MGTA02H3 Chapter Notes - Chapter 15: Consumer Reports, Procter & Gamble, Data Warehouse
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MGTA02H3 Full Course Notes
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Chapter 15: understanding marketing processes and consumer behavior. Markets also promote ideas (don"t drink and drive) Marketing managers: managers responsible for planning and implementing all the marketing-mix activities that result in the transfer of goods or services to customers (marketing requires management) Marketing managers know that their product cannot appeal to everyone target marketing: any group of people who have similar wants and needs and may be expected to show interest in the same products. Market research: the systematic study of what buyers need and how best to meet those needs (improves accuracy and effectiveness of market segmentation) Market research is usually used when a new or altered product is being considered. Coke"s income is foreign, 22% for pepsi) demographic variables: characteristics of populations that may be considered in developing a segmentation of strategy (ex. People buy athletic shoes for durability, comfort and performance (hard-core loyalists buy only one brand, switchers buy various brands)
