chapter 6 notes.txt

• 1. Need recognition
• 2. Information search
• 3. Evaluation of alternatives
• 4. Purchase decision
• 5. Post purchase evaluation

• 1. Need
• 2. Want
• 3. Demand

Occurs when consumer�s current level of satisfaction doesn�t equal their desired level of satisfaction.

Specific product that will satisfy the need

Marketing information comes to us

Looking for information on purpose

• 1. Internal- things remembered, experiences
• 2. External- family, television ads, friends

• 1. Degree of risk involved in the purchase
• 2. Amount of expertise with the product category
• 3. Actual cost of the search

Narrowed down set of alternatives that the customer is considering

• 1. Product availability
• 2. Possession utility

• 1. Delight
• 2. Satisfaction
• 3. Dissatisfaction
• 4. Cognitive dissonance

• 1. Dollar value of the purchase increases
• 2. Opportunity costs of rejected alternatives are high
• 3. Purchase decision is emotionally involving

Primary reason for variations in the buying process

Demographics, perceptions, motives, interests, attitudes, opinions, lifestyles

Culture, subculture, social class, reference groups, opinion leader�s e

• 1. Decision-making complexity
• 2. Individual influences
• 3. Social influences
• 4. Situational influences

• 1. Physical and spatial
• 2. Social and interpersonal influences
• 3. Temporal(time)
• 4. Purchase task or product
• 5. Consumer disposition

• 1. Commercial markets
• 2. Reseller markets
• 3. Government markets
• 4. Institutional markets

• 1. Buying center
• 2. Hard and soft costs
• 3. Reciprocity
• 4. Mutual dependence

• 1. Problem recognition
• 2. Develop product specifications
• 3. Vendor id and qualification
• 4. Solicitation of proposals or bids
• 5. Vendor selection
• 6. Order processing
• 7. Vendor performance review

• 1. Mass marketing
• 2. Differentiated marketing
• 3. Niche marketing

Involves no segmentation whatsoever and is an undifferentiated approach. Works best with homogeneous market. Results in low marketing costs

Involves dividing the total market into groups of customers with common or homogeneous needs and developing a strategy to pursue one or more of these groups

Attract buyers in more than one segment by offering a variety of products that appeal to different needs

Focusing on a single marketing segment and attempting to gain maximum share in the segment.

Focuses marketing efforts on one small, well-defined market segment or niche that has a unique, specific set of needs.

• 1. One-to-one marketing
• 2. Mass customization
• 3. Permission marketing

Creating an entirely unique product offering for each customer

Extension of one-to-one marketing; refers to providing unique solutions to individual customers on a mass scale

Customers choose to become part of a firm�s market segment; customers give companies permission to specifically target them in their marketing efforts. For example: opt-in email list.

• 1. Identifiable and Measurable
• 2. Substantial
• 3. Accessible
• 4. Responsive
• 5. Viable
• 6. Responsive
• 7. Viable and sustainable

• 1. Behavioral segmentation
• 2. Demographic segmentation
• 3. Psychographic
• 4. Geographic

• 1. Innovators
• 2. Thinkers
• 3. Achievers
• 4. Experiencers
• 5. Believers
• 6. Striver
• 7. Makers
• 8. Survivors

• 1. Single segment targeting
• 2. Selective targeting
• 3. Mass market targeting
• 4. Product specialization
• 5. Market specialization

• 1. Type of organization
• 2. Organizational characteristics
• 3. Benefits sought or buying processes
• 4. Personal and psychological characteristics
• 5. Relationship intensity

• 1. Benefits sought
• 2. Product usage
• 3. Occasions or situations
• 4. Price sensitivity

Physical dollars

Reliability, integration ability

• 1. Age
• 2. Gender
• 3. income
• 4. Occupation education
• 5. Family life cycle
• 6. Generation
• 7. Ethnicity
• 8. Religion
• 9. Nationality
• 10. Social class

• 1. Lifestyle
• 2. Motives
• 3. Personality

• 1. Regional
• 2. City/county size
• 3. Population density

• Chapter 6 class notes
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