What Motivates a Consumerto Take Action?• Needs - state of felt deprivation for basic itemssuch as food and clothing and complex needssuch as for belonging. i.e. I am thirsty• Wants - form that a human need takes as shapedby culture and individual personality. i.e. I wanta Coca-Cola.• Demands - human wants backed by buyingpower. i.e. I have money to buy a Coca-Cola.
What Will Satisfy Consumer’sNeeds and Wants?• Products - anythingthat can be offered toa market for attention,acquisition, use orconsumption and thatmight satisfy a needor want.• Examples: persons,places, organizations,activities, and ideas.• Services - activities orbenefits offered forsale that areessentially intangibleand don’t result in theownership ofanything.• Examples: banking,airlines, haircuts, andhotels.
How Do Consumers ChooseChoose Among Products andServices?• Customer Value• Customer Satisfaction
How do Consumers ObtainProducts and Services?• Exchanges• Transactions• Relationships
Who Purchases Productsand Services?Market - buyerswho share aparticular needor want that canbe satisfied by acompany’s productsor services.ActualBuyersPotentialBuyers
Modern Marketing SystemSuppliersEnd UserMarketMarketingIntermediariesCompetitorsCompany(Marketer)EnvironmentEnvironment