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the act of collecting, interpreting, and reporting information concerning a clearly defined marketing problem. can help some companies understand and satisfy the needs and wants of customers. is a billion $ industry.

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Marketing Research

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has become more important, and more complicated, as markets continue to become globalized and product life cycles become shorter. In such a climate, companies need accurate information to reduce risk and make good decisions. This quest for information compels companies to spend billions of dollars each year on marketing research.

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Marketing Research

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Multinational companies seek to complete in the global marketing arena and must have knowledge of international trends.

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Globalized Markets

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In addition to globalization, trends such as quickly changing patterns of consumer behavior also provide an incentive for firms to acquire fresh information through marketing research. Firms can no longer rely only on historical data to determine future marketing strategies. Now, they must generate timely information, interpret it quickly, and take action before the competition does. If they don't, they will be beaten before they can even begin.

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...

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Marketing research impacts almost every aspect of a company's business.

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...

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need to be developed based on real customer needs and wants, not just the whims of marketing departments.

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Products

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requires analysis of the size of the potential market and the effects of price changes on demand.

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Pricing

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a type of research used to estimate how much customer demand there is for a particular product and understand the factors driving that demand

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Demand analysis

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Decisions regarding this function must be made using sales forecasting

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Place

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which is a form of research that estimates how much of a product will sell over a given period of time. Using this research, firms know how much product to hold in inventory at various points in the distribution network.

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Sales Forecasting

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activities such as advertising must be evaluated based on their effectiveness.

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Promotional activities

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measure how well an advertising campaign meets marketing objectives like increasing market share, generating consumer awareness of a product, or creating a favorable impression of the company's products

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Advertising effectiveness

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follows changes in sales during and after promotional programs to see how the marketing efforts affected the company's sales.

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Sales Tracking

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females 18-25 years old at planet beach. Promotions every quarter. Each marker it different. Stay with your target market!!!

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Important Note

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In addition to its impact on firms, marketing research matters to consumers like you. Consumers rely on companies to develop and market the products they need and want. For example, after sales and profits sagged, BlackBerry researched what customers wanted from a smartphone in terms of function, user interface, and applications. They redesigned their smartphones accordingly. Without marketing research, companies would mostly be guessing at what consumers want, often missing badly, as in the case of previous BlackBerry phones. Marketing researchers use a variety of techniques and gather data from an assortment of sources to provide the goods and services truly desired by people.

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Sales Tracking

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is a well-defined set of steps that, if followed, should yield invaluable information concerning a firm's market. A systematic approach to marketing research follows a five-step process: (1) problem definition, (2) plan development, (3) data collection, (4) data analysis, and (5) taking action. sometimes marketers skip steps if they get an early solution to the problem, or go back to an earlier step to gather additional information or reanalyze data as needed.

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Marketing Research Process

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marketers do not have to take every step every time. Marketing research is conducted when releasing a new product, continuously. not one set time frame but as need and change in the market place.

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Note!!

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Step 1 - clearly define the problem. Clarifying the exact nature of the problem prevents the firm from wasting time, money, and human resources chasing the wrong data and coming up with the wrong solutions. To begin, a firm should set specific research objectives. As with overall marketing objectives, research objectives should be specific and measurable. They represent what the firm seeks to gain by conducting the research.

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Problem Definition

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Step 2 - sometimes called research design, involves identifying what data sources will be utilized, what specific type of research will be used, and what sampling methods will be employed.

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Plan Development

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is an educated guess based on previous knowledge or research about the cause of the problem under investigation.

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Hypothesis

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are collected specifically for the research problem at hand.

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Primary Data

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ALWAYS GOES FIRST! are collected for purposes other than answering the firm's research questions. Often the company itself has collected this data from its day-to-day operations and can access it directly.

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Secondary Data

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Seeks to discover new insights that will help the firm better understand the problem or consumer thoughts, needs, and behavior.

