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What is marketing.01


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What is marketing.01

  1. 1. Page 1 of 13 Subject—Marketing Management Type— Assignment Topic— Consumer Buying Behavior, Market Segmentation, Target Market Submitted to— Purvi Mem By—Rajat Gandhi Roll No.- 07
  2. 2. Page 2 of 13 SY BBA (Sem-III)
  3. 3. Page 3 of 13 What is Marketing? Marketing is the Process of Planning & Executing the conception, pricing, promotion & distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals. Marketing management- Marketing mgmt is the art & science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value. Today the word Marketing is not limited to Advertisement but today marketing is start from before the production to sale the production. Before some years ago the information of consumers related to the product was not increased but after that information sources are increased, consumer start to take the interest in the getting the information about the products. As well as the global markets are grows companies are staring to promote their products, improving the services before the sale & after the sale and starting to get the feedback from the consumer.
  4. 4. Page 4 of 13 Consumer Buying Behaviour Process Here we are taking Mobile Phone as a product so we can evaluate process very well. And take a person named Mr. Patel as a Consumer. Need Recognition: This is the first step of the Consumer Buying Behaviour Process. First Mr. Patel thinks about their needs of the Mobile, whether he wants to use for Communication like Calling or for games and entertainment or for surfing the internet easily or whether all these. Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Post Purchase Decision
  5. 5. Page 5 of 13 Information Search: Now after deciding the needs of mobile for ex. Mr. Patel wants to use mobile with all uses of it. So now he started to search about the types of mobile available in the Market. Mainly 4 sources are there to get the information. 1) Personal Sources 2) Commercial Sources 3) Public Sources 4) Experience  In the Personal source Mr. Patel will get information from his Friends, family & relatives.  In the Commercial source Mr. Patel will get information from Net, TV Media, Print Media.  In the Public source Mr. Patel will tried to get some information like Couliges, Other people.  In the past if Mr. Patel was bought any mobile than he knew the common or special features of the some of the mobile mfg company. Evaluation of Alternatives: As result of information search, Mr. Patel gets the ideas regarding types of products, qualities of brands etc. So now Mr. Patel evaluates competitive brands and makes a final value judgment. There is no single process used by all consumers. But there are some basic concepts. 1) Consumer is trying to satisfy a need. 2) Consumer is looking for certain benefits from the product solution. 3) Consumer sees each product as a bundle of expectations and compare wit budget.
  6. 6. Page 6 of 13 Purchase Decision: In the evaluation stage, consumer may also form an intention to buy the most preferred brand. Here, two factors can intervene between the purchase intention and purchase decision. 1) Attitudes of others 2) Unanticipated situational factors Before buying any product, consumer takes opinion from others & also discusses with his partner. For ex. Before purchase a car person discussed with his family & with his wife and takes their opinion. Here Mr. Patel can ask the opinion of his wife also. Many times because of unanticipated factors consumer changed his decision, like family income, price increasing. Manier times customer changed his decision of purchase at the last time. There are some factors which are affects the consumer’s behavior to changed his decision. For ex. Mr. Patel goes to purchase a new mobile of a particular brand & there is a misunderstanding happens between them or they rude with the misbehave of shopkeeper. Post-Purchase Behavior: After purchasing the product, the consumer will experience some level of satisfaction or dissatisfaction. The marketer’s job thus, does not end when the product is brought. Marketers must monitor post-purchase satisfaction, post-purchase actions and post-purchase product uses.  Consumer feel level of satisfaction/dissatisfaction by using the product. If he feels dissatisfaction then he will not purchase that brand’s product again.  For ex. Mr. Patel bought a mobile of a brand say “Micromax”, now after purchasing the mobile there is some software problem in the mobile & he has to go at service centre then He will surely feeling dissatisfaction about purchasing of “Micromax”. Now he will also advice others to not to buy the mobile of micromax.
