FINAL EXAM REVIWER MARKET ANALYSIS COMPONENTS

MEL 3113 – CONSUMER BEHAVIOR

Market analysis requires a thorough understanding of
--------------------------------------------------------- the organization’s own capabilities, the capabilities of
current and future competitors, the consumption
1ST REPORTERS process of potential customers, and the economic,
Introduction physical, and technological environment in which
these elements will interact.
Consumer behavior is the study of consumers and
the processes they use to choose, use (consume), The Consumers
and dispose of products and services, including It is not possible to anticipate and react to customers’
consumers’ emotional, mental, and behavioral needs and desires without a complete understanding
responses. Understanding consumer behavior is of consumer behavior. Discovering customers’ needs
crucial for businesses to create effective marketing is a complex process, but it can often be
strategies that can influence consumers’ decision- accomplished by marketing research.
making processes.
The Company
Informed Individuals - Most economically
developed societies are legitimately referred to as A firm must fully understand its own ability to meet
consumption societies. Most individuals in these customer needs. This involves evaluating all aspects
societies spend more time engaged in consumption of the firm, including its financial condition, general
than in any other activity, including work or sleep managerial skills, production capabilities, research
(both of which also involve consumption). Therefore, and development capabilities, technological
knowledge of consumer behavior can enhance our sophistication, reputation, and marketing skills.
understanding of our environment and ourselves.
Such an understanding is essential for sound
citizenship, effective purchasing behavior, and The Competitors
reasoned business ethics. It is not possible to consistently do a better job than
MARKETING STRATEGY AND CONSUMER the competition of meeting customer needs without
BEHAVIOR a thorough understanding of the competition’s
capabilities and strategies
To survive in a competitive environment, an
organization must provide its target customers more In addition, for any significant marketing action, the
value than is provided to them by its competitors. following questions must be answered:
Customer value is the difference between all the 1. If we are successful, which fi rms will be hurt
benefits derived from a total product and all the costs (lose sales or sales opportunities)?
of acquiring those benefits. 2. Of those firms that are injured, which have
It is critical that a firm consider value from the the capability (financial resources, marketing
customer’s perspective strengths) to respond?
3. How are they likely to respond (reduce prices,
Providing superior customer value requires the increase advertising, introduce a new
organization to do a better job of anticipating and product)?
reacting to customer needs than the competition 4. Is our strategy (planned action) robust
does. This is the essence of a good marketing enough to withstand the likely actions of our
strategy. competitors, or do we need additional
contingency plans?
The Conditions Identifying the various need sets that the fi rm’s
current or potential product might satisfy typically
The state of the economy, the physical environment,
involves consumer research, particularly focus
government regulations, and technological
groups and depth interviews, as well as logic and
developments affect consumer needs and
intuition. These need sets are often associated with
expectations as well as company and competitor
other variables such as age, stage in the household
capabilities.
life cycle, gender, social class, ethnic group, or
MARKET SEGMENTATION lifestyle, and many fi rms start the segmentation
process focusing first on one or more of the groups
Perhaps the most important marketing decision a fi
defined by one of these variables.
rm makes is the selection of one or more market
segments on which to focus. A market segment is a Customers with Similar Need Sets
portion of a larger market whose needs differ
The next step is to group consumers with similar
somewhat from the larger market. Since a market
need sets. This step generally involves consumer
segment has unique needs, a fi rm that develops a
research, including focus group interviews, surveys,
total product focused solely on the needs of that
and product concept tests (see Appendix A). It could
segment will be able to meet the segment’s desires
also involve an analysis of current consumption
better than a firm whose product or service attempts
patterns.
to meet the needs of multiple segments
Description of Each Group
Market segmentation involves four steps:
Once consumers with similar need sets are
identified, they should be described in terms of their
1. Identifying product-related need sets.
demographics, lifestyles, and media usage.
2. Grouping customers with similar need sets.
Designing an effective marketing program requires
3. Describing each group.
having a complete understanding of the potential
4. Selecting an attractive segment(s) to serve.
customers
Product-Related Need Sets
Attractive Segment(s) to Serve
Organizations approach market segmentation with a
Once we are sure we have a thorough understanding
set of current and potential capabilities. These
of each segment, we must select our target
