These are important revision summary notes to be studied in conjunction with the other study materials. This will save you much needed time in your studies which you can allocate to other modules. These are the kind of revision materials that helps you finish your degree quicker. It worked for me a...
Cust
omert
ypes Rol
es
Act
ivi
ti
es
Cust
omer
s Users
Mental Sel
ector
s
Busi
nesses Physi
cal Payer
s
Typesofcustomer s
Business:tomanufact
ureot
herproduct
s,t
oresel
ltoot
herorgani
sati
onsori
ndi
vidual
s,t
oconduct
operati
ons
Consumer :al
l-
encompassi
ngter
mt omeananyenduser ,
customer,
cli
ent
Rol
esofcustomer s:
Select
or:parti
cipat
esinprocurementfrom themar ketpl
ace
Payer:fi
nancesorpaysf orpurchase
User:actuall
yconsumest heproduct,
receivest hebenefi
tofpr
oductorservi
ce
Onepersoncanbeone, t
wo,orallt
hreeforapr oduct.Theremaybeconfli
ctsbetweenrol
es,
e.g.your
par
entsbuyyouasmal lcarbutyouwant edaspor t
scar .
Activities
Physi cal :act i
onst akensuchasvi si
tingt hest or e,discussingpr oductwi thsal esper son,compar ing
product sandbuyi ng.
Ment al :assesshowwel lthepr oductwi llsatisf yneeds, exper i
encewi tht hepr oduct , andknowl edgeof
dif
ferentbr ands, opinionsorvi ews.
Individualf act orst hati nfluencedeci sion- making
Mot i
vat i
on:t heneeds, want s,dr i
vesanddesi resofani ndividualthatleadt hem t othepur chaseof
product sori deas.
Percept i
on:i ndi vi
dualbecomesawar eoft heenvi ronmentandi nt
erpretsitt oint heirf r
ameofr eference.
Learni ngabi li
ty:consumer sacqui r
epur chaseandconsumpt ionknowl edge, experiencewhi chtheyapply
tofutur e-relatedbehavi our .
Atti
tude:l earnedpr edisposi ti
ont obehavei naconsi stentlyfavour ableorunf avour abl ewayt owards
objects, event sorsi tuat i
ons.
Personal it
y:psychol ogi cal char acteristi
cst hatdet ermi neandr efl
ecthowt heyr espondt otheir
environment .
Lif
est yle:wayofl i
ving.
Gr oupf actorst hati nfl
uencedeci sion-maki ng:
Fami ly:nucl earandext endedf ami l
y.
Culture:i nstitut i
onal i
sedwaysofappr opriatebehavi our .Distincti
vepat ternsofbehavi ourofagr oupof
people, i
ncludi ngbel i
ef s,nor ms, valuesandpr emi ses.
Socialcl ass:gr oupwhi chenj oysmor eorl esst hesamepr estigeandst at usi nsoci ety.
Referencegr oups:ar eusedasabasi sofcompar isonorpoi ntofr eferencewhenf ormul ati
ngresponses.
Opinionl eader s:oneper sonper formingt hef unct ionofar ef erencegr oup.
Importanceofcust omerbehavi our
Customersat i
sfactionandcust omerretenti
on
Iti
smor ecostlytor ecruitnewcust omersthant okeepoldones.Or gani
sat
ionsmustmeetorexceed
customer s’expectationsofser vice,qual
it
y,pri
ceanddel iver
y.
Marketingconcept
Marketingact i
viti
esar einfluencedbyf ourcompet i
ngorientat
ions:
Pr oductionor i
entation:f ocusedont hei
nt er
nalcapabili
ti
esofthebusinessr
athert
handesi
resand
needsoft hemar ketplace.Whatcanwedobest ?
, Sal esor ientation:useofaggr essivesal estechniques,withhighsalescreati
nghighprofit
s.
