The Meaning of Marketing

Marketers are bridge-builders

On one side there is the company or organization

Marketers are bridge-builders

On the other there are consumers

Marketers are bridge-builders

The company or organization has resources Capital resources Human resources Technical resources

Physical resources Consumer franchise

Marketers are bridge-builders

The consumers have needs Physical Safety Affiliation Prestige Fulfillment

Marketers are bridge-builders

Marketers build a bridge between the company’s resources and consumers’ needs

Marketers are bridge-builders

That bridge stands on four pillars

Marketers are bridge-builders

Name the pillars on which the bridge stands

Marketers are bridge-builders

Name the pillars on which the bridge stands

Product

Price

Place

Promotion

Marketers’ two major decisions How to construct the pillars?

Product Place Pricing Promotion

Orchestration of the Marketing Mix

Marketers’ two major decisions To where should the bridge be built? Demographics Geographics Psychographics

Market Segmentation Target Marketing

Two sources of information Consumer Behavior

Principles of the behavioral and social sciences

Marketing Research Primary research data Secondary research data

What is Consumer Behavior? Consumer psychology Consumer sociology Consumer anthropology Consumer (behavioral) economics

Social Science Perspectives

Psychology

Family formation Mating & dating Religiosity Political preferences

Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior

Effects of psychological makeup on:

Social Science Perspectives

Sociology

Family formation Mating & dating Religiosity Political preferences

Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior

Effects of social position and conditions on:

Social Science Perspectives

Anthropology

Family formation Mating & dating Religiosity Political preferences

Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior

Effects of culture, subculture and ethnicity on:

Social Science Perspectives

Economics

Family formation Mating & dating Religiosity Political preferences

Consumer behavior Occupational values Financial behavior Social affiliations Recreational behavior

Effects of income, wealth and earning power on:

Consumer Behavior perspectives

Psychology Sociology

Anthropology Economics

Structure of the course Consumer psychology

Needs Motives Perception Learning Personality

Structure of the course Consumer social psychology

Communications Attitude formation Attitude change

Structure of the course Consumer sociology

Reference groups Group dynamics Social class

Structure of the course Consumer anthropology

Culture Subculture Ethnicity

Structure of the course Consumer economics

Decision making Perceive risk Innovation diffusion Adoption process