Premium+

Why Consumer Behavior Is Considered by Some Marketers as a Key Constituent of Strategic Marketing - Case Study Example

Comments (0) Cite this document
Summary
The case study examples presented in the paper "Why Consumer Behavior Is Considered by Some Marketers as a Key Constituent of Strategic Marketing" represents a look at two highly successful companies, one which did not anticipate emerging economic, market and consumer changes and trends, whilst another did…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful

Extract of sample "Why Consumer Behavior Is Considered by Some Marketers as a Key Constituent of Strategic Marketing"

Download file to see previous pages Defining strategic marketing entails the fact that there are two distinct terms involved, strategic as well as marketing. Marketing in this context is most often thought of as being represented by the Four Ps, 1. Product, 2. Place, 3. Promotion, and 4. Price (Rogers, 2001). From the standpoint of the focus of this examination strategic objectives of a company represents using the aforementioned information and inputs as gleaned from research, records, surveys, and studies to craft the composition and types of marketing plans and combinations thereof that will effectively catch consumer interest and induce purchase (Bradley, 2003). The purpose of strategic marketing is to enhance the performance of a company through improved and more effective marketing that not only reaches its best target audiences but also converts these prospects into sales (Bradley, 2003). As such, strategic marketing is a highly cooperative and collaborative method that utilizes and brings together the various elements collected from all input points that go into the crafting of marketing efforts as a means to identify the most effective and efficient methods that should be implemented for results (Bradley, 2003). The second phrase that is central to this examination, and thus needs definition as well as clarification is consumer behavior. Simply put, consumer behavior represents the “Consumer decision making processes in purchasing and using goods and services” (YourDictionary.com, 2010). The preceding includes facets such as sociology, economics, psychology as well as what is termed as social anthropology (Bagozzi et al. 2002). The process of evaluating and understanding consumer behavior takes in a broad range of disciplines that are evaluated based on the end product or service as well as competing brands as a means to draw on all possible and or potential input and information sources (Antonides and Van Raaij, 1999). It also seeks to understand the why of the wants of individuals and the varied external influences that act upon them as represented by family members, friends, associates, trends, society and the media (Antonides and Van Raaij, 1999). In order to fit the foregoing into the context of business, one needs to understand that enterprises exist to fill a need and generate a profit. The preceding was aptly stated by Peter Drucker (1993, P. 42) in that “Business exists to supply goods and services to customers, rather than to supply jobs to workers and managers, or even dividends to stockholders”. The age-old adage “Nothing happens until something is sold” (Johnson, 2009) describes the business process that begins with customers accepting and purchasing a product that is the culmination of all the planning with regard to product design, manufacturing, distribution, and marketing to result in a sale. Thus, the core of generating sales and revenues reverts back to the exactness and strategic planning processes employed and used, along with the knowledge of consumer behavior and why they purchase. The preceding thus provides the rationale as to why the investigation of consumer behavior and strategic marketing are important subjects. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Why Consumer Behavior Is Considered by Some Marketers as a Key Constit Case Study, n.d.)
Why Consumer Behavior Is Considered by Some Marketers as a Key Constit Case Study. Retrieved from https://studentshare.org/marketing/2022631-consumer-behavior-as-a-key-constituent-of-strategic-marketing
(Why Consumer Behavior Is Considered by Some Marketers As a Key Constit Case Study)
Why Consumer Behavior Is Considered by Some Marketers As a Key Constit Case Study. https://studentshare.org/marketing/2022631-consumer-behavior-as-a-key-constituent-of-strategic-marketing.
“Why Consumer Behavior Is Considered by Some Marketers As a Key Constit Case Study”, n.d. https://studentshare.org/marketing/2022631-consumer-behavior-as-a-key-constituent-of-strategic-marketing.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Why Consumer Behavior Is Considered by Some Marketers as a Key Constituent of Strategic Marketing

Consumer behavior - marketing strategy

...?[Your full full December 05, Consumer BehaviorMarketing Strategy Introduction Before going to discuss the relationship between analysis of consumer behavior and strategic marketing planning, let us get a better understanding of what consumer behavior actually is. Tatum states, “Consumer behavior consists of the actions that consumers take in regard to making decisions about purchasing various goods and services”. The study of consumer behavior focuses on the factors that make...
8 Pages(2000 words)Term Paper

Key Consumer Psychology & Buying Behavior

...Marketing Essay Key Consumer Psychology & Buying Behavior INTRODUCTION It is veryimportant for the success of business to understand how different factors are involved in the consumer buying behavior and patterns. This helps to amplify the potential gains from the market in the form of increased sales and market share. Studies have shown that there are mainly four different factors that are involved in consumers’ buying decisions. These include cultural factors, social factors, personal factors and psychology factors. Thee psychological factors are further classified into an individuals,...
6 Pages(1500 words)Essay