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Exploratory Research

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seeks to understand consumer behavior by answering the questions who, what, when, where, and how. includes a consumer's attitude toward a product or company; a consumer's plans for purchasing a product. shop in person or online. & demographic info like age, gender, and place of residency

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Descriptive research

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used to understand the cause and effect relationships among variables. independent ( cause) dependent (effect)

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Casual Research

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is the process of selecting a subset of the population that is representative of the population as a whole. How researchers conduct sampling is critical to the validity of the findings.

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Sampling

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is a rep subset of the larger poplulation

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Sample

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ensures that every person in the target population has a chance of being selected, and the probability of each person being selected is known

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Probability Sampling

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everyone in the target population has an equal chance of being selected

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Simple Random Sampling

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doesn't attempt to ensure that every member of the target population has a chance of being selected

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Nonprobability sampling

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selection criteria such as demographics

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Quota Sampling

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firms selects participants based on the referral of other part. who know they have some knowledge of the subject in question

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Snowball sampling

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Step 3 of the marketing research process

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Data Collection

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Internal or External - internal data is collected by the company and can include things like sales by product, information about individual purchases from loyalty cards, previous research reports, accounting records, and market information from the sales force. External data can come from industries. include trade associations, academic journals, business periodicals, and commercial online databases. Internet is the big key!!

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Secondary Data Collection

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website that provides the general public with information on competitors.

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US Securities & Exchange Commission

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may be necessary if secondary information cannot adequately answer the research question. can be qualitative or quantitative

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Primary data collection

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validity concerns how well the data measures what the researcher intended to measure. results may be difficult to measure objectively, powerful computer software

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Qualitative Data

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the culmination of the marketing research process is a formal, written report to decision makers. step 5

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Taking Action

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Focus groups, interviews, and observations

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Qualitative research includes

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a moderator and involve a small number of people 8-12. They discuss a particular topic or concept. Can be held in person or online. They are expensive and must be conducted by an experienced personal who knows how to properly direct discussions

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Focus Groups

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the researcher works with one participant at a time asking open-ended questions about how the individual perceives and uses various products or brands

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Interview

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how people behave and recording anything about that behavior that might be relevant to the research objective

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Oberservation

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involves observing the behavior of online communities that have been organized around a particular consumer interest. type of qualitative research

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netnography

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Surveys, experiments, and mathematical modeling

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Quantitative research includes

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questionnaires pose a sequence of questions to respondents. Time tested method for obtaining answers to who, what, when , where, why, and how types of questions and can be used to collect data

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Surveys

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are procedures undertaken to test a hypothesis. Controls the research setting and examines causal relationships between variables.

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Experiments

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brain activity when a participant is subjected to a particular stimulant about products, packaging, and advertisements

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Neuro marketing

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casual research that involves using equations to model the relationships between variables

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Mathematical modeling

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Step 4 of the marketing research process, can be challenging

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Data analysis

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concerns how well the data measure what the researcher intended to measure

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validity

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Research report findings should be presented in a clear and understandable manner and include appropriate visual data, such as figures and tables, to support the findings and recommendations. The research report should allow the marketing manager to solve the marketing problem.

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note

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Powerful computer software and hardware make marketing research easier to conduct than ever before. In-house systems, such as marketing decision support systems (DSS) and online systems like those that support social media sites allow companies to collect and analyze huge amounts of data.

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note

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computer software that helps companies continuously capture information and store it in a way that makes it accessible to researchers

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Marketing information systems

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a computer program that enables access and use of the information stored in the data warehouse

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decision support system

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is a process that involves the computerized search for meaningful trends in a larger amount of data

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Data mining

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Blogs, podcasts, message boards, and opinion and review sites all allow people to post valuable commentaries on a variety of subjects. Several companies have developed software to track popular topics on blog sites and obtain opinions of goods and services and other data, such as consumer trends, that researchers can analyze.

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note

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involves systematically gathering data about what strategies direct and indirect competitors are pursing

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Competitive intelligence

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which involves selling goods and services to end-user customers like restaurants, car dealerships, and barber shops. Marketers go through a common decision-making process

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Business to Consumer Marketing

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is the way in which individuals and organizations make decisions to spend their available resources, such as time or money.

