Submitted by: Submitted by mrjimenezb
Views: 455
Words: 467
Pages: 2
Category: Business and Industry
Date Submitted: 05/12/2011 10:51 PM
Analyzing customer market
3 Groups of customers
* Consumers individuals and house hold that purchase goods and services for personal and non–business use
* 1) Aim of marketing is to met and satisfy target customers needs and wants
* Low involvementlow cost
* High involvementhigh in price and usage and low in frequency purchase. (Car, House, appliances, ect)
* The field of consumer behavior studies how individuals and households, select, buy, use, and dispose of goods services, ideas, or experiences to satisfy their needs and desires
* 2) Understanding consumer behavior and knowing customers in never simplesatisfaction and benefits
* Customers may say one thing but does anotherprovide solutions for price and quality.
* AIDA model (Attentionreassurance, Interaction, Desire, Action)
* Product needs performance and provide benefits and satisfaction
* They may not be in touch with their deeper motivations
* The starting point for understanding buyer behavior is the stimulus-response model
* The marketers’ task is to understand what happens in the buyer’s consciousness between the arrival of outside stimuli and the purchase decisionspositioning as solution/benefit providerto get a source of revenue
* 3)Two major methods of purchasing:
* Impulsive: emotional influenced by brand you like
* Planned
* Budget oriented- price and quality comparison
* 4) Personal reasons
* Economic purchase (value of money)
* Life style (Health-Fashion-Occupation)
* Family orientation (financial security)
* Loyalty (Brand store)
* 5) Consumer adoption process
* Innovators (2.5%)
* Early adopters (13.5%)
* Early Majority (34%)
* Late Majority (34%)
* Laggards (16%)
* 6) External stimuli
* A consumers buying behavior is influenced by cultural, social, personal, and psychological factors
*...