Examine the factors inherent in consumer buyer behaviour which marketing managers should consider in the marketing of consumer goods?
2003. Examine the factors inherent in consumer buyer behaviour which marketing managers should consider in the marketing of consumer goods? General speaking, there are two sorts of questions, one is talking about the factors influencing on the consumer behaviour, another emphasizes on the reasons and the ways of adoption consumer-oriented strategies for marketing managers. Therefore, I am going to interpret both of questions together first, then discuss with you all on Monday's meeting. Honestly, I'm not sure how to answer each question using the preparation below. Definition Consumer buyer behaviour refers to the buying behaviour of final consumers - individuals and households who buy goods and services for personal consumption. It equals the decision process and acts of individuals involved in buying and using products. The important of understanding From the viewpoint of marketing philosophy, understanding consumer behaviour is good business. A basic marketing concept states that firm exits to satisfy consumers' needs. One of the definition of marketing is about understanding the needs of customer, anticipating what they require, and offering them the correct marketing mix in a way that is different to competitors' marketing strategies and programmes. Thus, under the marketing philosophy, customers are consulted at every stage of the process, the marketing mix being
Advertising in newspapers and magazines
Advertising in newspapers FLE's objective is to increase visitor numbers, so advertising in newspapers might be a good was to help achieve this FLE could consider advertising in magazines. There a number of advantages to advertising in newspapers, for example the advert might be publish is somewhat flexible in terms of size and colour; if they want a large advert this is doable in a newspaper spread rather than a small magazine, also, if they want a black and white picture, it will be more acceptable in a newspaper rather than a magazine. Also, it might be cheaper as the paper they use in newspapers is inexpensive compared to the glossy paper used in magazines. Newspapers have a wider circulation than magazines also, more people read newspapers than they do magazines; this is good for FLE and could lead to an increase of visitor numbers as more people would be exposed to FLE's advert. For example, 3,128,501copies of The Sun are bought daily. However, about 7,986,000 read the newspaper daily; this is because more than one person can read the one newspaper. Advertising in newspapers is quick; this is because they tend to be released daily. If one day, FLE see a promotion advert from their competition in a newspaper they are able to respond quickly with an advert of their own. Newspapers are also targeted, for example, The Sun is targeted at men and therefore had more male
I have been asked by the marketing director to research the market regarding internet cafes here in the UAE.
Action Plan I have been asked by the marketing director to research the market regarding internet cafes here in the UAE. It is my duty to produce a feasible report with evidence to show that Surf N' Slurp, if opened, will be a success. By writing this action plan I will be able to decide: * What I have to do * What information needs to be collected * How or where I am going to get this information * And finally what alternative strategies I will need to use to find the information I need. By the end of this report there will be numerous tasks, which have been covered in depth. Starting with an introduction consisting of a number of definitions, the main jobs of a marketing manager, the two main types of research and there advantages and disadvantages, the reasons for doing market research and to end the introduction I will include all my sources of information such as the books I have quoted or researched from, the authors, the websites, the magazines etc. Next comes my objectives which will include a paragraph on how my objectives will influence the rest of the business, what constraints are there on this business and what methods or resources are available to help this business carry out its plans. I will then move on to finding out the customer needs because without this information Surf N' Slurp will surely fail. My objective will consist of a definition of
For P1 I will need to present my initial business idea looking at the business ownership the location and the actual business I want to set up. And I will explain what I will sell, my aims and objectives.
Unit 10: Starting a Small Business P1_____________________________________________________ For P1 I will need to present my initial business idea looking at the business ownership the location and the actual business I want to set up. And I will explain what I will sell, my aims and objectives. Also, I will mention my target market, and describe the reasons as to why I have chosen my location. I will purchase an existing business, because I think it is easier to be successful than if I start a new business from scratch, and I can also add some my ideas in the business, so it is better than purchasing a franchise. As this is an existing business, it will already have some customers, that means many people know about this business, and it might be established, so it does not have as greater risk. Also, I can make this business more special, make more customers like this business, but if I purchase franchise, I can not do it. That is why I have chosen to develop my business in this way. I have come to the decision of becoming a sole trader through background research of business ownerships. I will set up a jewellery shop, and I think my business will be a success. I will sell jewelleries, such as ear rings, rings and so on. I will design many new special types of jewellery with another designer who I pay for, and I will design many types of jewellery which have different
Marketing financial services
MARKETING FINANCIAL SERVICES EC32037 BY CHRIS GREEN CONTENTS INTRODUCTION SECTION 1: Identify and review some of the strategies that the company uses to deal with the difficulties presented by the specific features of financial services marketing. SECTION 2: What market segmentation approaches does the company use and how effective do you think these are? SECTION 3: In what ways do the forces within the Macro OR the Micro marketing environment affect the company's ability to market its products successfully? SECTION 4: Select 2 components of the marketing mix and review the ways in which the company addresses these and incorporates them into its marketing approach. REFERENCES Note: I will be using the Bank of Scotland for examples in each section. INTRODUCTION The financial services sector is one of the most competitive markets in the UK. There are now many companies (providers) offering many similar products. This makes it difficult for the providers to distinguish their organisation and their products from the competition. If this is not done successfully then they will not attract and retain customers thus not generate profits. This also makes the market confusing from a consumer point of view. This is a big challenge for the providers to overcome. Firstly what do we mean when we mention financial services? "The meaning of the term financial services, as
