Chapter 1 - Role of the Marketing Function and Analysis of the Consumer Behaviour
Chapter 1 - Role of the Marketing Function and Analysis of the Consumer Behaviour B216
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This 6 page Class Notes was uploaded by KUMIKO Notetaker on Saturday September 12, 2015. The Class Notes belongs to B216 at Republic Polytechnic taught by Gerrard Ong in Summer 2015. Since its upload, it has received 33 views. For similar materials see Marketing in Social Science at Republic Polytechnic.
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Date Created: 09/12/15
Chapter 1 Role of the Marketing Function and Analysis of the Consumer Behaviour Marketing 0 To satisfy customer needs 0 Companies create a value for customers and build strong relationship in order to capture the value from customers in return Roles 0 Select target markets 0 Create meaningful relationships with customers 0 Deliver superior customer value through the execution of marketing strategies 0 Marketing concept Market gt Customer needs gt Integrated marketing gt Pro ts through customer satisfaction 6 Key Functions 1 Design and Production 0 Labour Effort of employees 0 For examples ling lifting data processing decision making line management Cap al Machines and tools needed to produce the product or service 0 Financial capital such as loans sale of shares in the organisation and use of generated by the organisation 0 Energy 0 The use of gas electricity solar power and steam Heatlight up the premises make the machine work 0 Ensure that the organisation is a comfortable place for the employees Materials 0 Produce the product or service in their raw form For example ingredients 0 Information 0 Knowledge and expertise needed to produce the end product 2 Finance Manualelectronic records of money received and paid out Tax purposes Comply with legal requirements Enable senior managers to plan and review business strategy 0 Employee expenses and salaries 3 Human Resources 0 Recruitment selection training and development of staff Maximise staff potential Comply with legislation applicable to the country in which they are based Welfare role such as looking after employees whilst they are at work 4 Sales and Marketing 0 Marketing department 0 Research customer needs 0 Investigate the market they are aiming at the type of consumer making up the market and the preferences of the customer 0 Need to marry consumer preferences 0 Package advertise and promote the product 0 Sales department Persuading the consumer Manufactured through marketing39s research 0 Selling strategy such as mail shots travelling sales representatives telephone sales and devising the sales interview 5 Administrations Mail handling dealing with enquiriescomplaints catering and computer services Produce documents 0 Maintain the organisation39s premises and equipment 0 Holds the organisation together Resolve customer complaints Process customer orders Workforce have the tools to complete their tasks 6 Research and Development 0 Improve existing products create new and better products improve production methods and create effective processes 0 Reduce costs increase pro tability and remain ahead of the competition Allocate a speci c portion of their budget to research and development Maslow39s Hierarchy of Needs To understand human motivation management training and personal development Enable the employees to ful l their own unique potential such as self actualization Lower order needs of physical and emotional wellbeing higher order needs of in uence and personal development Level 1 to 4 are de ciency motivators Level 5 and by implication 6 to 8 are growth motivators FilmMt 3 Hierarchy of Tilemill tirigim il fiverlanai Illrriil 39l Srlls iri lm minim JimI mini aimnit ilil fulfil Ii lrfli E imam meals ill i 39l fllilt39lll fi i llfi itquot ZIljlllrilll39iilillff Iqiiilnli u Hr lmlgillgurss mfl Law levrrl li39i farm Elli film liliiI Ill39l llhilli39 WW gimp will firmly twili pi Martian ef lliil f illliii39il lair LilllllllfC draining ell Eiiriilagirz ll iaml Filigrsn nlllig tj um Lia 1 l Illfli 11ml 3m fatal flunk alfalfa Willllllllll iiiit Flaw arr Level 5 6 and 8 are adapted after the other 5 levels 0 Characteristics of 8 levels of Hierarchy Needs 1 Biological and Physiological Needs 0 Air food drink shelter warmth sex sleep etc 2 Safety Needs 0 Protection from elements security order law limits stability etc 3 Belongingness and Love Needs 0 Work group family affection relationships etc 4 Esteem Needs Selfesteem achievement mastery independence status dominance prestige managerial responsibility etc 5 Cognitive Needs 0 Knowledge meaning etc 6 Aesthetic Needs Appreciation and search for beauty balance form etc 7 SelfActualization Needs Realising personal potential selfful lment seeking personal growth and peak experiences 8 