Transcript Document
MT 219 Marketing Unit Three Global Marketing and Consumer Behavior Note: This seminar will be recorded by the instructor. Review of Unit Two • How did it go? Questions or concerns? • Instructor suggestions for Unit 3 • Questions In this unit we will cover • Global Marketing -International environmental forces -Trade Alliances, markets and agreements • Consumer Behavior-Involvement levels and their impact on problem solving -The consumer buying decision process -Situational, psychological and social influences International Marketing Defined in text as: “Developing and performing marketing activities across national boundaries.” Increasingly, international marketing is a way firms can ensure marketing success when domestic markets have been saturated. International Environmental Forces • All aspects of the marketing mix must often be changed to be successful in international markets. - Sociocultural- extremely important – products that are socially or culturally inappropriate are unlikely to be successful. - Economic- Marketers must keep price in line with competition and, consumer expectations and ability to buy. - Political – Marketers must ensure they do not undertake controversial activities that will result in political fallout. This include relations with labor unions - Legal- Marketers must ensure they conform to the requirements of the countries they do business in. - Competitive- The company needs to undertake competitive activities that are considered suitable in international markets. Laws vary. - Technological- Marketers should not assume their technology is compatible with people’s or country’s needs. Consumer Behavior The buying behavior of people who purchase products for personal or household use and not for business purposes We study consumer behavior in order to -understand the major influences on what, where, when and how consumers buy -be in a better position to develop marketing strategies High Involvement vs. low involvement Intensity Importance Risk assessment Enduring vs. Situational involvement Types of buying behavior • Routinized response behavior frequently purchased, familiar, lost cost items • Limited Problem Solving behavior unfamiliar brand in familiar category • Extended Problem Solving unfamiliar, expensive or infrequently purchased items Consumer Decision Process Problem Recognition Information Search Internal External Evaluation of Alternatives consideration set evaluative criteria Purchase Post Purchase Evaluation Cognitive Dissonance Situational Influences • • • • • • Physical surroundings Social surroundings Time perspective Reason for purchase Buyers momentary mood and condition The reason stores try to create a certain ambiance Plus – concern for the opinion of others Psychological influences - Perception • Selective Exposure • Selective Distortion • Selective Retention Learning • Change in behavior resulting from experience and information • Begins with - Need - Cue- can be turned on by any sense - Response - Reinforcement - Generalization Attitudes • Have Direction and Intensity • Hard to Change, but do-able • A belief linked to an emotion Personality and Self-Concept • Results in consistent patterns of behavior • Includes purchase behavior • Many times these may be subconscious Lifestyle • Activities • Interests • Opinions Social Influences • Roles • Socialization and Family • Reference Groups membership aspiration dissasociative Opinion Leaders Social Classes • Open groups of individuals with similar social rank - Education, Occupation, and Income - Upper - Middle - Working - Lower Culture • Single broadest determinant of consumer behavior • Accumulation of values, knowledge, beliefs, customs, objects, and concepts that characterizes a society Subcultures • Groups of individuals whose values and behavior patterns are similar • Can be based on a number of factors, including - Geography - Demographic characteristics - Common experiences and history Any Questions? Thank you for attending! See you next week! Instructor will post the link to the recording of tonight’s seminar in the course Announcements.