Mkt 3301- Final

Front 1

marketing

Back 1

Convincing someone to buy something from you for the price you want and to make sure the transaction takes place

Front 2

Marketing Plan

Back 2

Target market and marketing mix

Front 3

marketing mix

Back 3

a set of factors within the direct control of the market, Product, price distr promotion

Front 4

marketing research

Back 4

"information", a systematic gathering, recording, analysis and interpretation of information. to solve marketing problems

Getting information about customers (from them or things)they have done)

Front 5

Basic Research

Back 5

focuses on understanding things that happen in the world

Front 6

Applied research

Back 6

to extend the concepts enough to be able to know how you can control

Front 7

Product developement

Back 7

when you apply the knowledge you learned into a specific product

Front 8

product modification

Back 8

making products better or worse

Front 9

Ways to obtain marketing information

Back 9

Marketing research, Marketing information system, Decision Support System

Front 10

Criteria To make decisions?

Back 10

nature of problem
speed of changes in information
frequency of decisions
cost of benefit
affordability

Front 11

Make or buy decision

Back 11

Whether to make or buy, based on cost, special equipment and administrative feasibliity

Front 12

Routine Information Vs Non Routine

Back 12

routine has known frequency, non routine has no definite time (news/competitor development)

Front 13

uses of Information

Back 13

Data, estimates, predictions, relationships

Front 14

Magnitutde of outcomes

Back 14

what wil happen if you dont have accurate information, more information= better desicion

Front 15

Level of Uncertainty

Back 15

how unsure you are about what wil lhapen hile you help decide how value some inofrmation is.

The purpose is to reduce uncertain

Front 16

Characteristics of Information

Back 16

Accuracy Optimum level is where you get the most information you can get
Currency how recent it is is
Sufficiency if you get half of it it is not as valuable
Relevancy of Format and Detail,- how relevvan it is to what you want
Availability should be available to you in the correct format
Goodness It should be true and not mislead you

Front 17

Types of Research

Back 17

Exploratory- aims get qualitative information- uses variables
Descriptive- feels like qualitative but it is the statistical description of variables- statistical description
Casual- finds the relationship between variables

Front 18

Data Collection

Back 18

Primary data (specifically used for your problem via survey, observation or experiment)

Secondary Data (used once and companies make it available at cheaper costs (internal and external ex= census)

Front 19

Segmentation

Back 19

To understand consumers by identifying sizable groups large enough to make it worth while

Front 20

Types of Segmenting

Back 20

Mass marketing (one product for the whole group)

Segmentation (grouped and then customization, each group has the same product)

Custom Design (special for everyone)

Front 21

Targeting

Back 21

selecting a segment for marketing purposes

Front 22

Segmenting

Back 22

Diviing the market and understanding the groups that exsist

Front 23

Perceived position

Back 23

viewed by customers here

Front 24

true position

Back 24

where the firm is

Front 25

Desired

Back 25

Where the firm wants to be

Front 26

Posititioning

Back 26

the strategy to change where customers see you

Front 27

Profiling

Back 27

Customer Characteristics and differences (demographic and physcographic [likes/dislikes])

Front 28

Core product

Back 28

the need of the customer that you are trying to staisfy

Front 29

physical production

Back 29

physical characteristics (feature, function, benefit)

Front 30

Intangible (perceived)

Back 30

only in the mind of the customers

Front 31

Types of product

Back 31

product item - stock keeping unit
product- all sizes put togeather
product line- width/depth, when you have more variety avaiable
product mix- a group of related products

Front 32

classifciation

Back 32

helps us to explain to the customers

Front 33

types of goods

Back 33

durable/captial goods- can use for several items for consumer and business

nondurable /consumable goods0 can only be used onces (PERISHABLE /NOn perishable)

Front 34

Service goods

Back 34

intangible goods

Front 35

Consumer products

Back 35

convenience goods, shopping goods, specialty goods

Front 36

Business products

Back 36

production goods (part of final product)

Support goods (installations, accessory equipment, supplies)

Services

Front 37

Branding

Back 37

To convey what stands behind a product

Front 38

Trade Name

Back 38

legal name of a comapny that is registered

Front 39

Trade mark

Back 39

a symbol/color scheme that can be registered

Front 40

Brand

Back 40

any symbol that identifies a marketer and its a product

Front 41

brand equity

Back 41

NPV of additional sales (can you help increase sales)

Front 42

branding strategies

Back 42

multiproduct branding ,
multi branding- a single company markets products that compte with each other

private branding-
mixed branding
generic branding

Front 43

packaging

Back 43

functions are containment, protection, and decoration

Front 44

Dissificatoin

Back 44

helps explain products to customers and market them better

Front 45

Channels of distribution

Back 45

begin manufacture, wholesale, retailer customer (end)

Front 46

transcactional

Back 46

buying, selling risk taking

Front 47

logistical

Back 47

sorting assorting, sotring transporting

Front 48

facilitating

Back 48

financing, repairing/maintaining

Front 49

Types of intermediaries

Back 49

traditional channels (buy) (1 full service/limited service)
agents and brokers