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Marketing and Consumer Behavior © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-1 chapter 12 Better Business 2nd Edition Solomon (Contributing.

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Presentation on theme: "Marketing and Consumer Behavior © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-1 chapter 12 Better Business 2nd Edition Solomon (Contributing."— Presentation transcript:

1 Marketing and Consumer Behavior © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-1 chapter 12 Better Business 2nd Edition Solomon (Contributing Editor) · Poatsy · Martin

2 Learning Objectives 1.How has marketing evolved over the production concept era, the sales concept era, the marketing concept era, and the customer relationship era? 2.What are the benefits of marketing to customers, sellers, investors, employees, and society at large, and what are the criticisms of marketing? 3.What are the two basic elements of a marketing strategy and the 4 Ps of the marketing mix? 4.How do firms implement a marketing strategy by applying the marketing process? 5.How do the various factors in the marketing environment influence a firm’s ability to manipulate its marketing mix? 6.What is the marketing research process and what are the elements of a good marketing plan? 7.How do the buying decisions and marketing processes in B2B markets compare to those in the consumer market? © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-2

3 Marketing Fundamentals Marketing oAn organizational function oA set of processes for creating, communicating, and delivering value to customers oManagement of customer relationships in ways that benefit the organization and its stakeholders Product oAny tangible good, service, or idea available for purchase in a market oPlus any intangible benefits derived from its consumption © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-3

4 The Evolution of Marketing © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-4

5 Production Era & Sales Concept Era Production Era Industrial Revolution until 1920s Limited supplies and strong demand A good-quality product sold itself Industrial Revolution until 1920s Limited supplies and strong demand A good-quality product sold itself Sales Concept Era Mid 1920s to early 1950s Production greater than demand Greater competition for customers Heavy public advertising Mid 1920s to early 1950s Production greater than demand Greater competition for customers Heavy public advertising © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-5

6 Marketing Concept Era 1.Identify customer needs before product is designed 2.Align all functions of the organization to meeting or exceeding customer needs 3.Realize a profit by satisfying customers long term © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-6

7 Customer Relationship Era Customer relationship management (CRM) Since the late 1990s Focuses a company’s efforts on long-term customer satisfaction Combines computer information technology with customer service and marketing communications Encourages customers to buy similar or supplementary products © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-7

8 Nontraditional Marketing Not-for-profit organizations must market their events, causes, locations, or individuals oCharitable organizations oCountries, states, and cities oChurches oMuseums oPeople © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-8

9 Benefits of Marketing Customers oUtility Form Ownership Time Place oValue = benefits/costs Investors Employees Society Sellers © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-9

10 Criticisms of Marketing Misuse of personal information Hidden Fees Consequences of purchase © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-10

11 Marketing Strategy © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-11

12 The 4 Ps © 2012 Pearson Education, Inc. Publishing as Prentice Hall Product differentiation Brand Product Cover costs Competitively priced Price Inform and persuade customers to buy Build positive customer relationships Promotion Distribution channel Distributors and wholesalers Place

13 The Marketing Process © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-13

14 The Marketing Environment © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-14

15 Marketing Research & Planning © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-15

16 Primary and Secondary Sources of Data Primary Sources of Data Observation Questionnaires Surveys Focus groups Interviews Customer feedback Sampling Controlled experiments Observation Questionnaires Surveys Focus groups Interviews Customer feedback Sampling Controlled experiments Secondary Sources of Data Government publications Commercial publications Organizational publications Magazines Newspapers Internal sources Government publications Commercial publications Organizational publications Magazines Newspapers Internal sources © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-16

17 The Marketing Plan A written document with: A clearly written marketing objective Performance of situational SWOT analysis Selection of a target market Implementation, evaluation, and control of the marketing mix (the 4 Ps) © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-17

18 The 5 Cs of Marketing © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-18

19 Target Markets © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-19

20 Consumer Behavior The ways individuals or organizations search for, evaluate, purchase, use, and dispose of goods and services Consumer behavior is different in the consumer market vs. the B2B market Knowledge of consumer behavior helps marketers: oSelect the most profitable target markets oImplement the marketing mix (4 Ps) © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-20

21 Consumer Markets 1.Need recognition 2.Information search 3.Evaluation of alternatives 4.Purchase or no purchase decision 5.Post-purchase evaluation © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-21

22 What Influences Consumer Decision Making? © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-22

23 Differences Between B2B and Consumer Markets © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-23

24 Business Buying Decisions Steps are similar to the five steps in the consumer decision-making process 4 Ps of the marketing mix remain relevant for a business purchase Business purchases are generally more rational, reasoned, and objective, based on influences such as: oThe state of the economy oTechnological factors oThe degree of competition facing the company oPolitical and regulatory concerns oOrganizational objectives, policies, and procedures © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-24

25 Chapter Summary 1.How has marketing evolved over the production concept era, the sales concept era, the marketing concept era, and the customer relationship era? 2.What are the benefits of marketing to customers, sellers, investors, employees, and society at large, and what are the criticisms of marketing? 3.What are the two basic elements of a marketing strategy and the 4 Ps of the marketing mix? 4.How do firms implement a marketing strategy by applying the five steps of the marketing process? 5.How do the various factors in the marketing environment influence a firm’s ability to manipulate its marketing mix? 6.What are the five steps of the marketing research process and the four elements of a good marketing plan? 7.How do the buying decisions and marketing processes in business-to- business markets compare to those in the consumer market? © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-25

26 © 2012 Pearson Education, Inc. Publishing as Prentice Hall 12-26


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