Mar keti
ngor ientati
on:focusonwhatcoul dbesol d,i
.e.theneedsoft hebuyers.Thi
sledtot he
puremar ketingconcept :
●Consumeror ientati
on:allmar keti
ngact sshoul dbeai medatsat i
sfyi
ngconsumerneeds,
demandsandpr eferences.
●Profitorientation:achievingpr of
itabil
it
yisessent ial
,maximisi
ngpr ofi
tsisthepri
mar y
objecti
ve.
●Organisat ionalintegrati
on:theor ganisationisseenassyst em ofunitsthatworktogetherto
achieveaj ointobj ecti
ve.
Soci et
alor i
ent ati
on:askswhet herthepur emar keti
ngconceptisadequat ewhi l
efaci
ngpr oblems
ofenvi r
onment aldamage, r
esourceshor t
ages, populati
ongrowth,etc.Isi
twhati sbesti
nt helong
run?
Cust omerf ocus
Organi
sat i
onst hatf ocusont heneedsoft hecust omerensur ethatt
heneedsofsoci etyareservedbet t
er.
Thisi
sessent ialforl ong-term survival.
Appli
cat
ionofknowledgeofcust omerbehaviour:
Market
ingstr
ategy
Basedonexpli
citori
mpl i
citbeli
efsaboutcustomerbehaviour.St
rat
egiesbasedonresearchandsound
theor
ywillbemoresuccessful.Themar ket
ingstr
ategyprocessconsistsoff
ouri
ter
ativeprocesses:
Socialmar keti
ng
Satisfywant s,needsandi nterest
soft argetmar ketsi
nsuchawayt hatitpr eser
vesorenhancesthelong-
term well
-beingofconsumer sandsoci et
y.( Behavi
ourchangecampai gns, promotingsoci
ali
ssues,
donat i
ngrevenuet oacause, providi
ngvol unteers)
Bett
er -
informedi ndividual
s
Iti
si mportantt hatcustomer sunder standt hestrat
egi
esandt act
icsthatcompani esareusi
ngtoinf
luence
them inorderf orthem tomakepr operlyinformeddecisi
onsaboutwhatt heybuy.
RoleofCust omerBehavi ouri nMar ket
ingSt rategy
Customerval ue:thedi ff
er encebet weenal lthebenefit
sderivedfrom apr oductandal lthecostsof
acquir
ingthosebenef i
ts.
Marketingstrategywor ksi nt hef oll
owingway:
1.Mar ketAnal ysis:det ail
edanal ysisoft heorganisati
on’scapabili
ties,strengt hsandweaknessesof
thecompet it
ors,theeconomi candt echnol
ogicalforcesaffect
ingt hemar ketandt hecurrentand
potentialcustomer si nt hemar ket.
a.Cust omer s:e. g.cust omerval ueanalysis-theuseofacust omeri nf or mati
ondat abaset o
enabl etheor gani sationt oprojectthefuturebehaviourofcust omer sont hebasisoft heir
pur chasehi stories.
b.Or ganisation:under standingofcapabi li
ti
es,e.g.fi
nances,manager ialskil
ls,
pr oducti
on
capabi l
iti
es
c.Compet it
or s:under standt hecompet itor
s’capabili
ti
esandst rategies, aswellasi t
understandsi t
self.
d.Envi ronment :var i
abl eswhi chmaybei nfl
uenced, butnotcont roll
ed, bytheor gani
sation.
Thesear ethecondi tionsunderwhi chthest r
ategywi l
lbeimpl ement ed.
, 2.Mar ketSegment ati
on:basedonmar ketanal ysis,t
heor gani
sati
oni denti
fi
eshomogenousgr oups
orsegment sonwhi cht of ocus.Thesegment saredescr i
bedintermsofdemogr aphi
c,
psychogr aphicandgeogr aphi caspects.Cust omersi nthesegmenthavesi mi l
arneedsandwants.
