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Consumer Regulation The Marketing Mix and Consumer Behaviour

Consumer Regulation The Marketing Mix and Consumer Behaviour. Week 4 – 2/3. PLUS. Patents Health and Safety Finance Act. The Regulatory Environment. The four Ps (four Cs) approach Product - Liability Trademarks Trade Descriptions Price - Unit pricing Resale Price Maintenance

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Consumer Regulation The Marketing Mix and Consumer Behaviour

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  1. Consumer Regulation The Marketing Mix and Consumer Behaviour Week 4 – 2/3

  2. PLUS • Patents • Health and Safety • Finance Act

  3. The Regulatory Environment • The four Ps (four Cs) approach • Product - Liability Trademarks Trade Descriptions • Price - Unit pricing Resale Price Maintenance • Place - arrangements with distributors - Silhouette Cartels • Promotion - Trade Descriptions Act, Advertising Issues ITC ASA

  4. Marketing Environment Session 5 Social Responsibilities Key terms Societal Marketing Ethics Codes of practice Balanced scorecard approach

  5. Codes of Ethics • AMA • CIM • CBI

  6. Encouraging Environmental Concern • Government actions • Supply chain pressures • External pressures • Self regulation

  7. What is the relevance of social responsibility for the following • Confectionery manufacturer • Oil company • Car manufacturer • Furniture retailer • Mobile phone operator • Supermarket operator

  8. Social Criticisms of Marketing • High prices • High costs of distribution • High advertising/promotional costs • Excessive mark ups • Deceptive practices • misleading advertising • High - pressure selling • Shoddy / unsafe products • Planned / inbuilt obsolescence • Penalising the disadvantaged

  9. Marketing’s impact on society • Encouraging materialism • Imbalance between private and public goods - social goods BUPA versus NHS • Cultural pollution • Abuse of industry power

  10. Consumers’ rights • Information • Protection • Safety • Heard KENNEDY

  11. Basic Framework Motivation Perception Search Evaluation Choice Learning

  12. The Product Onion • The Actual Product • The Extended Product • The Augmented Price

  13. The Marketing Mix • Price • All customers have some idea – a perception - about how much a product will cost them to buy • It may be ridiculous low in which case the promotion needs to clearly demonstrate the value • It may be perceived as being higher than it actually is / needs to be often when people do not understand the contents of the product – mystery in some technology • Keep the price to give maximum value • Increase the price to maximise value and provide investment in the future.

  14. The Marketing Mix • Promotion • D • R • I • P

  15. The Marketing Mix • Place Chapter 17 • After the product selection has taken place the decision of where / how to buy will be made often part of the search • Consumers will have learned behaviour always go to a shop which has good service and knowledgeable staff • Many people will have since only 2000 consider the internet as a serious credible option and TRUSTED eg Amazon started in books , cds easy to post have now moved onto other products – higher value often customers expect lower prices but also value the speed of service – delivery • RETAIL DISTRIBUTION IS AN INTANGIBLE PRODUCT

  16. Creative Aspects • Humour • Size • Position • Association like the message like the product • Film – Movie style – life style • Music

  17. The Marketing Mix • Promotion • A • I • D • A • (Strong 1925)

  18. The Marketing Mix • Promotion • Hierarchy of Effects • (Lavidge & Strong 1961)

  19. The Marketing Mix • Promotion • Information Processing • (McGuire 1978)

  20. The Marketing Mix • Promotion - Sales Promotion • REASON TO BUY • Operant Conditioning – Rewards Competition • JND – extra product – reduced price - Perception • Exponentiation – free sampling • Loyalty schemes – reward loyalty

  21. Basic Framework Motivation Perception Search Evaluation Choice Learning

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