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by: Winfield Toy


Winfield Toy
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Class Notes
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This 3 page Class Notes was uploaded by Winfield Toy on Saturday September 12, 2015. The Class Notes belongs to MARK 4100 at University of Georgia taught by Hollenbeck in Fall. Since its upload, it has received 27 views. For similar materials see /class/202017/mark-4100-university-of-georgia in Marketing at University of Georgia.




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Date Created: 09/12/15
Chapter 1 Consumer Behavior and Marketing Strategy The Merchant of Cool 1 Consumer behavior The study of individualsgroupsorganizations and the processes they use to select secure use and dispose of prodLIctsservicesexperiences to satisfy needs and the impacts that these processes have on the consumer and society Marketing strategy How we will provide superior customer value to our target market 3 Customer value The difference between all benefits acquired from a total product and all the costs of acquiring those bene ts i Benefits Costs Social marketing The application of marketing strategies to alter behaviors that have a positive effect on the targeted individuals or society as a whole i EX Reduce smoking recycle reduce drug use safe sex 5 Market segmentation 1 Identifying product related needs set 2 Grouping customers with similar needs set 3 Describe each group 4 Select an attractive segment to serve 6 Need set Products meet more than one need at a time 7 Target market The segment of the larger market on which we will focus our marketing effort 8 Customer cost Everything the consumer must surrender in orderto receive the benefits of owningusing the product 9 Marketing mix The product price communications distributions and services provided to target market 10 Marketing communications Advertising sales force PR packaging and any other signal that the rm provides about itself or products 11Product position An image ofthe product or brand in the consumer s mind relative to competition 12 Customer satisfaction Happy customers longterm customers N 5 Chapter 2 Cross Cultural Variation in Consumer Behavior The New Means of Consumptionquot The McDonaldization of Society 13Cultura values Widely held beliefs that affirm what is desirable 14Norms Rules that specify or prohibit certain behaviors in specific situations 15Sanctions Penalties ranging from mild social disapproval to banishment from the group 160theroriented values Relationships between individuals and groups within that society i Don t market as be an individualquot 17Environmentaloriented values Society39s relationship to economic and technical as well as it physical environment 18Selforiented values Has individualistic characteristics 19nstrumental materialism The acquisition of things to enable one to do something i Skis needed to ski 20Termina materialism The acquisition of items for the sake of owning the item itself i Having art in your house 21Globa cultures Vary widely across the world 22Globa demographics Describe a population in terms of size structure and distribution Chapter 3 The Changing American Society Singing Songs of Your Brand Here Population 7 Billion How Starbucks Sells You Projective Techniques in Interviewing The Meaning of Things 23Voluntary Simplicity Consumer s efforts to reduce their reliance on consumption and material possessions 24Green Marketing Products with positive impact on environment 25Cause Related Marketing Benefit society and company at same time 26Social Marketing Application of marketing principles to advance a cause 27Sustainabiity Help farmer environment and be socially responsible 28Gender Orientation 29Enviropreneuria Marketing Environmentally friendly marketing initiated by a firm to achieve a competitive differentiation Chapter 7 Group Influence on Consumer Behavior A Holiday Loved or Loathed 30 Reference Group 31Primary Groups Family friends 32Secondary Groups Professional neighborhood associations 33Consumption Subculture Distinctive subgroup that selfselects on the basis of shared commitment to a particular product brand or consumption activity i Hiphop skydivers football fans Trekies 34Brand Community Nongeographically bound community based on a set of social relationships among owners ofa brand 350nline Community 360nline Social Network Sites 37The Nature of Reference Group Influence Informational person uses behaviors and opinions of reference group as info Normative when a person fulfills group expectations to gain direct reward buy this brand to impress Identification when a person has internalized the group39s values person has accepted groups norms as their own 38 Diffusion of innovation Chapter 20 Marketing Regulation and Consumer Behavior Food Marketing to Children and Youth


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