Date post: | 28-Jul-2015 |
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Marketing |
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THARAKA DIASDirector – My Media Network
MBA(USA), BBA(USA), Dip in Mgt, ACIM(UK), FAEA(Dip in AEA-UK),
FinstSMM(UK), CPM(Asia), MSLIM, PM(Sri-Lanka)
PsychologySociologyAnthropology(science of humanity)MarketingEconomics
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Because no longer can we take the customer/consumer for granted.
Out of 11000 new products introduced by 77 companies, only 56% are present 5 years later.
Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives.
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All managers must become respect analysts of consumer motivation and behavior
No.
Because cross - cultural styles, habits, tastes, prevents such standardisation.
The more successful a firm has been in the past, the more likely is it to fail in the future.
Because people tend to repeat behaviour for which they have been rewarded.
“Please leave your values at the desk” - Paris hotel
“Drop your trousers here for best results” - Bangkok laundry
“The manager has personally passed all water served here” - Acapulco restaurant
“Because of the impropriety of entertaining guests of the opposite sex in the bedroom, it is suggested that the lobby be used for the purpose.” - Zurich hotel
Ladies are requested not to have children in the bar.”- Norway bar
9Tharaka Dias - AOT
“Come alive out of the grave” - Germany
“Pepsi brings your ancestors back from the grave” - China
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12
Components Functional/utilitarian components
Symbolic/ expressive components
Evaluation of the brand
Rational and practical evaluation of the brand
Emotional evaluation of brand
Perception about Evaluation of performance capabilities
Taste
Usage effectiveness Pride
Value for money Self expression
Reliability Belongingness to a group
availability Sense of prestige
Social approval
Benefits Intrinsic Extrinsic
Value for moneyQuality of productThe politeness of salesmenExchange and return policiesSalesmen non interferenceA wide variety of products and
brands
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4 P s M a rke tingE n v iro n m e nt
B u yerC h a ra c te ris tics
B u yerD e c is io n P ro ce ss
B u yerD e c is ion
C o n su m er
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P ro du ct P rice P lace P ro m o tion
4 P s
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E con om ic T e ch no log ica l P o li t ica l C u ltu ra l
M arke tingE nv iro nm ent
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CulturalSocialPersonalPsychological
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Problem Recognition Information SearchEvaluation of AlternativesPurchase DecisionConsumptionPostpurchase behaviour
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Product ChoiceBrand ChoiceDealer ChoicePurchase TimingPurchase Amount
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CultureSub - cultureSocial Class
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Reference GroupsFamilyRoles and Statuses
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Family Life CycleOccupation and Economic
circumstancesLifestylePersonality and self - concept
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MotivationPerceptionLearningBeliefs and Attitudes
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Initiator InfluencerDeciderBuyerUser
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ComplexDissonance - ReducingHabitualVariety seeking
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Problem Recognition Information SearchEvaluation AlternativesPurchase Decision
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SatisfactionActionsUse and Disposal
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7- 28Tharaka Dias - AOT
Critically evaluate the statement, Branding impacts all purchase process stages
Does the brand gap exist? With the help of an example discuss the existence or absence of a brand gap
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