MARK2051 Chapter Notes - Chapter 1: Consumer Behaviour, Systematic Review, Marketing Mix
Document Summary
Marketing strategy: combination of product, price, distribution and promotion most suited to a particular group of consumers. Consumer behaviour: discipline dealing with how and why consumers purchase (or don"t) g&s. Customer value: difference between all benefits derived from total product and all costs of acquiring those benefits: cb specific to personal, product and consumption/situation. Aspects of marketing strategy: market segmentation: developing specific marketing programs targeted at consumer groups with unique needs and/or purchasing processes, positioning strategy: way product/brand compares to its competitors as perceived by consumers. Brand can learn: which attributes are critical, where it stands in comparison to competitors, degree to which different segments have same perception. Global marketing: form of international marketing that aims to target particular consumer segments, regardless of where they are located in world, using standardised marketing mix. Marketing mix: combination of product, price, distribution and promotion. Consumer behaviour audit: systematic review of all important aspects of cb.
