project on small car marketing-nano
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Small Car Marketing-NanoCHAPTER 1: MARKETING INTRODUCTION:Marketing. Several definitions have been proposed for the term marketing.Each tends to emphasize different issues. Memorizing a definition is unlikely to be useful; ultimately, it makes more sense to thinking of ways to benefit from creating customer value in the most effective way, subject to ethical and other constraints that one may have. The 2006 and 2007 definitions offered by the American Marketing Association are relatively similar, with the 2007 appearing a bit more concise. Note that the definitions make several points: A main objective of marketing is to create customer value. Marketing usually involves an exchange between buyers and sellers or between other parties. Marketing has an impact on the firm, its suppliers, its customers, and others affected by the firms choices. Marketing frequently involves enduring relationships between buyers, sellers, and other parties. Processes involved include creating, communicating, delivering, and exchanging offerings.Delivering customer value . The central idea behind marketing is the idea that a firm or other entity will create something of value to one or more customers who, in turn, are willing to pay enough (or contribute other forms of value) to make the venture worthwhile considering opportunity costs. Value can be created in a number of different ways. Some firms manufacture basic products (e.g., bricks) but provide relatively little value above that. Other firms make products whose tangible value is supplemente d by services (e.g., a computer manufacturer provides a computer loaded with software and provides a warranty, technical support, and software updates). It is not necessary for a firm to physically handle a product to add value e.g., online airline reservation systems add value by (1) compiling information about available flight connections and fares, (2) allowing the customer to buy a ticket, (3) forwarding billing information to the airline, and (4) forwarding reservation information to the customer. It should be noted that value must be examined from the point of view of the customer. Some customer segments value certain product attributes more than1
Small Car Marketing-Nanoothers. A very expensive product relative to others in the categorymay, in fact, represent great value to a particular customer segment because the benefits received are seen as even greater than the sacrifice made (usually in terms of money). Some segments have very unique and specific desires, and may value whatto some individualsmay seem a lower quality itemvery highly.
Some forms of customer value. The marketing process involves ways thatvalue can be created for the customer. Form utility involves the idea that the product is made available to the consumer in some form that is more useful than any commodities that are used to create it. A customer buys a chair, for example, rather than the wood and other components used to create the chair. Thus, the customer benefits from the specialization that allows the manufacturer to more efficiently create a ch air than the customer could do himself or herself. Place utility refers to the idea that a product made available to the customer at a preferred location is worth more than one at the place of manufacture. It is much more convenient for the customer to be able to buy food items in a supermarket in his or her neighborhood than it is to pick up these from the farmer. Time utility involves the idea of having the product made available when needed by the customer. The customer may buy a turkey a few days before Thanksgiving without having to plan to have it available. Intermediaries take care of the logistics to have the turkeyswhich are easily perishable and bulky to store in a freezeravailable when customers demand them. Possession utility involves the idea that the consumer can go to one store and obtain a large assortment of goods from different manufacturers during one shopping occasion. Supermarkets combine food and other household items from a number of different suppliers in one place. Certain supersto res such as the European hypermarkets and the Wal-Mart super centers combine even more items into one setting.
Small Car Marketing-Nano
Consumer Behaviour:Consumer behaviour involves the psychological processes that consumers go through in recognizing needs, finding ways to solve these needs, making purchase decisions (e.g., whether or not to purchase a product and, if so, which brand and where), interpret information, make p lans, and implement these plans (e.g., by engaging in comparison shopping or actually purchasing a product).
Sources of influence on the consumer. The consumer faces numeroussources of influence.
Often, we take cultural influences for granted, but they are significant. An American will usually not bargain with a store owner. This, however, is a common practice in much of the World. Physical factors also influence our behavior. We are more likely to buy a soft drink when we are thirsty, for example, and food manufacturers have found that it is more effective to advertise their products on the radio in the late afternoon when people are getting hungry. A persons self-image will also tend to influence what he or she will buyan upwardly mobile manager may buy a flashy car to project an image of success. Social factors also influence what the consumers buy often, consumers seek to imitate others whom they admire, and may buy the same brands. The social environment can include both the mainstream culture (e.g., Americans are more likely to have corn flakes or ham and eggs for breakfast than to have rice, which is preferred in many Asian countries) and a subculture (e.g., rap music often appeals to a segment within the p opulation that seeks to distinguish itself from the mainstream population). Thus, sneaker manufacturers are eager to have their products worn by admired athletes. Finally, consumer behavior is influenced by learningyou try a hamburger and3
Small Car Marketing-Nanolearn that it satisfies your hunger and tastes good, and the next time you are hungry, you may consider another hamburger.Consumer Choice and Decision Making: Problem Recognition. One model of consumer decision making involves several steps. The first one is problem recognitionyou realize that something is not as it should be. Perhaps, for example, your car is getting more difficult to start and is not accelerating well. The second step is information searchwhat are some alternative ways of solving the problem? You might buy a new car, buy a used car, take your car in for repair, ride the bus, ride a taxi, or ride a skateboard to work. The third step involves evaluation of alternatives. A skateboard is inexpensive, but may be ill suited for long distances and for rainy days. Finally, we have the purchase stage, and sometimes a post-purchase stage (e.g., you return a product to the store because you did not find it satisfactory). In reality, people may go back and forth between the stages. For example, a person may resume alternative identification during while evaluating already known alternatives.
Consumer involvement will tend to vary dramatically depending on the type of product. In general, consumer involvement will be higher for products that are very expensive (e.g., a home, a car) or are highly significant in the consumers life in some other way (e.g., a word processing program or acne medication). It is important to consider the consumers motivation for buying products. To achieve this goal, we can use the Means-End chain, wherein we consider a logical progression of consequences of product use that eventually lead to desired end benefit. Thus, for example, a consumer may see that a car has a large engine, leading to fast acceleration, leading to a feeling of performance, leading to a feeling of power, which ultimately improves the consumers self esteem. A handgun may aim bullets with precision, which enables the user to kill an intruder, which means that the intruder will not be able to harm the consumers family, which achieves the desired end -state of security. In advertising, it is important to portray the desired end -states. Focusing on the large motor will do less good than portraying a successful person driving the car.
Small Car Marketing-Nano
Consumer Research Methods:
Market research is often needed to ensure that we produce what customersreally want and not what we think they want.
Primary vs. secondary research methods. There are two mainapproaches to marketing. Secondary research involves using information that others have already put together. For example, if you are thinking about starting a business making clothes for tall people, you dont need to question people about how tall they are to find out how many tall people exist that information has already been published by the U.S. Government. Primary research, in contrast, is research that you design and conduct yourself. For example, you may need to find out whether consumers would prefer that your soft drinks be sweater or tarter. Research will often help us reduce risks associated with a new product, but it cannot take the risk away entirely. It is also important to ascertain whether the research has been complete. For example, Coca Cola did a great deal of research prior to releasing the New Coke, and consumers seemed to prefer the taste. However, consumers were not prepared to have this drink replace traditional Coke.
Small Car Marketing-Nano
THE 5Ms OF MARKETINGThe five Ms of advertising provide a framework by which you can create an advertising platform. First, the firm must decide what the purpose of the advertisements will be. This is called the mission. Monetary constraints usually determine how large any project can be. This is the money aspect o