Abstract:

The problem of identifying consumer-reaction to different variables and in particular to those of pricing policy cannot be solved through the traditional approaches used up till now. We put forward here elements of the answer to the fundamental questions about management of tactical as well as strategic marketing today. This approach will have a three-fold objective, which, we believe, will bear upon present day concerns: a) Identifying the dynamics of consumer-reaction as a fundamental of strategic marketing. b) The "macro" use of this approach to solve problems of market strategy. c) The "micro" use of the approach to identify changes in, and reactions of, consumers, and to help in choosing operational tactics in markets. We will describe below the fundamentals and uses of this approach, which is known in the literature as the "MARKET" method.