Marketing Final 2

Front 1

Positioning

Back 1

- The power of a brand to provide value, and occupy the prime/favorable position in the consumers mind, is that it makes competing brands seem as “me too” products

Front 2

Opinion leaders

Back 2

o highly regarded, sway large numbers of people
o their word of mouth is impactful
(Under Personal Influence)

Front 3

Membership group

Back 3

fraternities, sororities

Front 4

Reference Groups

Back 4

Membership group, Aspiration group, Dissociative group

Front 5

Aspiration Group

Back 5

doctor, lawyer

Front 6

Dissociative group

Back 6

don’t share common values, point of views

Front 7

Personal Influence

Back 7

o highly regarded, sway large numbers of people
o their word of mouth is impactful
- includes reference groups

Front 8

Family Life Cycle

Back 8

distinct phases that a family progresses through life. We track different changes in the family.

Front 9

Family Influence

Back 9

- Consumer socialization
- Family Life Cycle – distinct phases that a family progresses through life. We track different changes in the family.
- Family Decision Making
1. Serve as info gatherer
2. Be influencers
3. Serve as decision makers
4. Be purchasers
5. Be users

Front 10

Culture

Back 10

Set of values, ideas, and attitudes that are learned and shared among members of a group

Front 11

Subculture

Back 11

subgroups within larger cultures. Three largest in terms of racial/ethnic:
o African American – largest spending power, price conscious, respond to advertising that appeals to sense of pride in terms of heritage
o Hispanic – largest subculture, 50% are immigrants and under the age of 25, Quality/brand conscious, influenced by family and peers, credible advertising (2.5 B) in Spanish ads.
o Asian American – fastest growing, 70% are immigrants and under 30, diverse subculture, Assimilated/Non-Assimilated.

Front 12

Positioning

Back 12

Positioning
- Proctor and Gamble positions each of their products to occupy a unique picture in the consumer’s mind.
o Tide – makes clothes white
o Cheer – makes them whiter than white
o Bold – makes them “bright”
- When you own a position in the mind of the consumer, the name becomes a surrogate or substitute for generic name. (Instead of asking for category, you ask for brand.)
o Campbells – soup
o Band Aid (J and J) – adhesive bandage
o Tylenol – pain reliever
o Hellman’s – mayonnaise
o Kraft Mac and Cheese – macaroni and cheese.

Front 13

What Market Segmentation Means

Back 13

- Involves aggregating prospective buyers into groups that:
1. have common needs/wants
2. will respond similarly to a marketing action (The Marketing Mix)
- Result: Market Segments
- Product Differentiation among segments

Front 14

Influences on Consumer Decision Process

Back 14

Influences on Consumer Decision Process
- Situational Influences:
o Purchase task – personal or gift
o Social Surroundings – who is with you?
o Physical surroundings – decor, music, crowds
o temporal effects – time of day, available time to ‘shop’
o Antecedent States – state of mind of the consumer. Cash? Mood?