RSM353H1 Study Guide - Midterm Guide: Yer, Carl Jung, Plinking
26 Nov 2012
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Market segmentation strategies: targeting a brand only to a specific group of consumers. Brands have defined images or personalities created by product advertising, packaging, branding and other marketing strategies that focus on positioning a product a certain way. If product succeeds getting a trust, it builds brand loyalty. Cb: study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires. Consumer behavior is a process: on-going process, not a momentary thing, exchange is integral part of marketing. Consumer behavior involves many different actors: consumer: person who identifies a need or desire, makes a purchase, then dispose of the product during the three stages in the consumption process. Can be individuals or organizations/groups: purchaser/user, influencer. Firms satisfy consumers" needs and marketers must understand the people/organizations to do better.
