Marketing Capstone

Front 1

What is the innovation Dilemma

Back 1

High risk and odds of failure - but substantial benefits if innovation is successful (e.g. Dupont and Mountain Dew)

Front 2

Most brands are in maturity stage of PLC; What can marketers do to prolong the stay in maturity and avoid decline?

Back 2

Changes needed to products, markets, or marketing programs

Front 3

Can prolong brand life (tide, crest collate listerine etc.)

Back 3

Line Extensions

Front 4

Follow leaders; less risky (coors light)
First mover versus late mover advantage (kleenex, ys nescafe, gillete or iPhone)

Back 4

Innovation Imitations

Front 5

Extend well known brand (jello pudding snacks)
Fit between brand and category is important

Back 5

Brand Extensions

Front 6

Replace existing products with value-added propositions and alter category dynamics (swifter, gatorade, or iPod)

Back 6

Game Breakers

Front 7

Lessons Learned

Back 7

Fight the PLC
Differentiate Trends from Fads
Know how your brand fits with product categories: Clorox baked beans?
New New Bring Newness to the party
Find game breakers rather than copycat imitations

Front 8

To _____ marketers must develop a process for identifying, attracting, and retaining high value customers

Back 8

Maximize customer equity

Front 9

Retaining valuable customers

Back 9

Customer Acquisition/Retention

Front 10

Acquire, Manage, Retain profitable customers

Back 10

Customer Relationship Management

Front 11

What are the three steps in CRM?
What is “customer equity”?
What is “customer acquisition cost”?
What should a company do when NPV is positive? Negative?
What are the two factors that affect customer acquisition?
What two dimensions impact customer retention?

Back 11

know for test

Front 12

Is the study of how individuals, groups and organizations select, buy use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.

Back 12

Consumer Behavior

Front 13

Is the fundamental determinant of a person's wants and behavior.

Back 13

Culture

Front 14

Are relatively homogeneous and enduring divisions in a society, hierarchically ordered and with members who share similar values, interest, and behaviors.

Back 14

Social Classes

Front 15

Are all the groups that have a direct (face to face) or indirect influence on a customer's attitudes or behavior

Back 15

Reference Groups

Front 16

Groups having a direct influence are called.

Back 16

Membership Groups

Front 17

Are those groups a person hopes to join.

Back 17

Aspirational Groups

Front 18

Are those whose values or behavior an individual rejects.

Back 18

Dissociative Groups

Front 19

Is the person who offers informal advice or information about a specific product or product category, such as which of several brands is best or how a particular product may be used.

Back 19

Opinion Leader

Front 20

Consist of parents and sibling. From parents a person a quires an orientation toward religion, politics, and economics and a sense of personal ambition, self-worth, and love.

Back 20

Family of Orientation

Front 21

More direct influence on everyday buying behavior is the ______ namely, the person's spouse and children.

Back 21

Family of Procreation

Front 22

consist of the activities a person is expected to perform.

Back 22

Role

Front 23

Each role in turn connotes a

Back 23

Status

Front 24

Refers to the distinguishing human psychological traits that lead to relatively consistent and enduring responses to environmental stimuli (including buying behavior).

Back 24

Personality

Front 25

the specific mix of human traits that we can attribute to a particular brand.

Back 25

Brand Personality.

Front 26

Is a personals pattern of living in the world as expressed in activities, interests, and opinions.

Back 26

Lifestyle

Front 27

The belief systems that underlie attitudes and behaviors.

Back 27

Core Values

Front 28

A need becomes a ______ when it is aroused to s sufficient level of intensity to drive use to act.

Back 28

Motive

Front 29

is the process by which we select, organize, and interpret information inputs to create a meaningful picture of the world.

Back 29

Perception

Front 30

Although we are exposed to thousands of ads and other stimuli every day, we screen most stimuli out a process called

Back 30

Selective attention

Front 31

______ induces changes in our behavior arising from experience

Back 31

Learning

Front 32

Is a strong internal stimulus impelling action.

Back 32

Drive

Front 33

Are minor stimuli that determine when, where and how a person responds

Back 33

Cues

Front 34

Cosist of all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand node.

Back 34

Brand Association.

Front 35

Is a descriptive thought that a person holds about something.

Back 35

Belief

Front 36

A person's enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea.

Back 36

Attitudes

Front 37

The _____ of a attitude formation omits that consumers evaluate products and services by combining their brand beliefs - the positives and negatives according to importance.

Back 37

Expectancy-value model

Front 38

Consumers often take "mental shortcuts" called ___ or rules of thumb in the decision process.

Back 38

Heuristics