Philips Kotler Marketing Management Essay Example for Free

Philips Kotler Marketing Management EssayAnalyzing Consumer MarketsSince marketing starts from the customer, it is of primary importance to assure the psyche of the customers and their buying motives. This chapter talks about the various behavioural patterns that govern the decision qualification process of a customer. A marketer needs to understand these factors affecting the customers get decisions so as to design an appropriate marketing strategy.Factors affecting Consumer BuyingBehaviour1. Cultural Factorsa. finish Frames traditions, values, perceptions, preferences. E.g. Child learning from family surroundings. b. Sub-culture Provides more specific identification and socialization. Include nationalities, religions, racial groups and geographic regions. c. hearty class Homogeneous and enduring divisions in a society which are hierarchically ordered. Members share similar tastes and behaviour. 2. Social Factorsa. Reference Groups Have direct or indirect solve on s omebodys bearing and behaviour. Primary groups regular interaction, e.g. family, friends, neighbours. Secondary groups religious, professional, trade union groups. Aspirational Groups ones that a person hopes to join. Dissociative groups whose values or behaviour and individual rejects.b. Family Family of orientation parents and siblings. Acquires orientationtowards religion, politics and economics, sense of personal ambition, egotism worth and love. Family of raising spouse and children. More direct influence on buying behaviour.c. Roles and Status Role consists of activities a person is expected to perform. Each role carries a status. Marketers must be aware of the status symbol of individually product.Chapter 6 Analyzing Consumer Markets3. Personal Factorsa. Age and Stage in the Life Cycle Tastes are age related. Markets should give carewise consider critical life events or transitions.b. Occupation and Economic Circumstances Economic Circumstances like spendable incom e, savings, assets, debts, borrowing power etc affect consumption patterns.c. Personality and Self Concept Personality, set of distinguishing characteristics that influence his/her buying behaviour. Consumers match brand personality with their ideal self concept instead of their actual self concept.d. Lifestyle and Values4. Psychological Factorsa. Motivation Freuds theory of id, ego and super ego Maslows need hierarchy theory Herzbergs two factor model.b. Perception Process by which we select, contrive and interpret study inputs. In marketing, perceptions are more important than reality. c. Learning Induces changes in behaviour arising from experience. Marketers bathroom build demand by associating the product with positive drives. d. Memory Short edge and long term memory. Build brand knowledge and brand recall as node in memory.ProblemRecogniton disciplineSearchEvaluation ofAlternativesleverageDecisionPost grease ones palmsBehaviourThe Buying Decision ProcessProblem acknow ledgment Customer recognises a need triggered by internal or external stimuli. Marketers need to identify wad that trigger needs.Information Search Two levels of involvement Heightened attention when person becomes more receptive to information about the product. At next level consumer may enter into active information search, looking for construe material, phoning friends etc.Evaluation of Alternatives Factors influencing a particular choice over the other include attitudes, beliefs and expectancy value.Purchase Decision Between purchase intention and purchase decision, 2 intervening factors come into play- Attitudes of others and Unanticipated situational factors. Marketers should understand that these factors provokerisk and should provide information to reduce it.Post purchase Behaviour Marketers must varan postpurchase satisfaction, postpurchase actions, and postpurchase product uses.Chapter 6 Analyzing Consumer MarketsTrendsLevel of customer involvementInvolvementSig nificantInsignificantDifferences in Brands laid-back heterogeneousBuyingBehaviourLowVariety SeekingDissonanceReducingHabitual1. Complex Buying Behaviour When a customer purchases something for the first time.2. Variety Seeking Consumers will keep reverse varieties just out of boredom. Eg- Biscuits. Marketer should keep introducing new products anddisplay the product prominently.3. Habitual Buying the resembling thing out of habit and not out of loyalty. Distribution network should be excellent in this case. Maintain consistency in product and advertising.4. Dissonance Reducing In case of repeat purchase of same product.