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    Tutorial1consumer Behaviour

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    Prasilah 0114
    Consumer behavior refers to how individuals, groups, or organizations select, purchase, use and dispose of products and services to satisfy needs and wants. A positioning strategy is when a company focuses on key areas to excel in order to compete, such as quality, cost or service. There are two types of consumer behavior: complex buying involves expensive purchases with research, while habitual buying has little involvement like grocery shopping. Retaining existing customers is important because it is less costly than acquiring new customers, allows ongoing value provision, and can generate referrals and positive word-of-mouth. The marketing mix elements are product, price, place, promotion, and people - referring respectively to the goods or services offered, pricing strategy, distribution channels, communication

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    Tutorial1consumer Behaviour

    Uploaded by

    Prasilah 0114
    6 views2 pages
    Consumer behavior refers to how individuals, groups, or organizations select, purchase, use and dispose of products and services to satisfy needs and wants. A positioning strategy is when a company focuses on key areas to excel in order to compete, such as quality, cost or service. There are two types of consumer behavior: complex buying involves expensive purchases with research, while habitual buying has little involvement like grocery shopping. Retaining existing customers is important because it is less costly than acquiring new customers, allows ongoing value provision, and can generate referrals and positive word-of-mouth. The marketing mix elements are product, price, place, promotion, and people - referring respectively to the goods or services offered, pricing strategy, distribution channels, communication

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    TUTORIAL1CONSUMER BEHAVIOUR

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    Consumer behavior refers to how individuals, groups, or organizations select, purchase, use and dispose of products and services to satisfy needs and wants. A positioning strategy is when a company focuses on key areas to excel in order to compete, such as quality, cost or service. There are two types of consumer behavior: complex buying involves expensive purchases with research, while habitual buying has little involvement like grocery shopping. Retaining existing customers is important because it is less costly than acquiring new customers, allows ongoing value provision, and can generate referrals and positive word-of-mouth. The marketing mix elements are product, price, place, promotion, and people - referring respectively to the goods or services offered, pricing strategy, distribution channels, communication

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    6 views2 pages

    Tutorial1consumer Behaviour

    Uploaded by

    Prasilah 0114
    Consumer behavior refers to how individuals, groups, or organizations select, purchase, use and dispose of products and services to satisfy needs and wants. A positioning strategy is when a company focuses on key areas to excel in order to compete, such as quality, cost or service. There are two types of consumer behavior: complex buying involves expensive purchases with research, while habitual buying has little involvement like grocery shopping. Retaining existing customers is important because it is less costly than acquiring new customers, allows ongoing value provision, and can generate referrals and positive word-of-mouth. The marketing mix elements are product, price, place, promotion, and people - referring respectively to the goods or services offered, pricing strategy, distribution channels, communication

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    CONSUMER BEHAVIOUR {TUTORIAL 1}

    NAME: ANNIE GERRA A/P GUNALAN

    NO MATRIC: DBM1020-0033

    1. Discuss what is meant by consumer behaviour from your opinion.


     Consumer behaviour is the study of how individual customers, groups or
    organizations select, buy, use, and dispose ideas, goods, and services to satisfy
    their needs and wants.
    2. Discuss what is meant by a “positioning strategy” and give a specific business example using
    this concept.
     A positioning strategy is when a company chooses one or two important key areas
    to concentrate on and excels in those areas. A firm's positioning strategy focuses
    on how it will compete in the market. An effective positioning strategy considers
    the strengths and weaknesses of the organization, the needs of the customers and
    market and the position of competitors. The purpose of a positioning strategy is
    that it allows a company to spotlight specific areas where they can outshine and
    beat their competition. Let's examine the requirements needed for a company to
    compete in the following areas: quality, cost, flexibility, speed, innovation and
    service. We will take a look at different manufacturing and service companies to
    identify examples for each and how they use their positioning strategy from an
    operational standpoint.
    3. Discuss the two types of consumer behaviour categories.
     Complex buying behaviour
    This type of behaviour is encountered when consumers are buying an expensive,
    infrequently bought product. They are highly involved in the purchase process and
    consumers’ research before committing to a high-value investment. Imagine buying a house
    or a car; these are an example of a complex buying behaviour.
     Habitual buying behaviour
    Habitual purchases are characterized by the fact that the consumer has very little
    involvement in the product or brand category. Imagine grocery shopping: you go to the store
    and buy your preferred type of bread. You are exhibiting a habitual pattern, not strong
    brand loyalty.
    4. Discuss why customer retention is so important to maintain relationship with an existing
    customers compared to finding a new customer.
     Acquiring new customers is a driving force that motivates all companies, but it's
    not without its limitations. For a business to thrive, it must eventually shift its
    focus to retaining the customers it's acquired rather than only landing new ones. A
    client or customer who stays with your company over time gives you the chance to
    provide more ongoing value, develop more personalized content, nurture a brand
    advocate, gain referrals, and earn positive word-of-mouth marketing. All of this is
    in addition to the fact that it costs less to retain an existing customer than it does
    to acquire a new one, making it a smart move for your customers and your bottom
    line to keep current customers coming back.
    5. Give an example that would describe each of the elements of the marketing mix.
     The elements of a marketing mix are the aspects of marketing that a business will
    leverage to promote its goods or services. There are five elements to consider:
    product, price, place, promotion, and people. Learn more about how these elements
    can help enhance the effectiveness of a business's marketing effort.
    Product
    These are the products or services you offer to your customers, including their
    physical attributes, what they do, how they differ from your competitors, and what
    benefits they provide.
    Price
    This element concerns how you price your product or service. A well-balanced price
    allows you to remain competitive while still creating a good level of profit.
    Place
    This is where your business sells its products or services and how it gets those
    products or services to your customers. It's also known as "distribution."
    Promotion
    These are the methods you use to communicate the features and benefits of your
    products or services to your target customers.
    People
    The "people" in this category aren't your customers, but your co-workers,
    colleagues, and yourself. This refers to how your level of service and the expertise
    provided by the people who work for you that can be used to set you apart from
    your competitors.

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