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Consumer Behavior

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Problem recognition, information search, evaluating alternatives, making the purchase, and post purchase evaluation

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Consumer decision making process

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Step 1 of the consumer decision making process. Consumers recognize that they have a need to satisfy. Marketers must understand all aspects of consumer's problems, even those that are less obvious, to create products that improve or enhance consumers' lives. If the consumer is not aware of a problem or does not recognize a need, he or she is unlikely to engage in any of the steps of the buying process.

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Problem recognition

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Step 2 of the consumer decision making process. once consumers recognize a problem, they seek information that will help them make the best possible decision about whether or not to purchase a product to address the problem. Larger purchases, like buying a house or car, often require a great deal of info. Smaller purchase may also involve a great deal of importance

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Information search

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information beyond their personal knowledge and experience to support them in their buying decision, they are engaging in. Internet is a main information base system

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External Information search

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consumers use their past experience with items from the same brand or product class as sources of information. HALO EFFECT. for frequent buys

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Internal information search

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Step 3 of the consumer decision making process. once consumers have acquired information, they can use it to evaluate different alternatives, typically with a focus on identifying the benefits associated with each product. Price, warranty, safety features, or fuel economy

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Evaluation Alternatives

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the attributes a consumer considers important about a certain product

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Evaluative criteria

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Marketing professionals must not only emphasize the benefits of their goods or service but also use strategies to ensure potential buyers view those benefits as important

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>>>

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Step 4 of the consumer decision making process. customer will most likely buy a product. usually the marketer has little control over this part of consumer decision making process. Still consumers have several decisions to make at this point. You want, price, or lower interest rates.

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Making the purchase

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refers to patterns of consumption that are repeated with regularity. These types of repeat purchases often provide firms with higher profits and a steady stream of customer sales

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Ritual consumption

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Step 5 of the consumer decision making process. is critical because their feelings about the purchase will likely impact whether or not they become repeat buyers of that paticular good or service.

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Post- purchase evaluation

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buyers regret the purchase decision. The mental conflict that people undergo when they acquire new information that contradicts their beliefs of assumptions. Car company might offer an extended warranty or a toll free number. Increase likelihood that those consumers will provide positive information.

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Cognitive dissonance

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include factors like time and social surroundings that serve as an interface between the consumers and their decision making process. Numerous factors affect the consumer decision making process at every stage and an effective marketing strategy must take these factors into account.

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Situational influences

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...

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Consumers value their time greatly and time considerations often affect what consumers buy

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Consumers are often willing to pay more for products if the placement of those products saves them time

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Time can also impact what a consumer ultimately pays for a good or service.

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family members are one of the greatest influences on consumer behavior

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Family influences

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often greatly influence a household's purchase decisions, particularly in the realm of grocery shopping and dining out

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Children Influences on Family Purchases

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the distinct family related phases that an individual progresses through over the course of his or her life Six Stages: 1. unmarried 2. married with no kids 3.married with small children or tweens 4.married with teens 5. married without dependent children 6.unmarried survivor

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Family life cycle

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can provide consumers with a new perspective on how to live their lives. It is made up of the people to whom a consumer compares himself or herself. Marketers should understand that the more public the purchase decisions, the more impact reference groups are likely to have.

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Reference Groups

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a consumer actually belongs to. School, clubs, workplace, and fraternities.

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Membership Reference Group

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refers to the individuals a consumer would like to emulate. Example the Kardasians

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Aspirational reference group

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include people that the individual would not like to be like

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Dissociative reference group

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individuals who exert an unequal amount of influence on the decisions of others because they are considered knowledgeable about particular products

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Opinion leaders

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consumer's personality, lifestyle, and values directly impact his or her behavior and firms should understand how so they can tailor their marketing strategy accordingly

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Personal factors

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is the set of distinctive character that lead an individual to respond in a consistent way to certain situations. Strongly influences a consumer's decision purchase

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Personalitly

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is a person's typical way of life as expressed by his or her activities, interests, and opinions

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Lifestyle

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reflect a consumer's belief that a specific behavior is socially or personally preferable to another behavior

