Professional Documents
Culture Documents
MKTG 101 Quiz Notes
MKTG 101 Quiz Notes
MKTG 101 Quiz Notes
Has Evolved
Through
Service
dominant
Customer Cocreation
Marketing
used by:
Marketing
Process
Sustainable
Marketing
Triple Bottom
Line
7 Ps of
Marketing
Marketing Mix
Marketing
Environment
Environmenta
l Analysis
Internal
Micro
Macro
Pure
Competition
Monopolistic
Competition
Oligopoly
Monopoly
Monopsony
Total Budget
competition
Generic
competition
Product
competition
Brand
Competition
Situational
Analysis
Marketing
Planning
Situational
Analysis
SWOT
Market
Research
Research
Factors
considered
Market
Research Brief
Also include
Types of
research
Data Types
Consumer Behaviour
Definition
The analysis of the behaviour of individuals and households
who buy goods and services for personal consumption
Situational
Physical
Social
Time
Motivational
Mood
Group
Cultural:
Culture
Subcultural
Social Class
Individual
Situational
Influences
Cultural Factors
Culture
Power distance
Uncertainty
avoidance
Individualism
Masculinity
Long-term
orientation
Cultural
Influences
Class
influences
Social Factors:
Social:
Reference groups
Family
Roles and Status
Personal:
Demographics
Age
Occupation
Lifestyle
Personality and self-concept
Psychological
Motivation
Perception
Beliefs and attitudes
Learning
Physical location
Social interaction
Time available
Purchase motivation
Consumer mood
Influences on behaviours that operate at the level of the whole
society, or of major groups within society
The beliefs, values and rituals by which a society defines itself
Culture includes tangibly e.g. Clothing and intangibility e.g.
laws and customs
Degree of acceptance inequality within a culture
Extent to which people feel threatened by uncertainty and seek
to reduce it
Extent to which people focus on their own goals over those of
the group
Extent to which assertiveness and status are valued over
solidarity and life quality
Pragmatic, long term orientation is valued over a short termfocus
Subculture: A group of individuals who share common
attitudes values and behaviours that distinguish them from the
broarder culture in which they are immersed.
Multiculturalism: The existence of diverse cultures within a
society
Social Class: A group comprising individuals of similar rank
within the social hierarchy
An individuals social class is defined by values and lifestyle i.e.
income, occupation and education.
Social factors: influences on an individual
Reference Group: Any group and individual looks for
guidance
Membership groups: Groups to which the individual belongs
Aspirational reference groups: Groups that an individual
Opinion Leader
Family
Family life
cycle
wishes to join
Dissociative reference groups: Groups an individual does
not wish to be associated or disconnected from.
A reference group member who provides advice about a
specific interest to the group
Family life cycle: A series of stages through which a family
pass
Family decision making roles: Whom has responsibility for
making decisions for the family
Pester Power: Children who pester their parents purchasing
power
Stag
e
1
Example
Description
Young Singles
Young Married
Parenthood
Single
person living
alone
Married, No
kids
Married, Kids
PostParenthood
Dissolution
Social
influences
Individual
Influences
Personal
Characteristics
Demographic
factors
Lifestyle
Personality
Psychological
characteristics
Maslow
Hierarchy of
Needs
Perception
Married
Marketing
Consequences
Cars, Furniture,
entertainment
Home furniture,
whitegoods
Detergents, food,
medical
Luxury, investment
Single
Health, security,
Spouse
finance
Roles: Parents, child, neighbour, employee, friend etc.
Status: Role, age, technical competence, popularity.
Personal and psychological factors that influence consumer
behaviour
Demographic, lifestyle and personality factors that influence
consumer behaviour
Characteristics i.e. population, age, education and income.
How and individual spends their time and interacts with others
The set of characteristics and behavioural tendencies that
characterise and individual.
Internal factors, independent of situational and social
circumstances, that shapes thinking, aspirations, expectations
and behaviour.
Rank
Title
Description
5
Self-actualisation
Creative art, service
4
Esteem
Respect from peers
3
Love or belonging
Intimacy
2
Safety
Housing, money
1
Physiological
Hunger Thirst
The process that filters, organises and attributes meaning to
external stimuli.
Beliefs
Attitudes
Behavioural
learning theory
Cognitive
learning theory
Consumer
Decision
Making
Habitual
decision
marking
Limited
decision
marking
Extended
decision
making
Impulse buying
Need / want
recognition
Information
search
Evaluation of
options
Purchase
Post purchase
evaluation
Cognitive
dissonance
Selective exposure
Selective attention
Selective distortion
Selective retention
Descriptive or evaluative thoughts that an individual holds
regarding their knowledge of a person, idea or product. Beliefs
may be based on objective knowledge, opinions or faith.
An individuals relatively stable and consistent thoughts,
feelings and behaviours towards an object or idea.
Stresses the role of experience and repetition of behaviour/
Learning that takes place through rational problem solving
Ran
k
1
Title
Description
Need / Want
recognition
Information search
Consumer is aware of
unsatisfied need
2
Seek information from all
sources
3
Evaluation of options
Develop criteria, rank
alternatives
4
Purchase
Choose product or brand,
decide on purchase
5
Post-purchase
Continuation to evaluate
evaluation
product, deal with buyers
remorse, asses attitude
towards product.
Low engagement purchasing decisions, small, routine low risk
Reseller
markets
Producer
markets
Government
markets
Institutional
markets
High value
purchases
High volume
purchases
Price
competition
and
negotiation
Number of
buyers and
sellers
Formal
assessment of
purchase
alternatives
Ongoing
relationships
Demand
characteristics
Derived
demand
Demand
Fluctuations
Join Demand
Far few buyers and sellers in the business markets than in the
consumer market.
Business customers demand extensive information. Businesses
use this, along with price, distribution and promotional factors,
to compare the relative strengths and weaknesses of
alternatives
Close, ongoing relationships provide a degree of certainty to
both parties.
Businesses tend not to adjust their consumption in relation to
price changes; they pass the cost on to their customers or look
for substitute products.
Demand in business markets that is due to demand in
consumer markets.
Business customers make purchase decisions infrequently and
based on expectations of long-run demand, resulting in
demand that fluctuates more son than in consumer markets.
Interdependent demand for products that are used together in
the production of another product
Pricing and
demand
Market
segments
Target
Marketing
Target
Marketing
Mass
Marketing
One-to-one
marketing
Differentiated
targeting
strategy
Product
specialisation
Market
specialisation
Productmarket
specialisation
Target
Marketin
g
Segmenting
consumer
markets
Geographic
Segmentation
Geodemographic
segmentation
Psychographic
Segmentation
Roy
Morgan
Values
Segmen
ts
Behavioural
segmentation
Business
market
segmentation
Effective
segmentation
criteria
Market
segment
profiling
Market
targeting
Market
targetin
g
Market
potential
Sales revenue
Market Share
Company
sales
potential
Potential
Market
Positioning
Company
positioning
Brand
Positioning
Positioni
ng steps