1) The document discusses the consumer decision making process, which involves need recognition, information search, and evaluation of alternatives.
2) It examines factors that influence consumer behavior such as cultural, social, and personal characteristics as well as the psychological processes of motivation, perception, learning, beliefs, and attitudes.
3) The stages of the consumer decision process are outlined as need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.
Brand loyalty is a pattern of consumer behavior where consumers become committed to brands and make repeat purchases from the same brands over time. Loyal customers consistently purchase products from their preferred brands, regardless of convenience or price.
Consumers engage in information search to evaluate and make choices about products. There are different types of information search such as prepurchase search when actively looking to solve a problem and post-purchase search after a choice is made. Consumers may search internally using memory or externally using sources like personal contacts, advertising, and reviews. The level of search depends on factors like involvement, risk, and costs. Consumers evaluate alternatives using decision rules that can be compensatory, weighing all attributes, or non-compensatory, with strict cutoffs. Marketers aim to influence the search process and criteria used by consumers.
The document discusses lifestyle and consumer behavior. It defines lifestyle as a pattern of consumption reflecting how a person spends their time and money. Lifestyle is influenced by needs, wants, motivations, culture, family, reference groups, and social class. It represents a person's interests, preferences, and how they interact with their environment. Some key features of lifestyles mentioned are that they influence group behavior, quality of relationships, are flexible but centered around core interests like family and work, and determine buying behavior. The document also notes that lifestyle depends on various factors and changes in those factors can change consumer behavior.
Core values define how products are used in societies and influence acceptable market relationships and behaviors. Culture includes learned beliefs, values, customs, and responses that direct consumer behavior. Cultural characteristics are learned and shared within groups. Marketers must understand how culture affects consumer pre-purchase activities like information search and post-purchase activities like product use. Culture also influences social classes that are hierarchical groups distinguished by factors like occupation, income, education, and prestige. Understanding differences in subcultures and cross-cultural groups is important for marketers to effectively target various national markets.
Perception involves selecting, organizing, and interpreting sensory information. Sensation is the immediate response to stimuli, while perception adds interpretation. Selective perception means we notice some things more than others based on internal factors like motivation and external ones like size and motion. Gestalt principles of perceptual organization include figure/ground, grouping, closure, and good continuation. Perceptual interpretation involves applying stereotypes, judging appearances, using descriptive terms, forming first impressions, and halo effects. Positioning creates an image for a product or service in consumers' minds through communications and benefits rather than attributes. Repositioning may be needed due to competitors, lifestyle changes, or target segments.
This document provides an overview of quantitative and qualitative consumer research methods. It discusses developing research objectives, types of secondary and primary data collection. Quantitative methods covered include surveys, experiments, and observational research. Qualitative methods discussed include depth interviews, focus groups, projective techniques, and metaphor analysis. The document also addresses research validity and reliability, questionnaire design, sampling, and reporting findings. The overall content provides a comprehensive introduction to the consumer research process.
Opinion leadership is the process by which informal opinion leaders influence the product attitudes and consumption behaviors of others. Opinion leaders may seek to reduce their own doubts about purchases, gain social benefits, or due to strong involvement with products. Opinion seekers aim to get new information, reduce risks, save time, and gain approval. Opinion leadership is effective because opinion leaders are seen as credible sources of positive and negative product information and advice within their category of expertise. A person can be both an opinion receiver and later an opinion leader on a topic after gaining direct experience with a product.
1) The document discusses the consumer decision making process, which involves need recognition, information search, and evaluation of alternatives.
2) It examines factors that influence consumer behavior such as cultural, social, and personal characteristics as well as the psychological processes of motivation, perception, learning, beliefs, and attitudes.
3) The stages of the consumer decision process are outlined as need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.
Brand loyalty is a pattern of consumer behavior where consumers become committed to brands and make repeat purchases from the same brands over time. Loyal customers consistently purchase products from their preferred brands, regardless of convenience or price.
Consumers engage in information search to evaluate and make choices about products. There are different types of information search such as prepurchase search when actively looking to solve a problem and post-purchase search after a choice is made. Consumers may search internally using memory or externally using sources like personal contacts, advertising, and reviews. The level of search depends on factors like involvement, risk, and costs. Consumers evaluate alternatives using decision rules that can be compensatory, weighing all attributes, or non-compensatory, with strict cutoffs. Marketers aim to influence the search process and criteria used by consumers.
The document discusses lifestyle and consumer behavior. It defines lifestyle as a pattern of consumption reflecting how a person spends their time and money. Lifestyle is influenced by needs, wants, motivations, culture, family, reference groups, and social class. It represents a person's interests, preferences, and how they interact with their environment. Some key features of lifestyles mentioned are that they influence group behavior, quality of relationships, are flexible but centered around core interests like family and work, and determine buying behavior. The document also notes that lifestyle depends on various factors and changes in those factors can change consumer behavior.
Core values define how products are used in societies and influence acceptable market relationships and behaviors. Culture includes learned beliefs, values, customs, and responses that direct consumer behavior. Cultural characteristics are learned and shared within groups. Marketers must understand how culture affects consumer pre-purchase activities like information search and post-purchase activities like product use. Culture also influences social classes that are hierarchical groups distinguished by factors like occupation, income, education, and prestige. Understanding differences in subcultures and cross-cultural groups is important for marketers to effectively target various national markets.
Perception involves selecting, organizing, and interpreting sensory information. Sensation is the immediate response to stimuli, while perception adds interpretation. Selective perception means we notice some things more than others based on internal factors like motivation and external ones like size and motion. Gestalt principles of perceptual organization include figure/ground, grouping, closure, and good continuation. Perceptual interpretation involves applying stereotypes, judging appearances, using descriptive terms, forming first impressions, and halo effects. Positioning creates an image for a product or service in consumers' minds through communications and benefits rather than attributes. Repositioning may be needed due to competitors, lifestyle changes, or target segments.
This document provides an overview of quantitative and qualitative consumer research methods. It discusses developing research objectives, types of secondary and primary data collection. Quantitative methods covered include surveys, experiments, and observational research. Qualitative methods discussed include depth interviews, focus groups, projective techniques, and metaphor analysis. The document also addresses research validity and reliability, questionnaire design, sampling, and reporting findings. The overall content provides a comprehensive introduction to the consumer research process.
