This document provides an overview of key marketing concepts. It defines marketing as a social process involving the exchange of goods and services to satisfy needs and wants. The core concepts discussed include needs, wants and demand, products and services, customer value, exchange and relationships. It also distinguishes between selling and marketing, and describes the marketing concept orientation which focuses on customer needs rather than production. Key elements of the marketing environment, including internal factors like staff and resources, and micro factors like customers and suppliers, are also summarized.

1. MARKETINGMARKETING
MANAGEMENTMANAGEMENT
ByBy
Kush SaxenaKush Saxena

2. What is Marketing?

4. MarketingMarketing
Marketing is the process of communicating the value of
a product or service to customers for the purpose of
selling the product or service at the level of satisfaction.
It is a critical business function for attracting customers.
Process of marketing is not accidental, it is planned in a
appropriate manner.

5. DEFINITION OF MARKETINGDEFINITION OF MARKETING
“Marketing is a social process by which
individuals and groups obtained what they
need and wants by creating mutually
beneficial exchanges with one another.”

6. CORE CONCEPTS OF MARKETINGCORE CONCEPTS OF MARKETING

7. NEEDS,WANTS AND DEMANDNEEDS,WANTS AND DEMAND
NEEDS-Needs are the basic requirements of any
individual like air, water.
WANTS-If having specific requirement, then needs
turns into wants.
DEMAND- If a persons having enough money to fill
their wants them it turns in demand

8. Products and ServicesProducts and Services
Product:
 Anything that can be offered to a market to satisfy a
need or want.
 The concept of product is not limited to physical
objects – anything capable of satisfying a need can be
called a product.
Services:
 In addition to tangible goods, products also include
services, which are activities or benefits offered for
sale that are essentially intangible and do not result in
the ownership of anything.

9. Values, Satisfaction, and QualityValues, Satisfaction, and Quality
Values:
 Customer value is the difference between the values the
customer gains from owning and using a product and the costs
of obtaining the products.
 Customers often do not judge product value and costs
accurately or objectively. They act on perceived value.
Satisfaction:
 Customer satisfaction depends on a product’s perceived
performance in delivering value relative to a buyer’s expectation.
 If the product’s performance falls short of the customer’s
expectations, the buyer is dissatisfied.
Quality:
 Customer satisfaction is closely linked to quality.
 Quality has a direct impact on product performance.
 Quality can be defined as “freedom from defects”.
 TQM programs designed to constantly improve the quality of
products, services, and marketing processes.

10. Exchange, Transactions, and RelationshipsExchange, Transactions, and Relationships
Exchange :
 The act of obtaining a desired object from someone
by offering something in return
Transaction :
 A trade between two parties that involves at least
two things of value, agreed – upon conditions a time
of agreement, and a place of agreement.
Relationship marketing :
 The process of creating, maintaining, and
enhancing strong, value – laden relationships with
customers and other stakeholders

11. MARKETMARKET

12. 12
Industry
(a collection
of sellers)
Market (a
collection of
buyers)
Products / Services
Money
Information

13. COMPANY ORIENTATION TOWARDS THECOMPANY ORIENTATION TOWARDS THE
MARKETPLACEMARKETPLACE
 PRODUCTION CONCEPT- This concept holds
that consumers will prefer products that are widely
available and inexpensive. Managers of production
oriented business concentrate on achieving high
production, low cost and mass distribution.

14.  PRODUCT CONCEPT- This concept
proposes that consumers favors products that
offer the most quality, innovative features.
Managers in these organizations focus on
superior products and improving over the
time.

15.  SELLING CONCEPT- The selling concept
holds that consumers and businesses, if left
alone, would not buy enough of the
organization’s products.
The main aim of this concept is to sell what
they make, rather than make what the market
wants.

16.  MARKETING CONCEPT-The marketing
concept emerged in mid 1950s.Instead of a
product centered “make & sell” philosophy,
business shifted to a customer centered
“sense & respond” philosophy.
The marketing concept holds that the key to
achieving organizational goals is being more
effective than competitors.

17. Selling Vs MarketingSelling Vs Marketing
1. Selling focuses on
the needs of seller.
2. Selling concept is
profit oriented .
3. Selling is product
oriented.
4. Seeks to quickly
convert products into
cash.
5. Views Business as a
goods producing
process
1. Marketing focuses on the
needs of buyers
2. Marketing concept is
customer satisfaction
oriented.
3. Marketing is customer
oriented.
4. Seeks to convert customer
needs‘ into products
5. Views businesses as a
customer satisfying process.

