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Consumer Markets andConsumer Buyer Behavior
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Stimulus-Response Model of
Consumer BehaviorStimuli4PsOther characteristics
economic technological political cultural
BuyerResponseProduct choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
BuyersBlackBoxBuyer characteristics
Buyerdecision process
Goal 1: Learn the consumer market & construct model of buyer behavior
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Characteristics Affecting
ConsumerBehavior Culture
Forms a persons wantsand behavior
Subculture
Groups with shared valuesystems
Social Class
Societys divisions whoshare values, interestsand behaviors
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
Goal 2: Know the four factors that influence consumer buying behavior
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Characteristics Affecting
ConsumerBehavior Groups
Membership
Reference
Aspirational Opinion Leaders
Buzzmarketing
Family
Manyinfluencers
RolesandStatus
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
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Characteristics Affecting
ConsumerBehavior Age and life cycle
Occupation
Economic situation
LifestyleActivities, interests andopinions
Lifestyle segmentation
Personalityandself-concept
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
Goal 2: Know the four factors that influence consumer buying behavior
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Brand Personality Dimensions
Characteristics AffectingConsumerBehavior
Sincerity Ruggedness
Excitement Competence
Sophistication
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Characteristics Affecting
ConsumerBehavior
Motivation
Perception
Learning
BeliefsandattitudesCultural
Social
Personal
Psychological
Key FactorsKey Factors
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Psychological Factors
Motivation A motive isaneedthatissufficiently
pressing todirectthe persontoseek
satisfaction Motivationresearchis basedonFreud;
Looks forhiddenandsubconsciousmotivation
Maslow orderedneeds basedonhowpressing theyare tothe consumer
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Psychological Factors
Perception Perceptionisthe process by which
people select,organize,andinterpret
information Perception Includes:
Selective attention Consumersscreenoutinformation
Selective distortion People interprettosupport beliefs
Selective retention People retain pointstosupportattitudes
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Psychological Factors
LearningLearning describes changesinanindividuals behaviorarising fromexperienceLearning occursthrough:
Drives Internal stimulusthat calls foraction
Stimuli Objectsthatmove drive tomotive
Cues Minorstimulithataffectresponse Reinforcement
Feedbackonaction
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Psychological Factors
Beliefsand AttitudesBelief
adescriptive thoughtabouta brandor
service may be basedonreal knowledge,opinion,or faith
Attitude
describesa persons evaluations, feelingsandtendenciestowardanobjectoridea
Theyare difficultto change
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Typesof Buying
DecisionBehaviorComplex
Highlyinvolved,significant branddifferences Example computer
Dissonance-reducing Highlyinvolved, little branddifferences Example carpeting
Habitual Low involvement, little branddifferences Example salt
Variety-seeking Low involvement,significant perceived branddifferences
Example cookies
Goal 3: Understand types of buying decisions and stages in the process
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The BuyerDecision
Process
Needrecognition
Informationsearch
Evaluationofalternatives
Purchase decision
Postpurchase behavior
Needs can be triggered by:
Internal stimuli Normal needs
become strongenoughtodrivebehavior
External stimuli
Advertisements Friendsof friends
ProcessProcess
StagesStages
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The BuyerDecision
Process
Needrecognition
Informationsearch
Evaluationofalternatives
Purchase decision
Postpurchase behavior
Consumers exhibitheightened attentionoractivelysearchforinformation.
Sourcesofinformation:
Personal
Commercial
Public Experiential
Word-of-mouth
ProcessProcess
StagesStages
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The BuyerDecision
Process
Needrecognition
Informationsearch
Evaluationofalternatives
Purchase decision
Postpurchase behavior
Evaluation procedure dependson the consumer and the buyingsituation.
Most buyers evaluate multipleattributes, eachofwhichisweighted differently.
At the endofthe evaluation
stage,purchase intentions areformed.
ProcessProcess
StagesStages
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The BuyerDecision
Process
Needrecognition
Informationsearch
Evaluationofalternatives
Purchase decision
Postpurchase behavior
Twofactorsintercedebetweenpurchase intentionsand the actualdecision:
Attitudesof others
Unexpectedsituationalfactors
ProcessProcess
StagesStages
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The BuyerDecision
Process
Needrecognition
Informationsearch
Evaluationofalternatives
Purchase decision
Postpurchase behavior
Satisfactionisimportant: Delighted consumers
engage in positive word-of-mouth.
Unhappy customerstellonaverage 11 otherpeople.
