Philips Kotler Marketing Management - Essay Example

Child learning from family & surroundings. B. Sub-culture – Provides more specific identification and colonization. Include nationalities, religions, racial groups and geographic regions. C. Social Class – Homogeneous and enduring divisions in a society which are hierarchically ordered. Members share similar tastes and behavior. 2. Social Factors a. Reference Groups – Have direct or indirect influence on person’s attitude and behavior. Primary groups: regular interaction, e. G. Family, friends, neighbors. Secondary groups: religious, professional, trade union groups.

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Aspiration Groups: ones that a person hopes to Join. Dissociation groups: whose values or behavior and individual rejects. B. Family – Family of orientation: parents and siblings. Acquires orientation towards religion, politics and economics, sense of personal ambition, self worth and love. Family of procreation: spouse and children. More direct influence on buying behavior. C. Roles and Status – Role consists of activities a person is expected to perform. Each role carries a status. Marketers must be aware of the status symbol of each product.

Chapter 6 – Analyzing Consumer Markets 3. Personal Factors a. Age and Stage in the Life Cycle – Tastes are age related. Markets should also consider critical life events or transitions. B. Occupation and Economic Circumstances – Economic Circumstances like expendable income, savings, assets, debts, borrowing power etc affect consumption patterns. C. Personality and Self Concept – Personality, set of distinguishing characteristics that influence his/her buying behavior. Consumers match brand personality with their ideal self concept instead of their actual self concept. . Lifestyle and Values 4. Psychological Factors a. Motivation: Fraud’s theory of id, ego and super ego; Mascots need hierarchy theory; Herrings two factor model. B. Perception: Process by which we select, organize and interpret information inputs. In marketing, perceptions are more important than reality. C. Learning – Induces changes in behavior arising from experience. Marketers can build demand by associating the product with positive drives. . Memory – Short term and long term memory. Build brand knowledge and brand recall as node in memory.

Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Postprocessor The Buying Decision Process Problem Recognition – Customer recognizes a need triggered by internal or external stimuli. Marketers need to identify circumstances that trigger needs. Information Search – Two levels of involvement – Heightened attention when person becomes more receptive to information about the product. At next level consumer ay enter into active information search, looking for reading material, phoning friends etc.

Evaluation of Alternatives – Factors influencing a particular choice over the other include attitudes, beliefs and expectancy value. Purchase Decision – Between purchase intention and purchase decision, 2 intervening factors come into play- Attitudes of others and Unanticipated situational factors. Marketers should understand that these factors provoke risk and should provide information to reduce it. Post purchase Behavior – Marketers must monitor postprocessor satisfaction, catchphrase actions, and postprocessor product uses.