The Meaning of Marketing. Marketers are bridge-builders On one side there is the company or...
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Transcript of The Meaning of Marketing. Marketers are bridge-builders On one side there is the company or...
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The Meaning of Marketing
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Marketers are bridge-builders
On one side there is the company or organization
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Marketers are bridge-builders
On the other there are consumers
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Marketers are bridge-builders
The company or organization has resources Capital resources Human resources Technical resources
Physical resources Consumer franchise
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Marketers are bridge-builders
The consumers have needs Physical Safety Affiliation Prestige Fulfillment
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Marketers are bridge-builders
Marketers build a bridge between the company’s resources and consumers’ needs
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Marketers are bridge-builders
That bridge stands on four pillars
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Marketers are bridge-builders
Name the pillars on which the bridge stands
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Marketers are bridge-builders
Name the pillars on which the bridge stands
Product
Price
Place
Promotion
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Marketers’ two major decisions How to construct the pillars?
Product Place Pricing Promotion
Orchestration of the Marketing Mix
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Marketers’ two major decisions To where should the bridge be built? Demographics Geographics Psychographics
Market Segmentation Target Marketing
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Two sources of information Consumer Behavior
Principles of the behavioral and social sciences
Marketing Research Primary research data Secondary research data
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What is Consumer Behavior? Consumer psychology Consumer sociology Consumer anthropology Consumer (behavioral) economics
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Social Science Perspectives
Psychology
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of psychological makeup on:
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Social Science Perspectives
Sociology
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of social position and conditions on:
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Social Science Perspectives
Anthropology
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of culture, subculture and ethnicity on:
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Social Science Perspectives
Economics
Family formation Mating & dating Religiosity Political preferences
Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior
Effects of income, wealth and earning power on:
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Consumer Behavior perspectives
Psychology Sociology
Anthropology Economics
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Structure of the course Consumer psychology
Needs Motives Perception Learning Personality
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Structure of the course Consumer social psychology
Communications Attitude formation Attitude change
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Structure of the course Consumer sociology
Reference groups Group dynamics Social class
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Structure of the course Consumer anthropology
Culture Subculture Ethnicity
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Structure of the course Consumer economics
Decision making Perceive risk Innovation diffusion Adoption process