It costsmore toattractanew customerthanitdoestoretainan existingcustomer.
Cognitive dissonance iscommon
ProcessProcess
StagesStages
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BuyerDecisionProcess for
New ProductsNew Products Good,service orideathatis
perceived by customersasnew.
Stagesinthe AdoptionProcess Marketersshouldhelp consumers
move throughthese stages.
Goal 4: Comprehend the diffusion & adoption process for new products
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Stages in the Adoption Process
BuyerDecisionProcess for
New Products
Awareness
EvaluationInterest
Trial
Adoption
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BuyerDecisionProcess for
New ProductsIndividual Differencesin Innovativeness
Consumers can be classifiedinto five
adopter categories, eachof which behavesdifferentlytowardnew products.
ProductCharacteristicsand Adoption Five product characteristicsinfluence the
adoptionrate.
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AdopterCategories
1. Innovators:
2. Early Adopters:
3. EarlyMajority:
4. Late Majority:
5. Laggards:
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Product CharacteristicsProduct Characteristics
BuyerDecisionProcess for
New Products
Relative Advantage
Compatibility
Complexity
Divisibility
Communicability
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BuyerDecisionProcess for
New ProductsInternational ConsumerBehavior
Values,attitudesand behaviorsdiffer
greatlyinother countries. Physical differences exist whichrequire
changesinthe marketing mix.
Customsvary from countryto country.
Marketersmustdecide the degree to whichthey will adapttheirmarketing efforts.
Goal 4: Comprehend the diffusion & adoption process for new products
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BusinessMarketsandBusinessMarketsandBusinessBuyerBehaviorBusinessBuyerBehavior
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DefinitionBusinessBuyerBehavior:
The buying behaviorof organizationsthat buy
goodsandservices foruse inthe productionofother productsandservicesthatare sold,rented,orsuppliedtoothers.
Alsoincludedare retailing and wholesaling firmsthatacquire goods forthe purpose of reselling orrenting themtoothersata profit.
Goal 1: Define the business market
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Salesinthe businessmarket far exceedsalesin consumermarkets.
Businessmarketsdiffer from consumer
marketsinmany ways. Marketing structure anddemand
Nature of the buying unit
Typesof decisionsandthe decision process
Characteristicsof
BusinessMarkets
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BusinessMarkets
Comparedtoconsumermarkets:
Businessmarkets have fewer but larger
customers
Business customers are more
geographicallyconcentrated
Demandisdifferent Demandisderived Demandis priceinelastic
Demand fluctuatesmore
CharacteristicsCharacteristics
Goal 1: Define the business market
MarketingStructureandDemand
Nature of theBuying Unit
Typesof Decisionsandthe Decision Process
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BusinessMarkets
MarketingStructureand DemandNature oftheBuying UnitTypes ofDecisionsand
the Decision Process
Comparedto consumerpurchases:
Involve more buyersinthe decision process
More professionalpurchasing effort
CharacteristicsCharacteristics
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BusinessMarkets
MarketingStructureand DemandNature oftheBuying UnitTypes ofDecisionsand
the Decision Process
Comparedto consumerpurchasesMore complex buyingdecisions
The buying processismore formalized
Buyersandsellers workmore closelytogetherand
build long-termrelationships
Goal 1: Define the business market
CharacteristicsCharacteristics
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MajorTypesof Buying Situations
Straightrebuy Reordering without modification
Modifiedrebuy
Requires modification to priorpurchase
New task
First-time purchase
BusinessBuyerBehavior
Goal 1: Define the business market
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BusinessBuyerBehavior
SystemsSelling Buying a packagedsolutiontoa
problem fromasingle seller. Oftenakeymarketing strategy for
businessesseeking to winandholdaccounts.
