By Geoff Lancaster, M. Cowling, Paul Reynolds
Adopting a student-centred procedure with actions, routines and case experiences, this article is designed in particular as an introductory textual content for these learning advertising for the 1st time. The publication comprises assurance of more moderen parts akin to online marketing, client courting advertising and marketing and overseas advertising.
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Extra info for Marketing
In fact, manufacturers now tend to make a virtue of the fact that of the many vehicles produced only a few need be the same. 2 Targeted Marketing Efforts Most companies now realise that they cannot effectively serve all the segments in a market, and must instead target their marketing efforts. For example, in developing a new car, the manufacturing firm will have to make a decision on many issues, such as should it be a two, four, or five-seater model, with a 1000,2000 or 3000cc engine? Should it have leather, fabric or plastic seats?
2 A nested approach to segmentation in industrial markets Demographics Operating variables Purchasing approach Situational Personal characteristics Customers and Marketing 39 under the decision-making unit). Operating variables allow a more exact pinpointing of potential and existing customers within the final category, which is demographic variables, or the broad description of the segments related to customer needs and patterns of usage. Activity Consider the following industrial products or services and suggest likely segmentation bases: • • • • • valves banking services artificial fibres adhesives paints In the case of valves the most obvious base is by end-use- for the water industry, for the oil industry, for the gas industry.
The task of marketing is to identify patterns of behaviour which are predictable under given conditions and which will increase the marketer's ability to satisfy customer needs, and this process is at the very base of marketing. In order to more fully understand this we shall concentrate on five psychological concepts which are recognised as being very important when attempting to understand buyer behaviour: This concerns how we think other people see us and how we see ourselves. As individuals we might wish to create a picture of ourselves that is acceptable to our reference group, and this is communicated to the outside world by our individual behaviour.