MKTG 305 1st Edition Lecture 3Outline of Last Lecture I. Consumer News Presentation OverviewII. TopicsIII. Grading RubricOutline of Current Lecture I. Defining “marketing”II. Defining “consumer”III. The Consumer ProcessCurrent LectureDefining Marketing:The American Marketing Association defines marketing as “an organizational function and a set of processes for creating, communicating, and delivering value to the consumers and for managing consumer relations.”According to Peter Drucker, the consumer should be the focus of the marketer. He said, “Marketing is the whole business seen from the point of view of its final result, that is, from the CUSTOMER’s point of view.”And Business Week claims that the customer is becoming the center of the entire business universe.Defining Consumer: Consumer- those who identify needs and wants, purchase goods/services, use goods/services, and dispose of goods/services.An organization or group can also be a consumer. The consumer is a purchaser, a user, and an influencer.Consumer behavior- the study of the process involved when individuals select, purchase, use, ordispose of products, services, ideas, or experiences to satisfy needs and desires. These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Products- “stuff,” goods, ideas, patents, etc.The Consumer Process:Consumer MarketerPre-purchase: Needs/wants/information What makes the consumer think like they do?Purchase: Does the purchase solve my problems? Is it pleasant?Situational factors, display, etc.Post-purchase: Did it fulfill my expectations? What factors determine
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