Goal 1: Define the business market
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BusinessBuyerBehavior
Buying Center The decision-making unitof a buying
organization Includesall individualsandunitsthat participate inthe decisionmaking
Goal 1: Define the business market
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Members of the Buying Center
BusinessBuyerBehavior
Users
BuyersInfluencers
Deciders
Gatekeepers
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Major Influenceson
BusinessBuyers
Environmental
Organizational
Interpersonal
Individual
Economic trends
Supply conditionsTechnological,politicaland competitivechangesCulture and customs
Key FactorsKey Factors
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Major Influenceson
BusinessBuyers
Environmental
Organizational
Interpersonal
Individual
Objectives
PoliciesProceduresOrganizationalstructure
Systems
Key FactorsKey Factors
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Major Influenceson
BusinessBuyers
Influence of
membersinthebuying center
Authority Status Empathy Persuasiveness
Key FactorsKey Factors
Goal 2: Identify the major factors that influence business buyer behavior
Environmental
Organizational
Interpersonal
Individual
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Major Influenceson
BusinessBuyers
Personal characteristicsofmembersinthe buyingcenter
Age andincome Education Job position Personality Riskattitudes
Buying styles
Key FactorsKey Factors
Goal 2: Identify the major factors that influence business buyer behavior
Environmental
Organizational
Interpersonal
Individual
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Stagesinthe Business
Buying ProcessStage 1:ProblemRecognition
Stage 2:General NeedDescription
Stage 3:ProductSpecification Value analysishelpstoreduce costs
Stage 4:SupplierSearch
Supplierdevelopment
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Stage 5:Proposal Solicitation
Stage 6:SupplierSelectionStage 7:Order-RoutineSpecification Blanket contractsare oftenused for
maintenance,repairandoperatingitems.
Stage 8:Performance Review
Stagesinthe Business
Buying Process
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InstitutionalMarkets Consistof churches,schools,
prisons,hospitals,nursing homesandotherinstitutionsthat provide
goodsandservicesto people intheircare.
Institutional andGovernmentMarkets
Goal 4: Compare the institutional and government markets
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InstitutionalMarkets Often characterized by low budgets
and captive patrons.
Marketersmaydevelop separate
divisionsandmarketing mixestoservice institutional markets.
Institutional andGovernmentMarkets
Goal 4: Compare the institutional and government markets
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Customer DrivenMarketingStrategy:Creating Value for Target
Customer
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Definition
Market Segmentation:Market Segmentation:
Dividing a market into distinct
Dividing a market into distinctgroups with distinct needs,groups with distinct needs,
characteristics,characteristics,or behavior whoor behavior whomight requiremight require
separate productsseparate productsor marketingor marketingmixes.mixes.
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StepsinMarketSegmentation,Targeting,
andPositioning
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
GeographicalGeographicalsegmentationsegmentation Marketing mixes areMarketing mixes are
customizedcustomizedgeographicallygeographically
DemographicDemographicsegmentationsegmentation
PsychographicPsychographic
segmentationsegmentationBehavioralBehavioralsegmentationsegmentation
Using multipleUsing multiplesegmentation variablessegmentation variables
Key TopicsKey Topics
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MarketSegmentation
GeographicGeographicSegmentationVariablesSegmentationVariables
City orCity or
Metro SizeMetro Size
NeighborhoodNeighborhood
DensityDensity
ClimateClimate
World RegionWorld Region
or Countryor Country
CountryCountry
RegionRegion
CityCity
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
Geographical segmentsGeographical segments
DemographicDemographicsegmentationsegmentation Most popular typeMost popular type
Demographics are closelyDemographics are closelyrelated to needs, wantsrelated to needs, wantsand usage ratesand usage rates
PsychographicPsychographic
segmentationsegmentationBehavioralBehavioralsegmentationsegmentation
Using multipleUsing multiplesegmentation variablessegmentation variables
Key TopicsKey Topics
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MarketSegmentationDemographicDemographic
SegmentationVariablesSegmentationVariablesAgeAge
GenderGender
Family sizeFamily sizeFamily life cycleFamily life cycle
IncomeIncome
EthnicityEthnicity
OccupationOccupation
EducationEducation
ReligionReligionGenerationGeneration
NationalityNationality
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
Geographic segmentsGeographic segments
DemographicDemographicsegmentationsegmentation
PsychographicPsychographicsegmentationsegmentation Lifestyle, social class,Lifestyle, social class,
and personalityand personality--basedbasedsegmentationsegmentation
BehavioralBehavioralsegmentationsegmentation
Using multipleUsing multiplesegmentationsegmentationvariablesvariables
Key TopicsKey Topics
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
Geographic segmentsGeographic segments
DemographicDemographic
segmentationsegmentation
PsychographicPsychographic
segmentationsegmentation
BehavioralBehavioral
segmentationsegmentation
Typically done firstTypically done first
Using multipleUsing multiple
segmentationsegmentation
variablesvariables
Key TopicsKey Topics
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MarketSegmentationBehavioralBehavioral
SegmentationVariablesSegmentationVariablesOccasionsOccasions
BenefitsBenefits
User StatusUser Status
User RatesUser Rates
Loyalty StatusLoyalty Status
Readiness StageReadiness Stage
Attitude TowardAttitude Toward
the Productthe Product
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
Geographic segmentsGeographic segments
DemographicDemographic
segmentationsegmentation
PsychographicPsychographic
segmentationsegmentation
BehavioralBehavioral
segmentationsegmentation
Using multipleUsing multiple
segmentationsegmentation
variablesvariables
Key TopicsKey Topics
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
Demographic segmentationDemographic segmentation
Industry, company size,Industry, company size,
locationlocation
Operating variablesOperating variables Technology, usage status,Technology, usage status,
customer capabilitiescustomer capabilities
Purchasing approachesPurchasing approaches
Situational factorsSituational factors
Urgency, specificUrgency, specificapplication, size of orderapplication, size of order
Personal characteristicsPersonal characteristics
BuyerBuyer--seller similarity,seller similarity,
attitudes toward risk, loyaltyattitudes toward risk, loyalty
Key TopicsKey Topics
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
Geographic segmentationGeographic segmentation
Location or regionLocation or region
Economic factorsEconomic factors
Population income or level ofPopulation income or level ofeconomic developmenteconomic development
Political and legal factorsPolitical and legal factors
Type / stability ofType / stability of
government, monetarygovernment, monetary
regulations, amount ofregulations, amount of
bureaucracy, etc.bureaucracy, etc.