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Values

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are the belief and associations people have about a country. can reflect an overall positive or negative feeling about that country or be specific to certain products. More favorable country of origin image, more marketers should emphasize the country in their ads

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Country of origin effects

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are the underlying psych mechanisms that can influence consumers behavior. For consumers to make purchases decisions, they must engage in certain psych processes, such as attitude and learning

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Psychological processes

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a persons overall evaluation of an object involving general feelings of like or dislike. Firms marketing online must understand and comply with privacy laws and implement the right messaging and policies to demonstrate that they take consumers' attitudes about privacy seriously

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Attitude

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learning refers to the modification of behavior that occurs over time due to ecperiences and other external stimuli. Marketers can influence consumer learning and impact consumer decisions and strengthen consumer relationships, but they must first understand the basic learning process

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Learned

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Marketers can capitalize on consumer learning by designing marketing strategies that promote reinforcement

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Note

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the inward drive we have to get what we need and or want

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Motivation

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An inventory method which is designed to approximate inventory valuation at the lower of cost or market is

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Note

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Self-Actualization Esteem Love/Belonging Safety Physiological

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Maslow's Hierarchy of Needs

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a single industry classification system used by the members of the NAFTA- to generate comparable statistics for businesses and industries across the three countries

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North American Industry Classification System

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federal, state, and local entities that purchase everything from heavy equipment to clear snowy roads to paperclips to keep office records organized. The US government is one of the world's largest customers, spending hundreds of billions of dollars a year. Complex buying procedures, meet the necessary requirements.

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Government Markets

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business marketers typically deal with far fewer buyers than consumer marketers. And usually, each of these customers is larger and more essential to the firm's success than an average consumer because there are fewer business buyers.

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Fewer buyers

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marketing to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others.

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Business to Business marketing

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An individual consumer can choose to buy ice cream or a new set of golf clubs at any time for any reason, but business sales typically involve professional purchasing managers who are experienced in the policies and procedures necessary to make a large deal.

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Professional Purchasing

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purchasing process is often far longer than the consumer dmp and requires standardized procedures, such as a request for proposal and contract negotiations, that are not typically found in consumer buying

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B2B

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when demand for one product occurs b/c of demand for related product. provides an important reason to develop mutually beneficial relationships with business-to-business partners.

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Derived Demand

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significant purchases that carry a greater risk to consumers if they fail. Firms must remember that the difference between low and high is not always absolute and depends on the priorities of the individual consumer. Extensive and helpful info as they go through the decision making process

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High Involvement prodcuts

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is the personal, financial, and social significance of the decision being made

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Involvement

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purchasing a product with no planning or forethought

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Impulse buying

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are inexpensive products that can be purchased without much forethought and with some frequency. Consumers often do not recognize their desire for a low involvement product until they are in the store, which influences the strategic decisions for marketing these items

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Low involvement products

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Firms must remember that the difference between low-involvement and high-involvement products is not always absolute and depends on the priorities of the individual consumer. A female consumer whose appearance is extremely important to her might view the purchase of shampoo as a high-involvement item and spend considerable time searching for information and evaluating alternatives.

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Note

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include the need for self-respect, strength, competence, mastery, self-confidence, independence, and freedom.

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Higher esteem needs

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aspiration to become everything that one is capable of becoming. Full potential is and the need to realize that potential

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Self Actualization

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take precedence and begin to dominate behavior. Different forms, including physical safety and economic safety. The absence of physical safety- due to war, natural disaster, or family violence, for example can lead people to experience post traumatic stress disorder or other emotional conditions.

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Safety Needs

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a consumer who lacks food, safety, love, and esteem would consider food his or her greatest need and according to maslow, would seek to fulfill that need before any of the others.

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Physiological Needs

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deficiencies with respect to these interpersonal needs can impact an individual's ability to form and maintain emotionally significant relationships with romantic partners friends and family

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Love and Belonging

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is the need all humans have to be respected by others as well as by themselves.

