By Delbert Hawkins, David Mothersbaugh
This publication is a strategic examine customer habit to be able to advisor winning advertising and marketing actions. The Wheel of customer research is the organizing think about the booklet. The 4 significant components of the wheel are patron impact and cognition, patron habit, client setting, and business plan. every one of those elements is the subject of 1 of the 4 significant sections within the publication.
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Additional resources for Consumer Behavior: Building Marketing Strategy
At other times, only the advertising message or retail outlets may need to differ. MARKETING STRATEGY It is not possible to select target markets without simultaneously formulating a general marketing strategy for each segment. A decisive criterion in selecting target markets is the ability to provide superior value to those market segments. Since customer value is delivered by the marketing strategy, the firm must develop its general marketing strategy as it evaluates potential target markets.
This is the essence of a good marketing strategy. As Figure 1–1 indicates, an understanding of consumer behavior is the basis for marketing strategy formulation. Consumers’ reactions to the marketing strategy determine the organization’s success or failure. However, these reactions also determine the success of the consumers in meeting their needs, and they have significant impacts on the larger society in which they occur. Marketing strategy, as described in Figure 1–1, is conceptually very simple.
This image and personality is facilitated and enhanced by the color and imagery used. Sales and Profits Sales and profits are critical outcomes, as they are necessary for the firm to continue in business. Therefore, virtually all firms evaluate the success of their marketing programs in terms of sales revenues and profits. As we have seen, sales and profits are likely to occur only if the initial consumer analysis was correct and if the marketing mix matches the consumer decision process. Customer Satisfaction Marketers have discovered that it is generally more profitable to maintain existing customers than to replace them with new customers.
Consumer Behavior: Building Marketing Strategy by Delbert Hawkins, David Mothersbaugh