mkt exam 2

Chapter 5

Buyer behavior process 

Objectives: Buyer behavior process needs to be understood, including how to use it and the variations that can occur

Process of the different decisions - 

Toilet paper was bought alot during covid because everyone knew that they were going to stuck at home and that was the consumer behavior that changed

Consumption exercises were important because they needed to know how long it would take for consumers to buy the product and how long it would take for the supplies to replenish the product

The process goes as follows - 

Need recognition - Recognizing they have a need for that product

Information Search - consumer searches for that information

Evaluation of Alternatives - Consumer looks at other options then weighs the pros and cons of them

Purchase -  Consumer decides to purchase the product

Reaction. Consumer has used the product and is please or displeased with it.

Consumption - Using a good or service to fulfill a need

Need recognition - what you need such as food and drink then moving up to needing a nice car and it goes up and up the maslows hierarchy of needs 

Physcological needs safety needs social needs esteem needs and self actualization needs the more you have the more you go up 

Which need would Audi and BMW fall under?

The answer is Esteem needs or ego because you are chasing that nice car or luxury

Marketing can serve as an external cue of a need

What is a trigger of the environment that signals a need - External Cue

Environment is external

Internal cue would be lunch because your hungry

Top of mind awareness - brands that come to mind 

Shout out a cookie brand - oreo comes to the top of the mind

A consideration set - what brands that the consumers remember top of mind 

Internal and external search

How to market in information search by making sure relevant information is available and easily accessible 

By researching to find when and where relevant information is found

Search Engine Optimization - SEO coming to the top of the list when looking for information

Evaluation of alternatives - looking at all the options and choosing which one is preferable

What is a set of products When someone recognizes a need - consideration set

Where do consumers go to get there expectations? - Previous experience advertisements online reviews

Business consumer - companies associations etc.. 

Variations in consumer vs Business to business purchasing

For b2b marketing focus on relationship marketing provide ongoing support and prepare relevant information

When u market to businesses use there preferred formats

Knowing how buy processes vary can help marketers adjust to meet customer needs

CHAPTER 6

Intro to product management 

Define the types of product attributes    Know the stages in the product life cycle learn the types of product packaging functions  and understan new packaging trends

Product attributes are the characteristics where products are identified and differentiated

Levels of attributes are core benefit expected attributes and add on attributute

Example of expected attribute is a phone with a long battery life core benefit is the convenient communication and add on attributes are a selfie camera

4 product categories 

Specialty products that have a unique attribute 

Unsought products - products that consumers are not aware of until a external cue

Durable and non durable lasting long vs not lasting long 

Staple products and Consumer packaged goods 

Basic items that are widely available vs good consued quickly like a grocery store

Impulse product purchased with little thought

Emergency goods - goods used in emergency

Just like a company a product has a life cycle and professionals do there best to keep the company alive 

Product class is a group of products that are substitutes for others like SUVs vs trucks vs busses

Product form is a smaller segment of a product class or variations like crossover SUVs\

Marketing should focus on bringing more brand awareness

Extending product life cycle includes finding new users and modifying the product to make it better like creating tide pods

Managing product variations fashion fad high and low learning styles

To extend product like sometimes companies modify it

High learning  product - take longer for consumer to learn and low is the opposite

Fashion has a short cyclical lifestyle due to trends 

Functions of packaging - communicate the brand and its benefits protect problem 

Primary packaging hold one unit of a product like toothpaste

Secondary holds a number of individual units

Teritiary packaging 

Unboxing - the experience creates a wow factor

Chapter 7

Services are intangible such as doctors 

Services marketing process of planning delivering and improving individual services 

Marketing intangibility - convey the benefits of the service set consumer expectations

Marketing for perishibility such as storing and delivering the product 

Variability would be mass producing the product 

Marketing for variability - train staff well have precise performance standards measure service outcomes to determine customer satisfaction

Challemges - customers rarely want the same service employees impact outcome 

Marketing