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MEETING CHANGES AND CHALLENGES (MARKETING CONCEPT (CONSUMER RESEARCH (The…
MEETING CHANGES
AND CHALLENGES
MARKETING CONCEPT
CONSUMER RESEARCH
The process & tools used to study consumer behavior
SEGMENTATION
Process of dividing the market into subsets of consumers with common needs or characteristics
MARKET TARGETING
The selection of one or more of the segments identified to pursue
POSITIONING
Developing a distinct image for the product in the mind of the consumer
CATEGORIES OF
CONSUMERS
INDUSTRIAL OR
ORGANIZATIONAL
CONSUMER
Who are buying & disposing products for the purposes:
running of their organization's activities
business
PERSONAL CONSUMERS
Individual shoppers who search for purchase and dispose of products and services for their own or entire households consumption
SUCCESSFUL RELATIONSHIP
VALUE
The ratio between the customer's perceived benefits & the resources used to obtain those benefits.
SATISFACTION
The individual's perception of the performance of the product or service in relation to his or her expectations.
TRUST
Foundation for maintaining a long-standing relationship with customer.
RETENTION
The objective of providing value is to retain highly satisfied customers.