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Introduction: The Impact of the Digital Revolution on Consumer Behavior. Opening Vignette. Objectives of One-to-One Marketing. To attain customers Sell them more products Make a profit. Digital Revolution in the Marketplace.

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objectives of one to one marketing
Objectives of One-to-One Marketing
  • To attain customers
  • Sell them more products
  • Make a profit
digital revolution in the marketplace
Digital Revolution in the Marketplace
  • Allows customization of products, services, and promotional messages like never before
  • Enhances relationships with customers more effectively and efficiently
changes in the business environment
Increased consumer power

Access to information

More products and services

Interactive and instant exchanges

Access to customer patterns and preferences

Evolution to other -Web connection

PDAs

HDTV

Mobile phones

Changes in the Business Environment
consumer behavior
Consumer Behavior

The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.

personal consumer
Personal Consumer

The individual who buys goods and services for his or her own use, for household use, for the use of a family member, or for a friend.

organizational consumer
Organizational Consumer

A business, government agency, or other institution (profit or nonprofit) that buys the goods, services, and/or equipment necessary for the organization to function.

development of the marketing concept
Development of the Marketing Concept

Production

Concept

Product Concept

Selling Concept

Marketing

Concept

the production concept
The Production Concept
  • Assumes that consumers are interested primarily in product availability at low prices
  • Marketing objectives:
    • Cheap, efficient production
    • Intensive distribution
    • Market expansion
the product concept
The Product Concept
  • Assumes that consumers will buy the product that offers them the highest quality, the best performance, and the most features
  • Marketing objectives:
    • Quality improvement
    • Addition of features
  • Tendency toward Marketing Myopia
the selling concept
The Selling Concept
  • Assumes that consumers are unlikely to buy a product unless they are aggressively persuaded to do so
  • Marketing objectives:
    • Sell, sell, sell
  • Lack of concern for customer needs and satisfaction
the marketing concept
The Marketing Concept
  • Assumes that to be successful, a company must determine the needs and wants of specific target markets and deliver the desired satisfactions better than the competition
  • Marketing objectives:
    • Profits through customer satisfaction
business leaders who understood consumer behavior
Business Leaders Who Understood Consumer Behavior
  • Alfred Sloan, General Motors
  • Colonel Sanders, KFC
  • Ray Kroc, McDonald’s
the marketing concept1
The Marketing Concept

A consumer-oriented philosophy that suggests that satisfaction of consumer needs provides the focus for product development and marketing strategy to enable the firm to meet its own organizational goals.

implementing the marketing concept
Implementing the Marketing Concept
  • Consumer Research
  • Segmentation
  • Targeting
  • Positioning
consumer research
Consumer Research
  • The process and tools used to study consumer behavior.
  • Two perspectives:
    • Positivist approach
    • Interpretivist approach
segmentation targeting and positioning
Segmentation, Targeting, and Positioning
  • Segmentation: process of dividing the market into subsets of consumers with common needs or characteristics
  • Targeting: selecting one ore more of the segments to pursue
  • Positioning: developing a distinct image for the product in the mind of the consumer
successful positioning
Communicating the benefits of the product, rather than its features

Communicating a Unique Selling Proposition for the product

Successful Positioning
the marketing mix
The Marketing Mix
  • Product
  • Price
  • Place
  • Promotion
successful relationships
Successful Relationships

Customer

Value

Customer

Retention

Customer

Satisfaction

types of customers
Loyalists

Apostles

Defectors

Terrorists

Hostages

Mercenaries

Types of Customers
customer profitability focused marketing
Customer Profitability-Focused Marketing

Tier 1: Platinum

Tier 2: Gold

Tier 3: Iron

Tier 4: Lead

societal marketing concept
Societal Marketing Concept

A revision of the traditional marketing concept that suggests that marketers adhere to principles of social responsibility in the marketing of their goods and services; that is, they must endeavor to satisfy the needs and wants of their target markets in ways that preserve and enhance the well-being of consumers and society as a whole.

the societal marketing concept
The Societal Marketing Concept
  • All companies prosper when society prospers.
  • Companies, as well as individuals, would be better off if social responsibility was an integral component of every marketing decision.
  • Requires all marketers adhere to principles of social responsibility.
slide27

Firm’s Marketing Efforts

1. Product

2. Promotion

3. Price

4. Channels of distribution

Sociocultural Environment

1. Family

2. Informal sources

3. Other noncommercial sources

4. Social class

5. Subculture and culture

Input

External Influence

Need Recognition

Prepurchase Search

Evaluation of Alternatives

Psychological Field

1. Motivation

2. Perception

3. Learning

4. Personality

5. Attitudes

Process

Consumer Decision Making

Experience

Figure 1-1:

A Model of Consumer Decision Making

Purchase

1. Trial

2. Repeat purchase

Post-Decision

Behavior

Output

Postpurchase Evaluation