2. Marketing Mix
โข The blending of 4 marketing elements-
product, distribution, price, and promotion
3. Marketing Mix, apple
โข Apple usually introduces a new iPod around
Christmas
โข They distribute many iPods to each location
โข They lower the price of old iPods and raise the
price of new ones
โข They have commercials for each iPod
4. Target Market
โข Chevy Volt: people who are buying cars and
are energy efficient
โข Generic Products: people who donโt have a
lot of money
โข Sailboat Vacation: people who have a lot of
money
5. Decision Making process
1. Recognize a need
2. Gather information
3. Select and evaluate alternatives
4. Make a purchase decision
5. Determine the effectiveness of the decision
6. Decision making process, house
โข Need: my house is too small for my growing
family
โข My house needs to be in a certain price range
because that is what I can pay
โข There are many houses but I think that the
one that has enough space and is cheap
enough for me to buy
โข I bought the cheapest good sized house
โข I chose the right house
7. Buying motives
โข Emotional: buying because someone else is
buying it or everyone else has one
โข Rational: the most economical buy for your
family and yourself
8. Rational vs. emotional buying
โข Rational
โ Buying a generic brand mp3 player because it is
cheaper
โ Buying the more economical car even though its
not as cool
โข Emotional
โ Buying an IPod instead of another brand because
they are more popular
โ Buying the coolest car because everyone will like it