18. Nature & Scope of Marketing:Nature & Scope of Marketing:
Marketing is an ancient art & is everywhere. Formally
or informally, people & organizations engage in a vast
numbers of activities that could be called marketing.
Good marketing has become an increasingly vital
ingredient for business success. It is embedded in
everything we do- from the clothes we wear, to the
web sites we click on, to the ads we see. Marketing
deals with identifying & meeting human & social
needs or it can be defined as ―meeting needs
profitably .‖

20. 3 MISTAKES WHILE
DEFINING MARKETING

21. What is Marketing?What is Marketing?
Marketing is Selling
No, because
 Selling is part of Marketing
 Marketing starts long before the company has a product or service
 Marketing involves homework to asses needs, measure their extent, and
determine if a profitable opportunity exists
 Selling only occurs only after a product is manufactured or a service is
created
 Marketing continues throughout a product’s life, finding new customers,
improving product appeal and performance, and managing repeat sales

22. What is Marketing?What is Marketing?
Marketing is Advertising
No, because
 Advertising is part of Marketing
 Marketing starts long before the company places and ad
or develops an advertising strategy
 Advertising becomes part of an over-all Marketing Plan
 Advertising only occurs only after a product is
manufactured or a service is created

23. What is Marketing?What is Marketing?
Marketing is Mainly a Department
No, because:
 Yes, companies do have Marketing Departments, but,
 All departments should be at least customer oriented if not
customer driven
 In highly competitive markets, all departments must focus
on winning customer preference

24. CUSTOMER VALUE PROPOSITIONCUSTOMER VALUE PROPOSITION
In marketing, a customer value proposition (CVP) consists of the
sum total of benefits which a vendor promises a customer will
receive in return for the customer's associated payment (or other
value-transfer). A customer value proposition is a business or
marketing statement that describes why a customer should buy
a product or use a service. It is specifically targeted towards
potential customers rather than other constituent groups such as
employees, partners or suppliers. It is a clearly defined
statement that is designed to convince customers that one
particular product or service will add more value or better solve a
problem than others in its competitive set. EXAMPLE
Eg………

26. Marketing EnvironmentMarketing Environment
 All businesses are not alone in the market place.
 There are many factors that influence
businesses
 These factors are called the “ Marketing
Environment”

27. Marketing EnvironmentMarketing Environment
 All businesses are not alone in the market place.
 There are many factors that influence
businesses
 These factors are called the “ Marketing
Environment”

28. Elements of the MarketingElements of the Marketing
EnvironmentEnvironment

29. Internal Marketing Environment
The internal environment is made up of factors within
the firm itself. Examples include employees,
company policy, capital assets, the firm's structure
and the firm's products (materials). These factors can
be controlled by the firm.

30. Staff RelationshipsStaff Relationships
 Relationship among the staff affects the
operations of the organization.
 Management should develop a conducive
environment to develop staff relationships
 Employees should not convey a negative
image of the organization to external sources.

31.  Staff members
 The message that is conveyed by staff to others ( third parties) have
a big impact rather than the paid advertisements of the organisation
 Members of the public consider staff members as the authoritative
and they are far more likely to believe what staff members say
 Therefore an organization must do its internal marketing well to
inform the company’s policies, and obtain the commitment and
loyalty of the staff
 Staff is paid salaries by the organisation and staff should act to
safeguard the organisation’s interest for their own benefit too.

32. Corporate cultureCorporate culture
 Culture is a set of shared values, rules, and
perceptions in a given society.
 It has a powerful influence on the actions and
behaviors of the members of the staff
 It is not an easy task to change the organizations
culture if it is not conducive for an efficient operation

33. Resource ConstraintsResource Constraints
 All organizations operate within a limited
amount of resources
 Men. Material, Money, Machines and
Technology are the limiting resources
 Organization should use systems where they
could get the maximum out of the existing
resources
 The effective and efficient way of adopting
resources is the key to success.

34. Micro Environment
The micro environment is made up of factors that are close to the
firm and affect it on a 'day to day' basis; usually these factors interact
with the firm or are involved in the same industry Micro environment
examples include customers, banks and trade unions as they all
interact with the firm.. Some of the factors within the micro
environment can be controlled whilst other's can not.

