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12 Cards in this Set

  • Front
  • Back
Selecting Target
1. Identify targeting strategy
a. Undifferentiated
b. Concentrated
c. Differentiated
2. Identify Segmentation Variable
a. Demographic
b. Geographic
c. Behavioristic
d. Psychographic
3. Create Segment Profiles
4. Evaluate Possible Segments
5. Choose target market
Research Method
1. Problem Recognition
2. Research Design
a. Exploratory
b. Conclusive
c. Experimental
d. Descriptive
3. Data Collection
a. Surveys, focus group, etc.
4. Interpretation of Results
5. Reporting of Results
Model of Marketing System
1. Independent Variables
a. Marketing Mix [controllable]
b. Environmental Forces [uncontrollable]
2. Dependent Variables
a. Behavioral Response [preference, awareness]
b. Performance measures [sales, market share]
Environmental Forces
1. Economic- inflation, price of materials, willingness to spend
2. Competition
3. Legal- laws against, change ways
4. Political
5. Regulatory
6. Technology- new ways, communication, selling points
7. Sociocultural- Education, religion, beliefs, morals
Marketing Mix
1. Positioning-what differinated, perpetual mapping, associations
2. Product- quality, features, options, benefits, how needs are solved
3. Price- list price, competitor price, cost of materials, break-even, reference price
4. Place- where, when will it be sold, introduction in batches, etc.
5. Promotion- ads, pr, creating awareness, incentives
Marketing Management
1. Seeking- where are we, where do we need to be done, what needs haven’t been met, what are future changes?
2. Matching- what are opportunities match with marketing strategy and objectives
3. Programming- what are our goals, select target market, marketing mix, positioning
4. Implementation
5. Control
CRM
1. Improve Customer Service
2. Increase Loyalty/ Frequency
3. Develop Community Around Brand
CRM Model
1. Create Database
2. Analyze Database
3. Select Customer
4. Target Customer
5. Relationship Marketing
6. Privacy Issues
7. Metrics
Loyalty Econ (ABORRP)
1. Acquisition Cost
2. Base Profit
3. Operating Cost
4. Referrals
5. Revenue Growth
6. Price Premium
Product Attributes
1. Core Product
2. Supplemental Features
3. Emotional/ Symbolic Benefits
Consumer Buying Process
1. Problem recognition
2. Internal info search
3. External info search
4. Decision/ Purchase
5. Post-Purchase Evaluation
Positioning Statement
1. Determine Competitors, write how they are positioned
2. Define current position of your company, product, service, perceptual mapping
3. Write attributes that separate/differentiate
4. Write positioning statement