This week in my MBA in Marketing through Regis University online, we continued to focus on the consumer’s decision making process.

The premise for both of these models is that variables such as: awareness, comprehension, interest, evaluation, conviction, etc  are a very important concern for marketers and the major indicators of behavior.

Marketing’s responsibility is to change these variables and move consumers thru the consumer problem solving and decision making stages until they make a purchase. Of course there are a thousand and one ways that we see marketing efforts to accomplish this, but one very easy thing to keep in mind is…be genuine and helpful without being pushy! When you approach a prospect with helpful and educational material that in-and-of-itself will benefit them, you are perceived as someone adding value to their life and business!

Notice in the graphic above that the 1st block is “Attention”. This is critical because there’s so much marketing “noise” out there for our prospects to see that we must find ways to stand out above the crowd. This can involve being creative, this can involve doing the opposite of what your competition is doing….or it can be using such specific knowledge that you have learned from your target audience that your message really “hits home” with them!

Until next week!

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OK so I’m now beginning class 9 out of 12 in my MBA in Marketing….if all goes well, I’ll be done in November!

I spent the last 2 courses building out my Marketing Plan and Marketing Strategy, the really neat thing is that we are allowed to choose an existing public business to focus on or one that we “create”. So I thought it would be fun to create the Marketing Huddle, a marketing coaching firm, and what you see on the home page, and “interview” page is my MBA project taking form!

There’s a few reasons why I am already picking up clients, since I have 18+ years of sales and marketing experience I can draw off of successes as well as failures, and also I see that business owners value the fact that I have a fresh perspective by being in a marketing MBA program.

Small business owners really are the backbone of the economy with over 90% of all new jobs being created by a small business! And what is very motivating is that there’s an enormous need thay have…and that is MARKETING!

OK, back to Consumer behavior, I’m just in the middle of week 2 but so far it’s highly interesting because it totally gets into WHY a customer buys a product or service. Until a company knows this they are driving blind….or at least not maximizing what they could be doing. After all, it’s all about the customer, right?! Ao why not discover why they buy, what their needs are, and then you can fine-tune what you offer??!

Sound simple, but it is often ignored because it takes work!

Here’s a concept from this week’s assignment:

It is called the “Wheel of Consumer Analysis,”* and is taken from a model created by the psychologist, Albert Bandura. Bandura revealed four factors that are important in the study of consumer analysis and he emphasized that all of these factors continually interact with one another as illustrated in the model below:

Each one of these spokes of the wheel on this model “touches” and can affect the other elements at any time within the consumer purchase experience. A truly effective marketing strategy affects all four spokes of the “Wheel of Consumer Analysis”. By researching all of these elements on the wheel and developing strategies based upon your results, you can better understand your current and future customers within your company.

Can You Help??

In week 5 I have to turn in a “Laddering Interview” which is a series of 10-15 questions I interview 10 different business owners on regarding their marketing needs…..would you be willing to let me ask you these questions? (If you’re like me, you HATE surveys, I know…)

But the good news is that you will learn a lot about yourself and your business and it will actually be a “free consultation”. Everyone who participates I will send the results at the end of the class so that you can see the responses from all the people I interviewed which will give a great perspective outside of your own! (Don’t worry I will not and cannot disclose names so it will be something like “Business Owner “A” etc.)

Please either e-mail me your desire to help at mike@marketinghuddle.com or “Tweet” me! @marketinghuddle

Thanks in advance!

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