Marketing Organization Types and Challenges

Marketing Organization Types

• Functional type of marketing organization: groups marketing activities based on tasks like product planning, market research, advertising, sales, and promotion.
• Product oriented marketing organization: common for companies with a diverse product portfolio.
• Market oriented marketing organization: prevalent in large organizations serving a wide customer base across extensive territories.
• Customer oriented marketing organization: common in businesses offering specialized services to various customer segments.

Marketing Challenges

• Rapidly evolving customer needs, wants and expectations.
• Increasing global and domestic competition.

Ways to Overcome Marketing Challenges

• Cultivate a learning organization: prioritize continuous improvement and adapt to change.
• Conduct thorough market research: invest in understanding customer needs and market trends.
• Reevaluate the traditional marketing mix (4Ps) to a customer-centric one (4Cs): adapt to modern market dynamics.

Social Marketing Concepts

• Social marketing utilizes commercial marketing principles to promote societal benefit instead of profit.**
• Social marketing campaigns leverage commercial marketing techniques for social good.
• Social marketing aims to increase acceptance of social ideas and practices.
• It's a rapidly growing field with potential to reduce consumption.

Marketing Control Process

• Planning provides direction and enables organizations to achieve objectives.
• Control measures are crucial to ensure planning effectiveness.
• Marketing planning sets objectives, targets, and communicates them to those responsible.
• External factors like ecological and environmental aspects, including climate change, impact marketing strategies, especially in sectors like tourism, agriculture, and insurance.

Module 3: Buyer Behavior

• Consumer behavior encompasses decision-making processes related to acquiring, consuming, and disposing of goods and services.
• It includes emotional, mental, and behavioral responses of consumers.
• Understanding consumer behavior is essential for businesses to effectively influence purchasing decisions.
• Consumer buying behavior is the study of customer actions that drive the purchase and use of products.
• It considers interpersonal and personal factors influencing decision-making.

Determinants of Consumer Behavior

• Interpersonal influences: cultural (broadest influence), group (social), family (most impactful).
• Internal influences: personal factors like demographics.

Importance of Consumer Behavior

• Consumer Differentiation: Discerning unique consumer characteristics.
• Customer Retention: Keeping existing customers.
• Designing Relevant Marketing Programs: Creating effective strategies.
• Predicting Market Trends: Analyzing consumer purchasing patterns.
• Competition: Understanding customer loyalty and competitor strategies.
• New Product Innovation: Developing products that meet consumer needs.
• Market Relevance: Adapting to changing consumer preferences.
• Improving Customer Service: Catering to diverse customer needs.

Types of Consumer Behavior

• Habitual: Purchases made with minimal thought or effort.
• Variety-Seeking: Consumers switch brands frequently due to noticeable differences.
• Extended Decision-Making: High conscious and emotional involvement in purchases.
• Limited Decision-Making: Purchases among a limited selection of similar products.

Factors Affecting Consumer Behavior

• Marketing Campaigns: Significant influence on purchasing decisions.
• Economic Conditions: Influence purchasing power, especially for high-cost items.
• Personal Preferences: Liking, disliking, morals, and values.
• Group Influence: Social circles' opinions and behaviors.
• Purchasing Power: Financial ability to make purchases.
• Needs and Motives: Motivation to fulfill needs.
• Perceptions: Interpretations of incoming stimuli.
• Attitudes: Pre-existing opinions about products, brands, stores, or salespeople.
• Learning: Changes in behavior due to experiences.
• Self-Concept: One's perception of oneself, impacting purchases.

How to Use Consumer Behavior

• Develop Trust: Understanding consumers' trust-building expectations.
• Be Repetitive: Optimizing ad frequency through data analysis.
• Reconsider Packaging: Enhancing packaging's appeal based on consumer preferences.

How to Collect Data on Consumer Behavior

• Surveys: Online, phone, or in-person.
• Focus Groups: Moderated discussions on specific products or services.
• Interviews: Conducted in person or over the phone.
• Observations: Watching and recording consumers in natural settings.
• Experiments: Manipulating variables to assess effects on behavior.
• Data Analysis: Analyzing sales, web analytics, and social media data.

This quiz explores the various types of marketing organizations, detailing functional, product-oriented, market-oriented, and customer-oriented setups. It also addresses prevalent marketing challenges and effective strategies to overcome them, such as embracing a learning organization and adapting to customer-centric methodologies.