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the business process that management uses to plan and execute the conception, pricing, promotion, and distribution of its products, whether they be goods, services, brands, or even ideas.
PURPOSE: create exchanges that satisfy the perceived needs, wants, and objectives of individuals and organizations. |
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| the product's ability to satisfy both functional needs and symbolic (or psychological) wants. |
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| any transaction in which one person or organization trades something of value with someone else. |
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| have already bought something from a business, may buy regularly |
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| about to make an exchange or considering it |
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| customers, prospective customers, or opinion leaders whose ideas and actions are respected by others |
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| a group of current customers, prospective customers, and noncustomers who share a common interest, need, or desire; who have the money to spend to satisfy needs or solve problems; and who have the authority to make expenditure decisions. |
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| people who buy goods and services for their own use |
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| organizations that buy services, natural resources, and component products that they resell, use to conduct their business, or use to manufacture another product. |
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| buy products to resell them |
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| firms that buy products used to produce other goods and services |
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| buy products for municipal, state, federal, and other government activities |
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| transnational/global markets |
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| any reseller, industrial, or government markets located in foreign countries |
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| every person or organization that has products, services, or ideas to sell |
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| the mental and emotional processes and the physical activities of people who purchase and use goods and services to satisfy particular needs and wants |
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| people who purchase products and services for use in business and government |
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| consumer decision process |
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Definition
1. problem recognition
2. information search
3. evaluation and selection
4. store choice and purchase
5. postpurchase behavior (positive or negative experience) |
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govern the way we discern raw data and translate it into feelings, thoughts, beliefs, and actions.
1. perception
2. learning and persuasion
3. motivation processes |
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| family, society, and culture |
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| time, place, and environment |
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| evaluation of alternatives |
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| during which we choose brands, styles, sizes, and colors |
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| how we behave after purchase and how we interpret our purchase experience |
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| the personalized way we sense, interpret, and comprehend various stimuli |
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| physical information that we receive through our senses |
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| subconscious filters that shield us from unwanted messages |
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are used to evaluate, filter, and personalize information according to subjective emotional standards.
personality, self-concepts, attitudes, beliefs, habits |
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| the image we have of who we are and who we want to be |
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| we focus on some things and ignore others |
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| comprehending the stimulus |
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| stored memories in our minds |
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| a relatively permanent change in thought process or behavior that occurs as a result of reinforced experience. |
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| views learning as a mental process of memory, thinking, and the rational application of knowledge to practical problems. |
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| conditioning theory / stimulus-response theory |
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| treats learning as a trial-and-error process |
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| occurs when the change in belief, attitude, or behavioral intention is caused by promotion communication (such as advertising or personal selling). |
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| elaboration likelihood model |
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| central route to persuasion & peripheral route to persuasion |
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| central route to persuasion |
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| consumers have a higher level of involvement with the product or the message, so they are motivated to pay attention to the central, product-related information, such as product attributes and benefits or demonstrations of positive functional or psychological consequences. |
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| peripheral route to persuasion |
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Definition
stimulus-response learning
people have low involvement with the product message... direct persuasion is also low
consumers form few if any brand beliefs, attitudes, or purchase intentions
however... they attend to peripheral aspects: pictures, colors, or actors.... for their entertainment value |
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| acquired mental position regarding some idea or object |
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| an individual's opennes or curiosity about a brand |
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| the acquired behavior pattern that becomes nearly or completely involuntary... the natural extension of learning |
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the consumer's conscious or unconscious decision, expressed through intention or behavior, to repurchase a brand continually.
1. breaking habits
2. acquiring habits
3. reinforcing habits |
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| basic, often instinctive, human forces that motivate us to do something |
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| are "needs" that we learn during our lifetime |
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| maslow's hierarchy of needs |
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Definition
Self-Actualization
Esteem
Social
Safety
Physiological |
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negatively originated motives
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informational motives |
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Definition
most common energizers of consumer behavior, such as problem removal or problem avoidance
consumers actively seek to reduce the mental state |
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positively originated motives
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transformational motives |
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a positive bonus is promised rather than the removal or avoidance of a problem
1. sensory gratification
2. intellectual stimulation
3. social approval
consumers expect to be transformed in a sensory, intellectual, or social sense. |
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