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Consumer Marketing

About Consumer Marketing in Business ethics topics.

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Chinny Leir Sylvester
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13 views5 pages

Consumer Marketing

About Consumer Marketing in Business ethics topics.

Uploaded by

Chinny Leir Sylvester
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Republic of the Philippines

ABE International College of Business and Economics


Tacloban City

Written report in Ethics

Norombaba, Jessa-Mae E. Submitted to:


Mamorno, Juan Carlos CRISTIAN LOTERO
Instructor
BSBA – Section J. – REPORTER 1
MTH 11:00-12:00 AM

TOPIC
CONSUMER MARKETING

What is a Consumer Marketing?


Consider consumer marketing as a strategy that targets individuals for personal use of products and
services. It’s often called B2C marketing, which stands for business-to-consumer marketing. This
approach is intrinsically different from B2B marketing geared towards businesses.
Consumer marketing is everywhere. It pops up in your emails, social media feeds, and television,
promoting various consumer products and services. So, if you’ve recently seen an ad for a shoe sale or
received a promotional discount email from a clothing brand, you’ve encountered consumer marketing
in action.

What is The Difference Between Consumer Marketing and Business


Marketing?

Consumer and business marketing are two distinct approaches to selling products or services.

Consumer marketing - targeting individual customers

- create campaigns to attract loyal customers, increase customer loyalty,


and convert prospects into buyers

B2B marketing strategy - reaching businesses as the end customer.

- use market research to develop a target audience of potential companies


who may be interested in their products and services.

Diving into Market Segmentation


Market segmentation is one method that marketers use to understand their audience better. It
involves dividing consumers into groups based on various characteristics. These traits can be:

 Demographic (gender, age, ethnic background, income, etc.)


 Psycho-graphic (values, attitudes, interests, etc.)
 Behavioral (buying habits, user status, etc.)
 Geographic (location and regional factors)
Using market segmentation, a marketer gets a detailed view of who their customers are. This facilitates
more personalized marketing strategies and assures the correct product is served to the right
consumer. It’s like knowing your friend’s favorite color before buying them a birthday gift; it makes it
more likely they’ll appreciate the gesture.

What are the types of Consumers in Marketing?


In marketing, there are FIVE types of consumers: loyal customers, Need-Based Customers, Impulse
Shoppers, Bargain Hunters, and Wandering Consumers.

1. Loyal Customers are those who have a strong relationship with the company and will
consistently purchase their products.

2. Need-Based Customers purchase something because they need it, like groceries or household
items.

3. Impulse Shoppers buy things on a whim without much thought or research beforehand, often
based on an emotional response to an advertisement or product.

4. Bargain Hunters look for sales and discounts, always trying to find ways to save money.

5. Wandering Consumers are those who purchase a variety of products without any real loyalty
or dedication to one company.

What are the advantages of online consumer marketing?

The advantages of online consumer marketing,

1. Global reachType equation here .


2. Cost-effectiveness
3. Data analytics
4. Targeted advertising
5. Real-time interaction

1. Global reach: Online marketing allows businesses to reach a global audience, breaking
geographical barriers.
2. Cost-effectiveness: Digital marketing often proves more cost-effective than traditional
methods, especially for small and medium-sized businesses.
3. Data analytics: Online platforms provide valuable data analytics, enabling businesses to
measure and analyze campaign effectiveness.
4. Targeted advertising: Online marketing allows for precise targeting based on demographics,
interests, and online behavior.
5. Real-time interaction: Businesses can engage with consumers in real-time through social
media, email, and other online channels.

The Importance of Consumer Marketing


Consumer marketing is the most important part of a business’s plan to grow and connect with its
customers. Its importance must be balanced, especially considering how it brings in and keeps people.
Here are some important reasons that show how important it is:
 Connecting with Customers: By getting to know your customers’ minds, you can understand
what they want. This information is very helpful for making ads and messages that get people to
take action, which builds a strong bond between your brand and its customers.
 Brand Differentiation and Leadership: In a crowded market, your brand’s unique qualities are
revealed by how well you sell it to customers. Differentiation is about sticking out and becoming a
thought leader that people consider their first choice.
 Fostering Brand Loyalty: The journey from a one-time buyer to a loyal advocate begins with
consistent and empathetic consumer marketing. You build trust and a lasting relationship by
ensuring your products and services match what your customers want and value.
 Increasing Sales and Profitability: Effective consumer marketing draws Prospective customers
in. It can turn interest into purchases and one-time sales into repeat business, eventually boosting
the bottom line.
 Long-term Business Growth: Steady growth is the aim of any enthusiastic entity. Engaging
customers smartly not only gets you quick wins but it also sets you up for long-term growth and
market dominance.

What Are Some Effective Consumer Marketing Strategies?

1. Evaluate the fundamental requirements of consumers


A consumer marketing campaign is a process that requires an understanding of consumer behavior,
needs, and wants. Evaluating the fundamental requirements of consumers will help you create more
targeted advertising campaigns that address their interests and provide them with value.

2. Develop customer-centric content


Consumer marketing is all about providing value to your customers – whether it’s through promotional
offers, discounts, or informative content. Focus on creating customer-centric content that is tailored to
their needs and interests.

3. Leverage personalized data


Utilize the insights gathered from customer engagement metrics, such as web traffic, to create targeted
campaigns tailored to individual customers – based on preferences and behavior. Personalized data
will help you design campaigns that are more effective and engaging in penetrating, connecting, and
converting your consumer market.

4. Leverage influencers
Influencer marketing is an effective way to reach a wider audience. Establish relationships with
influencers with a wide reach, especially in your target markets and those who specialize in your target
industry.

5. Utilize digital marketing channels

The most effective way to reach and engage with customers nowadays is through digital channels,
such as social media, websites, blogs, and mobile apps. Invest in the right digital tools that will help you
effectively promote your products or services via business-to-consumer marketing.

6. Create surveys
Surveys are a great way to gain insights into customer behavior and preferences. Ask customers for
feedback on your products or services so you can create campaigns that better resonate with them.

The Role Of A Consumer In Marketing


Before examining the role of a consumer, it is paramount that we know exactly who a consumer is.
People often use the terms "consumer" and "customer" interchangeably but a "consumer” has a more
distinct definition compared to “customer.” A customer is simply a buyer, while a consumer is the
individual who both buys and uses the product or service. A consumer is a customer, but a customer
isn’t always a consumer in a business transaction. A consumer also is called the end user.

1.Marketing Research
Consumers play a major role in marketing research before a product or service is released to the
public. Once you identify your target consumers, you can invite these people to participate in focus
groups or send them surveys to quiz them on key elements of your marketing plan. Questioning them
about the right price to charge and what marketing message appeals to them as a consumer can help
guide your entire plan, particularly when releasing a new product or service.
2.Product Feedback
The consumer also plays a role in the feedback-gathering process after a company’s offering hits the
market. After implementing your marketing plan and releasing the product or service, you need to track
results and continually monitor consumer needs so you can improve on the offering in the future. For
instance, software developers seek feedback from consumers regularly to help them develop new and
improved versions of programs.
3..Bring in New Consumers
Consumers also can act as agents to further the effects of your marketing plan. With word-of-mouth
marketing, consumers who have used your product review it both offline and online and can refer other
consumers to the product. This marketing is free and very effective, as individuals tend to trust the word
of people they know when it comes to trying new products and services.
4.They promote credible publicity of the product.
5. They can be used as "prosumers", a term which describes consumers that are also
producers. Here, consumers aid in identifying the type of product needed through online

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