Opinion leadership is the process by which informal opinion leaders influence the product attitudes and consumption behaviors of others. Opinion leaders may seek to reduce their own doubts about purchases, gain social benefits, or due to strong involvement with products. Opinion seekers aim to get new information, reduce risks, save time, and gain approval. Opinion leadership is effective because opinion leaders are seen as credible sources of positive and negative product information and advice within their category of expertise. A person can be both an opinion receiver and later an opinion leader on a topic after gaining direct experience with a product.
This document discusses key concepts in consumer behavior including:
1. Maslow's hierarchy of needs and how marketers have oversimplified applying it to different products satisfying different needs.
2. Consumer involvement, the factors that influence it like personal, product, and situational characteristics, and different types of involvement.
3. Models of consumer behavior based on involvement like low-involvement learning and levels of message processing.
4. The effects of involvement on information processing, search, and transmission between consumers.
5. Measuring involvement through scales and its importance for marketing applications and segmentation.
This document discusses various models of consumer behavior including traditional models like the economic, learning, and psychoanalytic models as well as contemporary models like the Howard Sheth, Nicosia, Webster and Wind, and Engel, Blackwell and Minard models. It provides details on key aspects of each model such as their assumptions, variables, decision processes, and limitations. The economic model views consumers as rational decision makers seeking to maximize utility within constraints. The learning model examines how experiences shape consumer behavior. Contemporary models offer more holistic perspectives that integrate additional influences.
The document discusses consumer attitudes and how they are formed from various sources of information and experiences. It also discusses several models of attitude formation, including the tricomponent model involving cognition, affect, and conation. Marketers can influence attitude change through advertising by appealing to personality traits or resolving conflicting attitudes. Personality is shaped by both innate and learned factors and influences consumer behavior. Marketers segment consumers based on personality traits like openness to experiences and self-monitoring behavior.
The document discusses consumer attitude formation and change. It defines an attitude as a learned predisposition to behave favorably or unfavorably towards an object. There are three main components that make up attitudes: the cognitive component involving knowledge and perceptions, the affective component involving feelings, and the conative component involving the likelihood of taking action. Models of attitudes include the tricomponent model and multiattribute models examining how attitudes are formed based on evaluations of product attributes or beliefs. Strategies for changing attitudes include associating products with admired groups, resolving conflicting attitudes, and altering components of multiattribute models.
BB Chapter Seven : Post Purchase Processes, Customer Satisfaction and LoyaltyBBAdvisor
The document discusses post-purchase processes, customer satisfaction, and consumer loyalty. It covers topics like post-purchase dissonance, product use and non-use, product disposal, purchase evaluation, customer satisfaction, and repeat purchase behavior. The key aspects of each topic are explained through examples and frameworks. Customer satisfaction is influenced by expectations, perceived performance across instrumental, symbolic, and affective dimensions. Dissatisfaction can lead to actions like taking no action, switching brands, or warning others.
Perception and Marketing- Consumer BehaviorAqib Syed
A research technique that enables marketers to plot graphically consumers’ perceptions concerning product attributes of specific brands.
Perception and Marketing- Consumer Behavior
BB Chapter One: Consumer Behavior and Marketing StrategyBBAdvisor
This chapter introduces key concepts in consumer behavior and how it relates to marketing strategy. It discusses [1] why studying consumer behavior is important for developing effective marketing strategies, [2] how consumer behavior influences various aspects of marketing strategy, and [3] a model of consumer decision making that involves both internal and external influences. The chapter emphasizes that understanding consumer behavior can provide competitive advantages and help companies make better strategic marketing decisions.
This document discusses consumer self-concept and its relationship to product image and choice. It defines key terms like self-image, ideal self-image, social self-image, and ideal social self-image. Products are seen as having images determined by attributes like packaging and advertising that can be congruent or incongruent with consumers' self-concepts. Research has found relationships between self-image/product image congruity and consumer choice, though findings are debated for social and ideal social self-images. Product conspicuousness and personalization may also influence these relationships. Personality and striving for an ideal self can impact how self-concept relates to preferences and purchase intentions. A product's image can develop from how consumers
BB Chapter Ten : Motivation and PersonalityBBAdvisor
This document provides an overview of motivation, personality, and emotion in marketing. It discusses the nature of motivation and some key theories, including:
1. Maslow's hierarchy of needs, which proposes that basic needs must be satisfied before higher-level needs. This is applied to marketing cars.
2. McGuire's psychological motives framework, which categorizes motives as cognitive/affective and preservation/growth. Specific motives like the need for consistency and affiliation are discussed.
3. How marketers can appeal to consumers' underlying motives to create demand. Both manifest and latent motives are important to uncover. Overall motivations are key to understanding consumer behavior and developing effective marketing strategies.
Here is a possible presentation on the topic you provided:
Title: The influence of reference groups and opinion leaders on social media platforms
Introduction:
- Social media platforms have become an integral part of people's lives, especially among younger generations
- These platforms enable people to connect with friends, family and like-minded individuals online
- Communities form around shared interests, locations, activities etc on different social media
Body:
- Instagram is heavily influenced by fashion/lifestyle reference groups and opinion leaders
- "Influencers" with thousands of followers shape trends and buying decisions in their niche
- People aspire to the lifestyles portrayed and seek recommendations from influencers they follow
- Brands partner with
Branding affects consumers’ evaluation (also: the sensory perception)
→ Brands make decision making process easier for consumers
→ High Influence of brands on Consumer Behaviour, if a company was able to…
- Apply good brand strategy
- Build up a strong brand equity
→ Not only positive influence, brand can also have negative influence
Cultural, social, personal, and psychological factors influence consumer behavior. Cultural factors include culture, society, and subcultures. Social factors encompass reference groups, family, and social roles and status. Personal factors relate to aspects like age and lifestyle. Psychological factors concern consumer motivation, perception, learning, beliefs, and attitudes.
This chapter discusses problem recognition, which is an important stage of consumer decision making. It begins by describing the nature of problem recognition as arising from a gap between a desired and actual state. It then covers different types of consumer decisions like habitual, limited, and extended decision making that are influenced by purchase involvement. The chapter also discusses factors that influence problem recognition, both marketing and non-marketing factors. Finally, it outlines different marketing strategies related to problem recognition, such as discovering consumer problems, responding to problems, and helping or suppressing problem recognition.
This presentation covers the short description of Consumer Behavior- Perception and Learning, complemented by examples and Case studies. Prepared by Jasleen Kaur and Ishika, MBA, Indira Gandhi Delhi Technical University for Women, using Canva free version.
