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Solution for Advertising and Promotion: An Integrated Marketing Communications Perspective 10th Edition Chapter 4, Problem 1

by George E. Belch, Michael A. Belch
343 Solutions 22 Chapters 53903 Studied ISBN: 9780078028977 Art and Architechture 5 (1)

Chapter 4, Problem Additional_Discussion_Questions 1 : 11.Why is understanding consumer behavior of such importance...

11.Why is understanding consumer behavior of such importance to marketers? Give examples of how               marketers apply their understanding of consumer behavior to their marketing strategies. (LO1)

 

Step-By-Step Solution

11.

When marketers moved from a sales orientation to a marketing orientation, it became necessary to               have a more in-depth understanding of the consumer. Rather that developing products and then               trying to push them onto consumers, marketers’ shifted their focus more to understanding               consumers’ needs and wants and developing products and services to satisfy them.

As the field of consumer behavior has expanded, marketer’s have increased their efforts by including               different forms of psychology (social, physiological, etc.) into their studies as well as sociology,               cultural anthropology and geography, among others. Simply put, the more we can understand               consumers, the better we can successfully develop products and services to better meet their needs               and wants.

An excellent example of this lies in the fact that many of today’s consumers are “money rich and time poor.” That means that they have disposable income, but less time as a result of their busy               lifestyles, changing family structures, etc. By understanding this, marketers have been able to better               develop products and services that meet the new needs of consumers, and a profit to them. (LO5)

 

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