Asegmentmustbel ar
geenought obepr of i
tableforacompanyt otargetit
.
a.Benef its
i
. For cesf ocusoncust omerneeds
ii
. I dentif
icat i
onofnewmar keti
ngoppor t
unitiesf rom research
i
ii
. Gui delinesf ordevel opmentofsepar atemar ketof f
er i
ngs
i
v. Faci li
tateappr opr i
ateallocationofmar keti
ngr esources
b.Di sadvant ages
i
. Devel opmentofsepar atemodel sandmar ketof fer
ingsi sexpensive
ii
. Li mitedmar ketcover agei sachieved
i
ii
. Excessi vedi f
ferenti
at i
onmayl eadt oapr oliferati
onofmodel s,andcanni bal
isati
on
c.Cr it
eriaforef f
ectivesegment ati
on
i
. Measur ableinter msofsi ze,buyingpower , potenti
alpr ofi
t
ii
. Lar geenought obewor thexpl oi
tingwi thtailoredoffers
i
ii
. Accessi bletomar keters
i
v. Act ionabl ee.g.fundst ocr eatesepar atemar ketofferi
ngs
v. Di ff
erent iableintermsofneeds, demandsanddesi res,easytodistinguishbetween
3.Mar keti
ngSt rategy:ai medatpenet ratingt hesel ectedsegment (s).Thest rategyi sf ormedi nterms
ofthemar ketingmi x, whichi nvol vescombi ningpr oductf eatures;pr icest obechar ged, promotion
ofthepr oductandmaki ngi tavai lablei nthepl acecust omer swanti t.Thi scombi nationi sthetotal
product.
a.Product :mar ketersmustbal ancet hebenef itsofcust omi sationagai nstawi der angeof
productopt ions-i ncl udesqual ity, styling,speci aldesignf eatures, packagi ng, rangeofsi zesor
options,war ranties.
b.Promot i
on:t her earesevenf ormsofmar keti
ngcommuni cation( adver ti
sing, personal
selli
ng,publicr elations, salespr omot ion,sponsor ships, directmar ket i
ng, publ i
city)
.Themar keti
ng
communi cationst r ategyneedst oanswer :
Wi
thwhom dowewantt ocommuni cate?
Whatef
fectdowewantourcommuni cat iont ohaveont het argetaudi ence?
Whatmessageshoul dweconveyt ot het argetmar ket ?
Whatmeansandmedi ashoul dweuset or eacht het ar getaudi ence?
Whenshoul dwecommuni cat ewi t
ht het ar getaudi ence?
c.Price:cust omer scanbuyowner shi porl imitedusager ights( rent).Lowerpr icesdonot
alwaysequalmor esal es.Pricecanbeseenasameasur eofqual it
y.Companyneedst o
under st
andt hesymbol i
crolet hatpr iceplaysf orthepr oductandt argetmar ket.
d.Place:di stributi
on’ srol eist ogett hepr oductt oi t
st argetmar ket.Cust omer swi llonl
y
rarelygooutoft heirwayt oobt ainapar ti
cul arbr and.St rategieshavet obedevel oped, suchas
met hodsandr outest ogett hepr oductt othel ocat i
on.
Out
comesofcust omerbehavi our
Organisationaloutcome
Productpositi
oning-Thewayi nwhi cht hecustomer sdef inet hepr oduct’si
mportant
attr
ibutes.
Sales-Producet herevenuenecessar yf ortheorganisationt ost ayi nbusiness.
Customersat i
sfacti
on-Keepi ngexisti
ngcust omer sbecauset heyar esat i
sfi
edwitht
he
products.
Indi
vidualout comes
Needsat i
sfacti
on-act ualandperceivedneedf ulfi
lment .Of ten, f
ulfi
lli
ngoneneedaf f
ect
s
thei
rabi l
it
yt oful
fi
lothersbecauseoff inancialandt i
meconst r
ai nts,e.g.gambl i
ng.
