marketing powerpoint

Introduction to Marketing

#5 Customer Markets and Business Markets
2014 Fall

Consumer)Markets)

GoPro: Be a HERO!

More than 14 million views http://www.youtube.com/watch?v=S2oymHHyV1M TargeJng at niche market; sports athletes

TV commercial http://www.youtube.com/watch?v=9mGzoG0CA5M GoPro: Be a HERO!

! Less$than$$200$
! HD.quality$video$
! Waterproof$to$depths$of$180$feet$
! Drop.proof$from$3,000$feet$
! Customer$engagement$and$ enthusiasm$ ! Understanding$customer$needs$and$ moDvaDons$ Model of Consumer Behavior

S/mulus)Response)Model)

Marketers would like to understand the “black box”

MarkeDng$ and$ other$ sDmuli$ enter$ the$ buyer’s$ “black$ box”$ and$ produce$certain$choice/purchase$responses.$ Marketers$ must$ figure$ out$ what$ is$ inside$ of$ the$ buyer’s$ “black$ box”$and$how$sDmuli$are$changed$to$responses.$ TV commercials,
AcJviJes

Sales

Model of Consumer Behavior: Stimulus Response Model

Macroenvironment
Product
Price
Place
Promotion

Buyer’s Decision
Process

Product Choice
Brand Choice
Dealer Choice

Choice

Marketing and
Other Stimuli

Buyer’s Black Box

Buyer responses

Economic
Technological
Political
Cultural

Buyer’s
Characteristics

Purchase Timing
Purchase Amount

Characteristics Affecting Consumer Behavior

Key Factors
•
•
•
•

!Cultural'
!Social!
!Personal!
!Psychological!

• Culture$
• Subculture$
– Hispanic$consumers$
– African$Americans$
– Asian$Americans$
– Mature$consumers$

• Social$Class$

Characteristics Affecting Consumer Behavior: Cultural Factors

Hispanic)American)Consumers)
• 50$million$consumers$$
• Buying$power$of$$1.5$trillion$by$2015$$
• Spanish$media$makes$group$easy$to$reach$
• Brand$loyal$group$

Characteristics Affecting Consumer Behavior: Cultural Factors

Targe/ng)Hispanic)Americans:$Burger$King$sponsoredan$annual$