This document discusses how marketers analyze consumer and business markets. It covers factors that influence consumer behavior like culture, social class, and lifestyle. It also explains the consumer decision process of need recognition, information search, evaluation, purchase and post-purchase evaluation. For business markets, it describes organizational buying, characteristics of business customers, and how purchasing decisions are made by buying centers.

1. Marketing Management MBA CP 205

2. Classification and Analysis of Markets

4. Factors influencing Consumer Behavior Classification and Analysis of Markets Cultural Factors Social Factors Personal Factors

5. Culture “ Culture is the distinct way of life of a group of people and their complete design for living.” “ Culture refers to a set of values, ideas, artifacts and other meaningful symbols that help individuals communicate, interpret, and evaluate as members of society.” Classification and Analysis of Markets

6. Sub-Cultures Nationalities Religions Regional groups Geographic regions Classification and Analysis of Markets

7. Social Classes Classification and Analysis of Markets Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers

9. Reference Groups Statuses Social Roles Family Social Factors Classification and Analysis of Markets

10. Reference Groups Membership groups Primary groups Secondary groups Aspirational groups Dissociative groups Classification and Analysis of Markets

11. Personal factors Classification and Analysis of Markets Personality Wealth Self concept Occupation Lifecycle stage Lifestyle Values Age

13. Brand Personality Classification and Analysis of Markets Sincerity Excitement Competence Sophistication Ruggedness

14. Model of Consumer behavior Marketing Stimuli Product Price Place Promotion Other Stimuli Economic Technological Political Cultural Consumers’ Characteristics Cultural Social Personal Buyer’s decision process Problem recognition Information search Evaluation of Alternatives Purchase decision Post purchase evaluation Buyer’s decisions Product choice Brand choice Dealer choice Purchase timing Purchase amount Classification and Analysis of Markets Consumers Psychology Motivation Perception Learning Memory

16. Stages of Consumer Decision Process Model Need Recognition or Problem solving Search for Information Pre-Purchase Evaluation of alternatives Purchase Consumption Post-Consumption Evaluation Divestment Classification and Analysis of Markets

21. Business Buying Behavior Classification and Analysis of Markets

22. Organizational Buying It is the decision making process by which formal organizations establish the need for purchased products and services and identify, evaluate and chose among alternative brands and suppliers. Classification and Analysis of Markets

24. Buying Situations Straight Rebuy Modified Rebuy New Tasks Classification and Analysis of Markets

25. Systems Buying and Selling Classification and Analysis of Markets Turnkey solution desired; Bids solicited Prime Contractors Second-tier Contractors System subcomponents assembled

26. The Buying centre Initiators Users Influencers Deciders Approvers Buyers Gatekeepers Classification and Analysis of Markets

28. Sales Strategies Classification and Analysis of Markets Small Sellers Large Sellers Key Buying Influencers Multilevel In-depth Selling

29. Types of Business Customers Price- oriented Strategic- value Gold- standard Solution- oriented Classification and Analysis of Markets

30. Handling Price-Oriented Customers Limit Quantity Purchased Allow no refunds Make no adjustments Provide no services Classification and Analysis of Markets

31. Purchasing Orientations Buying Procurement Supply Chain Management Classification and Analysis of Markets

32. Product Related Purchasing Processes (Value/risk) Routine Products Leverage Products Strategic Products Bottleneck Products Classification and Analysis of Markets

33. Buy Grid Framework Classification and Analysis of Markets