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21 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Marketing Concept |
Idea that will set you apart from your competitor; a philosophy of achieving organizational goals depends on knowing the needs and wants of your customer & delivering it better than your competitor |
An idea... |
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SWOT Anaylsis |
Strength & Weaknesses (Internal factors) Opportunities & Threats (External factors) |
You know this... |
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Value Chain |
Internal departments that carry out value-creating activities to design, produce, market, deliver and support a firm's product |
design, produce, market, deliver and support |
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Value Delivery Network |
The network made up of: 1. Company 2. Suppliers 3. Distributors 4. Customers Who partner with each other to improve performance of the network |
A 4 part network |
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Sustainable Competitive Advantage (SCA) |
Sustaining the delivery of better value and ratification to your customers over your competitors |
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4Ps of Marketing |
1. Product 2. Price 3. Promotion - advertising 4. Place - where product will be purchased |
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Product / Market Expansion Grid |
Looks at New and Existing Markets with New and Existing Products |
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BCG Matrix |
The Boston Consulting Group Approach / Growth - Share Matrix |
Growth-Share Matrix |
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Porter's Five Forces Model |
Competitive Forces at Work 1. Threats of New Market Entrants 2. Bargaining Power of Buyers 3. Threats of Substitutes 4. Bargaining Power of Suppliers 5. Current Rivals |
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Segmentation Variables |
• Geographic • Demographic • Psychographic • Behavioral |
4 major variables |
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Positioning |
How the product, service and image appear in the mind's eye of the customer |
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Positioning Statement |
A way to express the value proposition (Similar to mission statement but particular to the product) |
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Positioning Map / Perceptual Map |
Shows where you are in a market space that has competitors |
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Whole Product Analysis |
•New-to-the-world products (10%) •New-to-the-firm products (20%) •Improvements to existing products (26%) •Additions to existing product lines (26%) •Cost reductions (11%) •Repositioned (7%) |
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New Product Development |
Product Concepts & Requirements •Need or Benefit •Technology •Form: what the product looks like; delivery mechanism Companies usually focus on meeting 2/3 when developing new products |
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Branding |
Helps marketers to create, maintain, protect, and enhance products and service; market place perception |
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Brand equity |
Investment in brand |
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Brand Growth Strategies |
•Line Extention (existing product & brand) •Brand Extention (new product, existing brand) •Multiple Brands (new brand, existing product) •New brands (new product, new brand) |
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Characteristics of Service |
• Intangible: cannot be seen tasted or felt •Inseparable: can't separate from providers • Variable: quality of service depends on who provides them • Perishable: services that cannot be stored for later use |
4 Service Challenges |
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Service Measures |
•Reliability •Responsiveness •Assurance •Empathy •Tangible |
Dimensions of Service Quality |
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Gap Analysis |
Exploring and measuring what we see vs. what we get |
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