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson 9: MANAGING BRANDS OVER TIME
Faculty Name: Vishal Desai
Presentation on consumer behaviour and marketing strategyKARISHMA KUMARI
It is based on the consumer behaviour and their process and the marketing strategy how it influence on different products or brands. I took the example of PUMA its marketing strategy how it works and how it is brought to the market.
The presentation describes the perceptual process of consumers. It also briefly discusses the marketing implications of the perception. The slides also contain a quick class activity and possible assignment for students. With multiple examples, the presentation is an easy-to-use class teaching material.
Loyalty refers to a customer's commitment to rebuying a preferred product or service despite situational influences. There are different types of customer loyalty based on factors like habit, convenience, or advocacy for the brand. Marketers often categorize customers into groups based on their loyalty status: hard-core loyal buy only one brand; split loyal buy two to three brands; shifting loyal switch between brands; and switchers show no brand loyalty. Developing reciprocal loyalty benefits both customers and brands through rewarding customer experiences and appreciation.
customer loyalty is very important for a company or a brand, these slides contain the detail about loyalty, customer loyalty, types of customer loyalty and loyalty status...
created by:
Umair Ahmad
umair.100@hotmail.com
This document discusses key concepts in consumer behavior including:
1. Maslow's hierarchy of needs and how marketers have oversimplified applying it to different products satisfying different needs.
2. Consumer involvement, the factors that influence it like personal, product, and situational characteristics, and different types of involvement.
3. Models of consumer behavior based on involvement like low-involvement learning and levels of message processing.
4. The effects of involvement on information processing, search, and transmission between consumers.
5. Measuring involvement through scales and its importance for marketing applications and segmentation.
This document discusses various models of consumer behavior including traditional models like the economic, learning, and psychoanalytic models as well as contemporary models like the Howard Sheth, Nicosia, Webster and Wind, and Engel, Blackwell and Minard models. It provides details on key aspects of each model such as their assumptions, variables, decision processes, and limitations. The economic model views consumers as rational decision makers seeking to maximize utility within constraints. The learning model examines how experiences shape consumer behavior. Contemporary models offer more holistic perspectives that integrate additional influences.
The document discusses consumer attitudes and how they are formed from various sources of information and experiences. It also discusses several models of attitude formation, including the tricomponent model involving cognition, affect, and conation. Marketers can influence attitude change through advertising by appealing to personality traits or resolving conflicting attitudes. Personality is shaped by both innate and learned factors and influences consumer behavior. Marketers segment consumers based on personality traits like openness to experiences and self-monitoring behavior.
The document discusses consumer attitude formation and change. It defines an attitude as a learned predisposition to behave favorably or unfavorably towards an object. There are three main components that make up attitudes: the cognitive component involving knowledge and perceptions, the affective component involving feelings, and the conative component involving the likelihood of taking action. Models of attitudes include the tricomponent model and multiattribute models examining how attitudes are formed based on evaluations of product attributes or beliefs. Strategies for changing attitudes include associating products with admired groups, resolving conflicting attitudes, and altering components of multiattribute models.
BB Chapter Seven : Post Purchase Processes, Customer Satisfaction and LoyaltyBBAdvisor
The document discusses post-purchase processes, customer satisfaction, and consumer loyalty. It covers topics like post-purchase dissonance, product use and non-use, product disposal, purchase evaluation, customer satisfaction, and repeat purchase behavior. The key aspects of each topic are explained through examples and frameworks. Customer satisfaction is influenced by expectations, perceived performance across instrumental, symbolic, and affective dimensions. Dissatisfaction can lead to actions like taking no action, switching brands, or warning others.
Perception and Marketing- Consumer BehaviorAqib Syed
A research technique that enables marketers to plot graphically consumers’ perceptions concerning product attributes of specific brands.
Perception and Marketing- Consumer Behavior
BB Chapter One: Consumer Behavior and Marketing StrategyBBAdvisor
This chapter introduces key concepts in consumer behavior and how it relates to marketing strategy. It discusses [1] why studying consumer behavior is important for developing effective marketing strategies, [2] how consumer behavior influences various aspects of marketing strategy, and [3] a model of consumer decision making that involves both internal and external influences. The chapter emphasizes that understanding consumer behavior can provide competitive advantages and help companies make better strategic marketing decisions.
This document discusses consumer self-concept and its relationship to product image and choice. It defines key terms like self-image, ideal self-image, social self-image, and ideal social self-image. Products are seen as having images determined by attributes like packaging and advertising that can be congruent or incongruent with consumers' self-concepts. Research has found relationships between self-image/product image congruity and consumer choice, though findings are debated for social and ideal social self-images. Product conspicuousness and personalization may also influence these relationships. Personality and striving for an ideal self can impact how self-concept relates to preferences and purchase intentions. A product's image can develop from how consumers
BB Chapter Ten : Motivation and PersonalityBBAdvisor
This document provides an overview of motivation, personality, and emotion in marketing. It discusses the nature of motivation and some key theories, including:
1. Maslow's hierarchy of needs, which proposes that basic needs must be satisfied before higher-level needs. This is applied to marketing cars.
2. McGuire's psychological motives framework, which categorizes motives as cognitive/affective and preservation/growth. Specific motives like the need for consistency and affiliation are discussed.
3. How marketers can appeal to consumers' underlying motives to create demand. Both manifest and latent motives are important to uncover. Overall motivations are key to understanding consumer behavior and developing effective marketing strategies.
Here is a possible presentation on the topic you provided:
Title: The influence of reference groups and opinion leaders on social media platforms
Introduction:
- Social media platforms have become an integral part of people's lives, especially among younger generations
- These platforms enable people to connect with friends, family and like-minded individuals online
- Communities form around shared interests, locations, activities etc on different social media
Body:
- Instagram is heavily influenced by fashion/lifestyle reference groups and opinion leaders
- "Influencers" with thousands of followers shape trends and buying decisions in their niche
- People aspire to the lifestyles portrayed and seek recommendations from influencers they follow
- Brands partner with
Branding affects consumers’ evaluation (also: the sensory perception)
→ Brands make decision making process easier for consumers
→ High Influence of brands on Consumer Behaviour, if a company was able to…
- Apply good brand strategy
- Build up a strong brand equity
→ Not only positive influence, brand can also have negative influence
Cultural, social, personal, and psychological factors influence consumer behavior. Cultural factors include culture, society, and subcultures. Social factors encompass reference groups, family, and social roles and status. Personal factors relate to aspects like age and lifestyle. Psychological factors concern consumer motivation, perception, learning, beliefs, and attitudes.
