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70 Cards in this Set

  • Front
  • Back
Throdling
Choking-
Net flex- treats customers diff. depending on using habits.
Ex. guy thats heavy user- cut back # of movies by slowing shipping
Diverting
(Grey Market)
One comp. buys form manufactuere and sells to another comp. for more $
Marketing Citizenship
The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibility expected by stockholders
Stockholder
Constituents who have a "stake" or claim in some aspcet of the companies products, operations, markets, industry, and outcomes.
Marketing ethics
principle and standards that define acceptale marketing conducts as determined by a various stakeholders.
Cause- Related Market
The practice of linking products to a particular cause on an ongoing or short-term basis.
Ex. yoplay and pink tops for breast cancer
Strategic Philanthropy
The synergistic use of organizational core competencies and resources to address key stakeholder's interests and achieve both organizational and social benefits.
Green Marketing
The specific developement, pricing, promotion, and distribution of products that do not harm the natual environment.
Green Marketing Goals
3
1. eliminate the concept of waste
2. reinvent the concept of a product
3. make prices refelct actual and environmental costs.
What are markets?
The combination of people that will potentially buy your product.
Requirements for a Market
4- last one has 2 subheadings
1. want or need that product
2. ability to buy the product
3. willingness to use thier buying power (consumer confedence)
4. authority to buy the product.
a. legal athority Ex. beer
b. organizational athority- only one person in an organization has athority to buy for organization.
What part of the market should we sell to?
I. Segmentation strategy
3
1. undifferentiated
2. concentrated
3. differentiated
Undiferentiated
go for a whole universe of customers (customers are the same) Ex. salt, sugar, gas. (SHOT GUNNING)
Concentrated
customers differ- only go for one seg. of customers.-lets little companies compete against big companies.
Ex. Isuzu and GM- Isuzu concentrated on SUV and did good.
Differentiated
customers diff. but still going after all of them. 3 diff. products- 3 diff. prices.- TAKES ALOT OF RESOURCES.
How do we segment a market?
I. Segmentation variables
4
1.Demographic variables (facts)-age,gender,race, income.
2.Geographic variables- region, urban,city size,market density.
3.Psychographic variables (hard to get)-motives, personality, lifestyles.
4.Behavioristic variables- volume usage,benefit expectations,brand loyalty
Fad
a product that is popualr b/c its uniqueness. Product that kills itself off by becoming popular. Short product life cycle. Ex. pet rock-90 days- happened in texas with Emus.
Agricultural products
are hardest to speed up production and cant control production speed.
Will a particular segment make $ for our company?
I. Sales Estimate
2
1. market potential
2. company sales potentials
Segments must.
2
1. have to be mutually exclusive and not overlap at all- only fall in one segment.
2. must be exhaustive- everyone must be in segment.
Requirements for a Market
4- last one has 2 subheadings
1. want or need that product
2. ability to buy the product
3. willingness to use thier buying power (consumer confedence)
4. authority to buy the product.
a. legal athority Ex. beer
b. organizational athority- only one person in an organization has athority to buy for organization.
What part of the market should we sell to?
I. Segmentation strategy
3
1. undifferentiated
2. concentrated
3. differentiated
Undiferentiated
go for a whole universe of customers (customers are the same) Ex. salt, sugar, gas. (SHOT GUNNING)
Concentrated
customers differ- only go for one seg. of customers.-lets little companies compete against big companies.
Ex. Isuzu and GM- Isuzu concentrated on SUV and did good.
Differentiated
customers diff. but still going after all of them. 3 diff. products- 3 diff. prices.- TAKES ALOT OF RESOURCES.
How do we segment a market?
I. Segmentation variables
4
1.Demographic variables (facts)-age,gender,race, income.
2.Geographic variables- region, urban,city size,market density.
3.Psychographic variables (hard to get)-motives, personality, lifestyles.
4.Behavioristic variables- volume usage,benefit expectations,brand loyalty
Fad
a product that is popualr b/c its uniqueness. Product that kills itself off by becoming popular. Short product life cycle. Ex. pet rock-90 days- happened in texas with Emus.
Agricultural products
are hardest to speed up production and cant control production speed.
Will a particular segment make $ for our company?
I. Sales Estimate
2
1. market potential
2. company sales potentials
Segments must.
2
1. have to be mutually exclusive and not overlap at all- only fall in one segment.
2. must be exhaustive- everyone must be in segment.
Secondary segments need to be close to the 1st one.