capabilities may be a reputation, an existing product,
market—that segment(s) of the larger market on
a technology, or some other skill set. The first task of
which we will focus our marketing effort. This
the firm is to identify need sets that the organization
decision is based on our ability to provide the
is capable, or could become capable, of meeting. The
selected segment(s) with superior customer value at
term need set is used to reflect the fact that most
a profit.
products in developed economies satisfy more
than one need. Thus, a watch can meet more needs It is important to remember that each market
than just telling time. segment requires its own marketing strategy. Each
element of the marketing mix should be examined to
Customer needs are not restricted to product
determine if changes are required from one segment
features. They also include types and sources of
to another. Sometimes each segment will require a
information about the product, outlets where the
completely different marketing mix, including the
product is available, the price of the product, services
product. At other times, only the advertising message
associated with the product, the image of the product
or retail outlets may need to differ.
or firm, and even where and how the product is
produced
MARKETING STRATEGY Distribution is having the product available where
target customers can buy it, is essential to success.
Marketing strategy is basically the answer to the
Only in rare cases will customers go to much trouble
question, how will we provide superior customer
to secure a particular brand. Obviously, good channel
value to our target market?
decisions require a sound knowledge of where target
The answer to this question requires the formulation customers shop for the product in question
of a consistent marketing mix. The marketing mix is
Service refers to auxiliary or peripheral activities that
the product, price, communications, distribution, and
are performed to enhance the primary product or
services provided to the target market.
primary service.
It is the combination of these elements that meets
customer needs and provides customer value.
---------------------------------------------------------
Product
A product is anything a consumer acquires or might 2ND REPORTERS
acquire to meet a perceived need. Consumers are
Consumer Decisions - The consumer decision
generally buying need satisfaction, not physical
process influences the success of a company's
product attributes.
marketing strategy. It determines the outcomes of the
Communications company's marketing mix, ensuring consumers see a
Marketing communications include advertising, the need, become aware of the product, decide it's the
sales force, public relations, packaging, and any other best solution, and are satisfied with the purchase.
signal that the firm provides about itself and its The stages include problem recognition, information
products. An effective communications strategy searching, evaluation of alternatives, making the
requires answers to the following questions: decision and post-purchase evaluation. It is a base
for marketers to devise customer-oriented strategies.
1. With whom, exactly, do we want to
communicate? Product Position - The most basic outcome of a fi
2. What effect do we want our communications rm’s marketing strategy is its product position — an
to have on the target audience? image of the product or brand in the consumer’s mind
3. What message will achieve the desired effect relative to competing products and brands.
on our audience?
4. What means and media should we use to
reach the target audience?
5. When should we communicate with the
target audience?
Price is the amount of money one must pay to obtain
the right to use the product. One can buy ownership
of a product or, for many products, limited usage
rights (i.e., one can rent or lease the product, as with
a video).
It is important to note that the price of a product is not
the same as the cost of the product to the customer.
Consumer cost is everything the consumer must
Sales and profits are critical outcomes, as they are
surrender in order to receive the benefits of
necessary for the firm to continue in business.
owning/using the product.
Therefore, virtually all fi rms evaluate the success of
their marketing programs in terms of sales revenues Social Welfare Consumer decisions affect the
and profits. Sales and profits are likely to occur only if general social welfare of a society. Decisions
the initial consumer analysis was correct and if the concerning how much to spend for private goods
marketing mix matches the consumer decision (personal purchases) rather than public goods
process. (support for public education, parks, health care, and
the like) are generally made indirectly by consumers’
Customer Satisfaction Marketers have discovered
elected representatives. These decisions have a
that it is generally more profitable to maintain existing
major impact on the overall quality of life in a society.
customers than to replace them with new
customers. Retaining current customers requires The Nature of Consumer Behavior
that they be satisfied with their purchase and use of
the product. Thus, customer satisfaction is a major
concern of marketers.
Individual Outcomes
Need Satisfaction The most obvious outcome of the
consumption process for an individual, whether or
not a purchase is made, is some level of satisfaction
of the need that initiated the consumption process.

