This presentation will start with marketing environments and systems. It will explore environments like the economic, competitive, technological, socio-cultural environments, etc. The presentation will then progress towards market oriented strategic planning. It will also talk about the BCG matrix. It will also analyze consumer behavior and the factors that can influence it. The presentation will take a look at the different types of buying behavior. It will then move on towards market segmentation along with product and market specialization. Before ending it will take a look also at the marketing mix.
[...] Deciding on the Final Price PHYSICAL DISTRIBUTION Importance of Physical Distribution Place Utility & Time Utility to Products Increase in Customer Base A Highly Promising Activity for Cost Reduction PHYSICAL DISTRIBUTION (CONTD) The FOUR major component functions: Designing the Physical Distribution System Transportation Warehousing Inventory Management PHYSICAL DISTRIBUTION (CONTD) Designing the Physical Distribution System Analysis of What the Customers Want Analysis of What the Competitors are Doing Designing by Unit Specification and Considerations Optimizing the Cost of the System Maintaining System Flexibility PHYSICAL DISTRBUTION (CONTD) Transportation Assessment of Transportation Requirements Choosing the Right Transport Mode or Mix of Transport Modes Routing of the [...]
[...] THESE PROFITS IN TURN ARE USED TO SUSTAIN STAR BUSINESSES AND FUND NEW QUESTION MARK BUSINESSES DOGS: THESE ARE BUSINESSES IN DECLINE AND THE COMPANY HAS THE OPTION TO “HARVEST” OR ANALYZING CONSUMER BEHAVIOR ANALYZING CONSUMER BEHAVIOR FACTORS INFLUENCING CONSUMER BEHAVIOR BUYING ROLES TYPES OF BUYING BEHAVIOR THE BUYING DECISION PROCESS FACTORS INFLUENCING CONSUMER BEHAVIOR CULTURAL FACTORS: Culture Sub-culture Social Class SOCIAL FACTORS: REFERENCE GROUPS FAMILY ROLES & STATUSES FACTORS INFLUENCING CONSUMER BEHAVIOR(2) PERSONAL FACTORS Age and Life-Cycle Stage Occupation Economic Circumstances Lifestyle Personality & Self-concept ANALYZING CONSUMER BEHAVIOR (CONTD) PSYCHOLOGICAL FACTORS Motivation Learning Perception Beliefs & Attitudes BUYING ROLES INITIATOR: THE FIRST PERSON TO SUGGEST THE IDEA OF BUYING INFLUENCER: A PERSON WHOSE VIEWS IMPACT THE BUYING DECISION DECIDER: THE PERSON WHO DECIDES ON WHAT, WHEN & WHERE TO BUY THE PRODUCT OR SERVICE BUYER: THE ACTUAL PURCHASER USER: THE PERSON WHO USES/CONSUMES THE PRODUCT OR SERVICE TYPES OF BUYING BEHAVIOR COMPLEX BUYING BEHAVIOR: HIGH INVOLVEMENT, VERY EXPENSIVE, INFREQUENTLY PURCHASED,VERY RISKY, SELF-EXPRESSIVE PRODUCTS (DESIGNER JEWELLERY, CUSTOM-DESIGNED SPORTS CARS, HOUSING) DISSONANCE REDUCING BUYING BEHAVIOR: HIGH INVOLVEMENT, EXPENSIVE, INFREQUENTLY PURCHASED, SELF-EXPRESSIVE PRODUCTS (FURNITURE, WHITE GOODS, PCs) TYPES OF BUYING BEHAVIOR (CONTD) VARIETY SEEKING BUYING BEHAVIOR: LOW INVOLVEMENT, FREQUENTLY PURCHASED, INEXPENSIVE PRODUCTS (PASTRIES, BISCUITS, SNACKS) HABITUAL BUYING BEHAVIOR: LOW INVOLVEMENT, FREQUENTLY PURCHASED, INEXPENSIVE PRODUCTS (SUGAR, SALT, FLOUR, FOODGRAINS) THE BUYING DECISION PROCESS Problem/need Recognition Information Search Evaluation Of Alternatives Purchase Decision Postpurchase Behavior PROBLEM/NEED RECOGNITION From Internal Stimuli: Hunger Thirst Fear From External Stimuli: Neighbor's Purchases Advertisements Window Shopping Newspapers & Magazines INFORMATION SEARCH From Personal Sources: Family Friends Neighbors Acquaintances INFORMATION SEARCH (CONTD) From Commercial Sources Advertisements Dealers Salespersons Packaging Displays INFORMATION SEARCH (CONTD) From Public Sources Mass Media Chambers of Commerce Consumer Rating Magazines INFORMATION SEARCH (CONTD) From Experiential Sources Handling the Product Examining the Product Using the Product EVALUATION OF ALTERNATIVES Successive Sets in Consumer Decision-Making Total Set Awareness Set Consideration Set Choice Set Buying Decision PURCHASE DECISION Interfering Factors Attitudes of Others: Opposing and intense opinions of family members, close friends and acquaintances Unanticipated situational factors: Changes in income, job transfer, loss of employment, change of priority e.g. [...]
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