To create value for customers and build meaningful relationships with them, marketers must first gain fresh, deep insights into what customers need and want. Such insights come from good marketing information. As a result of the recent explosion of marketing technology, companies can now obtain great quantities of information, sometimes even too much. The challenge is to transform today’s vast volume of consumer information into actionable customer and market insights. The American consumer market consists of more than 310 million people who consume more than $10 trillion worth of goods and services each year, making it one of the most attractive consumer markets in the world. The world consumer market consists of more than 6.9 billion people. The business market involves even more dollars and items than the consumer market. Understanding buyer behavior is one of the biggest challenges marketers face.
The Assignment
After Reading Chapter 5: Understanding Consumer and Business Buyer Behavior and viewing the Power point Presentation for Chapter Five in Power point Slides. Your Assignment for Chapter Five is to watch the video IMG Worldwide in the My Marketing Lab. then answer the following questions below.
5-15. What ”product” is a college athletics department selling?
5-16. Discuss how a college sports fan might go through the buying decision process, providing examples for each stage.
5-17. Of the four sets of factors affecting consumer behavior, which most strongly affects how college sports fans consume a sport?
