MKT 3020- Final Exam Guide - Comprehensive Notes for the exam ( 84 pages long!)
28 Mar 2018
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Document Summary
The set of value seeking activities that take place as people go about addressing realized needs. Consumer behavior as a field of study (influences): anthropology cultural context, immersing yourself, psychology how we think about things, social psychology what influences others have (family, friends, economics economy psychology; anomalies in decision making. Process by which goods, services or ideas are used & transformed into value. It"s (cid:272)reated at the poi(cid:374)t of consumption, drives the repeat purchase. Need want exchange costs & benefits reaction value . Value is different for each person & it depends on the environment. The customer is not always king but they are v important; depends where you are. The a(cid:374)s(cid:449)ers to these (cid:373)ake (cid:272)o(cid:374)su(cid:373)er as (cid:862)ki(cid:374)g(cid:863) (cid:373)ore i(cid:373)porta(cid:374)t. Customer orientation- puts customer value & satisfaction first. Market orientation- organizational culture that emphasizes customer orientation. Relationship marketing- repeat business is key for success (make customers happy)