External influences are factors that affect consumer

behavior and are beyond the control of the individual.
These factors include culture, subculture,
demographics, social status, reference groups,
Injurious consumption occurs when individuals or family, and marketing activities.
groups make consumption decisions that have  Culture: Culture is a society’s personality
negative consequences for their long-run well-being.
and includes patterns of meaning acquired by
Society Outcomes members of society expressed in their
knowledge, beliefs, values, art, laws, morals,
Economic Outcomes The cumulative impact of
customs, and habits.
consumers’ purchase decisions, including the  Subculture: Subcultures are cohesive
decision to forgo consumption, is a major
groups that exist within a larger culture.
determinant of the state of a given country’s
Subcultures develop around communities
economy. Consumers’ decisions on whether to buy
that share common values, beliefs, and
or to save affect economic growth, the availability
experiences.
and cost of capital, employment levels, and so forth.  Demographics: Demographics refer to the
The types of products and brands purchased
statistical characteristics of human
influence the balance of payments, industry growth
populations such as age, gender, income
rates, and wage levels.
level, education level, occupation, and family
Physical Environment Outcomes Consumers make size.
decisions that have a major impact on the physical  Social status: Social status refers to the
environments of both their own and other societies. position or rank of an individual or group
 within a society. Social status can be Lifestyle is, quite simply, how one lives, including the
determined by factors such as income level, products one buys, how one uses them, what one
education level, occupation, and family thinks about them, and how one feels about them.
background.

Consumer decisions result from perceived
Reference groups: Reference groups are
problems and opportunities. We will use the term
groups of people that individuals compare
problem to refer both to problems and to
themselves to when making decisions about
opportunities. Consumer problems arise in specific
their behavior or attitudes.

situations and the nature of the situation influences
Family: Family is an important external
the resulting consumer behavior. Therefore, we
influence on consumer behavior. Family
provide a detailed discussion of situational
members can influence each other’s
influences on the consumer decision process.
attitudes and behaviors towards products or
services. Regulations in consumer behavior aim to protect
 Marketing activities: Marketing activities consumers from trade malpractices and
such as advertising and promotions can also substandard or hazardous products. They also
influence consumer behavior. ensure that consumers have access to accurate
information about products and services they are
Internal influences involve perception, learning interested in purchasing.
changes in long-term memory, motivation,
personality, and emotion. Attitudes are an enduring Organizations such as the National Consumer
organization of motivational, emotional, perceptual, Affairs Council (NCAC) in the Philippines are
and cognitive processes related to an environment. responsible for improving the management,
They are the way a person thinks, feels, and acts coordination, and effectiveness of consumer
towards an aspect of their environment, such as a programs.
retail store, television program, or product. Attitudes The Meaning of Consumption
are heavily influenced by external and internal
factors, shaping how individuals perceive, respond, The study of consumer behavior examines how
and act towards their environment. consumers choose what they buy, need, want, or do
in relation to a given good or service or business.
 Perception refers to how consumers Consumption, which refers to the process of
interpret information from their environment. consuming up products and services by consumers,
 Motivation is the driving force behind why is a basic component of consumer behavior. The
consumers make certain decisions. social, economic, and cultural views all have an
 Memory refers to a consumer’s ability to impact on this complicated phenomena.
understand marketing messages and assign
them value and meaning.
 Personality is an internal evaluation
expressed outwardly about a person, object
or issue.
 Emotions are feelings that influence how
consumers think and behave.
 Attitudes are internal evaluations expressed
outwardly about a person, object or issue.
Self-concept is the totality of an individual’s
thoughts and feelings about him- or herself.
The Concept of Culture Extended/Limited Family
Culture is the complex whole that includes  To what extent does one have a life-
knowledge, belief, art, law, morals, customs, and any long obligation to numerous family
other capabilities and habits acquired by humans as members?
members of society.  Extended family critical in
South/Central America
Culture values give rise to norms and associated
sanctions, which in turn influence consumption
Masculine/ Feminine
patterns.
 To what extend does social power
Cultures are not static. They typically evolve and
change slowly over time. automatically go to power?

Competitive/ Cooperative

 Does one obtain success by excelling

over others or by cooperating with
them?

Diversity/ Uniformity

 Does the culture embrace variation

in religious belief, ethnic
backgrounds, political views, and
Variations in Cultural Values
other important behaviors and
The numerous values that differ across cultures and attitudes?
effect consumption include:
 Environment-Oriented Values
 Other-Oriented Values  Prescribe a society’s relationship to its
 Reflect a society’s view of the appropriate economic and technical as well as its
relationship between individuals and physical environment
groups within that society. Cleanliness
 To what extent is cleanliness pursued
Individual/Collective beyond the minimum needed for health?

