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◄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►