Name Professor Course Date Understanding consumer behavior Question 1 College athletics department sell a phone type called Apple of model iPhone3GS with carrier AT&T at a retail price of $150 with excellent display navigation battery life and multi-media while having a fair voice quality. Many consumers have bought the product and are tattooing its logos on their bodies. They feel much satisfied since it scores the highest satisfaction rate. The product caters and defines their purchasing behaviors. For instance culture will influence the purchase of the product in a way that technologically advanced consumers will buy products that meet their needs while others may find no need for the product hence ignoring. This will result to low sales while when there are more digital people then the high sales and profit will be realized. Reference Murphy Patrick E. "Marketing Ethics of." Wiley Encyclopedia of Management (2010).123-145 [...]
Introduction To create value for customers and build meaningful relationships with them, marketers must first gain fresh, deep insights into what customers need and want. Such insights comes from good marketing information. As a result of the recent explosion of marketing technology, companies can now obtain great quantities of information, sometimes even too much. The challenge is to transform today's vast volume of consumer information into actionable customer and market insights. The American consumer market consist of more than 310 million people who consume more then $10 trillion worth of goods and services each year, making it one of the most attractive consumer markets in the world. The world consumer market consists of more than 6.9 billion people. The business market involves even more dollars and items then the consumer market. Understanding buyer behavior is one of the biggest challenges marketers face. The Prompt Respond to the following questions for this module After Reading Chapter 5: Understanding Consumer and Business Buyer Behavior and viewing the Powerpoint Presentation for Chapter Five in Powerpoint Slides. Your Assignment for Chapter Five is to watch the video IMG Worldwide in the MyMarketing Lab. then answer the following questions on p. 167 in your Textbook. 5-15. What "product" is a college athletics department selling? 5-16. Discuss how a college sports fan might go through the buying decision process, providing examples for each stage. 5-17. Of the four sets of factors affecting consumer behavior, which most strongly affects how college sports fans consume a sport?