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Analyzing the Target Market, Part 2: Consumer Behavior and Target Marketing Process

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Building a Marketing Plan: A Complete Guide is a 10-chapter book written by three marketing faculty at Central Queensland University, Australia: Ho Yin Wong, senior lecturer, Kylie Radel, lecturer, and Roshnee Ramsaran-Fowdar, senior lecturer. The book was written to provide both marketing students and business professionals with a comprehensive and practical framework for developing a marketing plan. Drawing together theoretical concepts, strategic thinking processes, and recent research findings, the text helps the reader conduct in-depth situational analyses, develop a deep understanding of target markets, set measurable and timely marketing objectives, develop a series of marketing strategies based on four key elements of marketing, and ensure that appropriate implementation and control mechanisms have been considered. To show how to apply the marketing planning framework discussed in chapters 2-10, the authors provide a comprehensive example in the appendix. In Chapter 4, the authors, building upon the marketing research strategies devised in Chapter 3, first explore concepts used to understand consumer behaviors and motivations: factors influencing consumer buying behavior, high- vs. low-involvement purchases, and consumer buying roles. The remaining key elements of target marketing are then examined: market segmentation, market targeting strategies, and market positioning strategies.
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