Professional Documents
Culture Documents
PERMS
Product Positioning
Influencing how consumers perceive a brands characteristics relative to those of competitive offerings
Goal: influence demand by creating a product with specific characteristics and a clear image
Product Differentiation
Consumers perceive meaningful differences between a brand and its competitors
Specific Positioning Market Leaders No mention of competitors Competitive Positioning Non-market leaders Positioned in relation to market leader
Perceptual Map
Simple Preparation Tuna Chicken Healthy Turkey Fresh Fish Beef Pork Involved Preparation Unhealthy Hot Dogs Bacon
Environmental Analysis
The assessment of the external forces that act upon the firm and its customers, and that create threats and opportunities
Demographics
The study of population changes and subcultural values of various demographic groups based on such factors as age, sex, income, education, ethnicity, and geography
Economic Environment
Three Major Contributions of Behavioral Economists: Consumer sector of the economy can strongly influence the course of the aggregate economy Factors that influence the decision of families to buy or save Methodology for making predictions of aggregate economic activities based upon consumer surveys
Natural Environment
Raw materials available Pollution Disease Expansion of desert regions around the globe Weather phenomena
Technological Environment
Anticipate changes and how these will influence the lifestyle and consumption patterns of consumers
Political Environment
Cultural Environment
Customs Values
MARKET RESEARCH
Applied consumer research Designed to provide management with information about consumer behavior
Marketing-Mix Development
The development and coordination of activities involving the:
Product Promotion
Pricing Distribution
Promotional Strategy
Advertising and Personal Selling Implications Sales Promotion Applications Public Relations
Price Changes
How will consumers react when companies raise or lower the price of a product? Principles of perception can be applied to analyze if consumers will notice a difference in price and if so, what effect it has
Product Distribution
Impacted by understanding how consumers make their purchasing decisions
Market Segmentation
Subdividing the market into distinct subsets of customers Similar needs and wants Reached with a different marketing mix
Demographic Characteristics Behavioral Segmentation Benefit Segmentation Usage Behavior Psychographic and Personality Characteristics
Consumer Situations
Temporary environmental factors Form the context within which a consumer activity occurs
Geographic Segmentation
Region Census blocks Size of cities and counties Population density Climate Geodemographics: the combination of geography and demographics
Culture is the way of life of the people of a society Subculture is a subdivision of a national culture and is based on some unifying characteristic, such as social status or nationality
3. 4.
Gather information and identify the problem/opportunity Identify the relevant consumer behavior concepts and how they apply to the problem Develop a managerial strategy Summarize the managerial recommendations