Consumer marketing features and importance

1. CONSUMER MARKETING FEATURES
AND IMPORTANCE
BY
SMART LEARNING WAY

2. CONTENTS
Important
Features
Review of the topic
Conclusion
Bibliography

3. CONSUMER MARKETING
IMPORTANT

4. In today’s business environment,
consumers have a strong voice in
shaping products and services being
offered in the market. A far cry from
the Industrial and post-industrial era,
where products and services were
offered based on what
the manufacturers
believe they could sell and not
entirely on what customers needed.

5. Consumers market research is a
most important tool for brand
direction setting and
on strategic marketing planning.
Consumer market research
captures what consumers like or
dislike about certain brands. It
reveals consumers’ perceptions
toward a product or service
category. .

6. Marketers today do not stop
at just documenting evidence
of what they already know
but dig deeper and use
consumer research to dredge
more consumer insights that
can be the basis of a new
marketing campaign.

7. The only way to sustain growth and
ride higher with competitors is to
remain knowledgeable about the
consumers market, which can only be
best served through sustained
consumermarket research.

8. Common features of consumer behavior
1. Other people's behavior matters
2. Habits are important
3. People are motivated to 'do the right thing'
4. People's self-expectations influence how
they behave
5. People are loss-averse
6. People are bad at computation
7. People need to feel involved and effective
to make a change

9. Other people’s behaviour
matters: people do many
things by observing others
and copying; people are
encouraged to continue to
do things when they feel
other people approve of
their behaviour.

10. Habits are important: people do
many things without consciously
thinking about them. These
habits are hard to change – even
though people might want to
change their behaviour, it is not
easy for them.

11. People are motivated to ‘do the right
thing’:
There are cases where money is de-motivating
as it undermines people’s
intrinsic motivation, for example, you
would quickly stop inviting friends to
dinner if they insisted on paying you.

12. People’s self-expectations
influence how they behave:
They want their actions to be
in line with their values and
their commitments.

13. People are loss-averse
and hang
on to what they
consider ‘theirs’.

14. People are bad at computation
when making decisions:
They put undue weight on
recent events and too little on
far-off ones; they cannot
calculate probabilities well and
worry too much about unlikely
events; and they are strongly
influenced by how the
problem/information is
presented to them.

15. People need to feel involved
and effective to make a
change:
Just giving people the
incentives and information is
not necessarily enough.

16. CONCLUSION
• THE term ‘Marketing’ is used as a process of
selling Product. In the first sense, Marketing is
interpreted as a process of understand
consumer behavior and supply there
requirement. It is also use full for motivated
consumer for purchasing some new product.

17. REVIEW OF THE TOPIC
1. Why study consumer marketing ?
2. Important
3. Features

18. BIBLIOGRAFY
 CONSUMER BEHAVIOR:
John C. Mowen &
Michael S. Minor
 Marketing Management
Philips Kotler
 Consumer Behaviour : A European Perspective
Antonides, G. and Raaij, W.F. van.