This chapter discusses problem recognition, which is an important stage of consumer decision making. It begins by describing the nature of problem recognition as arising from a gap between a desired and actual state. It then covers different types of consumer decisions like habitual, limited, and extended decision making that are influenced by purchase involvement. The chapter also discusses factors that influence problem recognition, both marketing and non-marketing factors. Finally, it outlines different marketing strategies related to problem recognition, such as discovering consumer problems, responding to problems, and helping or suppressing problem recognition.
This presentation covers the short description of Consumer Behavior- Perception and Learning, complemented by examples and Case studies. Prepared by Jasleen Kaur and Ishika, MBA, Indira Gandhi Delhi Technical University for Women, using Canva free version.
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson 9: MANAGING BRANDS OVER TIME
Faculty Name: Vishal Desai
Presentation on consumer behaviour and marketing strategyKARISHMA KUMARI
It is based on the consumer behaviour and their process and the marketing strategy how it influence on different products or brands. I took the example of PUMA its marketing strategy how it works and how it is brought to the market.
The presentation describes the perceptual process of consumers. It also briefly discusses the marketing implications of the perception. The slides also contain a quick class activity and possible assignment for students. With multiple examples, the presentation is an easy-to-use class teaching material.
Loyalty refers to a customer's commitment to rebuying a preferred product or service despite situational influences. There are different types of customer loyalty based on factors like habit, convenience, or advocacy for the brand. Marketers often categorize customers into groups based on their loyalty status: hard-core loyal buy only one brand; split loyal buy two to three brands; shifting loyal switch between brands; and switchers show no brand loyalty. Developing reciprocal loyalty benefits both customers and brands through rewarding customer experiences and appreciation.
customer loyalty is very important for a company or a brand, these slides contain the detail about loyalty, customer loyalty, types of customer loyalty and loyalty status...
created by:
Umair Ahmad
umair.100@hotmail.com
The document outlines an agenda for a presentation on customer loyalty, discussing what loyalty is, how to set up loyalty programs and examples, trends and challenges in loyalty programs, alternatives to traditional loyalty programs called "Loyalty 2.0", and concludes with a case study. It explores shifting from traditional loyalty programs to more customized experiences that engage customers across channels like social media and mobile using data and technology.
This document discusses brand loyalty, which is a consumer's preference to consistently purchase the same brand over others. It is important for companies to achieve brand loyalty as it leads to higher sales volumes, premium pricing ability, and lower costs. The key to creating and maintaining brand loyalty is to focus on favorable brand attitudes by reminding consumers of the value of the product through advertising both before and after purchase. It is also important to develop an excellent product, provide incentives for repeat purchases, ensure high customer service standards, and make the brand highly convenient to purchase. Achieving brand loyalty significantly benefits a company's bottom line.
A very simple six stage system that explores how the product moves through the sales channel and more importantly how current customers are retained and new customers are won. This presentation is derived from the new employee sales orientation program at Teleco Supply. It is geared towards B2C wireless sales and is of value to any retail salesperson, front line/store manager, training manager or senior sales leadership. This was recently presented at the 2015 Canadian Wireless Trade Show.
This document provides an agenda for a presentation on customer loyalty given by Stéphanie Duchemin on November 25th, 2013. The agenda covers an introduction to The House of Marketing, definitions of customer loyalty, examples of loyalty program set-ups, trends and challenges in loyalty programs, and alternatives to traditional loyalty programs referred to as "Loyalty 2.0". Between agenda items, the presentation includes questions for attendees and illustrations of loyalty program examples.
Customer loyalty in Indian Luxury Retail is a mythAbhay Gupta
Is the Incredible Indian Luxury Customer loyal to a Luxury Brand or does he seek others as well ?? As they experiment by hopping from one brand to another, the customer is enjoying his trip on luxury !
The document discusses brand evaluation and patronage intentions in consumer behavior. It begins by defining brands and the objectives of branding. It then covers different types of brands and methods for evaluating brands, including economic income, market comparable, and cost approaches. The key dimensions for evaluating corporate brands are also outlined.
The document also discusses the importance of evaluating brands for stakeholders and adapting marketing strategies. It explores motives for consumer purchases, categorizing them as emotional vs. rational and product vs. patronage motives. Finally, it presents a model and measures for assessing the relationship between perceived store attributes, value, and patronage intentions.
Customer Loyalty Comprehension
Meaning and definition of customer loyalty, Significance of Customer Loyalty, Customer Loyalty Ladder,
Loyalty Principles, Benefits of Customer Loyalty, Customer Loyalty and its relationship with customer
satisfaction, Customer retention and Brand Loyalty, Factors affecting customer loyalty formation, Rai-Srivastava model of customer loyalty formation, Drivers of Customer Loyalty.
Customer loyalty programs aim to increase sales revenues and products purchased by building closer bonds between brands and customers. There are three popular models of customer loyalty: monogamy based on attitudinal loyalty, polygamy based on past purchase behavior, and promiscuity based on individual characteristics and circumstances. The implications of these models differ, with attitudinal loyalty programs focusing on enhancing positive beliefs and emotional commitment, behavior-based programs matching competitors, and contingency-based programs responding to situational factors. Loyalty programs are aimed at both increasing individual single-brand loyalty and growing brand size in the market through combination with other marketing efforts.
What is Brand Loyalty in Marketing ManagementMITSDEDistance
The PGDM Marketing Management course aims to empower students with the expertise and
capabilities needed for proficiently devising, executing, and evaluating marketing plans.
Brands Exist to Serve Customers,Not the other way around.But you’d never know that from the way Brands are Managed. But are we acting in Customer focused way or Brand focused way ?Brand Management still trumps Customer Management in most large companies and the focus is increasingly incompatible with Growth. Brand should be in the service of the larger goal: growing customer equity
Young Marketers Elite 2 - Retail Audit & Consumer Panel - Minh Vũ Mai BằngMai Bằng
Retail audits and consumer panels provide marketers with insights into market dynamics, brand performance, and consumer behavior. A retail audit systematically examines a firm's retail efforts by physically counting stock holdings and store purchases. It measures metrics like market share and distribution. A consumer panel consists of representative households that report purchases over time to track metrics like purchase frequency, size, and loyalty. Both provide timely, detailed data to help marketers understand opportunities and improve strategies.
these slides gives depth knowledge regarding consumer behavior. Marketing manager and students of Marketing can increase their knowledge regarding this aspect.