35. SuppliersSuppliers
 They could be the suppliers of all the materials and
utilities to the marketer to make its value proposition
( product) to the market – machines and plants, raw
materials, components, stationery, electricity, water,
gas, other services, advertising agencies,
consultancies, etc
 Company cannot survive without suppliers
 Marketers should study about the suppliers capacity,
problems to have a good flow of supplies
 If they increase prices, we have to revise price

36. CustomersCustomers
 Customers are the most important element in the
micro environment
 They can be individuals or organizations
 A persons who makes the decision to buy the product
is called the customer and the person who consumes
the product is called the consumer
 When customer and the consumer are different the
marketer have to consider the needs of both
 Many times customer and the consumer would be the
same.
 Marketer should study the constantly changing needs
of the customer and fine tune his value proposition
accordingly to satisfy/delight the customer.

37. Macro (External) EnvironmentMacro (External) Environment
The macro environment is made up of factors that
affect the firm on a long term basis. In general macro
environment factors are not close to the firm. Micro
environment factors could be national or global
measures and affect many industries and groups.
Macro environment examples include legislation, the
economy (e.g. recession, inflation, VAT changes), and
technological change such as the internet. Macro
environment factors are uncontrollable factors but still
influence company strategy.

38.  Competitors
 Political
 Economic
 Social and cultural
 Technological
Macro Environmental FactorsMacro Environmental Factors

39. Vs

40. CompetitorsCompetitors
 Marketer is not alone in the market.
 Every action of the marketer has a reaction
from the competitors
 Knowing the competitors, their capacity,
ability, future moves, structure and operational
systems, objectives, strategies and tactics,
will provide so much of ammunition to the
marketer to face the challenges in the market
place.
 Simply a SWOT Analysis of Competitors is
needed

41. Political and Legal EnvironmentPolitical and Legal Environment
 Ploitical
 Political stability
 War and Peace
 Internal conflicts and struggles
 Strikes and stoppage of work
 Globalisation and opening up of markets
 Political affiliation and support to governments

42. Non-veg Veg

43. Economic EnvironmentEconomic Environment
 General economic condition of the world and the
country
 Income distribution -
 Employment levels and its structure
 Prices and inflation
 Boom and recession
 Balance of trade – surplus / deficit
 Exchange rate and fluctuation
 Stock market
 Import and export duties
 Saving and investment

44. Social and Cultural EnvironmentSocial and Cultural Environment
 Society consists of large group of people with shared
customs and laws
 Culture consists of art, thought, and customs,
religions, practices of a society at any given time
 Any society will have its own culture. May be unique
or shared or mixed with other cultures.
 Peoples relationships and behavior will have a major
influence of the societies beliefs, values and norms
 There could be different cultural groups within a
society

45. Socio Cultural EnvironmentSocio Cultural Environment
Demographic factors- population structure- age,
family size, ethnicity, income,
Social Cultural behaviors- languages, religious
beliefs, mythology, gender roles, gift giving habits,
Social responsibility and ethics
The impact of war
Role of women in society
Attitudes towards credit
Concern about health

46.  The socio- cultural affect will influence
peoples attitudes towards buying patterns,
living patterns, dress codes, fashion, sports,
savings, social behaviors, music, credit,
marriage, and many areas of life styles.
 Marketers have to be aware of them to
understand the customers and their behavior.
Example

47. TechnologicalTechnological
 Technology is changing always
 Marketers have to be vigilant about it and
adapt to change
 There are so many innovations taking place in
the world.
 Some innovations make products and
processors improve dynamically and some
times they even replaces the old products and
make them obsolete

48. Examples of Technological advancementExamples of Technological advancement
 What happened to typewriters, LP records,
audio and video cassettes, analogue phones
 What happened to standard post with email
and SMS
 What will happened to CDs
 Nano technology is knocking doors

49. DIGITALIZATION

50. Digitalization in MarketingDigitalization in Marketing
 Digital marketing is a marketing process which leads to the
development of any organization or brand by using a variety of
digital channels such as email, social networks etc.
 Digital Marketing can be defined as promoting of brands or
products and services using all forms of digital advertising.
Digital marketing uses Television, Radio, Internet, mobile and
any form of digital media to reach customers in a timely,
relevant, personal and cost-effective manner

51. Apart from using many of the techniques and practices
contained within the category of Internet Marketing, digital
marketing extends beyond this by including other channels
that do not require the use of the Internet. Due to non-
dependence on the Internet, the field of digital marketing
includes a whole lot of elements such as mobile phones or
cell phones, display / banner ads, sms /mms, digital
outdoor, and many more.

53. PRODUCTPRODUCT
Product is anything that can be offered to a
market to satisfy a need & wants of
customers.
Product is a bundle of benefits offered to a
customer.

