Note Taking Guide KEY
Topic # 4352
TYPES OF MARKETING
Mr. Christensen
Marketing is “The task of Finding, developing and Profiting from business opportunities
by fulfilling Customer Needs.
Consumer Marketing is marketing directed at the consumer to satisfy Their needs.
Business to Business marketing is the marketing of goods and services that will be used
by businesses to produce goods and/or services.
In Mass Marketing one product is produced for the entire market. Target Marketing is
directed at consumers with similar needs and in some cases more narrowly defined niche
markets.
The advent of computers and flexible manufacturing has allowed customer-level
customized marketing.
The consumer first acquires Awareness or learns of a product, their Interest is
stimulated, they conduct an Evaluation of the product, and may use it on a Trial basis
before make a Decision to buy or not buy the product. The consumer evaluates their
buying decision each time they need to purchase a product and may conduct
Reinforcement (buy) or conduct Rejection (not buy) a product. Viewing who buys a
new product the Innovators are first followed by the Early adopters then the Early
Majority, Late Majority and finally the Laggards.
Business to business marketing: Business buyers make purchases based on how the
purchase will affect the company’s profits. A business becomes aware of a Problem
determines the problem’s Cause, they search for Alternative solutions, conduct an
Evaluation of those solutions, determine their Choice of a solution (which to buy) and
Evaluate their decision on buying or not buying again.
Government and institutional markets have Specific rules and reporting requirements, in
some cases the lowest bidder will be the winner. Their needs and requirements are often
Specialized and to a specific requirement. Often new and old technology must be
blended (interfaced) and as with most purchases support, training and reliability are
major requirements.