How Can Your Business Thrive During An Economic Crisis? Business Tactics & Ma...3 Colours Rule
Is your business able to cope with a crisis or an economic recession?
Fear is healthy, panic is deadly.
With Brexit and now the Coronavirus spreading a lot of businesses are affected. History repeats itself. We have done some research and I found the business tactics and marketing strategies that have helped some businesses thrive through the recession and flourish afterwards.
In this online training you will learn:
How to be in control and plan during an economic crisis and a recession:
- Why you shouldn’t panic
- How to effectively manage cashflow
- How to communicate effectively to attract and retain clients
- How to be the brand a customer will always choose first even when consumers are more price-sensitive
- What step should you take to make your business not only survive a crisis but thrive in it?
- Business tactics and marketing strategies to continue to grow through a crisis and flourish
If you are even a little bit uncertainty about how to navigate through any disruptive crisis, this online training is for you.
This online training is organised by 3 Colours Rule, an award-winning brand strategy agency based in London.
To support your business, join us for a free online talk and Q&A. Online seats are limited.
Shopper path to purchase three biggest decisions you can influencedkcvoom
This document discusses shopper insights and the path to purchase. It begins by establishing that shoppers are different than consumers and outlines a framework showing the cyclical decision making process between consumer demand and shopper purchases. It then provides a case study analyzing a specific retailer's top shopper segments to provide recommendations on how to influence key decisions around store choice, category purchases, and promotions to drive sales. The recommendations are tailored for each high-value segment and focus on leveraging digital tools, customizing assortments and messaging, and promoting strategically in high-performing store locations.
The document discusses how consumer buying trends have changed with the rise of online reviews and peer-to-peer information sharing. It notes that consumers now rely more on social media, friends, and expert and user reviews rather than just brand names or information from manufacturers. This has diminished the importance of marketing and increased the importance of other people's opinions (O). The document provides tools to help marketers understand where their products fall on the O continuum and strategies to adapt their competitive positioning, communications, market research, and product segmentation accordingly.
This document discusses factors that influence consumer buying behavior, including cultural, social, personal, and psychological factors. It outlines the consumer decision making process and different roles in the buying process. The document also discusses measuring customer satisfaction and maximizing customer lifetime value through analyzing customer profitability and calculating customer lifetime value. It introduces concepts of competitive advantage, customer equity, value equity, brand equity, and relationship equity.
Marketing PlanBy Tara SeitlerThe Gap Company 1.docxinfantsuk
Marketing Plan
By: Tara Seitler
The Gap Company
1
1
Agenda
Current Marketing Situation
Market Description
Product Review
Competitive Review
Distribution Review
SWOT Analysis
Micro-environments
Macro-environments
2
Current Marketing Situation
Market Description
Target Market
Market Targeting strategy
Value proposition – The Gap Company
Consumer behavior
Buyer decision principles
3
Target Market
GAP is a brand-builder.
We create emotional connections with customers around the world through inspiring product design, unique store experiences and compelling marketing.
It’s goal is to simply make it easy for customers to express their personal style throughout their life.
GAP hoped that effective Web initiative could let company to solidify its brand, improve customer relationships, serve markets that could not support a store and cut costs.
Company also believed that going online would attract new customers and steal market share from competitors.
4
Target Market- Segmentation
Target Section of Market
Residential,
Non-residential,
Mobility and
Personal
Buyers Category
Upper middle and upper class individuals
5
Marketing Strategy
Marketing objective is to create a perception in the mind of the customer about the product.
Build image of product as a different product through adopting the strategy of differentiation of porter
Restructure the business
6
Restructure Business
Transform business management focusing on from quantity to profitability
Reduce fixed cost and downsize business structure to fair size
TV set business
Product
Create competitive products on its strength
Cost structure
Thoroughly improve cost structure
Restructuring
Completion of domestic sites integration and acceleration of overseas sites restructuring
7
Pricing Decision and Strategy
Keep Retailer and Customer pricing strategies different
Captive Product Pricing
The company makes its pricing strategies by having the knowledge of its competitor`s pricing
We can include USB connectivity devices
We can include Home Theatre along with
The prices of these accessories are kept relatively than other brands.
8
Sale Strategy
Sale Strategy - Sale Through
Manufacturer whole seller/dealer consumer
Sale Out (Sales To the retailer)
Manufacturer (company) Authorized Dealers
9
Sale Through
Whole seller/retailers are the customers of manufacturers, manufacturers sell their products to the Whole seller and indirectly (through retailer) to the end consumers.
This process of selling is called “Sale Through”
Sale Out :
The company will sell the products to the retailers which are actually the customers of the Company.
There will be no medium used between the company and the retailer.
This procedure of selling is called “Sale Out”
9
Value Proposition
They are predicated value proposition from the mindset of your custome ...
Holiday shopping preferences 20 nov 2013Rusty Warner
This document summarizes the findings of a survey on holiday shopping preferences in 2013. Some key findings include:
- Consumers do research across channels like catalogs, mobile, and online, but social media is less used for research.
- Both online and in-store shopping are popular, with consumers valuing product evaluation, deals, and convenience differently between the channels.
- Mobiles are well used for product research but less for purchases. Consumers expect a consistent experience across channels.
- Most consumers will pay more for a better customer experience and are not loyal to any single brand.
Similar to consumer loyalty , purchase intentions and switching behaviour (20)
Strategic control involves tracking a strategy as it is implemented, detecting problems or changes, and making adjustments. It has several purposes, including helping achieve goals by monitoring and evaluating the strategic management process. There are different types of strategic control, including premise control to test assumptions, implementation control to monitor plans, strategic surveillance for broad monitoring, and special alert control for rapid response to unexpected events. Strategic control is meant to continually assess changes and their impact on an organization's strategy.
hrd systems, processes, outcomes and organizational effectiveness Vidhu Arora
This document discusses HRD systems, processes, outcomes, and organizational effectiveness. It outlines five major HRD systems - career, work, development, self-renewal, and culture systems. Each system has its own subsystems. HRD processes center around the individual, role, teams, and organization. Key HRD outcomes include increased competence, commitment, collaboration and change readiness. Organizational effectiveness is defined as how well an organization achieves its intended outcomes and is important for non-profits in particular. Effectiveness is measured by productivity, costs, profits, growth, and image.
