Discover What People Want by Mellvill Norton https://padlet.com/mnorto3795/4v4phon91cmx Made with mirth en-us 2017-02-13 19:40:56 UTC 2017-02-13 20:21:04 UTC hello@padlet.com Understanding Buyer Behavior mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153552250 Economic Market- all consumers who will purchase a product or service
Major Goals Of Marketing
What do consumers want?
How much will they pay for it?]]> 2017-02-13 19:46:53 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153552250 Consumer Spending Habits mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153553655 Price that fans will pay depends on their degree of interest and their perception of benefits derived.
Benefits Derived- the value people believe they receive from a product or service
Comparative Advantage- the capability to produce products or services more efficiently and economically than the competition]]> 2017-02-13 19:50:50 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153553655 Consumer Wants And Needs mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153555797 Abraham Maslow developed a hierarchy of needs
-Physiological: food, water, sleep,and shelter
-Security: physical safety and economic security
-Social: friends, family, and love
-Esteem: respect and recognition
-Self Actualization: realize full potential]]> 2017-02-13 19:57:26 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153555797 Buying Motives mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153557934 Emotional Purchase- buying with little thought during emotional highs or lows
Rational Purchase- buying based on needs, wants, priorities, budget, research, alternatives, thought, and reasoning
Patronage Purchase- buying based on loyalty to a brand or product]]> 2017-02-13 20:04:13 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153557934 Buying Plan mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153559870 Businesses must buy merchandise that customers will buy from them.
Projecting winning teams and athletes is difficult.
Businesses also buy for their own use.]]> 2017-02-13 20:10:28 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153559870 Gather Information mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153560893 Decision making process
-Recognize a need or want and the opportunity to satisfy it
-Gather information
-Evaluate choices
-Decide what to purchase
-Evaluate the product after purchase]]> 2017-02-13 20:14:04 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153560893 Decisions mnorto3795 https://padlet.com/mnorto3795/4v4phon91cmx/wish/153562005 Consumers
-Demographics and shopping behaviors
Business environment
-Economic conditions
-Amount and quality of competition
-Government regulations and laws
-Ethical issues]]> 2017-02-13 20:18:07 UTC https://padlet.com/mnorto3795/4v4phon91cmx/wish/153562005