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According to the American Marketing Association, consumer behaviour can be defined as "the dynamic interaction of affect and cognition, behaviour, and environmental events by which human beings conduct the exchange aspects of their lives." As a field of study, consumer behaviour is an applied social science. Consumer behaviour analysis is the ...
Digital marketing mix is fundamentally the same as Marketing Mix, which is an adaptation of Product, Price, Place and Promotion into digital marketing aspect. [48] Digital marketing can be commonly explained as 'Achieving marketing objectives through applying digital technologies'.
The AIDA marketing model is a model within the class known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive ...
The extended marketing mix is used in the marketing of services, ideas and customer experiences and typically refers to a model of 7 Ps and includes the original 4 Ps plus process, physical evidence and people. Some texts use a model of 8 Ps and include performance level (service quality) as an 8th P.
Consumer value is used to describe a consumer's strong relative preference for certain subjectively evaluated product or service attributes. [1] [2] [3] [4]The construct of consumer value has widely been considered to play a significant role in the success, competitive advantage and long-term success of a business, and is the basis of all marketing activities. [5]
Value in marketing can be defined by both qualitative and quantitative measures. On the qualitative side, value is the perceived gain composed of individual's emotional, mental and physical condition plus various social, economic, cultural and environmental factors.
Consumer purchases are influenced by cultural, social, personal and psychological influences (Kotler et al., 2013). These factors cannot be controlled but they can be accounted for while coming up with a marketing mix (Kotler et al., 2014). Culture is the base of a person's wants and behaviour.
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...