Machinery to resolve industrial dispute Vidhu Arora
This document defines industrial disputes and outlines various machineries that can be used to resolve them, including conciliation, adjudication, and arbitration. It notes that an industrial dispute is any difference between employers and employees related to employment terms or conditions. Conciliation involves bringing parties together through a third party to discuss and reconcile differences. If conciliation fails, the dispute can be referred to adjudicating bodies like labor courts or tribunals for a binding decision. Arbitration is another option where an arbitrator issues an award after parties agree to accept their decision. The document provides details on conciliation officers, boards of conciliation, and various courts and tribunals that handle industrial disputes.
This document discusses the importance and use of customer relationship management (CRM) systems in the retail industry. It begins by noting how customer demands and expectations have changed, requiring retailers to shift from traditional to modern marketing focused on building customer relationships. The rest of the document then discusses what CRM is, how retailers have benefited from implementing CRM systems to collect and analyze customer data, develop targeted programs to increase satisfaction, retention and sales, and new trends in CRM technology.
The confrontation meeting is a one-day meeting developed by Richard Beckhard where an organization's entire management analyses problems, underlying causes, and develops action plans. In a series of activities, management generates information about major issues, prioritizes problems, and sets schedules for corrective actions. The confrontation meeting improves communication, morale, work culture, and problem solving through a structured seven step process including climate setting, information collecting, priority setting, and follow up review meetings.
The document describes plans to establish a pharmaceutical manufacturing firm called MedCo PHARMACEUTICAL MANUFACTURING FIRM located in SICOP Industrial Complex, Gangyal, Jammu. The firm will produce generic tablets and capsules with an initial installed capacity of 1800 MT per year. It provides details on the location, facilities, machinery, production process, suppliers, competitors, finances, and projected profits required to set up the manufacturing operation. The long term goals include expanding production capacity, product lines, and geographic reach to become a leading pharmaceutical manufacturer in India.
This document outlines the six steps involved in setting a price for products and services:
1. Selecting the pricing objective such as maximum profit, market share, or product leadership.
2. Determining demand through surveys, experiments, or analysis to estimate how price impacts sales.
3. Estimating costs such as fixed and variable to ensure the price covers costs.
4. Analyzing competitors' costs, prices, and offers to understand the competitive landscape.
5. Selecting a pricing method like markup, target-return, or value-based approaches.
6. Selecting the final price by considering the pricing method output and impacts of being too high or low.
This document discusses working capital financing. It defines working capital as the capital required for day-to-day operations of a business, such as purchasing raw materials and meeting salary expenses. It then discusses concepts of working capital like gross, net, permanent, and temporary working capital. The importance of adequate working capital is outlined, noting that it helps maintain business solvency and allows a business to take advantage of opportunities. Methods of financing both long-term and short-term working capital are described, including the roles of equity, debt, retained earnings, and bank financing. Regulation of bank financing by the Reserve Bank of India is also summarized.
The document discusses life positions, which are basic beliefs about oneself and others that are formed in childhood and influence behavior and decision-making. It describes the four primary life positions outlined by Eric Berne:
1. "I'm OK, You're OK" - A mentally healthy position where one believes in their own and others' worth.
2. "I'm not-OK, You're OK" - A depressive position where one feels powerless compared to others.
3. "I'm OK, You're not-OK" - A paranoid position where one feels victimized by others.
4. "I'm not-OK, You're not-OK" - A futile position
Transactional Analysis (TA) is a theory that views personality as consisting of an internal Parent, Adult, and Child. Eric Berne discovered TA and proposed that people engage in ego states when interacting. Transactions are stimuli between people based on their current ego states. Straight transactions involve complementary ego states responding, while crossed transactions involve mismatched ego states. Berne also identified ulterior transactions, strokes, life scripts, existential positions, and games that people play for various psychological reasons. TA provides a framework for understanding interpersonal dynamics and improving communication.
The Johari Window model is a tool for self-awareness, personal development, and understanding relationships. It represents information about a person from four perspectives: (1) open self known to self and others, (2) blind self known to others but not self, (3) hidden self known to self but not others, and (4) unknown self unknown to self and others. The goal is to increase the open self through feedback, disclosure, and discovery, while decreasing the blind, hidden, and unknown selves. As team members get to know each other better over time, their open selves expand and the other areas shrink, leading to better communication and relationships.
SMTP is the standard protocol for sending emails between servers. Under SMTP, a client SMTP process opens a TCP connection to a remote server SMTP process and sends mail across the connection. The server listens on port 25 for connections. When a connection is made, the two processes execute a simple request-response dialogue defined by SMTP to transmit sender and recipient addresses and the email message itself. Mail is then forwarded to remote servers or delivered locally. POP3 and IMAP allow users to download stored mail from the local server.
Plans can be classified based on organizational level, focus, and time period. There are three levels of organizational planning: corporate (top-level), divisional (middle-level), and sectional (lower-level). The three focuses of planning are strategic (setting long-term objectives), operational (implementing strategic plans), and tactical (addressing short-term changes). Planning also differs based on time period: long-range (5+ years), medium-range (1-5 years), and short-range (under 1 year). Corporate planning sets overall objectives, policies, and strategies. Divisional planning sets objectives for departments in line with corporate goals. Sectional planning lays out detailed plans for work units to achieve
ShopClues.com is an online marketplace headquartered in India with over 12,000 merchants selling 200,000 products to 42 million visitors annually. The company hired Enormous as its creative agency to develop a new branding campaign called #MallNahiMarket that depicts virtual street markets to position ShopClues as a mass brand that provides the experience of shopping in typical Indian street markets with competitive prices. The campaign includes television commercials showing a shopper dancing to the jingle "yeh mall nahi hai, market hai, yeh good for the pocket hai" to convey ShopClues' target market of bargain hunters.
