BU121 Chapter Notes - Chapter 3: Cognitive Dissonance, Cash Register, Green Marketing
Document Summary
Creating a marketing strategy: understanding the external environment, defining the target market, creating a competitive advantage, and developing a marketing mix. Defining the target market: target market: specific group of consumers toward which a company directs its marketing efforts. Identifying a target market helps a company focus its marketing efforts on those who are most likely to buy its products and services. Buyer behavior: buyer behavior: actions people take in buying and using goods and services. Types of buying decisions: consumer buying decisions fall under the categories of: routine response behavior, limited decision making, and extensive decision making. Business customer buy in large quantities than consumers: number of customers. Business markets usually have far fewer customers than consumer markets: location of buyers. Business customers tend to be much more geographically concentrated than consumers: direct distribution. Crest toothpaste and how it is subdivided; crest whitening with.