55.  Core Benefits-The service or benefit the
customer is really buying.
 Basic Product- At the second level, the
marketer must turn core benefits into basic
product.
 Expected Product-At the third level, the
marketer prepares an expected product, a set
of attributes buyers normally expect when
they purchase this product.

56.  Augmented Product- At the fourth level
marketers prepares an augmented product
that exceeds customers expectations.
 Potential Product-Here companies search
for new ways to satisfy customers and
distinguish their offering.

57. WHAT IS PRODUCTWHAT IS PRODUCT
Product is anything that can offered to market toProduct is anything that can offered to market to
satisfy a want or need, including physicalsatisfy a want or need, including physical
goods, services ,experinces,events,persons.goods, services ,experinces,events,persons.

60. Consumer ProductConsumer Product
ClassificationClassification
 Convenience Goods
Inexpensive, frequently purchased.
Little effort needed to purchase them.
Staples, Impulse and emergency goods.

61. Shopping GoodsShopping Goods
Not as frequently as convenience products
Costly
Consumer does research before purchase.

62. Specialty GoodsSpecialty Goods
Unique features
Consumer is prepared to pay a premium
price.

63. Non Durable & Durable GoodsNon Durable & Durable Goods
 Nondurable Goods
Tangible goods consumed in one or few
uses
Purchased frequently
Strategy : availability , low priced , heavily
advertised

64. Durable GoodsDurable Goods
Tangible goods that survive many uses
Require more personal selling and service
Higher margins and requires seller
guarantee

65. Industrial-Goods ClassificationIndustrial-Goods Classification
 Materials and Parts
Raw
Material
sManufactured
materials and
parts
Farm
Products
Natural
Products

66.  Materials and Parts
Raw
Materials
Manufactured
materials and
parts
Farm
Products
Natural
Products

67. PRODUCT MIXPRODUCT MIX
Product mix is the sum total of all products
that a company offers for sale.

70. PRODUCT MIX OF HINDUSTAN UNILEVER

72. PRODUCT
MIX OF
AMUL

74. PRODUCT MIX OF DABURPRODUCT MIX OF DABUR

75. PRODUCT MIX OF P&G

76. PRODUCT MIX OF RECKITT BENCKISER

77. PRODUCT MIX OF ITC

79. 3.Product Life Cycles (PLC)3.Product Life Cycles (PLC)
 The course of a product’s sale and profit over
it lifetime. It involves five distinct
stages:introduction,growth,maturity,and
decline.

80. Sales & Profit Life CyclesSales & Profit Life Cycles
IntroductionIntroduction GrowthGrowth MaturityMaturity DeclineDecline
TimeTime
SalesSales&&profitsprofits($)($)

81.  Introduction-A period of slow sales growth as
the product is introduced in the market. Profits
are nonexistent because of the heavy
expense of product introduction.
 Growth-A period of rapid market acceptance
and profit improvement.
 Maturity-Stable profit.
 Decline-Sales shows a downward drift and
profit erode.

82. STRATEGIES UNDER
DIFFERENT STAGES
OF PRODUCT LIFE
CYCLE(PLC)

83. SalesSales
CostsCosts
ProfitsProfits
Marketing ObjectivesMarketing Objectives
ProductProduct
PricePrice
LowLow
High cost per customerHigh cost per customer
NegativeNegative
Create product awareness and trialCreate product awareness and trial
Offer a basic productOffer a basic product
Use cost-plus formulaUse cost-plus formula
DistributionDistribution Build selective distributionBuild selective distribution
PromotionPromotion Heavy to entice product trialHeavy to entice product trial
Summary of Characteristics, Objectives, & Strategies
Introduction Stage of the PLCIntroduction Stage of the PLC

84. Improve Product quality and add new
features.
It enters in new market
Increases its distribution coverage
Lowers prices
Eg 1
Eg 2
Strategies used under growth stage

85. PRODUCT DEVELOPMENT

86. SalesSales
CostsCosts
ProfitsProfits
Marketing ObjectivesMarketing Objectives
ProductProduct
PricePrice
Rapidly risingRapidly rising
Average cost per customerAverage cost per customer
RisingRising
Maximize market shareMaximize market share
Offer extension, service, warrantyOffer extension, service, warranty
Penetration strategyPenetration strategy
DistributionDistribution Build intensive distributionBuild intensive distribution
PromotionPromotion Reduce to take advantage of demandReduce to take advantage of demand
Summary of Characteristics, Objectives, & Strategies
Growth Stage of the PLCGrowth Stage of the PLC

