https://padlet.com/anadol6685/iy28upryml4g Made with a creative frenzy en-us 2017-02-13 19:41:16 UTC 2017-02-13 20:19:32 UTC hello@padlet.com anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153551899 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 19:45:56 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153551899 anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153553721 Fans of something are willing to pay a certain amount of money to make us feel good
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 19:51:00 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153553721 anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153555899 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 19:57:48 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153555899 anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153557899 Emotional purchase: buying with little thought during emotional highs or low.
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 20:04:08 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153557899 anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153559899 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 20:10:35 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153559899 anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153560855 Decision-making process
Recongnize 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 20:13:56 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153560855 anadol6685 https://padlet.com/anadol6685/iy28upryml4g/wish/153561890 Consumers
Demographics and shopping behaviors
Business environment
Economic conditions
Amount and quality of competition
Government regulations and laws
Ethical issues]]> 2017-02-13 20:17:41 UTC https://padlet.com/anadol6685/iy28upryml4g/wish/153561890