Transcript 3.02.ppsx

Understand the role of
marketing in business.
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Understand buying behaviors.
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Marketing Strategy
Consumer Decision-Making Process
Major Sources of Consumer Information
Shopping Locations
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• What does a marketing strategy provide for a business?
• Vital information on how a business will meet its goals of satisfying
customers that will result in making sales and profits
• Two steps of a marketing strategy:
• Identify a target market
• A target market consists of a group of people that have similar needs
and wants.
• Create a marketing mix
• A marketing mix consist of a blending of the marketing elements
(product, price, distribution, and promotion)
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Steps in the consumer decision-making process:
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Recognize a need or want
Gather information
Select and evaluate alternatives
Make a purchase decision
Determine the effectiveness of the decision
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• Test products and services to detect benefits.
• Examples
– Underwriter Laboratories
– Association of Home Appliance Manufacturers
– Consumers Union (Independent testing organizations)
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• Provide specific information about products and services.
• Types of media sources:
• Print
Examples
• Magazines
• Newspapers
• Broadcast Organizations
Examples
• Radio
• Television
• Internet
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• Inform consumers and may handle consumer questions.
• Types
• Federal
• State
• Local
• What are some ways that government agencies
protect people?
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• Business sources are available as a public service and
to sell products and services.
• Types
• The main function of advertising is to sell.
• Product labels provide helpful information about nature of
product, how to care for product, where product was made,
and the size of the product.
• Customer Service Departments focus on assisting customers.
• Better Business Bureau (BBB) provide facts about products or
services.
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• What kinds of information has anyone obtained from
an advertisement?
• How was the information obtained from the
advertisement used?
• What product label has someone used recently?
• How was the information obtained from the product
label used?
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“Word of mouth” advertising.
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• Department Stores
• Provide broad product lines and highlight their service
• What are some examples?
• Discount Stores
• Highlight their offering of lower prices for products
• What are some examples?
• Specialty Stores
• Provide a special line of products
• What are some examples?
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• Supermarket
• Large, full service store that offer many brands of products
• What are some examples?
• Convenience Store
• Provide popular items, offer long operating hours, and are
usually located in highly accessible areas
• What are some examples?
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• Specialty Superstores
• Provide wide variety of limited products at low prices
• What are some examples?
• Superstores
• Provide a wide variety products in the retail services such as
food, bakery, auto, and electronics.
• What are some examples?
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• Warehouse Club
• Provide products in large quantities at practical prices.
• What are some examples?
• Factory Outlets
• Provide high-quality products at low prices.
• What are some examples?
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• Allows purchasing of goods and services by telephone,
computer, television, fax, or door-to-door.
• What are some examples of non-store shopping opportunities?
• Vending machines provide products through automation.
• What are some examples of vending machine shopping
opportunities?
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