Performance, Status
Are individual activity and initiatives  Is the culture’s reward system based on
valued more highly than collective
activity and conformity performance or on inherited factors such
 Asian culture more collective U.S as family or class?
culture more individualistic (eating Tradition, Change
alone) (China age differenced)
 Is tradition valued simply for the sake of
Youth/Age tradition? Is change or progress and
acceptable reason for altering
 Is family life organized to meet the established patterns?
needs of the children or the adults  A focus on technology as an indicator of
 Are younger or older people viewed as
change illustrates some dramatic
leaders and role models?
 differences across cultures that show the  To what extent is it acceptable to enjoy
following: sensual pleasures such as food, drink,
and sex?
 Cultures differ in their acceptance of
sensual gratification.
Material/Nonmaterial
 How much importance is placed on
acquiring material wealth? (Televisions
and Chinese)
 There are two kinds of materialism:
 The acquisition of items to enable one to
perform something is known as
Risk Taking, Security Instrumental materialism.
 Terminal materialism is the acquisition
 Are those who risk their established
positions to overcome obstacles or of items solely for the purpose of owning
achieve high goals admired more than the object.
those who do not? Hard work/Leisure
 A society that does not admire risk taking Is a person who works harder than
is unlikely to develop enough economically necessary admired more
entrepreneurs to achieve economic than one who does not?
change and growth. Postponed gratification/ immediate
Problem solving, Fatalistic gratification
 Are people encouraged to “save for a
 Are individuals urged to solve every issue,
or do they adopt a "what will be, will be" rainy day” or to “live for today”?
mentality? Religious/ Secular
 To what extent are behaviors and
 Exists a positive, "we can do it" attitude?
 Mexico and the Middle Eastern nations attitudes based on the rules specified by
lean more towards the fatalistic end of a religious doctrine?
the spectrum.
Nature ---------------------------------------------------------
 Is nature regarded as something to be 3RD REPORTERS
admired or overcome?
• Self-Oriented Values
 Reflect objectives and approaches to life CULTURAL VARIATIONS IN NONVERBAL
that the individual members of society COMMUNICATIONS
find desirable. • Differences in verbal communication
Active/Passive systems (languages) are immediately
 Is a physically active approach to life • obvious to anyone entering a foreign culture.
valued more highly than a less active
These differences pertains to pronunciation,
orientation
timing, and meaning.
Sensual gratification/ Abstinence
TRANSLATION PROBLEMS IN INTERNATIONAL Space
MARKETING The use people make of space and the
• Pet milk encountered difficulties in French- meanings they assign to their use of space constitute
speaking countries where pet means, among a second form of nonverbal communication. In
other things, “to break wind.” America, “bigger is better.” Thus, office space in
• Kellogg’s Bran Buds translates to “burned corporations generally is allocated according to rank
farmer” in Swedish. or prestige rather than need. The president will have
• China attempted to export Pansy brand the largest office, followed by the executive vice
men’s underwear to America. president, and so on.
• American Airlines introduced its new leather A second major use of space is personal
first-class seats in Mexico with the theme space. It is the nearest that others can come to you in
“Fly in Leather” which, when translated various situations without your feeling
literally, read “Fly Naked.” uncomfortable. In the United States, normal
business conversations occur at distances of 3 to 5
Additional communication factors that can cause feet and highly personal business from 18 inches to 3
problems include humor, style, and pace, for which feet. In parts of northern Europe, the distances are
preferences vary across cultures, even those slightly longer.
speaking the same basic language.
Symbol
Nonetheless, verbal language translations generally An American seeing a baby wearing a pink
do not present major problems as long as we are outfit would most likely assume the child to be
careful. What many of us fail to recognize, however, is female. If the outfit were blue, the assumed gender
that each culture also has nonverbal communication would be male. Colors, animals, shapes, numbers,
systems or languages that, like verbal languages, are and music have varying meanings across cultures.
specific to each culture. Examples:
• White - Symbol for mourning or death in the
NONVERBAL COMMUNICATIONS Far East; purity in the United States.
Time • Purple - Associated with death in many Latin
The meaning of time varies between cultures in two American countries.
major ways: • Blue - Connotation of femininity in Holland;
Time Perspective masculinity in Sweden, United States.
• Monochronic Time Perspective - Most • Red - Unlucky or negative in Germany;
Americans, Canadians, Western Europeans, positive in Denmark, Argentina.
and Australians tend to view time as • Yellow flowers - Sign of death in Mexico;
inescapable, linear, and fixed in nature. It is a infidelity in France.
