Summary of Chapter 6 Analyzing Consumer Markets - Marketing Management book by Kotler, 2012
CHAPTER 6 - Analyzing Consumer Markets
The aim of marketing is to meet and satisfy target customers’ needs and wants better than competitors. Marketers must have a thorough understanding of how consumers think, feel, and act and offer clear value to each and every target consumer.
Successful marketing requires that companies fully connect with their customers. Adopting a holistic marketing orientation means understanding customers— gaining a 360-degree view of both their daily lives and the changes that occur during their lifetimes so the right products are always marketed to the right customers in the right way.
Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.2 Marketers must fully understand both the theory and reality of consumer behavior.
A consumer’s buying behavior is influenced by:
Cultural Factors (culture / subculture / social classes):
• Culture is the fundamental determinant of a person’s wants and behavior.
• Subcultures that provide more specific identification and socialization for their members. Subcultures include nationalities, religions, racial groups, and geographic regions.
• Social classes, members who share similar values, interests, and behavior.
Social Factors:
- Reference Groups
• A person’s reference groups are all the groups that have a direct (face to- face) or indirect influence on their attitudes or behavior. + membership groups: primary groups / secondary groups
• Reference groups influence members in at least three ways: + Aspirational groups are those a person hopes to join + Dissociative groups are those whose values or behavior an individual rejects.
+ Opinion leader is the person who offers informal advice or information about a specific product or product category, such as which of several brands is best or how a particular product may be used.
- Family
• The most
The aim of marketing is to meet and satisfy target customers’ needs and wants better than competitors. Marketers must have a thorough understanding of how consumers think, feel, and act and offer clear value to each and every target consumer.
Successful marketing requires that companies fully connect with their customers. Adopting a holistic marketing orientation means understanding customers— gaining a 360-degree view of both their daily lives and the changes that occur during their lifetimes so the right products are always marketed to the right customers in the right way.
Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.2 Marketers must fully understand both the theory and reality of consumer behavior.
A consumer’s buying behavior is influenced by:
Cultural Factors (culture / subculture / social classes):
• Culture is the fundamental determinant of a person’s wants and behavior.
• Subcultures that provide more specific identification and socialization for their members. Subcultures include nationalities, religions, racial groups, and geographic regions.
• Social classes, members who share similar values, interests, and behavior.
Social Factors:
- Reference Groups
• A person’s reference groups are all the groups that have a direct (face to- face) or indirect influence on their attitudes or behavior. + membership groups: primary groups / secondary groups
• Reference groups influence members in at least three ways: + Aspirational groups are those a person hopes to join + Dissociative groups are those whose values or behavior an individual rejects.
+ Opinion leader is the person who offers informal advice or information about a specific product or product category, such as which of several brands is best or how a particular product may be used.
- Family
• The most