Chap08 (1)

An activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings with value for customers, clients, partners, and society at large.

User status, usage rate, and loyalty status.

The classification of consumers based on their usage of the product.

Problem recognition.

Postpurchase conflict.

Dividing the total market into groups with similar characteristics.

A marketing strategy that divides consumers based on the benefits they seek from a product.

Open communication.

It enables more personalized marketing efforts and better customer relationships.

Search for information.

Developing products and promotions to please large groups of people.

It aims to identify distinct groups within a market to tailor marketing strategies effectively.

Identifying small but profitable market segments and designing or finding products for them.

To reach smaller market segments effectively.

It emphasizes customer retention and satisfaction over just acquiring new customers.

Consumers will favor products that offer the most quality, performance, or innovative features.

To identify distinct groups of consumers for targeted marketing.

Building long-term relationships with customers rather than just targeting large groups.

Postpurchase evaluation.

By developing a marketing strategy that maintains and improves customer and societal well-being better than competitors.

It provides shared values and norms that guide purchasing behavior.

Helping buyers buy.

Reaching smaller market segments.

It is the stage where the consumer evaluates alternative brands in the choice set using information.

Building long-term relationships with customers.

The buyer's decision about which brand to purchase.

It invites further inquiry or clarification.

A good, service, or idea that satisfies a consumer’s want or need.

B2B markets involve transactions between businesses, while consumer markets involve transactions with individual consumers.

The process of promoting, selling, and distributing a product or service.

To understand how they actually evaluate brand alternatives.

Consumer markets focus on individual buyers, while business markets focus on organizations purchasing for operational use.

One-to-one marketing focuses on individual customers, while mass marketing targets a broad audience.

The attitudes of others.

Unexpected situational factors.

It allows businesses to target specific groups effectively, improving marketing efficiency and customer satisfaction.

Information search.

It shapes preferences and informs choices based on past experiences.

Factors such as social, cultural, and economic influences.

The idea of mass production.

The progression and changes in marketing strategies and practices over time.

Cognitive dissonance, or discomfort caused by postpurchase conflict.

Normal needs like hunger or thirst that rise to a drive.

Increased customer loyalty and repeat business.

Products are often sold and resold several times before reaching final consumers.

One-to-one marketing focuses on personalized interactions, while mass marketing targets a broad audience.

Relationship marketing focuses on individual customer needs and preferences, while mass marketing targets broad audiences.

Sales are direct.

Selecting which segments an organization can serve profitably.

Need recognition.

A buyer recognizes a problem or need.

Consistently reliable service.

Techniques used by marketers to divide a broad target market into subsets of consumers with common needs or characteristics.

External stimuli.

They legitimize or evaluate products for the buyer.

Demographics, psychographics, geographic location, or behavior.

Emphasizing social responsibilities and providing value to customers and society.

Dividing the market based on location, such as countries, regions, cities, or neighborhoods.

All individuals or households that want goods and services for personal use and have the resources to buy them.

It could refer to a quantity, a code, or a specific reference, but more context is needed.

It indicates gratitude or acknowledgment.

Personal sources.

The attitudes of others and unexpected situational factors.

There are relatively few customers.

Making superior products and improving them over time.

To persuade consumers through selling and advertising.

Demographic, geographic, psychographic, and behavioral factors.

Purchase decision.

Dividing the market by the volume of product use.

Custom-made goods and services for customers.

A marketing strategy that focuses on individual customer needs and preferences.

The frequency or amount of product consumed by users.

A characteristic used to divide a market into distinct groups.

Customers tend to be large buyers.

Information search.

They influence attitudes and behaviors through social interaction.

Marketing is the process of promoting, selling, and distributing a product or service.

The stage of the buyer decision process where consumers take further action after purchase, based on satisfaction or dissatisfaction.

Business-to-Business.

The specific advantages or benefits that consumers expect from a product.

Social class, lifestyle, and personality traits.

It allows businesses to tailor their offerings to individual customers, enhancing customer satisfaction and loyalty.

To target specific groups of consumers effectively.

Markets are geographically concentrated.

A word, letter, or a group of words or letters that differentiates one seller’s goods from a competitor’s.

Purchase decision.

It divides the market into different geographical units such as nations, regions, states, counties, or cities.

Dividing the market according to product benefits that the customer prefers.

Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.

It helps marketers tailor products and marketing strategies to meet specific consumer needs.

More production and less expensive distribution and storage.

They normally inform the buyer.

Evaluating alternatives.

Purchase decision.

Problem recognition.

Segmenting the market based on lifestyle, values, interests, and personality traits.

Income levels, economic conditions, and consumer confidence.

Developing a unique mix of goods and services for each individual consumer.

Decide which groups they want to serve.

A marketing strategy that focuses on individual customer needs and preferences.

It allows businesses to tailor their offerings to meet specific needs, increasing customer satisfaction and loyalty.

Dividing buyers into groups based on social class, lifestyle, or personality traits.

To effectively reach and engage smaller, specific market segments.

It helps maintain and strengthen the relationship.

Personalized communication, customer feedback, and loyalty programs.

Customer orientation, service orientation, and profit orientation.

Promotions focus heavily on personal selling.

Through peer pressure, family opinions, and social media.

A market consists of people with unsatisfied wants and needs who have the resources and willingness to buy.

It is the stage where the consumer is motivated to search for more information.

From commercial sources controlled by the marketer.

Niche marketing focuses on specific, smaller segments rather than a broad audience.

Manufacturers, wholesalers, retailers, hospitals, schools, charities, and government.

The degree of commitment a consumer has towards a brand or product.

Costs of producing, distributing, and promoting the product.

Advertising, personal selling, public relations, publicity, word of mouth, and various sales promotion efforts.

Problem recognition.

Evaluation of alternatives.

It shapes values, beliefs, and behaviors that influence purchasing decisions.

By identifying different consumer groups based on their desired benefits and creating targeted marketing campaigns.

Trust, honesty, and ethical behavior.

By demonstrating genuine concern for customers.

To create customer loyalty and repeat business.

Learning, reference groups, culture, and subcultures.

Post-purchase evaluation.

It helps businesses understand customer needs and improve their offerings.

Getting the product to consumers when and where they want is critical to market success.

Dividing the market based on variables such as age, gender, income, education, and family size.

Groups within a larger culture that have distinct values and behaviors.

The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics.

Buyers are more rational than emotional.

Evaluation of alternatives.

Post-purchase evaluation.

Segmenting consumers based on their knowledge, attitudes, uses, or responses to a product.