road reaching into the future with distinct, • White lilies - Suggestion of death in England.
separate sections (hours, days, weeks) • The #7 - Unlucky number in Singapore; lucky
• Polychronic Time Perspective - Most Latin in Morocco, India, United States.
Americans, Asians, and Indians tend to view • Triangle - Negative in Hong Kong, Korea,
time as being less discrete and less subject Taiwan; positive in Colombia
to scheduling. • Owl - Wisdom in the United States; bad luck
in India.
 • Deer - Speed, grace in United States; For example:
homosexuality in Brazil. • Giving a Chinese business customer or
distributor a nice desk clock—a common gift
Relationship in many countries—would be inappropriate.
The rights and obligations imposed by relationships o Why? In China, the word for clock is
and friendship are another nonverbal cultural similar to the word for funeral, making
variable. As the following quote indicates, friendship clocks inappropriate gifts.
and business are deeply intertwined in most of the • A gift of cutlery is generally inappropriate in
world: Russia, Japan, Taiwan, and Germany.
• To most Asians and Latin Americans, good • In Japan, small gifts are required in many
personal relationships and feelings are all business situations, yet in China they are less
that really matter in a long-term agreement. appropriate.
After all, the written word is less important • In China, gifts should be presented privately,
than personal ties. but in Arab countries, they should be given in
• In many countries the heart of the matter, the front of others.
major point of the negotiations, is getting to
know the people involved. Americans Etiquette
negotiate a contract; the Japanese negotiate Etiquette represents generally accepted ways of
a relationship. In many cultures, the written behaving in social situations.
word is used simply to satisfy legalities. For Example:
• American is preparing a commercial that
Agreements shows people eating an evening meal, with
Americans rely on an extensive and, generally, highly one person about to take a bite of food from a
efficient legal system for ensuring that business fork. The person will have the fork in the right
obligations are honored and for resolving hand, and the left hand will be out of sight
disagreements. Many other cultures have not under the table. To an American audience this
developed such a system and rely instead on will seem natural. However, in many
relationships, friendship, and kinship; local moral European cultures, a well-mannered
principles; or informal customs to guide business individual would have the fork in the left hand
conduct. and the right hand on the table.
For Example: Behaviors considered rude or obnoxious in one
• Under the American system, they would culture may be quite acceptable in another.
examine a proposed contract closely.
• Under the Chinese system, they would GLOBAL CULTURES
examine the character of a potential trading Global culture is a culture that is shared by many
partner closely. worldwide and is based on western ideals on
consumption and attitudes towards the physical
Things environment.
The differing meanings that cultures attach to things, Example:
including products, make gift giving a particularly • Social Media
difficult task. • Business
• Sports
 • Holidays different from the marketer's own culture or from the
• Fashion culture of its main customer base.
• Language
• Food Cross-Cultural Marketing Features
• Cosmopolitanism Cross-cultural marketing has a number of unique
features that set it apart from other types of
How are we a global culture? marketing. One of its most central unique features is
The era of globalization has created a global culture a focus on cultural diversity. Within the context of
where people around the world share experiences, cross-cultural marketing, the term diversity is
ideas, norms, and symbols that unite them. Music, typically defined as the incorporation of people with
movies, clothes, and phones in the era of a variety of races, ethnicities, cultures, genders,
globalization are designed to appeal to a global sexual orientations, religions, and national origins.
market. This has helped to create global Example:
interconnectedness. • Global scope
• Use of cultural elements
GLOBAL DEMOGRAPHICS • Recognition of cultural differences
An important set of factors that should not be
overlooked in attempting to understand and respond GROUP INFLUENCES ON CONSUMER BEHAVIOR
to consumers is demographics. Such variables as Group influences on consumer behavior refer to the
age, sex, income, education, marital status, and impact that social groups, such as family, friends,
mobility can all have significant influence on reference groups, or online communities, have on an
consumer behavior. People in different income individual's purchasing decisions.
brackets also tend to buy different types of products
and different qualities. Thus, various income groups Type of Groups
often shop in very different ways. This means that Reference Groups: People often compare
income can be an important variable in defining the themselves to reference groups and may be
target group. influenced by the preferences and behaviors of those
Example: they identify with.
• Social Class 4 criteria thet are particularly useful:
