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Text: Marketing Strategy, Ch. 5: Customers, Segmentation, and Target Marketing
Read Ch. 5 of Marketing Strategy: Text and Cases.
Consider the following as you read:
How marketers cope with uncertain buyer behavior.
The need to comprehend how consumers make critical purchasing decisions.
How a firm must understand the basic needs fulfilled by its products or services.
BUYER BEHAVIOR IN CONSUMER MARKETS
The Consumer Buying Process (five stages of activities that consumers may go through)
Common Situational Influences in the Consumer Buying Process.
BUYER BEHAVIOR IN BUSINESS MARKETS
Unique Characteristics of Business Markets
The Business Buying Process
Criteria for Successful Segmentation
Common Segmentation Variables Used in Consumer Markets.
What motivates you as a consumer to purchase certain products? What are some of the factors that influence buyer behavior? Provide an example.
What is a target market? How do you segment a market? What is the value of identifying the optimal target market for a product or service? Provide an example.
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