Organizational culture is defined as a system of shared meanings held by members that distinguishes an organization. It is shaped by values and behaviors that influence how employees act. There are dominant and sub-cultures within organizations. Culture is created through strategic values determined by management that guide employee actions and behavior. Culture is maintained through employee selection and socialization processes like storytelling that reinforce core values. Organizational change challenges the existing culture and can lead to resistance, so managers must understand reasons for resistance and involve employees in the planning process to successfully implement changes.
advertisement report on nerolac - "Ghar ki suraksha yaani izzat ki suraksha"Vidhu Arora
The advertisement is for Nerolac Suraksha paint by Kansai Nerolac Paints. It shows a postman disrespecting a homeowner, addressing him as "Ghanshu" instead of "Dr. Ghanshyam", because his house looks old and worn. Despite the homeowner's efforts to earn respect through education, the postman's behavior does not change until he is told painting his house with Nerolac Suraksha will protect his image along with protecting his house from rain and sun. The ad aims to show that exterior of homes impact perceptions of the homeowner's status and respect, and that Nerolac Suraksha provides value by enhancing homes' and homeowners' image afford
Knowledge management involves identifying, capturing, sharing, and applying an organization's expertise and information assets. It aims to leverage existing knowledge and promote new knowledge growth across an organization. The knowledge management life cycle includes capturing knowledge from various sources, organizing it, refining it through activities like data mining, and transferring it to employees. Implementing an effective knowledge management system can help organizations learn from experience, better utilize existing knowledge, enhance innovation, and protect core competencies.
The document provides an overview of the Information Technology Act, 2000 which is the primary law dealing with cybercrime and electronic commerce in India. It was enacted based on a UN model law to provide legal recognition to electronic transactions and facilitate e-commerce. The key points covered include objectives of the act, scope and applications, amendments introduced, provisions related to digital signatures, roles of certifying authorities, duties of subscribers, and penalties for offences.
This document provides an overview of different forms of business organizations under Indian law. It discusses private enterprises such as sole proprietorships, partnerships, joint stock companies, and Hindu Undivided Families. It then covers cooperatives and their definition and types. Finally, it examines public sector enterprises and types of public sector organizations. The document includes details on the characteristics, advantages, and disadvantages of each form of business organization. It provides a comprehensive yet concise introduction to the legal aspects and types of businesses in India.
A debenture is a type of loan issued by a company to raise funds. There are different types of debentures based on security, redemption period, record keeping, and convertibility. Debentures offer companies a way to raise funds for a specific period without diluting ownership, but carry more risk than shares if the company fails to repay on time. Debenture holders are creditors entitled to interest payments, while shareholders are owners entitled to potential dividend payments from company profits.
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Amsive
Lily Ray, Vice President of SEO Strategy & Research at Amsive, explores optimizing strategies for sustainable growth and explores the impact of AI on the SEO landscape.
In the face of the news of Google beginning to remove cookies from Chrome (30m users at the time of writing), there’s no longer time for marketers to throw their hands up and say “I didn’t know” or “They won’t go through with it”. Reality check - it has already begun - the time to take action is now. The good news is that there are solutions available and ready for adoption… but for many the race to catch up to the modern internet risks being a messy, confusing scramble to get back to "normal"
Empowering Influencers: The New Center of Brand-Consumer Dynamics
In the current market landscape, establishing genuine connections with consumers is crucial. This presentation, "Empowering Influencers: The New Center of Brand-Consumer Dynamics," explores how influencers have become pivotal in shaping brand-consumer relationships. We will examine the strategic use of influencers to create authentic, engaging narratives that resonate deeply with target audiences, driving success in the evolved purchase funnel.
Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
janani Digital Marketer|Digital Marketing consultant|Marketing Promotion|Coim...janudm24
Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Janani Digital Marketer
Coimbatore,Tamilnadu.
Customer Experience is not only for B2C and big box brands. Embark on a transformative journey into the realm of B2B customer experience with our masterclass. In this dynamic session, we'll delve into the intricacies of designing and implementing seamless customer journeys that leave a lasting impression. Explore proven strategies and best practices tailored specifically for the B2B landscape, learning how to navigate complex decision-making processes and cultivate meaningful relationships with clients. From initial engagement to post-sale support, discover how to optimize every touchpoint to deliver exceptional experiences that drive loyalty and revenue growth. Join us and unlock the keys to unparalleled success in the B2B arena.
Key Takeaways:
1. Identify your customer journey and growth areas
2. Build a three-step customer experience strategy
3. Put your CX data to use and drive action in your organization
From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptxBoston SEO Services
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
Mindfulness Techniques Cultivating Calm in a Chaotic World.pptxelizabethella096
In today’s fast-paced world, stress and anxiety have become common companions for many. With constant connectivity and an unending stream of information, finding moments of peace can seem like an insurmountable challenge. However, mindfulness techniques offer a beacon of calm amidst the chaos, helping individuals to center themselves and find balance. These practices, rooted in ancient traditions and supported by modern science, are accessible to everyone and can profoundly impact mental and emotional well-being.
Boost Your Instagram Views Instantly Proven Free Strategies.pptxInstBlast Marketing
Join Performance Car Exclusive to drive the finest supercars, engineered with advanced materials and cutting-edge technology for peak performance.
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AI Best Practices for Marketing HUG June 2024Amanda Farrell
During this presentation, the Nextiny marketing team reviews best practices when adopting generative AI into content creation. Join our HUG community to register for more events https://events.hubspot.com/sarasota/
We’ve entered a new era in digital. Search and AI are colliding, in more ways than one. And they all have major implications for marketers.
• SEOs now use AI to optimize content.
• Google now uses AI to generate answers.
• Users are skipping search completely. They can now use AI to get answers. So AI has changed everything …or maybe not. Our audience hasn’t changed. Their information needs haven’t changed. Their perception of quality hasn’t changed. In reality, the most important things haven’t changed at all. In this session, you’ll learn the impact of AI. And you’ll learn ways that AI can make us better at the classic challenges: getting discovered, connecting through content and staying top of mind with the people who matter most. We’ll use timely tools to rebuild timeless foundations. We’ll do better basics, but with the most advanced techniques. Andy will share a set of frameworks, prompts and techniques for better digital basics, using the latest tools of today. And in the end, Andy will consider - in a brief glimpse - what might be the biggest change of all, and how to expand your footprint in the new digital landscape.
Key Takeaways:
How to use AI to optimize your content
How to find topics that algorithms love
How to get AI to mention your content and your brand
Evaluating the Effectiveness of Women-Focused MarketingHighViz PR
Women centric marketing is a vital part in reaching one of the most influential groups of consumers. Here is a guide to know and measure the impact of women-centric marketing efforts-
What Software is Used in Marketing in 2024.Ishaaq6
This paper explores the diverse landscape of marketing software, examining its pivotal role in modern marketing strategies. It provides a comprehensive overview of various types of marketing software tools and platforms essential for enhancing efficiency, optimizing campaigns, and achieving business objectives. Key categories discussed include email marketing software, social media management tools, content management systems (CMS), customer relationship management (CRM) software, search engine optimization (SEO) tools, and marketing automation platforms.
