Marketing Learning Transfer

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Marketing Learning Transfer

The Four Ps: Controllable Marketing Mix Factors
Tools to develop a complete marketing program to reach the target market consumers.

Product. A good, service, or idea to satisfy the consumer’s needs.
Price: What is exchanged for the product.
Promotion: A means of communication between the seller and buyer.
Place. A means of getting the product to the consumer.

The 4 Ps elements of the marketing mix must be blended to produce a cohesive marketing program.

Consumer Purchase Decision Process and Experience

The stages a buyer passes through in making choices about which products or services to buy is the purchase decision process. This process has five stages:

Problem Recognition. The initial step in the purchase decision, is perceiving a difference between a person’s ideal and actual situations big enough to trigger a decision.
Information Search. After recognizing a problem, a consumer begins to search for information. First, you may use internal search (scan your memory for previous experiences with product or brand). In other cases you can you external search for information. The primary sources for external information are: personal sources, public sources and marketer-dominated sources.

Alternative Evaluation. The information provided might be inadequate because it does not contain all the factors you might consider when evaluating a product. These factors are a consumer’s evaluative criteria.

Purchase Decision. Having examined the alternatives in the consideration set, we are ready to make a purchase decision. Two choices remain: from whom, to buy and when to buy.

Postpurchase Behavior. After buying the product the consumer compares it with his or her expectations and is either satisfied or dissatisfied.

Influences on the consumer purchase decision process come from both internal and external…...

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