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Marketing Management Session 11
 

Marketing Management Session 11

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Marketing Management Session 11 Marketing Management Session 11 Presentation Transcript

  • Analyzing Consumer Markets
  • What Influences Consumer Behavior?
    • Cultural factors
    • Social factors
    • Personal factors
  • Culture The fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions.
  • Subcultures
    • Nationalities
    • Religions
    • Racial groups
    • Geographic regions
    • Special interests
  • Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers
  • Characteristics of Social Classes
    • Within a class, people tend to behave alike.
    • Social class conveys perceptions of inferior or superior position.
    • Class may be indicated by a cluster of variables (occupation, income, wealth).
    • Class designation is mobile over time.
  • Social Factors Reference groups Social roles Statuses Family
  • Reference Groups
    • Membership
    • Primary
    • Secondary
    • Aspirational
    • Dissociative
  • Family
    • Family of Orientation
      • Religion
      • Politics
      • Economics
    • Family of Procreation
      • Everyday buying behavior
  • Personal Factors
    • Age
    • Life cycle stage
    • Occupation
    • Wealth
    • Personality
    • Values
    • Lifestyle
    • Self-concept
  • Brand Personality
    • Sincerity
    • Excitement
    • Competence
    • Sophistication
    • Ruggedness
  • Key Psychological Processes
    • Motivation
    • Perception
    • Learning
    • Memory
  • Motivation
    • Freud’s theory
    • Maslow’s hierarchy of needs
    • Herzberg’s two-factor theory
  • Perception
    • Selective attention
    • Selective retention
    • Selective distortion
    • Subliminal perception
  • Consumer Buying Process
    • Problem recognition
    • Information search
    • Evaluation
    • Purchase decision
    • Postpurchase behavior
  • Sources of Information
    • Personal
    • Commercial
    • Public
    • Experiential
  • Organizational Buying Decision-making process by which formal organizations establish the need for purchased products and services, and identify evaluate, and choose among alternative brands and suppliers.
  • Characteristics of Business Markets
    • Fewer, larger buyers
    • Close supplier-customer relationships
    • Professional purchasing
    • Many buying influences
    • Multiple sales calls
    • Derived demand
    • Inelastic demand
    • Fluctuating demand
    • Geographically concentrated buyers
    • Direct purchasing
  • Buying Situation
    • Straight rebuy
    • Modified rebuy
    • New task
  • The Buying Center
    • Initiators
    • Users
    • Influencers
    • Deciders
    • Approvers
    • Buyers
    • Gatekeepers
  • Of Concern to Business Marketers
    • Who are the major decision participants?
    • What decisions do they influence?
    • What is their level of influence?
    • What evaluation criteria do they use?
  • Types of Business Customers
    • Price-oriented
    • Solution-oriented
    • Gold-standard
    • Strategic-value
  • Handling Price-Oriented Customers
    • Limit quantity purchased
    • Allow no refunds
    • Make no adjustments
    • Provide no services
  • Purchasing Orientations
    • Buying
    • Procurement
    • Supply chain management
  • Product-Related Purchasing Processes
    • Routine products
    • Leverage products
    • Strategic products
    • Bottleneck products
  • Methods of e-Procurement
    • Websites organized using vertical hubs
    • Websites organized using functional hubs
    • Direct extranet links to major suppliers
    • Buying alliances
    • Company buying sites
  • Forms of Electronic Marketplaces
    • Catalog sites
    • Vertical markets
    • Pure play auction sites
    • Spot markets
    • Private exchanges
    • Barter markets
    • Buying alliances
  • Assessing Customer Value
    • Internal engineering assessment
    • Field value-in-use assessment
    • Focus-group value assessment
    • Direct survey questions
    • Conjoint analysis
    • Benchmarks
    • Compositional approach
    • Importance ratings
  • Order Routine Specification and Inventory
    • Stockless purchase plans
    • Vendor-managed inventory
    • Continuous replenishment
  • Desirable Outcomes of a B2B transaction: OTIFNE
    • On time
    • In full
    • No error
  • Establishing Corporate Credibility
    • Expertise
    • Trustworthiness
    • Likeability
  • Factors Affecting Buyer-Supplier Relationships
    • Availability of alternatives
    • Importance of supply
    • Complexity of supply
    • Supply market dynamism
  • Categories of Buyer-Seller Relationships
    • Basic buying and selling
    • Bare bones
    • Contractual transaction
    • Customer supply
    • Cooperative systems
    • Collaborative
    • Mutually adaptive
    • Customer is king
  • Opportunism Some form of cheating or undersupply relative to an implicit or explicit contract.
  • Analyzing Business Markets
  • CISCO Targets Businesses
  • What is Organizational Buying?
    • Organizational buying refers to the decision-making process by which formal organizations establish the need for purchased products and services, and identify, evaluate, and choose among alternative brands and suppliers.
  • Top Business Marketing Challenges
    • Expand understanding of customer needs
    • Compete globally as China and India reshape markets
    • Master analytical tools and improve quantitative skills
    • Reinstate innovation as an engine of growth
    • Create new organizational models and linkages
  • Characteristics of Business Markets
    • Fewer, larger buyers
    • Close supplier-customer relationships
    • Professional purchasing
    • Many buying influences
    • Multiple sales calls
    • Derived demand
    • Inelastic demand
    • Fluctuating demand
    • Geographically concentrated buyers
    • Direct purchasing
  • Buying Situation Straight rebuy Modified rebuy New task
  • Systems Buying and Selling Turnkey solution desired; bids solicited Prime contractors Second-tier contractors System subcomponents assembled
  • The Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeepers
  • Of Concern to Business Marketers
    • Who are the major decision participants?
    • What decisions do they influence?
    • What is their level of influence?
    • What evaluation criteria do they use?
  • Sales Strategies Small Sellers Large Sellers Key Buying Influencers Multilevel In-depth Selling
  • Stages in the Buying Process: Buyphases
    • Problem recognition
    • General need description
    • Product specification
    • Supplier search
    • Proposal solicitation
    • Supplier selection
    • Order-routine specification
    • Performance review
  • Forms of Electronic Marketplaces
  • Methods of e-Procurement
    • Websites organized using vertical hubs
    • Websites organized using functional hubs
    • Direct extranet links to major suppliers
    • Buying alliances
    • Company buying sites
  • Handling Price-Oriented Customers Limit quantity purchased Allow no refunds Make no adjustments Provide no services
  • Methods for Researching Customer Value
    • Internal engineering assessment
    • Field value-in-use assessment
    • Focus-group value assessment
    • Direct survey questions
    • Conjoint analysis
    • Benchmarks
    • Compositional approach
    • Importance ratings
  • Order Routine Specification Stockless purchase plans Vendor-managed inventory Continuous replenishment
  • Establishing Corporate Trust and Credibility Expertise Likeability Trustworthiness
  • Factors Affecting Buyer-Supplier Relationships Availability of alternatives Supply market dynamism Complexity of supply Importance of supply
  • Categories of Buyer-Seller Relationships
    • Basic buying and selling
    • Bare bones
    • Contractual transaction
    • Customer supply
    • Cooperative systems
    • Collaborative
    • Mutually adaptive
    • Customer is king
  • What is Opportunism?
    • Opportunism is some form of cheating or undersupply relative to an implicit or explicit contract.
  • Marketing of Farm Output from Rural Areas
    • Contract Farming – Pepsi
    • Procuring from Cooperatives – Amul
    • Use ICT for procurement – ITC