Societaloutcomes
Economi coutcomes-Cumul ati
veimpactofbuyi ngdeci sions, incl.decisi
on
Physicalenvir
onment-Pol lut
ion,availabil
it
yofscar ceresour ces.
, Over
allmodelofcust
omerbehavi
our
:pg28-
30
Ext
ernali
nfl
uences Ext
ernali
nfl
uences
Cul ture Cl imate
Subcul ture Economy
Ref erencegroups Gover nme
Soci alclass nt
Fami l
y Technol og
Mar ket
ingacti
vit
ies
Deci
sionmaki ng
I ndi
vidual
Or ganisat
ion
CUSTOMERS al
I
nter
nali
nfl
uences Fami ly
Per cepti
on
Lear ning
Mot ivati
on
Li f
estyle Personal
At ti
tudes charact
eri
sti
cs
Per sonali
ty Race
Sel f
- Age
concept Gender
St
udyUni
t2:Cr
eat
ingMar
ket
ingVal
uef
orConsumer
s
Value:t
hebeli
efst
hatacommunit
ysharesandt
hatpr
ovi
desgui
del
inesf
orhowcommuni
tymember
s
shouldthi
nk,
actandfeeli
nagi
vensi
tuati
on.
Themar ketvalueofP&S
Mar ketvalue:thepot ent i
alofapr oductorservicetosol vetheconsumer ’
swant sandneeds.Consi st
sof:
Universalvalue:satisfiesthebasi cneedsoft hecust omer ,
thebot tom l
inevaluesthateverycustomer
expect sfr
om thepr oductorser vi
ce,e.g.aproductwhi chsat i
sfi
eshunger,thir
st,andsafet
y.
Personalval ue:mor edi verse,var
ybet weencust omer s.Sat isfi
esthewant softhecustomer ,
whichar eof
amor epersonalnatur e.Per sonalval
uesmaybegr oup- speci f
ic(t
argetmar ket
)orindi
vidualspecif
ic(one-
on-onesel l
ing),e.
g.apr oductwhichsat isf
iestheneedsofl oveandr espect.
Uni
versalval
ues
A:t
osati
sfybasic
MARKET
Per
sonalval
ues
VALUE
A:t
osati
sfywant
s
Group Indivi
dua
speci
fi
c: l
ai
medat specifi
c:
agroup aimeda
ofpeopl
e single
person
Themat
ri
xofval
uesandcust
omerr
oles:
User Payer Buyer
Uni
ver
salval
ues Perf
ormancevalue:whatt
he Pri
cevalue:ut
il
it
ythatcanbe Servicevalue:measur ed
p/scandofortheuser.E.
g. obtai
ned,i
sitaff
ordabl
e? accor di
ngt opr
e-purchase&
foodgi
vesnutr
iti
on post-purchaseadviceand
assistance.
PV:Gr
oup Socialval
ue:i
nlinewi t
h Credi
tval
ue:cust
omerpays Conveni encevalue:savi
ngsi
n
normsandst andardsofpeer bycredi
t,del
aysf
ullpayment
. ter
msofi nvest
ingtimeand
grouporfri
ends.E.g.cell eff
or t
.E.g.open15hr saday.
phone
PV:I
ndi
vidual Emot i
onalval
ue:through Fi
nancingval
ue:ter
msof Personalisat
ionvalue:creat
ed
experi
enti
alconsumpt i
on.E.
g. paymentareoff
ered.E.
g.hi
re bymeansofcust omi sati
on
MercedesBenz purchaseorl
ay-
bye. andinterpersonalr
elations.
E.g.personalbanker.
Organi
sat
ion’
sperspectiveofmeasur i
ngvalue:
Thebestwaytodetermi neaccurat
elywhetherval
uehasbeenaddedfort
hecustomeristoquanti
fyiti
n
theval
uemetri
cspr ocess:
1.Determinetheexpect edval
ue:themostbasicwayisbycreat
ingaconsumersati
sfact
ionindex
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ivann. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.71. You're not tied to anything after your purchase.
