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Marketing Exam Study!

  • Secondary beliefs are values more open to change, believing in marriage is a core belief; believing that people should get married in early life is a secondary belief

    • Marketers have some chance at changing secondary values, but little chance of changing core values

Marketing Intelligence

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    A systematic collection and analysis of publicly available information about competitors and developments in the marketing environment

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    Is a specific branch of competitive intelligence

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    Goal is to improve strategic decision making, asses s and track competitors’ actions, and provide early warning of opportunities and threats

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    Growing use of marketing intelligence raises some ethical issues, most techniques are legal, but some are considered questionable

Consumer market

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    All individuals in a particular geographic region, who are old enough to have their own money

and choose how to spend it

Consumer buyer behaviour

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    The buying behaviour of consumers – individuals who buy goods and services for their own use

or consumption Factors Influencing Consumer Behaviour

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    Cultural Factors

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      Cultural factors exert a broad and deep influence on consumer behaviour, the marketer needs to understand the role played by the buyer’s culture, subculture, and social class

      • Culture

        • The set of basic values, perceptions, wants, and behaviours learned by a member of society from family and other important institutions

      • Subculture

        • A group of people with shared value systems based on common life experiences and situations

      • Social Classes

        • Relatively permanent and ordered divisions of a society into groups whose members share similar values, interests, and behaviours

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    Social factors

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        A consumer’s behaviour is also influenced by social factors such as membership in small groups and family, and social roles and status

        • Groups

        • A person’s behaviour is influenced by many small groups

        • A group consists of two or more people who interact to accomplish individual or mutual goals

        • Primary groups are with which a person has regular but informal interaction – such as family, friends, neighbours, and co-workers

        • Secondary groups – organizations such as religious groups, professional associations, and trade unions

        • Reference groups – serve as face to face, or indirect points of comparison or reference in forming a person’s attitude or behaviour

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