  7. 7. Page 7 of 13 Factors Affecting Consumer Behaviour—  Cultural factors— Culture, subculture & social class are important influences on consumer buying behavior. It refers to the set of values, ideas, and attitudes that are accepted by homogenous group of people.  Culture is the fundamental determinant of a person’s wants & behavior. It affects what people buy, how they buy & when they buy.  In the society normally there are 3 types of class. 1) Upper 2) Middle 3) Lower  Now days every one can get the mobile very easily, & also in very flexible price.  Normally Cultural factors does not affect the buying decision to purchase a Mobile, It is the different matter if a lower level person wants to purchase a very high expensive mobile like “Apple”.  Social factors— • Reference group- Every person is connected with any group, directly or indirectly. These groups are influence on a person’s behavior or attitude. Many times people does not belong with a particular group but if he want to be a part of such group then he tried to behave like that. For ex.- In office of Mr. Patel everybody has the phone of “Blackberry” then he might be influenced to purchase the mobile of blackberry. • Family- Family is the most important buying organization of the society. A person like to purchase that type of product which are liked by his/her family and it Cultural Culture Sub-Culture Social class Social Reference- Group Sub-Culture Social class Personal Age & Life- cycle Economic situation Personality & self concept
  8. 8. Page 8 of 13 satisfied the need of the family. Like, a person wants to buy a Santro but if his family is big then he will changed his decision.  For example, If wife of Mr. Patel likes then mobile of Samsung then he might be purchase mobile of the same.  Personal factors— • Age & Life style- A person might be buy product as per his age and as per the life style of his/her family. Like if a person live a very simple life then he likes to buy a very simple mobile rather than smart phone.  Mr. Patel is a manager in a reputed co. and elder age then there is a chances of purchasing a smart phone but a simple. • Occupation & economic circumstances- The economic situation of a person is also very effective factors for the purchase decision. Say, if a person is very simple employed and in his company camera phone is not allowed then he has to purchase a very simple mobile. And if a person is a businessman & he has to high use of e-mails, and manage his schedule then he like to purchase a “Windows” mobile or “Blackberry”, so that he can work easily. & faster. • Personality- Each person has his own personality characteristic that influences his or her buying behavior. Personality can be useful variable in analyzing brand choices. People always choose & use the product which suit his/her personality. • Life style & values- People from the same subculture, social class & occupton may lead quite different lifestyle. Different lifestyle means different activities, interest, and opinion.  If Mr. Patel is a manager of a reputed co. then it is normal thing that he lives an high life degree of life style & his opinion are also as per his interest & activities. So he might be like to purchase mobile that type of mobile which suits his personality.
  9. 9. Page 9 of 13 Market SegMentation The process of dividing a market into groups of similar consumer & selecting the most appropriate groups of individuals for the firm to serve. Market segmentation can be defined as the process of dividing a potential market into distinct subset of consumer with common needs or characteristics & selecting one or more segments to target with a distinct marketing mix. Geographic Segmentation : Segmentation of consumer based on factors like climate zone, country, region, state, district, and urban/rural area, constitutes geographic segmentation. National markets within a country like India, often segment the market by Region, State, District and Urban or Rural area, first, and then go for segmentation on other bases. Rural & urban markets differ on a number of important parameters such as income, spending power, mobile networks. They both have different social and cultural. Example There are so many mobile networks in India, but people of interial area of India or people who leave in Himalaya area, they has to use the network of BSNL because private players did not reach there. Market Segmentation Market Segmentation Demographics Geographic Socio-Cultural Buying Behavior Psycho-graphics
  10. 10. Page 10 of 13 Demographic Segmentation : Segmentation of consumer based on variables such as religion, community, language, age, stage in family cycle, gender, marital status, family size, occupation, economic position/income, and social status, of the consumer demographic segmentation.  Example “ Amul” has segmented his product in different Age group For kids: Amul kool, Chocolate milk, Nutramul energy drink. For Youth: Amul cool kafe For women’s and older people: Amul calci+, Amul Shakti energy drink Psychographic Segmentation : Psychographic Segmentation groups customers according to their life-style and buying psychology. Many businesses offer products based on the Attitudes, Beliefs and Emotions of their target market. In psychographic segmentation, elements like life style, attitude, self-concept and value system, form the base  Example, “Life style”: Life style forms a major base under psychographics segmentation. Café Coffee Day They choose lifestyle oriented, urban consumers as target with youth. They make coffee an ‘experience’ and provide a special experience to chosen segment.
  11. 11. Page 11 of 13 Behavioural Segmentation : Behavioral segmentation is based on user behaviors, including patterns of use, price sensitivity, brand loyalty and benefits sought. A company may have customers with a similar demographic makeup but distinct behavior. Some may use the product daily or weekly or monthly. So buyer’s characteristics are reflected by their geographic, demographic and psychographic profile.  Example : Usage rate: - Heavy user / moderate user / light user of a product. User status: - Regular / potential / first time user / irregular /occasional. Loyalty status: - Hard core loyal / split loyal / shifting / switchers. Occasion: - Consumer buy product only on special occasion or every time. target Market ⇒ Target market of “Dairy Milk Silk” of Cadbury company. The main Target of Dairy Milk Silk is the young generation. They mostly tried to attract the youth for the product. Task to be done to target the youth. @Select the Wrapper for the product- They tried to make the cover of Dairy Milk Silk attractive, with combination of Dark & Light colour. And they make the cover fat to attract the people. @Design the Advertisement- The target of the company is the young generation, so they tried to make Romantic advertisements with couple. They add English music in the all advertisement, to attract the youth of 16-30.
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