• Family Influences • Membership
• Family Lifecycle • Strength of social tie
• Age Cohorts & Generations o 2 types of social group:
▪ Primary and Secondary group
CROSS-CULTURAL • Type of contact
MARKETING STRATEGY • Attraction
Cross-cultural marketing involves advertising to Aspirational Groups: Some individuals are
people in specific cultures as well as appealing to influenced by aspirational groups, which represent
personal interests across cultures. It is also refers to the type of people they want to become and the
the process of creating and implementing marketing associated products or lifestyles.
strategies that are tailored to the needs and
preferences of consumers from a culture that is
CONSUMPTION SUBCULTURES ONLINE COMMUNITIES AND SOCIAL NETWORKS
Consumption subcultures refer to groups of An Online community is a community that interacts
individuals who share a common interest or passion over time around a topic of interest on the Internet.
for particular products, brands, or consumption Example: Forums, discussion boards, chat rooms,
patterns. These subcultures are often characterized social media groups, and more.
by their distinct values, attitudes, and behaviors Social networks are websites and apps that allow
related to consumption. People within these users and organizations to connect, communicate,
subcultures may bond over their shared interests and share information and form relationships.
engage in activities that revolve around their preferred Example: Facebook, Twitter, Instagram, LinkedIn, and
products or lifestyles. These groups have an many others allow individuals to create profiles,
identifiable, hierarchical social structure, a set of connect with friends and acquaintances, and share
shared beliefs or values; and unique jargon, rituals, personal updates, photos, and other content.
and modes of symbolic expression.
MARKETING IN ONLINE COMMUNITIES AND
MARKETING AND CONSUMPTION SOCIAL NETWORKS
SUBCULTURES Marketing in online communities and social networks
Marketing often plays a crucial role in understanding is possible and potentially beneficial. It involves the
and catering to consumption subcultures. the use of these digital platforms to promote products,
synergy between marketing and consumption services, brands, or ideas to a targeted audience.
subcultures allows companies to understand,
engage with, and profit from these niche consumer Marketing In Online Communities and Social
groups by delivering products and experiences that Networks
align with their unique identities and interests. Four Guiding Principles:
1. Transparent - In online communities it is
BRAND COMMUNITIES critical that companies identify themselves
Brand communities are groups of individuals who and any posted content as such. Marketers
share a strong, emotional connection and loyalty to a who fail to do so risk being found out and
particular brand or product. These communities subject to massive criticism from the
often form organically around a brand due to shared community.
values, interests, and experiences related to the 2. Be a part of the community - Online
brand. Brand communities are particularly important communities often expect that the company
in the age of social media and online engagement, as will be part of the community and not just
they can amplify the reach and influence of a brand. market to it.
Companies often invest in building and nurturing 3. Adapt marketing efforts to fit the nature of the
these communities to foster stronger brand loyalty site - Some sites are more commercially
and customer relationships. oriented and thus more traditional forms of
Nature of brand communities banner ads and commercial content are
• Consciousness of kind accepted and even welcomed.
• Rituals and Traditions 4. Take advantage of the unique capabilities of
• Moral responsibility each venue - Many of the social network sites
have special areas for corporate advertising
 and activities that extend beyond traditional
banner and pop-up ads.

REFERENCE GROUP INFLUENCES ON THE

CONSUMPTION PROCESS
Reference group influence, also known as peer group
influence, is a social psychological concept that
refers to the impact that individuals or groups have on
the attitudes, behaviors, and decisions of others.
Three Forms of influences:
1. Informational influence - occurs when an
individual uses the behaviors and opinions of
reference group members as potentially
useful bits of information.
2. Normative influence - sometimes referred to
as utilitarian influence, occurs when an
individual fulfills group expectations to gain a
direct reward or to avoid a sanction.
3. Identification influence - also called value-
expressive influence, occurs when
individuals have internalized the group’s
values and norms.

MARKETING STRATEGIES BASED ON REFERENCE

GROUP INFLUENCES
Marketing strategies based on reference group
influences focus on leveraging the impact of
reference groups to influence consumer behavior.
Two Strategies:
1. Personal sales strategies - are techniques
and approaches used by sales professionals
to successfully promote and sell products or
services to potential customers.
2. Advertising strategies - are carefully planned
and executed approaches used by
businesses and organizations to promote
their products, services, or messages to a
target audience.