Consumer Behaviour Explained: Key Concepts, Market Segmentation and Cultural Influences
1. Consumer Behaviour
Consumer behaviour is the study of how consumers select, buy, use and dispose of products and services.
Significance: It helps companies understand needs, develop products, set prices, promote products and satisfy customers.
Consumer and Market
Consumer: A person who buys or uses goods and services.
Market: A group of actual and potential buyers who have a need and the ability or willingness to buy.
Difference Between Individual and Organisational Buying
Individual
- Personal use
- Smaller
Mastering Global Business and Digital Marketing Strategies
Core Marketing and Business Actions
- Target – Identify and focus on a specific audience
- Engage – Capture attention and build relationships
- Influence – Shape opinions or behaviors
- Promote – Advertise or publicize a product/service
- Analyze – Examine data for insights
- Optimize – Improve performance or efficiency
- Monitor – Track progress or results
- Convert – Turn prospects into customers
- Segment – Divide audiences into meaningful groups
- Brand – Create a distinct identity
- Position – Define
Purpose and content of
The shift from Web 1.0 to Web 2.0 occurred as the internet became more interactive. Instead of consuming info on static websites, users began creating, sharing, and modifying content. New tech. Such as blogs, wikis, and social networking sites encouraged participation, collaboration, and user-generated content. || sociological theories:
Durkem –
online behavior follows social norms, weber – likes and shares are oriented thowards others, tonies – explains online comms n social relationships, marxs
Digital Marketing Fundamentals: Essential Concepts and Strategies
Section 2: Short Answer Questions (2 Marks Each)
1. Define Digital Marketing
Digital Marketing is the practice of promoting products, services, or brands using electronic devices, digital channels, and the internet. It encompasses strategies like SEO, social media marketing, email marketing, and pay-per-click advertising to reach and engage targeted audiences online.
2. What is SEO?
SEO stands for Search Engine Optimization. It is the process of optimizing a website’s structure, content, and online
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What Is Communication?
Communication is the creation and exchange of meaning. It involves sending and receiving messages through verbal and non-verbal transmissions. This can include writing, graphical representations, signs, signals, and behavior. Communication can occur between animals and humans.
Core Elements of Communication
- Sender: The source of the message.
- Encoding: The process of converting ideas into a message.
- Message: The information being conveyed.
- Receiver: The recipient of the message.
- Decoding:
Strategic Innovation Management Framework
Process 2: Innovation Strategy Planning
Objective: Ensure innovation strategy is aligned with business and sustainability goals.
- KR1: Approve and publish strategy in Q2.
- KR2: Define 5 strategic innovation focus areas.
KPI: % alignment with corporate objectives, number of key results defined and tracked, budget executed to strategic innovation initiatives.
Input: Strategic goals, mission and CSR, insights from exploration phase, stakeholder needs and expectations, internal capabilities and resources,
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