The Meaning of Marketing
Marketers are bridge-builders On one side there is the company or organization
Marketers are bridge-builders On the other there are consumers
Marketers are bridge-builders The company or organization has resources Capital resources Human resources Technical resources Physical resources Consumer franchise
Marketers are bridge-builders The consumers have needs Physical Safety Affiliation Prestige Fulfillment
Marketers are bridge-builders Marketers build a bridge between the company’s resources and consumers’ needs
Marketers are bridge-builders That bridge stands on four pillars
Marketers are bridge-builders Name the pillars on which the bridge stands
Marketers are bridge-builders Name the pillars on which the bridge stands ProductPricePlacePromotion
Marketers’ two major decisions How to construct the pillars? Product Place Pricing Promotion Orchestration of the Marketing Mix
Marketers’ two major decisions To where should the bridge be built? Demographics Geographics Psychographics Market Segmentation Target Marketing
Two sources of information Consumer Behavior Principles of the behavioral and social sciences Marketing Research Primary research data Secondary research data
What is Consumer Behavior? Consumer psychology Consumer sociology Consumer anthropology Consumer (behavioral) economics
Social Science Perspectives Psychology Family formation Mating & dating Religiosity Political preferences Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior Effects of psychological makeup on:
Social Science Perspectives Sociology Family formation Mating & dating Religiosity Political preferences Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior Effects of social position and conditions on:
Social Science Perspectives Anthropology Family formation Mating & dating Religiosity Political preferences Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior Effects of culture, subculture and ethnicity on:
Social Science Perspectives Economics Family formation Mating & dating Religiosity Political preferences Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior Effects of income, wealth and earning power on:
Consumer Behavior perspectives PsychologySociology AnthropologyEconomics
Structure of the course Consumer psychology Needs Motives Perception Learning Personality
Structure of the course Consumer social psychology Communications Attitude formation Attitude change
Structure of the course Consumer sociology Reference groups Group dynamics Social class
Structure of the course Consumer anthropology Culture Subculture Ethnicity
Structure of the course Consumer economics Decision making Perceive risk Innovation diffusion Adoption process