Lectures 8 & 9
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This 0 page Class Notes was uploaded by Alex on Thursday February 25, 2016. The Class Notes belongs to 301 at University at Buffalo taught by Dr. Dick in Spring 2016. Since its upload, it has received 77 views. For similar materials see Marketing in Business, management at University at Buffalo.
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Date Created: 02/25/16
Marketing Environment Continued 0 Economic Environment 0 Size of Economy Gross Domestic Product GDP directed towards in ann 0 Consumer Ability amp Willingness to Buy Ability to Buy Gross Income Taxes Disposable Income Disposable Income necessities l Discretionary Income 0 Necessities are different for everyone Taxes amp necessities impact what we do with money in the future almost like 39fixed cots 0 Environmental Levels It is easy to do business when things are good but it is important to keep chugging when things are bad Eg O HyundaD Hyundai gave their cars out during the recession and if customers couldn t be paid back they could just return them no charge Big return for Hyundai 0 Macro Levels Social slower Economic faster Technological much faster amp regulatory Technological Environment issues Television HDDigital TiVo cuts advertisements l bad for marketing method of delivery now can just use web Telephone went from only phone calls I Basically everything portable computer amp ads Can be delivered based on consumer locann Genetic Engineering drugs made for speci c individuals in the future Computer amp WorldWideWeb retail and advertising has changed due to social media Smart Products integrate more technologies into individual products Technology s Impact on Marketing Product Form Physical properties of a product 0 O O 0 Advertising Where they re placed but also on phone based on location Retailing online big impact of brick amp mortar stores Marketing Research broadened because of technology 0 Key Issues in Technology Environment 0 Rate of Change very fast 0 Media Fragmentation Much easier to advertise back in the day because of fewer channels television 0 Fewer ads Needed because only need one on each channel 0 Now I so many channels now so wider variety of audiences segmentation 0 Not everybody needs to be satis ed 0 Need to be thoughtful because different channels attract a different audience 0 Regulatory o Protecting Consumers o Consumerism o Protecting Competition 0 Political Pressure 0 Micro arrows symbolize in uence 0 Consumers Competitors Stakeholders Suppliers Channeb OOOO 0 Objectives 0 Consumer DecisionMaking DecisionMaking Process DMP DecisionMaking Unit DMU MultiAttribute Model Consumer Satisfaction Customer Pro le 0 Symbolic meaning of goods amp services 0 Consumer Decision Making How do they decide what to buy 0 In uences on DMP Psychological l motivational personality learning values beliefs amp attitudes Sociocultural personal in uence reference groups family in uence social class culture Situational l purchase task social surroundings physical surroundings temporal effects antecedent states Marketing Mix 4 P s Basic DecisionMaking Concepts 0 Goal Directed Bounded Rationality Low involvementunimportant Selective in in info We pay attention Adaptive if don t like after a try don t buy again 00000 0000
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