Consumer Preference of ‘Henkel Product’
ANALYSIS AND INTERPRETATION
OF THE DATA
CONCLUSIONS AND SUGGESTIONS
PURPOSE OF THE STUDY
All of us consumers. We consume things of daily use; we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods, specialty goods or, industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. Consumer behaviour can be defined as the decision-making process and physical activity involved in acquiring, evaluating, using and disposing of goods and services. This definition clearly brings out that it is not just the buying of goods/service that receives attention in consumer behaviour but the process starts much before the goods have been acquired or brought. A process of buying starts in the minds of the consumer, which leads to the finding of alternatives between products that can be acquired with their relative advantage and disadvantages.
Scope of Marketing:
Marketing is typically seen as the task of creating, promoting, and delivering goods and services to consumers and business. Marketers are skilled in stimulated demand for a company’s products, but this is too limited a view of the tasks marketers performs. Marketing people are involved in marketing 10 types of entities: goods, services, experience, events, persons, places, properties, organisations, information, and ideas.
Marketing Planning, Management and Strategy
Marketing managers face many challenges not the least of which is figuring out what is necessary to maintain a competitive advantage. In this section Know this offers resources for the marketing manager with special focus on tools to help with planning and strategy formulation. Also, if you have an interest in starting a small business then the information available in this area may be quite helpful. Time spent investigating the resources available here could save lots of time and money in the future.
Evolution of marketing
Marketing as we know it today began in the 1970s with the birth of the "marketing orientation". During the first stage of capitalism business had a production orientation. Business was concerned with production, manufacturing, and efficiency issues. By the mid 1950s a second stage emerged, the sales orientation stage. Business's prime concern was to sell what it produced. By the early 1970s a third stage, the marketing orientation stage emerged as businesses came to realize that consumer needs and wants drove the whole process. Marketing research became important. Businesses realized it was futile putting a lot of production and sales effort into products that people did not want. Some commentators claim that we are now on the verge of a fourth stage, one of a personal marketing orientation. They believe that the technology is available today to market to people on an individual basis (see personalized marketing, permission marketing, and mass customization). They feel it is no longer necessary to think in broad aggregated terms like market segments or target markets. Marketing has become an academic discipline in itself, with tertiary degrees in the field now routinely awarded. Masters and Doctrinal degrees can be obtained in numerous subcategories of marketing including: Marketing Research, Consumer Behavior, International Marketing, Industrial Marketing (also called b-to-b marketing), Consumer Marketing (also called b-to-c marketing), Product Management, and e-Marketing....
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