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    Aimée Gray
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    Marketing principles like product, price, place, and promotion are used to target markets and satisfy consumer needs and wants in order to be profitable, as satisfying consumer needs leads to profits. Consumer behavior is influenced by thoughts, feelings, and actions regarding products purchased. Demand for financial services is increasing due to trends like an aging population, increasing income and wealth, and increasing mobility. Services are intangible, inseparable, inconsistent, and perishable. Market segmentation divides customers into groups with similar needs based on geography, demographics, psychographics, and behavior.

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    Marketing principles like product, price, place, and promotion are used to target markets and satisfy consumer needs and wants in order to be profitable, as satisfying consumer needs leads to profits. Consumer behavior is influenced by thoughts, feelings, and actions regarding products purchased. Demand for financial services is increasing due to trends like an aging population, increasing income and wealth, and increasing mobility. Services are intangible, inseparable, inconsistent, and perishable. Market segmentation divides customers into groups with similar needs based on geography, demographics, psychographics, and behavior.

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    22 views1 page

    Cheat Sheet

    Uploaded by

    Aimée Gray
    Marketing principles like product, price, place, and promotion are used to target markets and satisfy consumer needs and wants in order to be profitable, as satisfying consumer needs leads to profits. Consumer behavior is influenced by thoughts, feelings, and actions regarding products purchased. Demand for financial services is increasing due to trends like an aging population, increasing income and wealth, and increasing mobility. Services are intangible, inseparable, inconsistent, and perishable. Market segmentation divides customers into groups with similar needs based on geography, demographics, psychographics, and behavior.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Need: basic nesec of life Want: how prsn satisfy needs Satisfy consumer needs mrktng shapes cnsmr

    r wants Mrktng Principles: PRODUCT, PRICE, PLACE, PROMOTION used for target mrktng, limited by uncntrlbl envir factors Mrktng uses exchanges to satisfy cnsmr wants trade $ for service, both valuable, cnsmr and cmpy BOTH better off Relationship consmr needs constantly satisfied - satisfying cnsmr needs/wants leads to profits (customer value) CNSMR behaviour thoughts/feelings/actions about products purchased

    Demands for FIN SERV: aging pop, inc imp female cust, etnic div, inc cust income/wealth, inc cust mobility. Service spectrum: pure good pure service, most things somewhere in between

    services: intangible, insepreable, inconsistent, perishable Market segmentation: groups that have similar needs: ex. Credit cards Geographic, demographic, psychographic, behavioural Dem: age, gender, income, culture, FLC Psych: values, lifestyle, personality, relationships behaviour: usage, benefits desired Customer profile allows serve custm more effectively Reference Groups: those we interact with/ who shape our attitudes/informal and Formal/innovator & opinion leader

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