Marketing is consumer behaviour

What is marketing? was the questioned asked by Prof. Roberto....

Marketing is understanding consumer behavior....

You can not decide what to sell, your customer would decide what to buy from you...That being the fact marketing becomes nothing but understanding what your customers want....

Customer behavior can be gauged effectively using marketing research tools. Today we learnt how to use these simple but very effective techniques.

One question that always intrigued me was...How to set the right price for a new product and what is the revenue maximizing price for any product and how to decide it?

A simple question like

"At what price on this scale will you begin to feel that this brand is for you already TOO EXPENSIVE so that you will not want to buy it anymore"

Can you believe in our class assignment we could answer three questions using the same tool

1.Revenue
2.Price sensitivity
3.Brand equity

Markets have changed and many companies have started with product price segmentation dept. to maximize the revenues per product.















Very simple question but a very perfect tool...Can you believe Major MNCs, Govt. Agencies and development agencies are effectively using this unique tool developed by Prof. Ned Roberto.

Catch your losses early was what Prof. Roberto had to share with us...Many times we want to force the price on customers forgetting the most basic thing that Marketing is customer behavior...

Cheers I have to now study for WAC (Written analysis of Case). We sleep only 4 Hrs. remember.

Ravi Vij