87. Strategy used under Maturity StageStrategy used under Maturity Stage

88. SalesSales
CostsCosts
ProfitsProfits
Marketing ObjectivesMarketing Objectives
ProductProduct
PricePrice
PeakPeak
Low cost per customerLow cost per customer
HighHigh
Maximize profits while defending market shareMaximize profits while defending market share
Diversify brand and modelsDiversify brand and models
Match or best competitorsMatch or best competitors
DistributionDistribution Build more intensive distributionBuild more intensive distribution
PromotionPromotion Increase to encourage brand switchingIncrease to encourage brand switching
Summary of Characteristics, Objectives, & Strategies
Maturity Stage of the PLCMaturity Stage of the PLC

89. SalesSales
CostsCosts
ProfitsProfits
Marketing ObjectivesMarketing Objectives
ProductProduct
PricePrice
DecliningDeclining
Low cost per customerLow cost per customer
DecliningDeclining
Reduce expenditures and milk the brandReduce expenditures and milk the brand
Phase out weak itemsPhase out weak items
Cut priceCut price
DistributionDistribution Selective: phase out unprofitable outletsSelective: phase out unprofitable outlets
PromotionPromotion Reduce to minimum levelReduce to minimum level
Summary of Characteristics, Objectives, & Strategies
Decline Stage of the PLCDecline Stage of the PLC

92.  The Marketing mix is a set of four decisions which need to be
taken before launching any new product. These variables are
also known as the 4 P’s of marketing. These four variables help
the firm in making strategic decisions necessary for the smooth
running of any product / organization.These variables are
 Product
 Price
 Place
 Promotions

93.  Marketing mix is mainly of two types.
 1) Product marketing Mix – Comprised of Product, price, place
and promotions. This marketing mix is mainly used in case of
Tangible goods.
 2) Service Marketing Mix – The service marketing mix has
three further variables included which are people, physical
evidence and process. .

95. Product
Price
Place
Promotion
People
Physical Appearance
Process
Product
Price
Place
Promotion
People
Physical Appearance
Process

96. Product
To satisfy the needs and wants of the
target market.

97. Place
To make the product conveniently available to
the target market consistent with their
purchasing pattern.

98. Promotions
To build and improve consumer demand.
Promotions has four components called the
Promotions Mix as follows:
•Advertising – to effectively inform and
persuade the target market
•Public Relations – to offer a positive image of
the company and the brand
•Selling – to get the customers buy
•Sales Promotions – to convince customers to
buy immediately

99. Price
To make the product affordable to the
target market and reflect the value of
benefits provided.

100. People
 People – People is one of the elements of service marketing
mix. People define a service. In case of service marketing,
people can make or break an organization. Thus many
companies nowadays are involved into specially getting their
staff trained in interpersonal skills and customer service with a
focus towards customer satisfaction

101. Physical
Appearance Physical Evidence – The last element in the service marketing
mix is a very important element. As said before, services are
intangible in nature. However, to create a better customer
experience tangible elements are also delivered with the service.
Take an example of a restaurant which has only chairs and
tables and good food, or a restaurant which has ambient lighting,
nice music along with good seating arrangement and this also
serves good food. Which one will you prefer? The one with the
nice ambience. That’s physical evidence

102. Process
Service process is the way in which a service is
delivered to the end customer. Lets take the example
of two very good companies – Mcdonalds and Fedex.
Both the companies are known for their quick services
and the reason they can do that is their confidence on
their processes

103. •Product, place and people are considered as the strategic
Ps of marketing mix since they cannot be changed
overnight.
•Promotions, price, process and physical appearance are
considered as the tactical Ps of marketing mix because
these can be changed more easily.

104. •Marketers of consumer packaged goods such as food and personal care
products sold in supermarkets would often add “Merchandising” as another
component of the marketing mix.
•Merchandising aims to extend advertising message at the point of
purchase (POP) by generating superior presence within the store.
•Many companies uses store signs, posters, price tags, shelf takers and
island displays.
•Companies spend a significant 1% of their sales on merchandizing.

107. INTRODUCTIONINTRODUCTION
"Consumer behaviour may be defined as the behaviour that
consumers display in searching for, purchasing suing,
evaluating and disposing of produces, services and ideas
which they expect will satisfy their needs."

