BMAL 590 – Marketing Questions And
Answers
Context includes the macro-environment: the economy, legal constraints, cultural
differences, and global segments
Marketer's Responsibilities Create a product that customers need or want, price the
product appropriately, promote it via advertisin...
Context includes the macro-environment: the economy, legal constraints, cultural
differences, and global segments
Marketer's Responsibilities Create a product that customers need or want, price the
product appropriately, promote it via advertising and sales promotion to help customers
understand the product's benefits and value and make the product available for purchase in
accessible places
B2C business to consumer
B2B business to business
Consumer buying People buying something for themselves or their household
Business customer An agent buying something on behalf of an organization
, BMAL 590 – Marketing Questions And
Answers
Low Customer Involvement Customers don't care and won't spend time thinking about
brands. They will typically be somewhat price sensitive.
Moderate Customer Involvement Some effort is expended prior to purchase to obtain
good value.
High Customer Involvement For expensive purchases, brand, uniqueness and quality
matter.
Lexicographic method A customer compares brands by most important attributes or
dimensions. The brand that satisfies the first dimension goes into the customer's consideration set
Average method Method uses averages so one attribute can't make or break a brand. One
brand can have one strong attribute but be average for another. The brand will still dominate a
brand with all average attributes.
Use attribute importance Models can be made more complex by bringing in weights to
express how important the attributes are to the customer.
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