Collective decision making
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This document discusses several topics related to group and situational effects on customer behavior: - Collective decision making in organizational buying involves sharing information and developing organizational memory to make important purchase decisions. - B2B e-commerce allows exchanges of information, products, services, or payments online through catalogs and auctions among suppliers and purchasers. - Defining the modern family looks at extended and nuclear families as well as households containing at least two related individuals in today's culture of divorces and separations.
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[ ]Costumer Behavior
Topic: Group and Situational Effects on Customer Behavior](https://image.slidesharecdn.com/collectivedecisionmaking-161120085536/85/Collective-decision-making-1-320.jpg)
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4.5. market positioning
This document discusses marketing positioning strategies. It defines positioning as creating distinct and valued differences between a product and competitors as perceived by customers. Critical aspects of positioning include being distinct, valued, physical, and perceptual to customers. The document outlines steps for creating a favorable position, including identifying customer needs and evaluating competitors. It also discusses tools for assessing market segments like a segment rating chart and market attractiveness/competitive position matrix. Finally, it compares physical and perceptual positioning analysis and outlines steps in the positioning process.
4.4. market differentiating
The document discusses differentiation and positioning strategies. It defines differentiation as creating differences in a firm's product that set it apart from competitors through distinct features, services, or characteristics. Positioning refers to creating a mental image of the product and its benefits in the minds of customers. While differentiation is based on the actual product, positioning depends on customers' perceptions of the product's real or perceived advantages relative to others. The document also notes that differentiation can be achieved through product descriptors or customer support services.
4.3. market branding
This document discusses branding strategies and key branding concepts. It covers basic branding decisions around product identification, comparison shopping, and risk reduction. Branding can enhance self-image and product loyalty. The document also discusses strategic brand alliances and how branding builds brand value through recognition, preference, and insistence. Customers who are brand insistent will go out of their way to find and purchase their favorite brand.
4.2. market targeting
The document discusses various targeting strategies for companies including single segment targeting, selective targeting, mass market targeting, product specialization, market specialization, niche-market strategy, mass-market strategy, growth-market strategy, and global market segmentation. The strategies allow companies to focus their marketing efforts on specific customer segments or markets to attract customers.
4.1. market segmentation
This document discusses market segmentation and targeting. It defines market segmentation as dividing a market into distinct groups of customers with distinct needs, characteristics, and behaviors. The key benefits of segmentation are identifying new product opportunities, designing effective marketing programs for groups, and improving resource allocation. However, segmentation risks missing customers that don't fit segments and misjudging target markets. The document outlines traditional and individualized segmentation approaches and criteria for successful segmentation like identifiable segments that are substantial, accessible, and responsive. It also discusses defining segments using demographic, geographic, behavioral, and other descriptors for both consumer and business markets.
3.3. forecasting market opportunities
The document discusses various methods for forecasting market opportunities and their advantages and limitations. It describes statistical methods that use past data but don't work for new products, observation methods that require prior examples, survey methods that provide opinions that may not reflect reality, analogy methods that compare to similar past products but conditions may differ, judgment methods based on experience but hard to defend, and market test methods that are most accurate but also expensive.
3.2. measuring market opportunities
There are four key types of systematic market knowledge systems that provide essential information for assessing markets and industries: internal records, marketing databases, competitive intelligence systems, and client contact systems. Additionally, targeted marketing research can provide insights into particular marketing challenges. Sales forecasts can be generated using either a top-down or bottom-up approach, and utilizing both concurrently is recommended as each has different strengths and insights that provide greater confidence if the results are similar. The six evidence-based forecasting methods outlined are statistical, observation, surveys, analogy, judgment, and market tests.
3.1. understanding market opportunities test
The document discusses conducting a situation analysis for marketing strategy. It covers:
1) A situation analysis describes current and future issues and trends affecting the internal, customer, and external environments. This gives an organization a "big picture" of how to deliver value.
2) Issues to consider include objectives, resources, customers, competition, economic conditions, regulations and more.
3) Conducting an analysis requires evaluating data, not just collecting it. The benefits of analysis must outweigh the costs. It is a challenging exercise.
4) A SWOT analysis is an effective tool to structure the assessment of strengths, weaknesses, opportunities and threats. It helps uncover competitive advantages to leverage in strategy.
Cost based pricing
This document discusses cost-based pricing strategies and compares traditional costing approaches to activity-based costing. Traditional costing allocates overhead expenses arbitrarily, which can reduce customer value. Activity-based costing links resource expenses to the variety and complexity of goods and services, yielding more accurate cost information. However, when setting prices, customers care more about the value of the product to themselves rather than the production costs to the firm.
Topic7.1c2 compensation how_to_createa_market-competitive_payplannew
This document provides an overview of the factor comparison and point methods for quantitative job evaluation. It includes examples of how to rank jobs based on compensable factors like mental requirements, physical demands, skills, responsibilities, and working conditions. Tables show rankings of sample jobs and constructing a job comparison scale. Diagrams illustrate defining degrees for factors and assigning evaluation points. The goal is to develop a standardized, objective way to determine the relative value of jobs to establish competitive pay plans.
Topic7.1c compensation how_to_createa_market-competitive_payplannew
This document discusses how to create a market-competitive pay plan. It outlines a 5-step process for establishing pay rates: 1) conducting a salary survey, 2) evaluating jobs, 3) grouping similar jobs into pay grades, 4) pricing each pay grade, and 5) fine-tuning pay rates. It also covers topics like competency-based pay, executive compensation, the gender pay gap, and using HRIS systems to automate compensation administration. The overall goal is to develop a pay structure that attracts and retains employees while remaining fiscally responsible.
Topic7.1b compensation job_evaluation_methods new
This document discusses various job evaluation methods including ranking, classification, point method, and factor comparison. It provides examples of how each method works and the general steps involved. Key factors that are evaluated include skills, effort, responsibility, and working conditions. Legal considerations for compensation are also reviewed, such as the Equal Pay Act and other anti-discrimination laws. The overall process of job evaluation is outlined as identifying the need, choosing a committee, performing the evaluation, and getting employee cooperation.
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6.2. evaluating and controlling marketing activities
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Topic7.1c2 compensation how_to_createa_market-competitive_payplannew
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Collective decision making
- 1. Welcome to [ ]Costumer Behavior Topic: Group and Situational Effects on Customer Behavior
- 3. Organizational Buyers Buy From B2B Marketers Decisions become very important due to great responsibility for others Buyer’s perception of purchase situation is affected by expectations of supplier, organizational climate of own company, and buyer’s assessment of own performance Organization’s members share information and develop “organizational memory
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