We will examine three fundamental activities: Identifying opportunities; conducting market research; and understanding consumer behavior. We will take a closer look at the process to seek out attractive opportunities that a corporation, an individual, or a non-profit organization would undertake. Once viable opportunities have been identified, they are then analyzed individually. This analysis is accomplished through market research. Through market research, we can profile our potential customers and segment them into groups. Finally, we will look at the notion of consumer behavior and examine how needs and wants and buying behavior can impact our marketing efforts.
- Recognize the different types of marketing opportunities
- Identify the strategies used for market research
- Recall the factors that drive consumer behavior
- Review the stages in the buying process
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