dharuhera, Gurgaon at Haryana and Haridwar at Uttarak-hand. The company head quarter is based in New Delhi, India .It started manufacturing bicycles, in 1984 the company was incorporated in a joint venture with Honda and given the name Hero Honda Ltd. Honda was making the R&D work and Hero was manufacturing. The company’s proposition. In the 1980s, Hero Honda grabbed everyone's attention with its campaign 'Fill it - Shut it - Forget it' Chronology in introducing products, and other landmarks 1985 : CD100 1989: Sleek 1991: CD 100 SS 1995 : Splendor 1999: Hero Honda CBZ first 150 cc in Indian market 2001: Passion and joy 2002: Dawn and Ambition 2003: CD Dawn, Splendor+ and Passion Plus, and Hero Honda Karizma, the industry's first 223cc motorcycle. 2004: Ambition 135 and CBZ 2005: Super...
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...------------------------------------------------- CHAPITRE 1: INTRODUCTION AU MARKETING Science très récente: 19ème siècle aux Etats-Unis, après la deuxième guerre mondial en France. « Marketing is the task of creating, promoting and delivering goods and services, to customers and businesses”. _Philip Kotler “Marketing is to satisfy needs at profit”. _Philip Kotler “Marketing contributes to achieving objectives of organizations whilst creating, reveling and promoting value for customers”. _Levy Lindon “Marketing is the process by which companies create value for costumers and build strong customers relationships is order to capture value from customers in return”. _Kutler * The VMOST theory Vision (valide au moins 5 ans) Mission (valide de 3 à 5 ans: “qu’est-ce que je suis en train de faire mnt pour que dans 5 ans…”) Objective (court-terme : 1 an ; long-terme : 3 à 5 ans) Strategy (comment je vais réaliser mes objectifs) Tactics (action plan (très court terme)) * Les objectifs doivent être SMART : Specific Measurable Achievable Realistic Time * After company’s VMOST: Marketing’s role & activities Questions: -Which customer will be served? (Segmentation and targeting) -How will we create value for them? (Differentiation and positioning) - Why do you do what; how and what exactly do we do? Marketing approach takes 3 phases: -1. Market research (SWOT…) -2. Strategic marketing (How) -3. Operational marketing (tactics) ...
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...Confirming Proofs Chapter 3 Strategic Market Segmentation Segmenting markets is a foundation for superior performance. Understanding how buyers’ needs and wants vary is essential to designing effective marketing strategies. Effective approaches to segmenting markets may be one of the most critical factors in developing and implementing market-driven strategy. The need to improve an organization’s understanding of buyers is escalating because of buyers’ demands for uniqueness and the growing array of technology available to generate products to satisfy these demands. Companies are responding to the opportunities to provide unique customer value with products ranging from customized phone pagers for business users to self-designed, individualized greeting cards for consumers. Indeed, McKinsey research underlines the weakness of thinking about markets only in general terms—talking of market trends, growth markets, mass markets, declining markets, and so on—and collecting information that describes only broad trends, where differences within markets are averaged-out. They point to the identification of opportunities from a deeper understanding of markets at a “granular” level. Market fragmentation and increasing granularity characterize a growing number of markets. The compelling logic of market granularity is that effective strategy can emerge only from a much finer understanding of market segments, their needs, and the capabilities required to serve them.1 Best Buy provides an interesting...
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...International Journal of Advanced Corporate Learning (iJAC), Vol 3, No 4 (2010) • Home • About • Log In • Register • Search • Current • Archives Home > Vol 3, No 4 (2010) > Atici Font Size: [pic] [pic] [pic] Impulse Purchasing Behaviors of the Turkish Consumers in Websites as a Dynamic Consumer Model: Technology Products Example Bünyamin Atici, Ugur Bati Abstract This paper examines the concept of impulse purchasing behavior online basically. The phenomenon of impulse purchasing has been researched in consumer research as well as for example in psychology and economics since the 1950s. A detailed review and analysis of the literature asserts that there are some unsolved issues regarding the state of knowledge on impulse purchasing behavior. Furthermore, nowadays consumers buy an increasing amount of purchases on the Internet. The current conceptualizations of impulse purchase behavior do not adequately capture impulse purchase behavior over the Internet. Today several researchers have claimed that the phenomenon of impulse purchasing should be examined also in the context of online shopping environment. This article aims to reveal that what attitudes of the customers are the points in question while purchasing on internet in terms of impulse buying. The results of our exploratory research are consistent with our conceptualization, and present a strong base for future research. Full Text: PDF [pic] International Journal of...
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