BA 101 Lecture Notes - Lecture 3: Psychographic, Marketing Mix

• School: University of Oregon
• Department: Charles H. Lundquist College of Business
• Course: BA 101
• Professor: Steve Engel

Document Summary

Focus- who are our customers and what do they want. The marketing mix- unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market. The four p"s: product, price, promotion, distribution -- to fit customer needs. The process of planning, collecting, and analyzing data relevant to a marketing decision. Different people are in different target markets and need different marketing research. Primary data: information collected for the first time. Can be used for solving the particular problem under investigation. Observational research: people watching people, people watching an activity, machines watching people. Secondary data: data previously collected for any purpose other than the one at hand. Advantage: quick and inexpensive to get, disadvantage: not tailored to your company and not always relevant. Psychographics- people"s attitudes, lifestyles and beliefs (differences between people. Benefits sought- what do they want from the product (quality of product vs price of.