Global Wine Wars: New World Challenges Old
Global Wine Wars: New World Challenges Old With the emergence of New World players in the global wine industry many of the Old World players have been losing market share. At first France, Italy, Spain, and Germany simply laughed at the wine-making techniques of the new players - U.S, South America, South Africa, Australia, and New Zealand. However, it quickly became apparent that the newcomers pose a serious threat to the traditional winemakers. The French were especially hurt when they began to lose their global market share as well as the coveted U.K. market to the Australians. The main issue in this case is the following question: How can France regain and increase its market share in the global wine industry? Analysis The following are the major problems of the French winemakers: . Strict AOC regulations One of the advantages that the New World competitors have over France is their innovative culture. France's hundreds of years of tradition are matched by the Australians ability to experiment with different techniques, packaging, and marketing strategies. Their technological and innovative approach allows the New World competitors to meet their consumers' needs and tastes better while the French are stuck with the AOC regulations. The AOC regulations are really only applicable to "fine wine" that has minimal value market share according to Exhibit 4. With
Need section
NEED: Design situation Target market groups User's needs Ways of gathering information Reasons for choice of design situation The reasons I chose this design situation are: * I thought I'd find creating sweet canapés interesting as I enjoy helping my mum make savoury canapés and we rarely make sweet canapés as we don't have time. * From my research I know that there's a gap in the market for sweet canapés. * Making canapés can be completed during a one hour practical lesson and enable me to complete my coursework to a high standard in the given time. * I need a wide range of tools and equipment to make sweet canapés but all the equipment that I need is available at school, at home, or in local cook shops. * I need luxury ingredients for my canapés; all the ingredients I need are available locally in supermarkets and cook shops. * Sweet canapés will challenge the cooking skills I already know and develop my knowledge and understanding and also teach me new skills. * The ingredients and materials that I need to make my sweet canapés are affordable to me for my task, as they are available to me. * I know that there will be lots of information on canapés accessible to me because there are many cook books and magazines with sweet canapé recipes in them. * I know a lot of people that consume canapés that will be able to help me with my research
What is 'The Marketing Concept' and how has it developed over time? The marketing concept is a philosophy. The philosophy is that company's need to find out the needs and wants of their customers
What is 'The Marketing Concept' and how has it developed over time? The marketing concept is a philosophy. The philosophy is that company's need to find out the needs and wants of their customers before they make any decisions on what they are going to produce. Also to make sure that the satisfaction of a customer is met at all times. What they produce needs to satisfy the customers needs and wants better than their competitions. One of the ways to do this is to carry out research and ask the actual customer exactly what their wants and needs are. Nowadays most companies have adopted the marketing concept, but this hasn't always been the way. Marketing has developed and changed so much over the years, back in 1776, Adam Smith wrote that the needs of producers should be considered only with the regard to meeting the needs of consumers*. This philosophy is consistent with the marketing concept but it was not adopted widely until about 200 years later. The philosophy in the early 1920's, the time of the Industrial Revolution, was called the 'production concept'. This worked by companies only producing products that they could produce most efficiently. Companies then thought that by producing products, and lots of them, that were cheap that the product would then sell itself and therefore create a further demand for it all by itself. The production concept only had two
At the time when the economy was developing apace and the significant
At the time when the economy was developing apace and the significant change on economic structure was progressing, the importance of service industry in economic system has been increasing steadily so to become one of principal drivers for most countries' economy development, e.g. In the United States, 78% of the GDP is attributed by service industry1. Due to such kind of tendency, the interrelated studies of service bearing high research value were developed, which crown multiple subject areas. Service Marketing, one of those areas, was not really dealt with until the 1970's either in Europe or the USA. Since that time it has grown considerably and has received much attention from various authors. Service marketing is the recognition that contacts between service providers and their customers is the basis of a process of building relationships, and the term service management is used in order to recognize the management of this relationship process. This project will focus on how to manage the service encounter to create customer's satisfactory experience, which is a prevalent topic of this research area. Service differentiates product by its four characteristics that are frequently expatiated in marketing literatures, i.e. intangibility, inseparability, heterogeneity, perish-ability. Zeithaml and Bitner (2002) also generalized service as deeds, process, and performance.
Business Studies Marketing Strategies
. WHAT IS MARKETING? Marketing includes identifying unmet needs; producing products and services to meet those needs: and pricing, distribution, and promoting those products and services to produce a profit. The process of identifying and researching specific segments of a population for the purposes of selling them a product or a service. The importance of marketing to a business cannot be over - emphasised. Marketing is the engine that drives any business. There is no point having goods for sale if they are not wanted by the customers or if the customers do not know that what you are trying to sell even exists. Marketing means finding out what the customers want, what the customers require. Providing it and making sure, usually by advertising, that the customers know it is there. Marketing activities include: * Carrying out market research to find out the needs and requirements of the customers, * Developing products to meet these needs and wants, * Finding out what customers are likely to purchase the products, * Deciding upon a suitable place for where the products should be sold, * Working out what price should be charged, * Advertising and promoting the products so that customers are aware of them and persuaded to buy them. It is extremely important that a business considers each of these points before it launches a product onto the market otherwise it may find