Cultural factorsCultural factors
Language, religion, values,Language, religion, values,
attitudes, customs,attitudes, customs,
behavioral patternsbehavioral patterns
Key TopicsKey Topics
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MarketSegmentation
SegmentingSegmentingConsumer MarketsConsumer Markets
SegmentingSegmentingBusiness MarketsBusiness Markets
SegmentingSegmenting
InternationalInternationalMarketsMarkets
Requirements forRequirements forEffectiveEffectiveSegmentationSegmentation
MeasurableMeasurable
Size, purchasing power, andSize, purchasing power, and
profile of segmentprofile of segment
AccessibleAccessible Can be reached and servedCan be reached and served
SubstantialSubstantial
Large and profitable enoughLarge and profitable enough
to serveto serve
DifferentiableDifferentiable Respond differentlyRespond differently
ActionableActionable
Effective programs can beEffective programs can be
developeddeveloped
Key TopicsKey Topics
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TargetMarketing
Evaluating Market SegmentsEvaluating Market Segments
Segment size and growthSegment size and growth Segment structural attractivenessSegment structural attractiveness
Level of competitionLevel of competition
Substitute productsSubstitute products
Power of buyersPower of buyers
Powerful suppliersPowerful suppliers
Company objectives and resourcesCompany objectives and resources
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TargetMarketingStrategies
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TargetMarketing
Choosing a TargetChoosing a Target--
Marketing StrategyMarketing Strategy
Requires Consideration of:Requires Consideration of:
Company resourcesCompany resources
The degree of product variabilityThe degree of product variability
Products life
Products life
--cycle stagecycle stage
Market variabilityMarket variability
Competitors marketingCompetitors marketing
strategiesstrategies
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Positioning
Positioning:Positioning:
The place the product occupies inThe place the product occupies in
consumers minds relative to competingconsumers minds relative to competing
products.products.
Typically defined by consumers on the basisTypically defined by consumers on the basis
of important attributes.of important attributes.
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Positioning
Choosing a Positioning Strategy:Choosing a Positioning Strategy:
Identifying possible competitiveIdentifying possible competitiveadvantagesadvantages ---- many potentialmany potentialsources of differentiation exist:sources of differentiation exist:
ProductsProducts
ServicesServices
ChannelsChannels
PeoplePeople
ImageImage
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Positioning
Choosing a Positioning Strategy:Choosing a Positioning Strategy:
Choosing the right competitiveChoosing the right competitiveadvantageadvantage
How many differences to promote?How many differences to promote?
Unique selling propositionUnique selling proposition
Positioning errors to avoidPositioning errors to avoid
Which differences to promote?Which differences to promote?
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PositioningCriteria forMeaningful DifferencesCriteria forMeaningful Differences
ImportantImportant
SuperiorSuperior
PreemptivePreemptive
DistinctiveDistinctive
CommunicableCommunicable
AffordableAffordable
ProfitableProfitable
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Positioning
Choosing a Positioning Strategy:Choosing a Positioning Strategy:
Communicating and delivering theCommunicating and delivering thechosen positionchosen position
Entire marketing mix must support theEntire marketing mix must support the
chosen strategychosen strategy
May require changes to the product,May require changes to the product,pricing, distribution or promotion.pricing, distribution or promotion.