Consumer Behavior: Psychology, Trends, and Ethics
Understanding Consumer Behavior
Consumer Behavior is the study of individuals and groups and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy their needs and desires.
It is a multidisciplinary field that draws insights from psychology, sociology, economics, and marketing.
The Business Value of Consumer Insights
Marketing seeks to satisfy consumer needs and wants. To achieve this, companies must learn how people act. Understanding the
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Key Performance Indicators in Retailing
Important Key Performance Indicators (KPIs) in retailing include like-for-like revenue, the Cash Conversion Cycle, and the Customer Conversion Rate.
1. Like-for-Like Revenue
Definition: This metric measures sales growth in the same stores or channels compared to the previous year. It reflects organic growth, excluding the impact of new store openings, closures, or other structural changes.
2. Cash Conversion Cycle (CCC)
Definition: The CCC represents the time (
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Public Relations and Lobbying
Public Relations
Public relations (PR) is about creating and maintaining a positive image and strong relationships between an organisation and the public. It helps organisations communicate effectively and engage with public authorities. PR firms assist companies in building a reputable image and gaining public trust.
Media Relations
Media relations are a vital component of public relations. PR agencies help organisations work with the media by building strong relationships
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Marketing Fundamentals
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and managing customer relationships to benefit the organization and its stakeholders.
- Seller Market: Competition between buyers.
- Buyer Market: Competition between sellers.
Marketing Strategy and Goals
Marketing Strategy: Manipulating a target group’s behavior.
Marketing Goals: Economic and psychographic.
Strategic Direction:
- Market development and penetration.
Integrated Marketing Communication and Advertising Exam
Integrated Marketing Communication and Identity
1. Which of the following statements refers to integrated communication?
b) Coordinates communication variables with marketing mix variables.
2. When referring to the raison d’être as the personality and essence of an organization, we are talking about:
c) Corporate identity.
3. Point out the correct answer in relation to the causes of the rise of commercial communication:
d) All of the above are correct.
4. Which stages of the purchase decision process
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Fundamentals of Marketing Management
Marketing: The process of creating, offering, and exchanging value to satisfy needs at a profit.
Marketing Management: The managerial process of creating, communicating, and delivering value to a target market in order to achieve profit.
CCDVTP (Kotler): Create, communicate, and deliver value to a target market at a profit.
Holistic Marketing Approach (Kotler): States that marketing must be designed and managed as an integrated system, where all marketing activities