108. Characteristics Of Buyer BehaviourCharacteristics Of Buyer Behaviour
 Comprises both mental and physical activity of consumer.
 Buyer behaviour is a integral part of human behaviour
 Buyer behaviour is the process by which individuals decide whether,
what, when, from whom, where and how to buy.
 Buyer behaviour is very dynamic and complex
 In many cases, it is the sum total of the behaviour of a number of
persons
 It is influenced by internal factors such as needs, habit, attitudes etc..
And external factors like family, social group, culture etc…
 Consumer behaviour starts before buying and goes even after buying

109. NEED OR IMPORTANCE OF STUDY OFNEED OR IMPORTANCE OF STUDY OF
CONSUMER BEHAVIOURCONSUMER BEHAVIOUR
 It helps in formulating effective marketing strategy.
 It gives information regarding colour, design, and other
features that a consumer want in his product. Thus it
helps in formulating production policy.
 It is important for framing suitable pricing policies.
 Consumers demand more for quality products at
reasonable prices. Marketers should first study the
needs of consumers and then try to satisfy them.

110. NEED OR IMPORTANCE OF STUDY OFNEED OR IMPORTANCE OF STUDY OF
CONSUMER BEHAVIOURCONSUMER BEHAVIOUR
 Rapid technological advancement compels the
marketers to study consumer behaviour.
 Understanding of consumer behaviour helps avoid or
minimise market failures.
 For effective market segmentation and target marketing,
it is essential to have an understanding of consumer and
their behaviour.

111. Types Of Consumer BuyingTypes Of Consumer Buying
BehaviourBehaviour
 Complex buying behaviour
Eg: cars, homes, computers, education etc.
 Dissonance reducing buying behaviour- Cognitive Dissonance
Eg: Mobile phone
 Variety seeking buying behaviour
Eg: Soap, Detergent, tooth paste etc..
 Habitual buying behaviour
Eg: Salt, Matches, Oil etc..

112. Factors Affecting Consumer BehaviorFactors Affecting Consumer Behavior

113. CULTURAL FACTORSCULTURAL FACTORS
 Culture
 Sub Culture
 Social Class

114. SUBSUB
CULTURECULTURE
 Religion
 Geographical location
 Gender (male/female)

115. SOCIALSOCIAL
CLASSCLASS

116. SOCIAL FACTORSSOCIAL FACTORS
 Reference Groups
 Family Members
 Relatives
 Role in the Society
 Status in the society

117. Table showing a traditional family lifeTable showing a traditional family life
cyclecycle
STAGE CHARACTERISTICS BUYING PATTERN
Bachelorhood Young people not living at
home
Fashionable and recreation
goods
Newly married couples Young couples without
children
Fashionable and leisure
articles, furnishings,
utensils
Next Stage Begins with the birth of the
first child in the family
Child’s clothes, food and
medical expenses
Next Stage Youngest child is at least six
years old
Child’s toys to bicycles and
education of children
Next Stage Teen aged or college going
children
Educational expenses
Next Stage Older married couples
without any dependent
children living with them
Travel or home
improvement
Medical expenses
Next Stage Death of a life partner Special needs for attention,
loving care and security.

118. PERSONAL FACTORSPERSONAL FACTORS
 Occupation
 Age
 Economic Condition
 Lifestyle
 Personality

119. PSYCHOLOGICAL FACTORSPSYCHOLOGICAL FACTORS
 Perception
 Learning
 Beliefs and Attitude
 Motivation

121. Stages Of The Consumer BuyingStages Of The Consumer Buying
ProcessProcess

122. The Buyer DecisionThe Buyer Decision
ProcessProcess
Need Recognition
Need recognition occurs when the
buyer recognizes a problem or need
triggered by:
 Internal stimuli
 External stimuli
5-38

123. 5-39
Information Search
Information search is the amount of
information needed in the buying process
and depends on the strength of the drive, the
amount of information you start with, the
ease of obtaining the information, the value
placed on the additional information, and the
satisfaction from searching

124. 5-40
Information Search
Sources of information:
Personal sources—family and friends
Commercial sources—advertising, Internet
Public sources—mass media, consumer
organizations
Experiential sources—handling, examining,
using the product

125. 5-41
Evaluation of Alternatives
Evaluation of alternatives is how the
consumer processes information to
arrive at brand choices

126. 5-42
Purchase Decision
The purchase decision is the act by
the consumer to buy the most preferred
brand
The purchase decision can be affected
by:
 Attitudes of others
 Unexpected situational factors

127. 5-43
Post-Purchase Decision
The post-purchase decision is the
satisfaction or dissatisfaction the
consumer feels about the purchase
Relationship between:
 Consumer’s expectations
 Product’s perceived performance