Download to read offline
More Related Content
Similar to Marketing Management – Module II
Marketing Management – Module II
- 1.
- 2. Consumer Behavior It isthe study of how individuals make decisions to spend their available resources (time, money, effort) on consumption related items. It includes the study of- -What they buy -Why they buy it -When they buy it -Where they buy it from -How often they buy it -How often they use it
- 3. Buying Process ◦Need recognition ◦Informationsearch ◦Evaluation of alternatives ◦Purchase decision ◦Post purchase behavior
- 4. use Information and Experience PrePurchase Expectation Performance Satisfied +ve WOM Repurchase Intention Dissatisfied Complainer •Dealer •Court •Manufacturer Non-Complainer • -ve WOM •Brand Switching Satisfaction is found Dissatisfied • -ve WOM •Brand Switch Decrease of sale and reduction in market share Increase in Sale And Market share
- 5.
- 6. Factors Influencing BuyingBehavior 1. Cultural Factors i. Culture ii. Sub culture iii. Social class 2. Social Factors i. Family ii. Reference groups 3. Personal Factors i. Age and life cycle stage ii. Occupation iii. Economic circumstances 4. Psychological Factors i. Motivation. ii. Personality iv. Learning. v. Beliefs and attitudes
- 7. Maslow’s Need HierarchyTheory Physiological needs Safety needs Social needs Esteem needs Self- actualization needs Lower-order needs Higher-order needs
- 8. Types of BuyingBehavior High InvolvementHigh Involvement SignificantSignificant differencesdifferences b/w brandsb/w brands ComplexbuyingComplexbuying behaviorbehavior Low InvolvementLow Involvement FewFew differencesdifferences b/w brandsb/w brands DissonancebuyingDissonancebuying behaviorbehavior Variety seekingbuyingVariety seekingbuying behaviorbehavior Habitual buyingHabitual buying behaviorbehavior
- 9. Consumption pattern Consumption patternspeaks of a consumer spending of a consumer on various products & services that he/she thinks matching to his/her life-style
- 10. Change in Consumption pattern RisingIncome Rising expectations of quality of life Fast changing technology Change in philosophy of life Mobility of people over globe
- 11. Market Segmentation Market segmentationis the process by which the total heterogeneous market for a product is divided into several sub – markets or segments. Each segment is homogeneous in all major aspects and its different from the other. The homogenous groups are called segments.
- 12. Market Segmentation basesand selected variables Segmentation base variables Selected Segmentation Geographic Segmentation Region North, South, East, West City size Major metropolitan areas, small cities, towns Density of area Urban, suburban, (semi urban) rural Climate Hot, Cold, warm
- 13. Demographic Segmentation Age Under11, 12-17, 18-34 and so on Sex Male, Female Marital Status Single, married, divorced, living together, widowed Family size Up to 2 children, 3 to 4 children, 5 & above Income Under RS.10,000, Rs. 20,000, Rs. 30,000 and so on Education Illiterate, able to read and write, high school, graduate, post graduate or illiterate, semiliterate, literate
- 14. Occupation Professional, bluecollar, white collar, agricultu Race Brahmin, Bania, Kayastha, Rajput, Bhumihar Language Hindi, Tamil, Telugu, Punjabi etc Psychological/ Psychographic Segmentation Needs- motivation Shelter, safety, security, affection Personality Extrovert, introvert, aggressive, complaints Attitudes Positive attitude, negative attitude
- 15. Socio-cultural Segmentation Culture Indian,Chinese, Japanese, English Religion Hindu, Muslim, Christian Social Class Lower, middle, upper Family lifestyle Bachelors, young married Use related Segmentation buyer behavior Usage rate Heavy users, medium users, light users, nonus Awareness status Unaware, aware, interested to try (enthusiastic), regular buyer Brand loyalty None, some, strong
- 16. Use situational segmentation TimeLeisure, work, rush, morning, night Objective Personal use, gift, fun, achievement Location Home, work, friend’s home, in- store Person Self, friends, boss Benefit segmentation Convenience, prestige, economy, value for the money
- 17. Targeting After segmenting themarket, the next task for marketers is to select one or more segments that can be targeted. The criteria which help marketers to choose their target market are: ◦ Measurable ◦ Substantial ◦ Accessible ◦ Differentiable ◦ Actionable
- 18. Targeting Strategies Concentration Strategy SelectiveSegmentation Strategy Product Specialization Strategy Market Specialization Strategy Full Market Coverage ◦ Differentiated ◦ Undifferentiated
- 19. Positioning The act ofdesigning the company’s offering and image to occupy a distinctive place in the consumer’s mind is called positioning ◦Difference from competitors ◦USP ◦Positioning Statement
- 20. New Product Development Process IdeaGeneration Idea Screening Concept Development & Testing Marketing Strategy Development Business Analysis Product Development Test Marketing Commercialization
- 21.
- 22. Adopter Categories Innovators Early Adopters EarlyMajority Late Majority Laggards
- 23.
- 24. PLC Characteristics IntroductionGrowth Maturity Decline Sales Low Rapidly Rising Peak Declining Cost Per Customer High Average Low Low Profits Negative Rising High Declining Customers Innovators Early Adopters Middle Majority Laggards Competitors Few Growing Stable Declining Marketing Objective Create Awareness Maximize Market Share Maximize Profit Reduce Expenditure
- 25. PLC Strategies IntroductionGrowth Maturity Decline Product Basic Product Product Extension Diversify Products Phase Out Price Cost Plus profit Price to penetrate Match Competitors Cut price Place / Distribution Selective Intensive More Intensive Selective Promotion Awareness among early adopters Awareness among mass market Differences Retain Loyal
- 26. Presented by Dr. DharmeshMotwani. Visit us online at www.TheStockker.com