Group Members (Last Name, First Name)
Class: MKTG 610
Quiz 4
- This chapter argues that influencing overt consumer behavior is more critical for marketers than influencing only affect and cognition. Do you agree? Why or why not?
Marketers recognize the importance of focusing on consumer’s overt behavior aside from effect and cognition. The reason is that a client could change their feelings and thoughts about a product and a service and choose not to act. When a customer is not convinced, the seller is likely to incur losses. A seller should utilize affect and cognition as an intermediate strategy for impacting changing consumer behavior. Clients must demonstrate commitment through store and products, as this assures a marketer of continuity of business.
Dealers often use unique branding to attract clients, but it translates to more losses on expenditure if they fail to purchase anything. A salesperson must maintain a specific overt behavior level among clients (Peter & Olson,1990). However, a seller needs to monitor customer response as an increase over the optimal level could result in losses. The advertising techniques that a marketer uses to inform clients on a product highly influence overt behavior. The ad ought to capture the emotion and also give the customer adequate reasons for buying the product. Apart from advertising, a seller ought to identify a reliable market mix element that could influence a customer’s overt behavior. Clients are always conscious of the consequence of behavior change. People process information and then make a decision. In this regard, a marketer should capture affect and cognition to attain a complete change of behavior. Once a dealer successfully impacts customer overt behavior, he/she also concurs cognition concerning price formation and contract transaction.
- Consider the distinction between macro and micro environments for grocery shopping. Which of these is more important for marketing strategy?
Grocery dealers sell products such as vegetables, fruits, cosmetics, food items, and pharmaceuticals. The macro and microenvironment for grocery shopping differ from one another. The factors that influence the market at a vital level represents the macro environment. The characteristics of macro indicators include legal, political, technological, social, and economic factors. The owner of a grocery shopping ought to comprehend that the macro-environmental factors highly impact customers’ behavior. For example, political stability could change how clients view the location and way of running a business.
Economic issues, such as the availability of employment opportunities, directly affect customer purchasing behavior. When customers have a paying job, they acquire a high purchasing power, which translates to an increase in buying behavior. Technology also shapes the creation of products and services. For example, wireless communication changed how dealers share information with target clients (Peter & Olson, 1990). Smartphone technology is one of the innovations that exert pressure on customers to purchase products and services. The micro factors influencing grocery shopping include competition, clients, suppliers, and the public. For example, the relationship between the company and clients high impact delivery of products to clients. Similarly, a store achieves profits by focusing on customer experience.
Macro-economic factors are critical for marketing strategy, as they influence pricing, aggregate production, and spending. The grocery shopping marketers have to analyze these factors before making any decision on marketing approaches. The factors determine the economy’s general behavior, especially the production and distribution of staple products and services.
- Select a product of your choice and discuss two implications of your analysis for developing marketing strategies for that product.
Customers always look forward to purchasing a new smartphone owing to consistency in technology and innovation in communication. The marketing strategy of a new mobile phone would involve an analysis of the four Ps. The aspects include product, price, place, and promotion. An understanding of these aspects would ensure that a smartphone dealer knows the target market. It includes demographics such as age, gender, and income level of the target clients (Arab, 2018). The analysis would also illustrate the behavior of the expected clients towards the product. For example, young people require a simplified payment method and the possibility of delivering the item to their location despite space and time.
The analysis of 4Ps would also enable communication of the value of the item to the target customers. The seller ought to explain the product to facilitate differentiation from existing items in the market (Arab, 2018). The customer needs to be able to make a decision, especially when other smartphones are available in the market. For this reason, clients need to know that there is something different that they would gain from buying the smartphone on sale.
References
Arab, N. (2018). Relationship between Brand Equity and 4Ps of Marketing Mix-Place, Product, Promotion, & Price: Coca-Cola-Consumer Based Qualitative Survey. https://mpra.ub.uni-muenchen.de/85086/
Peter, J., & Olson, J. C. (1990). Consumer behavior and marketing strategy (No. 658.8342 P4416c Ej. 1). IRWIN.