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Esteem

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needs include the need for the respect of others, status, recognition, fame, prestige, and attention

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Low esteem

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represent a wide variety of organizations, including hospitals, schools, churches, and nonprofit organizations. Can vary widely in their buying practices. They must develop flexible, customized solutions that meet the specific needs

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Institutional markets

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include retailers and wholesalers who buy finished goods and resell them for a profit.

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Resellers

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such as a clothing or grocery store is a firm that sells mainly to end-user consumers like you. Over 1 million in the U.S.

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Retailer

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is the sale of goods or merchandise to retailers; industrial, commercial, institutional, or other professional business users; or other wholesales.

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Wholesaling

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a buying situation in which the customer's needs change slightly or they are not completely satisfied with the product they purchased

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Modified rebuy

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a buying situation in which a business customer is purchasing a product for the very first time

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New buy

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a buying situation in which a business customer signals its satisfaction by agreeing to purchase the same product at the same price. Does not look for competing buds from other companies

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Straight rebuy

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B2B marketing professionals focus on several major categories of business customers, including

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Government, institutional, reseller markets

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NAICS information is one of the most common requirements in completing the documentation to sell to government entities.

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Note

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Is a firm that sells goods to anyone other than an end-user consumer, purchase a large quantity at a low cost and then sell off smaller quantities of the good at a higher per-unit price.

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Wholesalers

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Marketers can classify business-to-business buying situations into three general categories:

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A new buy, straight rebuy, & modified rebuy

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Regardless of what type of business customer B2B marketers are selling to or what type of buying situation they're in, B2B marketing should seek to create, communicate, and deliver value to customers in a way that is ultimately profitable, just as marketers would with individual consumers.

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Note

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Marketers who try to be all things to all people typically end up serving no one well.

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Note

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the process of dividing a larger market into smaller groups, or market segments, based on meaningfully shared characteristics.

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Market Segmentation

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relatively homogenous groups of consumers that result from the segmentation process: 1. helps firms define the needs and wants of the customers who are most interested in buying the firm's products. 2. helps firms design specific marketing strategies for the characteristics of specific segments. 3. helps firms decide how to allocate their marketing resources in a way that maximizes profit.

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Market Segments

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These bases help firms develop customer profiles that highlight the similarities within segments and the dissimilarities across segments. (demographic, geographic, psychographic, and behavioral)

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Segmentation Bases

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Companies divide markets using characteristics such as age, gender, income, education, and family size to achieve

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Demographic Segmentation

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Age and gender are the most commonly used demographic variables because they are often the easiest to identify.

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Note

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is an especially valuable segmentation tool in areas such as food, housing, and health care because older Americans spend significantly more than younger consumers. The median age for residents of the U.S. is the highest in the history of the country, providing marketers with expanding market segments of older Americans for their products that represent billions of dollars in potential sales

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Age

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Men and women each make up approximately half of the US. _____________is a valuable segmentation variable for products ranging from clothing to soft drinks to medications. Marketers are also expanding beyond traditional gender segmentation as new trends shift marketing dollars away from male- or female-oriented marketing to try to appeal to both genders.

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Gender

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affects consumers' ability to buy goods and services and provides marketers with a valuable segmentation tool.

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Income

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A company might discover that married individuals will pay higher prices than single individuals, or that single customers purchase a certain product more frequently than married customers do. the size of families living under one roof has increased as more college-age students move back home and more adult couples take care of their elderly parents.

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Family Size & Marital Status

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divides markets into groups such as nations, regions, states, and neighborhoods. Marketers pay special attention to local variations in the types of goods and services offered in different geographic regions.

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Geographic Segmentation

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is an important geographical segmentation tool. The U.S. Census Bureau divides cities and urbanized areas into Metropolitan Statistical Areas (MSA), which are free-standing areas with a core urban population of at least 50,000.

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Market Size

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Segmenting by geography also allows marketers to capitalize on

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Customers Convenience

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Important geographic segmentation tool. The number of members each state has in the United States House of Representatives is determined by population and calculated every 10 years following the census. The economic recession, retirement, and even natural disasters can cause people to move.

