Doroschuk, I. (1989). Everybody's Selling Something. In YouTube. Retrieved June 16, 2012, from http://www.youtube.com/watch?v=jivSbcj82tA.
What is Marketing?
What is Marketing? KENTON LARSEN
Marketing is: Product, place, price, promotion Goods and services Exchanges To satisfy wants and needs In order to…MAKE MONEY
Utility The ability to satisfy consumers’ wants and needs: Glamour Sex appeal Status Functionality Form – tangible Task – service Possession – “for sale” Time/place – where and when consumers want it.
Psychology Exchanges: based on “value” Perception: based on “equal exchange” Satisfaction: based on prior experience
Customers Current: buy the product Prospective: considering buying the product Opinion leaders: influence others to buy the product
Markets Consumer: buy for their own use Government: buy for civic, provincial, federal use Local/Regional/International: Business: Resellers – buy to resell Industrial – buy to build something else
Marketers True or false: Everybody sells. Men Without Hats - Everybodys Selling Something Marketer: Anyone with an idea, product, or service to sell.
Consumer psychology Personal processes: Perception – learning – motivation Interpersonal influences: Family – Society – Culture Non-personal influences: Time – Place – Environment Purchase decisions: Alternatives Post-purchase feelings: Positive or negative
Personal processes Perception: the product exists. Learning: the product is compelling. Persuasion: you need to buy the product. Motivation: you need to buy it now!
Learning and persuasion Learning: Change in thought or behavior caused by experience. Persuasion: Change in thought or behavior caused by promotional activities.
Persuasion Central route: High involvement. Peripheral route: Low involvement. Most advertising is peripheral: People don’t pay close attention to ads, unless they deeply desire the product, are considering buying it, or have already bought it.
Interpersonal influences Family: Early, long-lasting influence Society: Opinion leaders, reference groups Cultural: Needs and wants handed down from generation to generation Heroes: Celebrities, sports figures, etc.
Non-personal influences Time: When do you need the product? Place: Where? Financial: Can you afford it? Social: Will you be rewarded for buying it? Political: Will the GST stop you from buying it? Economic: Good or bad economy?
The purchase decision Evoked set: The brands you mull over Evaluative criteria: Your standards Purchase decision: Buy, don’t buy, think about it
Cognitive dissonanceWhy did I buy this #@$!? Justifying behavior, usually after you make a purchase. The more costly the exchange, the greater the dissonance. The more satisfying, the less the dissonance. Form long-term brand perceptions: positive and negative.
Sources All images: from Microsoft PowerPoint clip art, 2008 Song: Doroschuk, I. (1989). Everybodys Selling Something. In YouTube. Retrieved June 16, 2012, from http://www.youtube.com/watch?v=jivSbcj82tA.