MKT 400 Study Guide - Midterm Guide: Consumer Behaviour, Market Orientation, Demand Characteristics
Document Summary
Differentiated marking firms that serve multiple market segments, each with a unique product offering: e. g. Niche marketing plans wherein a firm specializes in serving on market segment with particularly unique demand characteristics: e. g. bobby grace putter company specializes in the putter. Sociology the study of groups within a society: a great deal of consumption takes place within a group setting/affected by group behavior. Anthropology study in which researchers interpret relationships: between consumers and the things that they purchase, products they own, and the activities in which they participate. Marketing multitude of value-producing seller activities that facilitate exchanges between buyers and sellers. Consumer orientation way of doing business in which the actions and decision making of the institution prioritize consumer value and satisfaction above all other concerns. Market orientation organizational culture that embodies the importance of creating value for customers among all employees. Interpretive research approach that seeks to explain the inner meanings and motivations associated with specific consumption experiences.
