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  • Marketing Management

    MM

    Welcome to Marketing Management – Module BM4403.

     

    This module, BM4403 presents the knowledge and understanding about the importance of marketing management in companies.  It imparts the concepts and principles involved in marketing of the company’s products and services and enabling the company to gain competitive position in the market.

    The marketing function plays an important role in the sense that it is in contact with the external environment and acquires the necessary information for the development and improvement of the company’s operations and processes in order to attain the stability with the environment.  It is the only function that brings in the financial returns to the company for the continuous operations of the other functions to provide the support to the marketing function.

    I truly hope that, like your predecessors, you will enjoy the module and find that our ‘discussions’ enhance your understanding of the marketing management process.


◄TOPIC 3 - MARKETING RESEARCHTOPIC 5 - ANALYSING BUSINESS MARKETS►

TOPIC 4 - ANALYZING CONSUMER MARKETS

  • TOPIC 4 - ANALYZING CONSUMER MARKETS

    INTRODUCTION

    The earlier lesson of marketing concept presented that firms should design an effective marketing mix that satisfies consumers. Thus, they need to investigate what, where, and how consumers make purchases. With the information, firms can better predict how consumers will react to their marketing strategies.

    Firms must understand how consumers and organizations make decisions in purchasing products, as well as the roles they play in the buying decision. Firms must analyse why consumers make the purchases that they make, what factors influence their purchases, and what factors cause change in their opinion. The public can be initiators, influencers, deciders, buyers, or users. Marketing efforts should be targeted at each of these roles.


    LEARNING OUTCOMES

    Upon the completion of the lessons, students should be able to:

    1.       Explain the stimulus-response model of consumer behaviour

    2.       Describe the consumer characteristics that influence buying behaviour

    3.       Outline the psychological processes that influence consumer response to the marketing programme

    4.       Explain the consumer buying decision process


◄TOPIC 3 - MARKETING RESEARCHTOPIC 5 - ANALYSING BUSINESS MARKETS►