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41 Cards in this Set
- Front
- Back
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3 C's of marketing
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Company
Competitor Customer |
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3 Aspects of Competitive environment
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-Overall Cost Leadership
-Differentiation from competitors -Positioning |
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4 Things that affect the Macro Environment
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-Economic -Technological -Political/Legal -Demographic/Cultural |
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Societal Marketing Definition |
Application of the marketing concept in a way that creates value for society |
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For the Societal Environment, what are the 3 public service groups? |
-Media -Government -General Public |
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3 paradigms of the Co-operative environment |
-Supply Chain Management -Relationship Marketing -Relationship Management |
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Disruptive Innovation definition |
Smaller companies with fewer resources is able to successfully establish incumbent businesses by successfully targeting overlooked segments by the incumbents |
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3 Definitions of Market Intelligence |
-The Process of acquiring and analyzing information in order to understand the market -To determine current and future needs and preferences, attitudes and behaviours of the market -To access changes in the business environment that may affect the size and nature of the market in the future |
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2 Area's of a Businesses opportunity assessment |
-Business Strengths -Product/Market Management |
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2 Types of Secondary Market Research
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-Internal Sources -External Resources |
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3 types of satisfaction's involved with offerings portfolio
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Physical, Psychological, Sociological
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In regards to a offerings portfolio, what 3 areas need to be considered with the satisfactions of the offering?
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Purchasing, Ownership, and Consumption
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In regards to a Product offering, what is meant by core product?
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Benefits (What does it do)
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In regards to a Product offering, what makes up the category of tangible products?
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Features, Packaging, Brand name
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In regards to a Product offering, what makes up the category Augmented Products?
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Warranty, Financing, Support Services, Delivery
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What are the two attributes that should be considered when making a perceptual map?
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Salient, Intangible
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What two things are involved with Product Management?
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Life Cycle, Branding
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Stages of the Product life cycle
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Introduction -> Growth -> Maturity -> Decline
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Brand is: (3 things)
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Layer of meaning that surrounds product Concept with an existence and personality Revenue generating idea, metaphor, analogy |
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3 area of Brand Representation
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Registered trademarks Logo Icons and Mascots |
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3 stimulus inputs in the stimulus response model
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-Commercial Environment (Significant, symbolic) -Social Characteristics -Situational Characteristics |
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3 areas in Individual characterisitcs
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Demographics Psychographics Personal Environment |
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5 Stages of the Consumer Decision Process
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Problem Recognition (perceiving need) Information Search (seeking value) Alternative Evaluation (assessing value) Purchase Decision (Buying Value) Post-Purchase Behaviour (consumption value) |
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3 types of benefits with alternative evaluation
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Functional Experimental Symbolic |
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4 Segmentation Requirements (to defend market segments)
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Measurable (quantifiable) Meaningful (accessible) Substantial (profitable and sustainable) Marketable (actionable) |
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6 areas of Geographic Segmentation
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Country Region Population size Community population centre climate |
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7 areas of demographic segmentation
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Age Gender Income Education Marital Status Occupation Generation |
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2 areas to focus on in Psychographic segmentation
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Life Style Technographic |
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In Behavioural Segmentation, 4 benefits sought
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Physical (Health, Beauty, Mobility) Emotional (Friendship, Humour, Pleasure) Mental (Education, Creativity, Curiosity) Spiritual (Peace, Patriotism, Philosophy) |
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5 stages of the research process
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Define the problem and research objective Develop the research design Collect data Analyze and interpret the findings Communicate findings / Implementation |
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3 ways to Identify the business problem in the research process
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Company Strategy Competitor Strategy Buyer Behaviour |
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2 types of Research design in primary research
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Exploratory (Qualitative) Descriptive (Quantitative) |
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2 approaches to collect data in primary research
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Observation Communication |
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4 points in the communication model
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Source Message form Message medium Receiver |
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AIDA concept
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Attention (cognitive) -> Interest -> Desire (affective) -> Action (conative)
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Hierarchy of effects (6 things)
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Awareness -> Knowledge -> liking -> Preference -> conviction -> Purchase |
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In market communication, what are the two different types of message appeal
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Rational/informational Emotional |
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In market communication, 4 things that should be considered with the message
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Message Appeal Delivery format Tonality Creativity |
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When looking at the impact of the message medium what are the three things to consider?
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Frequency Reach Engagement |
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What 6 things to consider when looking at your target audience for market communication
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Selective Perception Receptiveness Primacy vs recency Source characteristics Repetition effect Ethical Perception |
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Value proposition
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For (target Segment), (brand/product name) is a (product Category) that unlike (competitor targets), (Statement of primary differentiation)
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