Marketing 101: An Introduction to Reaching Your Target Market
Consumer Behavior
Staley’s Accounting Service Firm
April 2013 Grow Your Business Seminar
Sociocultural influences
- Reference groups
- Family
- Social class
- Culture
- Subculture
Marketing mix influences
- Product
- Price
- Place
- Promotion
Situational influences
- Type of purchase
- Social surroundings
- Physical surroundings
- Previous experience
Psychological influences
- Perception
- Attitudes
- Learning
- Motivation
Decision-making process
- Problem recognition
- Info search
- Alternative evaluation
- Purchase decision or no purchase
- Post purchase evaluation
The 5 Factors of the Marketing Environment
Sociocultural
- Population shifts
- Values
- Attitudes
- Trends
Competitive
- Speed
- Service
- Price
- Selection
Technological
Price
Product
- Computers
- Telecommunications
- Bar codes
- Data interchange
- Internet changes
Consumer
Promotion
Place
Economic
Global
- GDP
- Disposable income
- Competition
- Unemployment
- Trade agreements
- Competition
- Trends
- Opportunities
- Internet
Recent Business Philosophies in Marketing
CRM
Marketing concept
- Customer orientation
- Service orientation
- Profit orientation
Customer Relationship Management
Market Segmentation
The process of learning as much as possible about customers and doing everything you can to satisfy them--or even exceed their expectations--with goods and services over time.
The Marketing Process
(Marketing Mix)
Product
- Find opportunities
- Conduct research
- Identify target market
- Design product to meet need based on research
- Do product testing
- Determine brand name, design package, and set price
- Select a distribution system
- Design a promotional program
- Build relationship with customers
Price
Place
Promotion
Consumer
B2B
Common Data Collection Methods for Marketing Research
Reaching Smaller Market Segments
- Niche marketing
- One-to-one marketing
- Mass marketing
- Relationship marketing
Breakdown
- Geographic
- Demographic
- Psychographic
- Benefit
- Volume