Understanding Business Market Approaches and Consumer Behavior
ITEM 3
Approaches to Business Market Production Orientation: The Industrial Revolution is characterized by the notion that all produced goods are sold. This approach prevails in the Cat PV, where new products are sold without much difficulty. Product Orientation: Since the first half of the nineteenth century, it has been understood that all products produced with a certain degree of quality will be sold at an acceptable price. Signpost Sales: Economic growth since the second half of the nineteenth century indicates that a good sales network is the solution to output production in an environment of increased competition. Marketing Orientation: Achieving long-term goals, marketing is often used synonymously with activities related to advertising, sales, and market research. However, it can carry negative connotations, as it may involve misleading advertising or the artificial creation of needs, leading to dissatisfaction among citizens who cannot purchase what advertising makes them desire. Fictitious needs are created, inviting consumers to buy products that may not be the best fit for them. Real marketing focuses on the client, aiming to align business activities with what people want or need, which is essential for the survival of companies. True marketing is practiced daily by entities that strive to be innovative and stay ahead of competitors in the market. Different Conceptions of Marketing: Marketing can be categorized into several specializations:
- Political: Ensuring that certain groups collaborate to achieve objectives related to specific ideas.
- Election: Referring to activities during a campaign.
- Social: Aiming to benefit society as a whole.
- Public: A set of activities designed to meet social needs.
- Non-profit Institutions: Focused on serving the community without seeking profit.
Specialty marketing applies to certain sectors, including International (techniques involving parties from different countries), Services (essential marketing for special services), Industrial (activities between companies), and Food (involving the exchange of products and services in the agro-food sector). The Functions of Marketing Management: This includes analyzing the starting point, designing strategies, implementing actions, and controlling results. Model Explaining the Psychosocial Approach to Consumer Behavior: An individual’s behavior is influenced by economic and other internal and external factors. The motivational approach suggests that behavior depends on the motivations behind actions. The equation can be summarized as: External Variables + Company Actions + Internal Variables = Consumer Purchase Decision Content. Factors That Determine Consumer Behavior:
- Cultural Factors: Cultural and social class influences.
- Social Factors: Reference groups.
- Personal Factors: Age, life cycle position, occupation, economic conditions, personality, self-image, and lifestyle.
- Psychological Factors: Motivation, perception, learning, and attitude.
Sources of Information: Primary sources provide original information obtained for the first time, while secondary sources offer existing data.
Internal sources are derived from within the company, while external sources often come from outside the company.