The paper delves into the functionalities, benefits, and examples of each type of software, highlighting their unique contributions to effective marketing practices. It explores the importance of integration and automation in maximizing the impact of these tools, addressing challenges and strategies for seamless implementation across different marketing channels.
Furthermore, the paper examines emerging trends in marketing software, such as AI and machine learning applications, personalization strategies, predictive analytics, and the ethical considerations surrounding data privacy and consumer rights. Case studies illustrate real-world applications and success stories of businesses leveraging marketing software to achieve significant outcomes in their marketing campaigns.
In conclusion, this paper provides valuable insights into the evolving landscape of marketing technology, emphasizing the transformative potential of software solutions in driving innovation, efficiency, and competitive advantage in today's dynamic marketplace.
This description outlines the scope, structure, and focus of the paper, giving readers a clear understanding of what to expect and why the topic of marketing software is important and relevant in contemporary marketing practices.
3. CUSTOMER LOYALTY
Customer loyalty is both attitudinal and
behavioral tendency to favor one brand over
all others, whether due to satisfaction with the
product and services, its convenience or
performance, or simply familiarity and comfort
with the brand.
It is a deeply held commitment to re-buy
product or services.
4. TYPES OF LOYALTY
There are four traditional types of loyalty that how
loyal a consumer is to a brand:
5. No Loyalty:
o group of customers that is not loyal to brands.
Businesses should avoid targeting no-loyalty buyers
because they will never be loyal customers; they add
little to the financial strength of the business.
Inertia Loyalty:
o This customer buys out of habit. It’s the “because we’ve
always used it” or “because it’s convenient” type of
purchase. This buyer feels some degree of satisfaction
with the company, or at least no real dissatisfaction.
eg : local departmental stores or drycleaner
6. Latent Loyalty:
o A high relative attitude combined with low repeat
purchase signifies latent loyalty. This type of loyalty refers
to consumers who might not purchase often from a brand
but when they do purchase, they always purchase from
the one brand.
Premium Loyalty:
o premium loyalty, the most leverageable of the four types,
prevails when a high level of attachment and repeat
purchase. This is the preferred type of loyalty for all
customers of any business.
7. Today’s consumer demands more from the brands they
love, and as marketers, it’s our job to give it to
them. There is a better type of loyalty that brands
should be looking to increase, which is called
“Reciprocal Loyalty.”
8. Reciprocal Loyalty:
o It creates a relationship where consumers support
brands through advocacy, purchase behavior, and
community participation.
o As a result, brands then appreciate consumers through
investing in their experiences, providing valuable
content and thanking consumer with rewards and
benefits.
9. LOYALTY STATUS
Marketers usually four groups based
on brand loyalty status:
o Hard-Core Loyal: consumers who buy only one
brand all the time,
o Split Loyal: consumers who are loyal to two or
three brands,
o Shifting Loyal: consumers who shift loyalty from
one brand to another,
o Switchers: consumers who show
no loyalty towards brand.
12. • The willingness of a customer to buy a
certain product or a certain service in a near
future.
• Linked with the consumer’s attitude, perception and
buying behavior.
• It is a dependent variable that depends on
several external and internal factors.
PURCHASE INTENTIONS
13.
14. Will you buy a Mercedes-Benz automobile
during the next 12 months?
Where 1 – No chance
5 - I definitely will
Purchase intentions represents what
consumers think they will buy
1 2 3 4 5
16. ATTITUDE OF OTHERS
The person’s attitude influence purchases because
of 2reasons :
1. The intensity of other person’s negative attitude
2. Consumer’s motivation to follow other person’s wishes
17. Example : Suppose Ram’s wife feels strongly that Ram
should buy the lowest-priced computer to keep down
expenses.
18. AS A RESULT
Ram’s “purchase probability” for
other computers will get
reduced.
19. “It can affect consumer’s decision to modify, to
postpone or avoid purchase decisions.
• Changes in income, change of priority eg.
Sudden payment of educational fees etc
UNANTICIPATED SITUATIONAL
FACTORS
21. UNANTICIPATED SITUATIONAL FACTORS
• Heavily influenced by
Perceived risk.
Marketer must understand the factors that
provoke a feeling of risk in consumers and
provide information and support that will reduce
the perceived risk.
22. Serve first, sell second
Aggressively seek out customer
complaints
Get and stay responsive
Win back lost consumers.
Use multiple channels to serve the
customers well
So what Marketers can do?
23. HERO HONDA
created a memorable
campaign with its “fill
it, shut it, forget it”
to highlight its
effective mileage.
Activa ( scooter) launched a
campaign on its mileage and
features.
24. Switching Behaviour
• Consumer-switching behaviour refers to
customers abandoning a product or service in
favour of a competitor's.
• For example, a customer might move funds
from one bank to another if he is dissatisfied
with the customer service at the first.
25. Definition
• Consumer-switching behaviour is an ever-
present danger for a business -- if you don’t
keep your customers happy, your competitors
might directly get benefit.
• Brand switching—as opposed to brand
loyalty is the outcome of customer switching
behaviour.
26. Study by AMA:
• According to estimates made by American
marketing Association it takes 4 times more
expenditure to get a new customer then
retaining a potential customer.
27. Basis of Brand Switching:
• Brand switching can happen for five reasons,
but mainly based on price considerations. The
overall global averages are:
Better Price (41%)
Better Quality (26%)
Better Service Agreement (15%)
Better Selection (10%)
Better Features (8%)
28. Reasons behind Brand Switching
• Product quality .
• Unavailability of product.
• Offers and uniqueness in other brands.
• Price escalation or hike also leads to brand.
• Low research and development which not
provide innovation in product quality and
standards.
29. • Inconsistent Brand positioning of the product
and brand.
• Customer did not possess the desired
satisfaction level which changes his attention
towards alternatives available in the market
• Kleptomaniac customers who just Wish to
taste and consume every kind of product and
utility possession.
Reasons behind Brand Switching
30. • Advertisements by Competitors.
• Boredom: Consumers might leave just for the
sake of variety.
• Role of Celebrity.
Reasons behind Brand Switching
31. How to prevent Brand Switching?
• Considerations:
– Prevent consumer switching by soliciting feedback
and continually optimizing your customer service.
– You can’t please everybody, but making the effort
can go a long way.
– If your customers sense that you are out for their
best interests, brand loyalty will develop, and your
business will be less threatened by consumer-
switching behavior.