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Population Shifts

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Louisiana was the only southern state to lose spots in the House of Representative

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Note

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The science of using psychology and demographics to segment consumers is called

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Psychographic Segmentation

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While demographic characteristics give us multiple ways to segment markets, consumers within the same demographic profile can have very different psychological or personality traits that influence their purchasing behavior.

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Note

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divides people into groups based on their opinions and the interests and activities they pursue.

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Lifestyle Segmentation

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Most commonly used psychographic segmentation. originally developed by SRI International, classifies U.S. and Canadian adults age 18 years of age and older on the basis of their responses to 34 attitudinal and 4 demographic questions into 8 psychographic groups—Innovators, Thinkers, Believers, Achievers, Strivers, Experiencers, Makers, and Survivors.

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VALS Network

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measures two dimensions: primary motivation and resources. How motivation and resources combine explains why different consumer groups exhibit different behaviors, and why different consumer groups often exhibit the same behaviors for different reasons. & identifies three primary motivations: ideals, achievement, and self-expression.

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VALS

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divides consumers according to how they behave with or act toward products. Includes occasions, loyalty, and usage rate.

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Behavioral Segmentation

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When done well, behavioral segmentation helps marketers clearly understand the benefits sought by different consumer segments. Behavioral segmentation is often the most difficult of the four bases to use. The marketing research required to track and understand how consumers behave with a certain product is very expensive and time-consuming

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Note

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By segmenting the market by those who are active on social media, companies can, with minimal financial responsibility, engage and interact personally through individualized social media platforms such as Facebook and Twitter with a larger and more diverse consumer base. Nevertheless, questions remain as to exactly how to engage consumers on social networking sites and, more importantly, whom to engage.

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Note

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is a costly exercise, and often a very difficult one even with the help social media platforms provide in reaching international markets

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international market segmentation

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not all countries collect or classify their data in the same way, making it all but impossible to compare characteristics across nations. Even if marketing professionals obtain the information they seek, each nation and region has its own unique features that make establishing quality market segments problematic.

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Note

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Firms typically segment international markets using three general bases:

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Global, Regional, Unique

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is used when the firm can identify a group of consumers with common needs and wants that spans the entire globe. Global segmentation usually results in market segments made up of young people, those that have more money to spend, or those with access to the Internet.

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Global Segmentation

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may be used when the similarity in needs and wants only extends across the region or several countries. Firms will often use this when they want to capitalize on the financial savings of global segmentation but still adjust for local customs and culture.

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Regional Segmentation

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which targets the preferences of a segment within one country. Such segmentation usually becomes necessary for products like specialty foods. completely localizes

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Unique Segmentation

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International market segments can be used to group together countries with market conditions that are materially the same in relation to the company's product. This means that a marketing mix strategy that works well in one market may be successful for other markets in the same segment, allowing the firm to standardize the marketing mix across segments.

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Note

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Marketers in the U.S. and throughout the world can use a single segmentation base to divide the marketplace, or they can use multiple segmentation bases to provide a more complete picture of the consumers within each segment. Each has its own advantages and disadvantages depending on the firm, its products, and its budget.

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Note

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to be effective, segmentation should create market segments that rate favorably on the following five criteria:

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substantial, measurable, differentiable, accessible, actionable

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The segments must be large enough for the firm to make a profit by serving them.

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Substantial segmentation

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The size and purchasing power of the segment should be clearly identified. Many successful marketers believe that if you cannot measure something you cannot manage it.

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Measurable Segmentation

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Dividing the market into segments does no good if all the segments respond the same to different marketing strategies.

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Differentiable Segmentation

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Marketers must be able to reach and serve the segment. If the firm doesn't have the size, financial capital, expertise, or government permits to serve a certain market segment, all of the other criteria are irrelevant.

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Accessible Segmentation

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Marketers should be able to develop strategies that can attract certain market segments to their firms' goods and services. A firm should be reasonably certain that its marketing mix can inform consumers about the product, how it adds value to the consumer, and ultimately how to purchase it.

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Actionable Segmentation

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occurs when marketers evaluate each market segment and determine which segment or segments present the most attractive opportunity to maximize sales. The segments selected are the firm's target markets.

