Marketing Exam 1

Front 1

Name the strategic planning tools

Back 1

SWOT
Value Net
BCG matrix
GE strategic planning grid

Front 2

SWOT

Back 2

Strength
Weakness
Opportunity
Threat

Front 3

Value Net

Back 3

Suppliers
Customers
Subsituters
Complimentors

Front 4

Two parts of value net that can be the same

Back 4

Complimentors
Subsituters

Front 5

Parts of BCG matrix

Back 5

Star
Question Mark (problem child)
Dog
Cash Cow

Front 6

Cash Cow

Back 6

Low Growth
High Market Share

Front 7

Star

Back 7

High growth
High market share

Front 8

Question mark (problem child)

Back 8

High growth
Low market share

Front 9

Dog

Back 9

Low growth
Low market share

Front 10

GE Stategies

Back 10

Build
Hold
Harvest
Divest

Front 11

When to build

Back 11

High growth market
Star or Question mark

Front 12

When to hold

Back 12

Low growth
High market position
Cash Cow

Front 13

When to Harvest

Back 13

Dog

Front 14

When to divest

Back 14

Weak competitive position
Low attractivness

Front 15

if you have a product with a strong market position in a good market what strategy should you use?

Back 15

Build

Front 16

Mental accounting
Double gains

Back 16

Segregate them

Front 17

Double losses

Back 17

integrate them

Front 18

Mixed -- loss overall

Back 18

Not enough info

Front 19

Mixed -- gains overall

Back 19

Integrate the two

Front 20

Equity premium puzzle

Back 20

People invest in bonds instead of stocks

Front 21

CRM

Back 21

Tracking customers, spending habits.
Way to Valuate a company

Front 22

Market structure
Pure competition
Dominant marketing element

Back 22

Distribution

Front 23

Market Structure
Monopolistic Competition
Dominant marketing element

Back 23

Promotion
Pricing

Front 24

Oligopoly
Dominant marketing element

Back 24

Promotion

Front 25

Abstraction

Back 25

You don't consider all the good points of your product.

Front 26

Why Super Bowl commercials might not be such a bad idea

Back 26

Target tough demographic
Hype
High-involvement
90 million unique people

Front 27

Recent trends in Super Bowl ads

Back 27

Movie trailer ads
Humor ads

Front 28

Loss aversion

Back 28

You don't want to lose.
A $1 loss is worse than a $1 gain.

Front 29

Value function
Difference between positive and negative side

Back 29

Positive side is shallower than the negative side

Front 30

Asymetric Dominence

Back 30

One option is better in both aspects (cost and quality)

Front 31

Comprimise effect

Back 31

You buy the option that is in the middle of two on eiter side when there are three in a row.

Front 32

Status quo bias

Back 32

You haven't taken possesion of something yet but you value it higher.

Front 33

Endowment effect

Back 33

When you have something you value it higher

Front 34

Certainty effect

Back 34

There is a huge difference in your mind between 99% and 100%

Front 35

Reflection effect

Back 35

same situation, just opposite sign produces different desicions.

Front 36

Pain of paying

Back 36

you encode things as an exchance.
You want to pay first, and enjoy the gain later

Front 37

Most expensive phase in product life cycle?

Back 37

Introduction phase

Front 38

Product life cycle

Back 38

Introduction
Growth
Maturity
Decline
New Product Introduction

Front 39

Aspect of the Maturity stage in the product life cycle

Back 39

Commodiztion
Differentiation is tougher

Front 40

Heuristics

Back 40

Shortcut choice concept

Front 41

Lexicographic Heuristic

Back 41

You choose the product that is the best in a certain criteria

Front 42

Conjunctive Heuristic

Back 42

You eliminate any products that don't fit a certain criteria

Front 43

Disjunctive Heuristic

Back 43

You choose whatever product fits a certain criteria

Front 44

Pioneer Advantage

Back 44

Whoever is first to the market has the higher market share.
Also becomes the first to go.

Front 45

Disadvantages to being the first one to the market

Back 45

Cost outlays
Can be leapfrogged

Front 46

Problem Regognition

Back 46

When there is a difference between the actual state and ideal state

Front 47

Two ways Problem recognition occurs

Back 47

Shift in ideal state -- people want bigger houses now
Shift in actual state -- Your house is falling apart

Front 48

Marketing Myopia

Back 48

You think about your product narrowly, don't cosider other uses

Front 49

Straight re-buy

Back 49

Renew the contract

Front 50

Modified re-buy

Back 50

change the contract

Front 51

new task

Back 51

get bids from other companies and go with the best

Front 52

Marketing is

Back 52

pricing, planning, promotion of goods, services, ideas

Front 53

Four P's

Back 53

Price
Product
Promotion
Placement

Front 54

Marketing research DOES

Back 54

Reduce uncertainty

Front 55

Marketing research DOES NOT

Back 55

Make desicions for you

Front 56

Consideration set consists of

Back 56

Brands found through search
Brands found accidentely
evoked set
Unrecalled brands

Front 57

Ways to collect conjoint data

Back 57

Ratings
rankings
choice

Front 58

Four orientations (or concepts) that businesses use

Back 58

Production
Product
Sales
Marketing

Front 59

Non-probablility sampling

Back 59

quota
convienience

Front 60

Probability sampling

Back 60

simple random
systematic
simplified