Consumer Behavior Building Marketing Strategy

...information provides very strong evidence for the need for branding. Old brands seem to get credibility from the consumers who will then spread the popularity of the brands. This is why branding has become a very big issue with regard to the modern marketing (Pride & Ferrell, 2011). Growth curve of products As Solomon (2007) argues, in marketing it is necessary to understand the need to monitor the growth curve of the individual product. From the information provided, it is clear that the individual bought some products because there was a new design by the firm selling the product. Firms must understand this and try their best to ensure that they always...
7 Pages(1750 words)Literature review

Consumer behavior a strategic approach

...Consumer behavior a strategic approach Company Profile and Initial analysis Company Profile The report is will focus on the Corporate Communication Campaign of The Body Shop International PLC. The company produces cosmetics and is based in United Kingdom (U.K.). Although established in 1976, the company was founded in 1976 by Anita Roddik. Operating in sixty-one countries of the world, the company has almost above 2300 cosmetics stores in the market. However, it should be considered that the company is now a part of L’Oreal corporate group. As it operates in several countries in the contemporary world, the company generates more than 6000 large...
19 Pages(4750 words)Essay

Marketing Mix and Consumer Behavior

...?Marketing Mix and Consumer Behavior Contents Contents 2 Introduction 3 Marketing Mix 4 Consumer Behavior 6 Sociological Factors influencing consumerbehaviour 8 Personal factors 8 Social factors 9 Psychological Influences 9 References 12 Introduction The recent era of globalization has turned the entire market into a single marketplace. This practice is being continuously supported by technological up gradation as well as the innovative trends of marketing. Earlier, the marketers used to consider a specific market and used to design their products...
10 Pages(2500 words)Essay

E-marketing affect consumer behavior

...To What Extent do barriers to growth of E-marketing affect consumer behavior INTRODUCTION: E-marketing offers a very cost effective way to reach a large potential market with a diversified range of users using the Internet actually forming a kind of subculture within the population, each of which with certain characteristics such as income and educational levels, with more users in urban and metropolitan rather rural areas. E-marketing has 4 P's: 1) Permission, 2) Privacy, 3) Profiling and 4) Personalization. Permission is considered the key to successful...
7 Pages(1750 words)Essay

Consumer Behavior - Marketing

...Consumer behavior has been of thousands of studies under marketing since most, if not all business are interested in having their products orservices sold. A good analysis of consumer behavior enables a business to strategize its marketing plan so that consumer s would be influenced to make a purchase decision. This assignment is about consumer behavior and the buyer decision process as observed from real-life setting. The method employed in determining the subject’s buyer decision process is in-depth interview. There are two subjects chosen for this assignment, they...
4 Pages(1000 words)Assignment

Marketing and consumer behavior

...psychological dimensions (Saylor.org). The number of people involved in setting the criteria required for production is higher than the buying process for consumers since the degree of complexity plays a significant role here. The nature of decision making process for each group is dissimilar. Business buyers should consider many factors before setting payment. Buying decision for non-normal consumers for example take longer time and many marketers need to work on making an ultimate decision than end user customers. Using personal selling when they contact their suppliers is one common method to reach business customers. Using numerous methods such as CPL advertising...
7 Pages(1750 words)Essay

Contemporary Marketing- Consumer Behavior

...their options, they are able to choose the brand that most appropriately meets the needs that they have and then proceed to purchase it. A factor that regularly affects this decision is a consumer’s previous experience in a certain shopping outlet. If the experience that the consumer had was negative, then they are likely to choose another store. It is very likely that if this happens and the store in question is the only outlet for the product, the consumer may revert to step three and choose an alternative product. This is why marketers should ensure their outlets are consumer friendly. 5. Post Purchase Considerations Once the...
10 Pages(2500 words)Research Paper

Consumer Behavior, Marketing and Semiotics

...Consumer behavior, marketing and semiotics: Semiotics is very useful in understanding consumer behavior. Semiotics mainly constitutes the linguistic turn in the sciences that discuss human nature and behavior. Semiotics is a particularly very powerful tool for uncovering concealed meanings of human activities and human behavior and hence it is fundamental part to be considered at the time of designing any marketing campaign. Due to the fact that marketing involves symbols, such as written words and pictures, it is very necessary to ensure that those symbols match real-world human behavior. In this case, semiotics comes to great help. In addition, semiotics examines how people constitute perceptions that are the products... of the...
12 Pages(3000 words)Dissertation
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Why Consumer Behavior Is Considered by Some Marketers as a Key Constituent of Strategic Marketing for FREE!

Contact Us