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What is a Brand? A brand is often a concept that means different things to different people. It's akin to the story of the five blind men describing an elephant – each touches a different part and describes it uniquely. Similarly, the perception of a brand var...

The Product Life Cycle (PLC) is a concept derived from the biological life cycle. Just as living beings go through stages of birth, growth, maturity, and eventual decline, so do products and services. Understanding the PLC is critical for businesses to plan st...

Traditional Retail Model The Old Way: Kirana Stores 20 years ago, retail was predominantly conducted through Kirana stores or mom-and-pop stores. Customers would visit these stores with a list of items they needed. The shopkeeper would then: Select the items ...

The soap market in India is one of the most competitive segments in the FMCG sector. For every brand that succeeds, approximately 10 to 15 brands fail. In 1995, the total soap market size was around 420,000 tons per annum, valued at about 27,000 million rupees...

Introduction This module's focus is on one of the most interesting and strategic aspects of marketing: Identifying the Target Group. This step is essential for understanding and delivering value to customers. Module 2 Focus: Identifying the Target Group Why i...

Target Consumer Analysis Target Groups Identified: Three Girls: Urban residents. Likely from North India (e.g., Punjab). Age group: Young (students or early in their careers). Socio-economic class: Upper class (well-off with chauffeur-driven car). Lifesty...

1. Segmentation Definition: The process of dividing a market into distinct, homogeneous groups based on common characteristics. Purpose: Helps identify and categorize consumers into manageable and meaningful segments for targeted marketing efforts. Bases ...

Process of Targeting Segment Identification: Identify segments using criteria such as demographics, psychographics, geography, etc. Segment Evaluation: Evaluate each segment based on relevance, characteristics, and alignment with organizational goals. Segm...

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Importance of Resources in Consumer Behavior Resources refer to: Time: How much time a consumer spends on decision-making. Effort: The cognitive and physical effort in making choices. Money: The financial expenditure on consumption items. Consumer vs. Cu...

In consumer behavior, the purchase process involves multiple roles that individuals may play during the decision-making process. Understanding these roles helps businesses design strategies to target the right individuals at various stages. Here's a detailed e...

The need recognition stage is the first and crucial step in the consumer decision-making process. It occurs when a consumer perceives a discrepancy between their actual state and their desired state, leading to a realization that they need to solve a problem. ...

Internal Factors Influencing Consumer Decision-Making 1. Personal Factors Personal factors relate to the unique characteristics of an individual: Age: Preferences and decision-making behaviors evolve with age. For example, the priorities of someone in their...

Case Overview The Kapoor family is looking to purchase a new car. Here are the key facts: Family Members: Mr. Arun Kapoor (49): Senior Manager at TCS in Mumbai Mrs. Alka Kapoor (44): School Teacher Rohan (21): Son, a first-year degree student at MIBI Col...

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