Marketing Principles Lecture Notes 31/7/2014 Marketing Process Create value for customers and build customer relationships Capture value from customers in return 1. Understand the marketplace and customer needs and wants. 2. Design a customer driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture Value from customers to create profits and customer equality Create value for customers
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Questions &answers related to Chapter 6 Briefly explain Freud's theory on human motivation and explain how this might be related to marketing. Answer: Sigmund Freud assumed that the psychological forces shaping people's behavior are largely unconscious, and that a person cannot fully understand his or her own stated capabilities. When a person examines specific brands, he or she will react not only to their stated capabilities, but also to other, less conscious cues Within the context
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lean supply chain and business know how but also by the loyalty of its customers. The company’s strategy to approach the consumers is to study their needs and likes to be able to offer the best possible product. As the case describes, IKEA, adapts its products depending on needs and preferences of different country customers. For example, noticing that U.S. customers were buying vases to use as glasses because the average Ikea glassware wasn’t big enough, the firm developed bigger glasses for the
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Quality in Determining Consumers’ Online Repurchase Behavior Tao Zhou, Yaobin Lu and Bin Wang 2010, Information Systems Management 2012 The Relative Importance of Website Design Quality and Service Quality in Determining Consumers’ Online Repurchase Behavior Tao Zhou, Yaobin Lu and Bin Wang 2010, Information Systems Management 2012 Analysis of “The Relative Importance of Website Design Quality and Service Quality in Determining Consumers’ Online Repurchase Behavior” Buying products and services
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CONSUMER ATTITUDES TO 100% FRIUT JUICE Contents 1. Executive summary 3 2. Problem definition: 4 3. Organization of the Study: 7 4. Approach to problem (literature review): 8 5. Research design (Methodology): 11 6. Ethical issues: 13 7. Data Analysis and Results: 14 8. Conclusion and recommendations: 25 9. Appendix A: Survey 27 10. Appendix B: Statistical tests results 30 1. Executive summary A web survey was used in the UK to collect information for Tropicana
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MODELS OF ORGANIZATIONAL BUYING BEHAVIOR INTRODUCTION Organizational buying is a complex process of decision making and communication, which takes place over time, involving several organizational members and relationship with other firms and institutions. It is much more than a simple act of placing an order with the suppliers. In this sense, organizational buying behavior is the decision making process by which formal organizations establishes the need for purchased products and services and
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Introduction Graves Enterprises, a maker of consumer and commercial grade floor care products, is seeking to expand in both markets. Graves Enterprises is currently price comparable to its competitors in both markets. Its products are also distributed through the same distribution channels. The size and packaging of Graves Floor Care Products are also similar to its competitors. Its primary competitors are rented carpet steam cleaners, Kleen Floor, Spray ‘n” Vac, and Kleen Floor Spot Cleaner. The
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and self expression. * Wants – are the form human needs take as they are shaped by culture and individual personality * Wants are shaped by ones society and are described in terms of objects that will satisfy those needs. When backed by buying power, wants become
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The buyer decision process consist of five steps which will be analyse to have a better understanding of how consumers buy jewellery. The first step is the problem recognition, in this part of the process consumers realize they have a need to be fulfill and consider why they want the product (eg. For themselsves or present) and how much are they willing to expend. The price of the product is important in this industry. A research made in the US jewellery market shows that 87.2% of the purchases are
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understanding of marketing management. There are different elements of marketing process, such as marketing mix strategy, targeting strategy, market segmentation and product positioning. Market segmentation is used to identify the different segments of consumers with respect to different product lines (Kotler, 2008). Targeting strategy is used to recognize the target audience for the particular products. Product positioning is used to identify the region in which the products will compete within a market
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