Marketing mix and consumer behavior. MARKETING AND CONSUMER BEHAVIOR (2 SCU) 2022-11-05

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The marketing mix and consumer behavior are closely related concepts that play a significant role in the success of any business. The marketing mix refers to the four key elements that make up a company's marketing strategy: product, price, place, and promotion. On the other hand, consumer behavior refers to the actions and decisions of individuals or groups of people when they are choosing, purchasing, using, and disposing of products and services.

The product element of the marketing mix refers to the goods or services that a company offers to its customers. This includes not only the physical characteristics of the product, but also its branding, packaging, and any additional features or benefits it may offer. When developing a product, businesses must consider the needs and wants of their target market and how the product meets or fulfills those needs.

The price element of the marketing mix refers to the cost of the product or service to the consumer. This includes the list price of the product, as well as any discounts or promotions that may be offered. Setting the right price for a product or service is crucial because it can impact the demand for the product and the profitability of the business. Companies must consider factors such as the cost of production, the competition, and the perceived value of the product to the consumer when determining the price.

The place element of the marketing mix refers to the distribution channels through which a product or service is made available to the consumer. This includes physical locations such as stores or markets, as well as online platforms and distribution networks. The place element also involves deciding how a product will be delivered to the consumer, whether it is through direct or indirect channels.

The promotion element of the marketing mix refers to the various methods a company uses to communicate with and persuade its target market to buy its products or services. This includes advertising, sales promotions, personal selling, and public relations. The promotion element plays a crucial role in building brand awareness and generating demand for a product or service.

Consumer behavior, on the other hand, refers to the actions and decisions of individuals or groups of people when they are choosing, purchasing, using, and disposing of products and services. It involves studying how consumers think, feel, and act in relation to a particular product or service. Understanding consumer behavior is important for businesses because it allows them to tailor their marketing mix to better meet the needs and wants of their target market.

For example, if a company is trying to sell a new brand of sneakers, they might use market research to understand the consumer behavior of their target market. They might find that their target market values comfort, durability, and style when choosing a pair of sneakers. Based on this information, the company could then design their product to meet these needs, set a price that reflects the value of the product, distribute the product through channels that are convenient for their target market, and use promotions that highlight the comfort, durability, and style of the sneakers.

In conclusion, the marketing mix and consumer behavior are closely related concepts that play a significant role in the success of any business. The marketing mix refers to the four key elements that make up a company's marketing strategy, while consumer behavior refers to the actions and decisions of individuals or groups of people when they are choosing, purchasing, using, and disposing of products and services. Understanding and effectively utilizing both the marketing mix and consumer behavior can help businesses effectively reach and satisfy their target market.

Marketing Mix and Consumer opportunities.alumdev.columbia.edu

marketing mix and consumer behavior

The demand for Dettol rose from about Rs. These focus groups often are made up of children in the target age group. Among those are IT and administrative staff, personnel from public relations and other creative services agencies, vendors and suppliers and strategic alliance partners. Information search Before the purchase the consumer does research about the product. The company consists of various brands of companies that include Pepsi Cola and Tropicana Products, Gatorade, Frito-Lay among others Pepsi Co, n. The use of the multimedia strategies was dependent on the external influences in the market and the different target consumer markets. There are several cases of companies not only in the technology field, leading market research in order to understand how they can maintain the loyalty of existing customers and attract new ones, but not everyone can have positive results.


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Consumer behavior in marketing

marketing mix and consumer behavior

The mix consisted of what is generally referred to as the Four Ps: product, price, place and promotion. Product decisions include aspects such as function, appearance, aesthetics, post sale service, product warranty, etc. What is in control of a manager is the marketing mix. The upper class would not have trouble purchasing the product no matter the price. The marketing strategies that can be used based on this consumer behavior include advertising the product in the market using TV commercials to constantly expose the product more to the consumers and stimulate their thinking.

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Marketing and Advertising

marketing mix and consumer behavior

Consumers are the ones who will purchase your products and keep your business afloat. A change in the price might even help the return to the market and allow Dettol to take the product ahead. External factors that motivate consumers to certain products over others include the status that they get once they buy the product. The women can therefore be targeted based on the results of this study and become potential consumers of the product since it does not contain high levels of sugar. What am I going to have for lunch? They have a high sense of commitment in understanding customers' needs and their situation. The science is the methodology that develops the mix and its application. Internal factors include the characteristics of the consumer and their personality that may motivate them to buy a particular product.

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Interpersonal Influence and Consumer Behavior

marketing mix and consumer behavior

The soap and liquid soap formats did not enjoy the same success that the antiseptic did. Price Pricing decisions should take into account to account for profit margins and competitors. Things which are important to this class include education and marriage. The research shows the importance of marketing mix and how can marketing mix such as product, price, place, promotion influence consumer behaviour. The way a customer chooses to purchase an item also says a lot about the type of customer he is. Marketers must identify the reason for this purchase, the marketer asks why consumers should buy a particular product and of course you ask why he should buy his own Kotler et al. The price of a product depends on the amount of research that goes into its development.

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[PDF] MARKETING MIX AND CONSUMER BEHAVIOR

marketing mix and consumer behavior

Marketers should study consumer purchase patterns and figure out buyer trends. To maximise sales, they have to increase sales force. Benefits sought A customer who buys toothpaste can look for four different reasons: whitening, sensitive teeth, flavor, or price. Marketing Mix is a combination of elements used in the sale of a specific product. A Multi-Media Advertising Approach is the Key.

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Marketing mix and consumer behaviour in Avon in the Slovakian market

marketing mix and consumer behavior

When the Four Ps concept was first developed, place meant distribution and all its related necessities such as supply chain, real estate, warehousing, inventory control, logistics, etc. This class of people tends to have high economic capability and can therefore be in a position to purchase the product no matter the price set. Older people are more conscious of their health and what they eat or drink. Download dan Install, seluruhnya gratis untuk digunakan. This provides valuable information for the company that can be used to target specific markets. Consumers will no longer be forced to purchase their wares simply because there are no better alternatives. Chances of an Indian or a Chinese bargaining at a retail store are higher than that of an American customer.

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Consumer behavior and marketing strategy

marketing mix and consumer behavior

However, the year 2004 was a fantastic attack on the market and shot up numbers in a single year in 2004 to 63000. Mostly this approach works the best, if the product is distinct in use and purchase and consumer wants to affiliate with certain group or to be at certain social position. Purchasing power Last but not least, our purchasing power plays a significant role in influencing our behavior. The figure below refers shows the analysis, study and the results of the research conducted. Dettol and Reckitt Benckiser have never had to worry about the competition so far.

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MARKETING AND CONSUMER BEHAVIOR (2 SCU)

marketing mix and consumer behavior

This affects the pricing and the promotion done for the product. The size of a sales force depends on the reach of the product in terms of distribution. It is that same human element that is fundamental to adding people and planning to the Four Ps. The different consumer behaviors were grouped according to their internal and external influences in the market and the marketing strategies were described as the plans that are used to help attain marketing goals. Why do they buy? Dettol was broken down into the Antibacterial Soap, Liquid Handwash, Shaving Cream and Band-Aid. Perhaps most important, adding people and planning to the marketing mix offers new outlets for controlling process variables through constant and consistent testing. Are we planning for a product upgrade this year? They include product, price, place of distribution , and promotion.

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