Buad 332 moon exam 2 - Study guides, Class notes & Summaries

Goal of Customer- Driven marketing strategy - ️️to create VALUE for targeted customers Market Segmentation - ️️Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - ️️- "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make...

Consumer buying behavior - Answer the buying behavior of people who buy goods and services for personal use. these people create the consumer market How do consumers respond to various marketing efforts the company might use? - Answer central question for marketers Simple Model of Consumer Buying Behavior (3 categories) - Answer 1. Marketing and other stimuli 2. Buyer's black box 3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) - Answer Market-p...

Goal of Customer- Driven marketing strategy - Answer- to create VALUE for targeted customers Market Segmentation - Answer- Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - Answer- - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We canno...

Goal of Customer- Driven marketing strategy - Answer to create VALUE for targeted customers Market Segmentation - Answer Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - Answer - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make ...