MEANS-END THEORY. INTRODUCTION PRODUCT RELATED KNOWLEDGE KINDS OF ATTRIBUTES RELATIONSHIP BETWEEN ATTRIBUTES CONSEQUENCES-BENEFITS PERSONAL VALUES IMPORTANCE TO CONSUMER IMPORTANCE TO MARKETER. BASIC MEANS- END MODEL INTRODUCTION CONTD.
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PRODUCT RELATED KNOWLEDGE
KINDS OF ATTRIBUTES
RELATIONSHIP BETWEEN ATTRIBUTES
IMPORTANCE TO CONSUMER
IMPORTANCE TO MARKETER
Means end theory is a theory about customer behavior
This theory emphasizes how personal values influence individual behavior
Personal values are defined as “ motivating, end states of existence” which individuals strive for
The means-end approach can help marketing managers understand how and why consumers make purchase decisions and then use this understanding of customer motivation to guide their thinking about marketing strategy (FOCUS ON CUSTOMER)
Means-end approach can be used to segment a market. Customers who possess various Means-Ends orientations would respond differently to market offerings. So they can be treated as different market segments
They are then made to identify the personal value they get from the product attribute
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