Problem Recognition Recognition General Need Description Info Product Specification Search/ Supplier Search Eval Proposal Solicitation Purchase Supplier Selection
Why New Products Fail “ Over Championing” Overestimated demand Poor Design Poor Marketing execution High development Costs Strong Competitive Reaction C2000 Prentice Hall
Bases for Segmenting Consumer Markets Geographic Region, City or Metro Size,Density, Climate Demographic Age, Gender, Family size and Life cycle, Race, Occupation or Income Psychographic Lifestyle or Personality
Macroenvironmental forces World trade enablers Asian economic power Rise of trade blocs International monetary crises Use of barter countertrade Move towards market economies Global lifestyles C2000 Prentice Hall
What is marketing? To attract and retain customers at a profit (Drucker, 1999) To establish, develop and commercialise long-term customer relationships so that the objectives of the parties involved are met (Gronroos, 1989)
Lecture 2: Buyer Behaviour in Consumer and Organisational Markets Lecture Objectives Buyer Behaviour Consumer Decision Making Process Characteristics of Organisational Buying
