MKTG1204 Chapter Notes - Chapter 5: Target Market, Conjoint Analysis, Price Level
Document Summary
Consumer process of evaluating alternatives: identify evaluative criteria, determine relative importance of criteria, determine relative value of criteria per option, choose & apply decision value, make decision. Importance of criteria: marketers need to know what criteria are crucially impt & what aren"t. Focus promotional material on criteria impt to target market. Measurement of evaluative criteria: to enable marketing manager to develop a sound strat they must determine: Which evaluative criteria are used by consumer. How the consumer perceives alternative products in terms of each criterion. Determining evaluative criteria to use: direct methods. Projective techniques: technique designed to measure feelings, attitudes & motivations that consumers may be unable / unwilling to reveal. Market characteristics: no. of alternatives, price range. Product characteristics: price level & product differentiation. Consumer characteristics: learning and experience, shopping orientation, social status, product involvement, perceived risk. Marketing strat based on info-search patterns: maintenance strat.