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Targeting

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is the group of customers toward which an organization has decided to direct its marketing efforts.

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Target Market

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Firms should consider the following three important factors during the targeting process:

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Growth potential, level of competition, & strategic fit

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Typically, the higher the future growth rate, the more attractive the segment is. high growth is good

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Growth Potential

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The more intense the competition within a segment, the less attractive it is to marketers. Competitors will fight extremely hard to prevent market share loss, and the potential for price wars can negatively impact success. Generally, more competitors means a firm has to work harder and invest more in promotion to earn business and increase market share. When considering two market segments in which other factors, such as size and growth potential, are constant, the one with a less competitive environment is more attractive. low level is good

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Level of Competition

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Marketers should work to ensure that the target markets selected fit with what the organization is and wants to be as defined in its mission statement.

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Strategic Fit

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provides an excellent framework to determine if a firm will be successful targeting a specific segment.

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SWOT Analysis

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Selecting an appropriate target market is crucial to a successful marketing strategy.

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Note

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The three basic strategies for targeting markets include:

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Undifferentiated, differentiated, & niche targeting

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strategy approaches the marketplace as one large segment. Can save a firm money. Because the firm doesn't segment the market further, it can approach all consumers with the same product offering and marketing mix. works best with uniform products, such as salt or bananas, for which the firm can develop a single marketing mix that satisfies the needs and wants of all customers. Only a limited number of products fall into this category; the majority of products satisfy very different needs and wants for different consumers. Firms turn to this bc resources are limited

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Undifferentiated Targeting

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occurs when an organization simultaneously pursues several different market segments, usually with a different strategy for each. Used by firms that market the same product to multiple regions with different preferences. A firm marketing to a region outside the U.S. may also need to modify products according to local government regulations and cultural preferences. More expensive

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Differentiated Targeting

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involves targeting a large share of a small market segment. products typically have very specialized needs and will pay higher prices to meet those needs. Include coach bags, rolex watches

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Niche Targeting

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Regardless of what target marketing strategy firms use, they must keep in mind the growing ethical concerns around targeting some market segments, in particular children, non-native language speakers, and the elderly.

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Note

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Children ages between 8 and 12. accounts for over $51 billion in direct consumer purchases. significantly influences another $170 billion spent by parents and family members. This trend had the effect of causing firms to adjust the target age for their products downward until they were marketing tweens products like makeup and trendy clothing that had always been considered more appropriate for teenagers. In addition, embedded marketing programs in schools and product placements in popular television and movies by some of these companies made it difficult for ______ to differentiate between entertainment and a product promotion.

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Tweens

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An analysis of popular online children's retailers showed that almost 30 percent of children's clothes have sexualized characteristics and that the highest proportion of sexualized clothing came from stores aimed at tweens.24 Several grassroots organizations have been formed to promote ethical marketing to children, and marketers should consider the ethical implications of any target marketing strategies they implement.

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Note

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happens in many different ways and assumes that consumers compare goods and services on the basis of benefits. ex: choosing between cell phone carriers. often takes into account the identity of the organization and where it fits relative to the competition.

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Positioning

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Successful positioning involves

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All of the marketing mix elements

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Marketers should follow three major steps to decide how to best position their product.

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1.Analyze Competitor's Positions 2.Clearly Define Your Competitive Advantage 3.Evaluate Feedback

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Positioning does not occur in isolation, and it is important for marketers to have a realistic view of how customers perceive competitive offerings. Competitive analysis becomes even more important when competitors all appear to offer a similar good or service.

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Analyze Competitor's Positions

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provides a valuable tool for understanding competitor positions in the marketplace & creates a visual picture of where products are located in consumers' minds.

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Perceptual Maps

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why consumers buy their firm's goods and services.

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Clearly Define Your Competitive Advantage

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There are a number of positioning strategies available to highlight a firm's competitive advantage, including the following:

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price/quality relationships, attributes, & application

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Just as fashion styles change, consumer tastes for almost everything, including cars, food, and even educational learning formats, change.

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Evaluate Feedback

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consists of a succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product. look at firms that change vs firms that do change

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Positioning Statement

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