Transcendence Needs 0 Helping others to achieve selfactualization Consumer Behaviour 32C 0 Actions that consumer takes in purchasing and using the products or services 5 stages of consumer behaviour 1 Problem Recognition Perceiving a need 0 Difference between a person39s idea and actual situations 2 Information Search Seeking value 0 Internal search such as past experience 0 External search such as personal sources friends facilitator etc public sources online reviews book catalogue etc marketerdominated sources 3 Alternative Evaluation Assessing value Suggesting criteria to use for the purchase Yielding brand names that might meet the criteria Develop consumer value perception 4 Purchase Decision 0 Buying a value c From whom to buy such as terms of sale past experience buying from the seller return policy etc c When to buy such as store atmosphere time pressure a sale pleasantness of the shopping experience etc 0 Do not buy 5 PostPurchase Behaviour Value in consumption or use 0 Compare the product from their expectations Satisfaction or dissatisfaction Involvement 1 High Involvement Purchase Expensive Rislq Purchased infrequently Highly self expressive Gather information about the products 0 Evaluate the alternatives before purchase 2 Low Involvement Purchase 0 Low cost Frequently purchased 0 Do not search extensively for information 0 Do not evaluate the alternatives before purchase Business Buying Process 323 o 8 stages of business buying process 1 Problem Recognition Company recognizes a problem or need Internal stimuli such as launching a new product that requires new production equipment and materials External stimuli such as getting some new ideas at a trade show seeing an advertisement or receiving a call from a salesperson who offers a better product or a lower price 2 General Need Description Characteristics and quantity of the needed item May need to work with others Rank the importance of reliability durability price and other attributes Alert business marketer 3 Product Speci cation Item39s technical product speci cations Engineering team helps to analysis the value Decides on the best product characteristics and speci es 4 Supplier Search To nd the best vendors Compile a small list of quali ed suppliers by reviewing trade directories doing computer searches or phoning other companies for recommendations By using internet Build good reputation in the marketplace 5 Proposal Solicitation Submit proposals Some will be only a catalog or a salesperson Require detailed written proposals or formal presentations from each potential supplier Business marketers must be skilled in researching writing and presenting proposals 6 Supplier Selection Review the proposals and select a suppliersuppliers Draw up a list of the desired supplier attributes and their relative importance Attributes are important in in uencing the relationship such as quality products and services ontime delivery ethical corporate behaviour honest communication competitive prices repair and servicing capabilities technical aid and advice geographic location performance history and reputation 7 OrderRoutine Speci cation Final order with the chosen supplier such as technical speci cations quantity needed expected time of delivery return policies and warranties Blanket contracts used Long term relationship 8 Performance Review Reviews supplier performance Contact users and ask them to rate their satisfaction Lead the buyer to continue modify or drop the arrangement Differences between 323 and 32C B2B More stages 8 stages More participants More formalised contract Process duration is longer Large value for each purchase size Longer time taken for information search BZC Fewer stages 5 stages Fewer participants Less formalised Process duration is shorter Smaller value for each purchase size Shorter time taken for information search Practice Questions 1 2 3 Name one product where the consumer does not go through all 5 stages of decision process Explain why Is hand phone a high or low involvement purchase Why How does the Maslow39s Hierarchy of Needs in uence a consumer39s decision making process Illustrate your answer with an example ie if you were marketing a laptop to RP students What is the differences and similarities between the consumer buying process and the business buying process in purchasing laptops Learning Outcomes Explain the role and importance of the marketing function Explain the interrelationship between the marketing function and other functions in a company Apply motivational theory in determining Consumers39 Motivation in buying Identify and discuss the stages in the Consumer Buying Decision Process Identify the Business Buying Process and how it differs from the Consumer Buying Process Need answers Feel free to drop me an email 15043445 myrpedusg
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