MK 210 Lecture Notes - Lecture 1: Psychographic, Marketing Strategy
Document Summary
Chapter 1 (cn) the basics and theory of exchange. The study of when people select, purchase, use, or dispose of products, services, ideas, or experiences in order to satisfy their wants and needs. The study of all of the processes involved when individuals or groups select, purchase, use, and dispose of products (goods, services, ideas, experiences) Market segmentation (group similar consumers together into homogeneous subsets; the goal is efficiency). Demographics: gender, race, ethnicity, age, income, geography, education, occupation. *the better understanding i have about how consumers respond to marketing efforts (product, price, promotion), the higher competitive advantage i will have. Demographics and psychographics are available to everyone no competitive advantage. Dark side of marketing (policymakers look at the issues that arise from marketing products and services to consumers; concerned with consumers" well-being). Concerns: addictive consumption (fast food, alcohol, tobacco), technology (privacy issues). What do we exchange: value (benefits/cost; what i receive or what i give).
