Consumer Behaviour Concepts and Target Marketing.pptVIP

Consumer Behaviour Concepts and Target Marketing CHAPTER 3 Learning Objectives Explain how consumer behaviour concepts influence the development of marketing communications strategies Assess the information needed to identify and select target markets Distinguish between demographic, psychographic, geographic, and behaviour-response segmentation variables Continued… Learning Objectives (cont.) Explain the influence of relationship marketing concepts on marketing communications strategies Explain the concept of positioning and its role in developing marketing communications strategies. Consumer Behaviour Marketers must have access to data concerning consumers; buying habits and which kinds of media they favour, in order to develop convincing communications programs. Who makes the buying decision? Who influences the buying decision? What motivates the buyers and people of influence to take action? Needs and Motives Need: Absence of something useful Motive: Condition prompting action to satisfy a need Communicating benefits and presenting the right image prompts the action to purchase. Maslow’s Hierarchy of Needs Personality and Self-Concept Perceptions Attitudes Reference Groups A group, class, or category of people to which individuals believe they belong, whether or not they actually do. A member of a group experiences considerable pressure to “fit in”. Co-workers Sports teams Hobby clubs Fraternal organizations Schoolmates Family Family members influence buying decisions. The changing roles of family members have blurred the lines of responsibility between men and women. New responsibilities and shared decision-making has led to double targeting. Identifying and Selecting Target Markets The ability of a company to target specific customers is based on the concept of market segmentation. Market Segmentation - dividing a large market into smaller homogeneous markets based on common needs or similar lifestyles. Identifying Selecting Market Segm