Consumer Behavior and Marketing Strategy |
A sound understanding of consumer behavior is essential to the long-run success of any marketing program. In fact, it is seen as a cornerstone of the marketing concept, an important orientation or philosophy of many marketing managers. The following descriptions explore the role of consumer behavior in designing and deploying three major marketing activities.
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Market-Opportunity Analysis A variety of recent trends have resulted in many new product offerings for consumer satisfaction. For example, companies attuned to the fitness interests of Americans have been quick to offer such new products as exercise bicycles, weight training books, and clothing. In the health care field, companies sensing consumers' unmet medical needs have offered coin-operated blood pressure testing machines at shopping centers and other convenient locations. You can donwload excellent powerpoint slides on marketing management and business strategy here.
Target-Market Selection In other cases, the marketer may decide to concentrate company efforts on serving only one or a few of the identified target markets. An excellent example of this occurred in the bath soap market. By segmenting consumers according to their lifestyle patterns and personalities, the Colgate-Palmolive company was able to identify a unique group of consumers in need of a certain type of deodorant soap. Development of Irish Spring for this target group led to the capturing of 15 percent of the deodorant soap market within three years of introduction.
Marketing-Mix Determination
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