Powerpoint explaining how to better understand and target the marketplace. This consists of consumer buying process , B2B marketing, consumer purchase decision, firm culture and the buying process

1. UNDERSTANDING AND
TARGETING THE
MARKETPLACE
SINCLAIR COMMUNITY
COLLEGE
Foundations of Marketing

2. 5 STEPS OF THE CONSUMER BUYING
PROCESS
1. Realization that there is an unsatisfied need
2. Search for information in order to satisfy
that need
3. Assess different options available to them
4. Receiving the product and using it
5. Determine if they are satisfied on
unsatisfied with the purchase

3. MARKETERS AND THE EFFECT
THEY HAVE ON CONSUMERS
If customers are pleased and content with purchases, marketers
hope that this will in turn develop into customer loyalty and
more profit for the company. If the customer is not pleased with
the product there could be potential backlash on the company
and negative comments on social media or other platforms.
The marketing mix (price, promotion, product and place) are
things that the marketer will have to make sure to advertise
correctly and accurately in order to appeal to the most
consumers
Consumers face social, psychological and situational factors
that go into making a decision to purchase a product
If the marketer reaches the customer at the right time when
wanting a need consumers are more likely to purchase.

4. TYPES OF B2B MARKETING
Manufacturers or service providers
Resellers
Institutions
Government

5. B2B PROCESS
This process runs on a very
structured process unlike the
customer buying process.
During the B2B process there
are usually more than one
types of people in the buying
decision in order to complete
the purchase.

6. 5 STEP CONSUMER PURCHASE
DECISION
1. Recognition of a need
2. Information search
3. Alternative evaluation
4. Purchase Decision
5. Post Purchase Behavior

7. STRUCTURE OF
THE B2B PROCESS
• Initiator – Brings up the
purchase
• Influencer- How people think of
the product and the final
decision
• Decider- determines one or
more of the following: what,
how or where to buy
• Buyer- handles details of the
purchase
• User- Purchases the product,
uses the product or consumes
the product

8. Autocratic
One person makes the
decisions
Democratic
Majority rules
Consensus
All must come to an
agreement

9. STRAIGHT REBUY
NEW BUY
MODIFIED REBUY
Someone is buying a product
for the very first time
Someone has continuously
bought the same product and
is buying again
Someone is rebuying the same product
they normally buy however, with a
slight modification

10. CONSUMER INFLUENCES
Consumers have many social influences. Including, but not
limited to, the people they are around, the people they look up
to, leaders of a company or government official, experts in a
particular field that the consumer is interested in, etc.
Consumers can also be influenced by culture or the region of
where they are located.
Consumer can be influenced by their families when they
remember that mom or dad bought something, they are more
likely to go out and buy the same thing.

11. EXTENSIV
E
A purchase
that requires
comparison
of options.
Benefits vs
Costs.
Research that
takes a
substantial
amount of
time
LIMITED
A
combination
of both
Routine
involvement
and
Extensive
involvement
ROUTIN
E
A purchase
that
doesn’t
require
analyzation
of other
products.
Consumer
preference