Please enable JavaScript.
Coggle requires JavaScript to display documents.
Understanding consumers, defining segments and targeting (Consumer buying…
Understanding consumers, defining segments and targeting
Consumer buying process
Evaluation of alternatives - consumers evaluate products as bundles of attributes that have varying abilities to satisfy their needs. Marketers must ensure that their products is in the evoked set of alternatives
Purchase decision - marketers must ensure that their product is available and offer solutions that increase possession utility, as customers may postpone the purchase due to unforeseen circumstances
Information search - the amount of time and effort to the search for information depends on (1) degree of risk involved (2) amount of experience the customer has with the product (3) the actual cost of the search in terms of time and money
Post-purchase evaluation- connection between the buying process and the development of long-term customer relationships.
Customers may have different responses after a purchase (delight, satisfaction, dissatisfaction, cognitive dissonance)
Need Recognition - an understanding of consumer wants is essential for market segmentation and the development of the program
-
Marketing segmentation
Differentiated marketing - dividing the total market into groups who have relatively common homogeneous needs., useful when customer needs are similar.
Individualized segmentation approaches - have become viable due to advances in tech, particularly communication tech and the internet.
Allow forms to combine demographic data with past and current purchasing behavior, so they can tweak marketing programs which allow them to match customers needs
Mass marketing - involves no segmentation aimed at whole market. Works best when entire market is homogeneous
Permission marketing- customers choose to become members of the firms target market
Opt in email list, advantage in that customers who opt in are alrady interested in the goods and services offered by the firm
Market segments
-
-
Psycho-graphic (VAL's introvert, extrovert, allocentric, psycocentric)
-