Essentials of Marketing 7th Edition by Charles Lamb,Joe Hair,Carl McDaniel

Exercise 16

The next step in preparing a marketing plan for the company you chose in Part 1 is to get a thorough understanding of the marketing opportunities in terms of marketing to customers. Once you've completed the marketing plan exercise for each chapter in Part 2 of this textbook, you can complete the Part 2 Marketing Planning Worksheet on your companion Web site at www.cengage.com/marketing/lamb. Complete the following exercises:
1. Describe the decision-making process that customers go through when purchasing your company's product or service. What are the critical factors that influence this purchase-behavior process? How will this decision-making affect your e-marketing focus and your market offering? If you have a brickand-mortar presence, will you encourage any existing customers to shop online? Why or why not?
2. Nonmarketing periodicals can help you understand consumer behavior and apply what you've learned to your marketing plan. Research articles from such publications as the Journal of Psychology , Journal of American Ethnic History , Psychology Today , Race and Class , Working Woman , Society , and others. Select and read three articles that explore different topics (i.e., do not select three articles on psychology). Then, make a list of factors you think could affect consumer purchasing behavior. Include with each factor a way marketers could use this information to their benefit.