6. Publics: a public is any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives. There are seven kinds of publics that the company should be aware of: financial publics; media publics; government publics; citizen-action publics; general public and internal publics.
2. Type of consumer goods.
1. Convenience goods: soap, candy, newspapers and fast food.
2. Shopping good: furniture, clothing, used cars.
3. Specialty products: luxury and vintage cars, jewelry.
4. Unsought goods: coffins, cemetery plots and insurance.
3. Buying decision process and factors affecting buying behavior.
Buying decision process: problem recognition ------- information search ------ evaluation of alternatives
----- Purchase decision ------ post-purchase behavior.
Factors affecting buyer behavior it include: cultural influences, social influences, personal factors and psychological factors.
4. Explain environmentalism concept.
Companies operate in complex environment, consisting of uncontrollable forces to which the company must adapt. This environment products both threats as well as opportunities. This company must carefully analyze its environment so as to capitalize on the opportunities and avoid the threats.
5. Types of market segmentation.
1. Geographic segmentation
2. Demographic segmentation
3. Psychographic segmentation
4. Behavioral segmentation
6. Elements/ factors that drive business and marketing changes.
1. The new digital age
2. Rapid globalization
3. More ethics and social responsibility
4. Growth of not-for-profit marketing
5. The new world of marketing relationship.
7. Identify and discuss the reasons to have new product.
First, because all products eventually decline, a firm must be good at development new products to replace aging ones.
Second, the firm must be good at adapting its marketing strategies in the face of changing tastes, technologies, and competition as products pass through life-cycle stages.