I. Sales forecasts
5
1. executive judgement (gut feeling)
2.Surveys
3.Time series analysis
4.regression analysis
5.market tests
Surveys
3
1.customers
2.sales-force
3.experts
Time series analysis
4
1.trend
2.cycle (cows and farmers price up and down.)
3.seasonal (snow shovels)
4.random factor (longer its been since it happened closer it is from happening)(Ex. hurricanes in regions of countires)
Jaming
enamy messes with person product. Ex. crystal pepsi and coke. coke rose prices to make market test look good.
consumer buying decision process.
5
1.problem recognition
2.info. search (evolked set)
3.evaluation of alternatives (framing)
4.purchase (Ex. 7-11 and circle K have lines down to a tee)
5.post purchase evaluation
Info. search
2
1.internal search-used before- know what to buy
2.external search-marketers come in.
Evoked set
2 to 7 brands- will solve your problem.
Framing
try to frame picture where you favor their product. (evaluation of alternatives)
Cognitive disonance and buyers remorse
when at home regret buying osmething or think about it. not sure if you made right decision. Ex. cheverlet had program which sent safety kit and best materials they re-enforced you did a good job.
Situational influences on the buying process
ex. his tires popped and he had to buy tires he didnt like brand. MOST COMMON INTERUPTION IS TIME.
Involvement
2
1.volume- high or low. Ex. how you treat your car like dads red car- high envolvement.
2.duration-induring (perminent) and situation (temporary). Ex. hand gun and train killer.
Psycological influences on the buying decision.
3
1.selective exposure- do you let sensory stimuli into head. Ex. human brain blocks out other noises when talking to someone but also listen for what we want to hear. (monitering)
2.selective distortion- interpret things so that you believe it. so it will agree with you. Ex. gatorade with mike jordan and mountain dew.
3. selective retention- if cant change itfo to agree with it then wont trasfer from short term to long memory.
Marketing to children
3
1.direct market-spending of thier own $- 8 bill. a yr.-descretionary spending 100%.
2.influence market- ask parents for something 500 bill.
3.future market- money they will spend in future-brand loyal.
product
everything the buyer recieves in the exchange
2 types of product
1.consumer products
2.organizational products
consumer products
4
1.convnience-frequent purchase, low cost, putin path, routeine responsive
2.shopping-less frequent, higher search effort ex. car
3.specialty-start to treat product as monopoly. ex. dr pepper, bluebell
4.unsought-dont want to buy but have to buy ex. tow truck, heart surgery, divorces, bail bonds
Product life cycle
4
1.introduction stage-
marketing focus:education
no comp.,profit is neg.
2.growth stage-
marketing focus:brand
sales and profit increase,comp starts. PROFITS TOP OUT AT THIS STAGE AND START TO GO DOWN.
3.maturity stage-
marketing focus:differentiation (product features)
SALES TOP OUT
4.decline stage-
marketing focus:reminder advertising
like dog on BCG, need to reassure customers that you will be there.
price skimming
charging high $ in the beginning.
product mix
entire combo. of products they carry. measured by width and depth.
Narrow product mix
all products simular or same. ex. shoe store- krogers is narrow but deep such as cereals many different types of kelloge cereal
wide product mix
Ex. walmart. very different types of products. (shallow-only one type of product such as hairdryer but wide.)
brand equality
what brand is worth
brand
name symbol and design that identifies one sellers products form others. ex. intel, american airlines (double A's)
product
everything the buyer recieves in the exchange
2 types of product
1.consumer products
2.organizational products
consumer products
4
1.convnience-frequent purchase, low cost, putin path, routeine responsive
2.shopping-less frequent, higher search effort ex. car
3.specialty-start to treat product as monopoly. ex. dr pepper, bluebell
4.unsought-dont want to buy but have to buy ex. tow truck, heart surgery, divorces, bail bonds
Product life cycle
4
1.introduction stage-
marketing focus:education
no comp.,profit is neg.
2.growth stage-
marketing focus:brand
sales and profit increase,comp starts. PROFITS TOP OUT AT THIS STAGE AND START TO GO DOWN.
3.maturity stage-
marketing focus:differentiation (product features)
SALES TOP OUT
4.decline stage-
marketing focus:reminder advertising
like dog on BCG, need to reassure customers that you will be there.
price skimming
charging high $ in the beginning.
product mix
entire combo. of products they carry. measured by width and depth.
Narrow product mix
all products simular or same. ex. shoe store- krogers is narrow but deep such as cereals many different types of kelloge cereal
wide product mix
Ex. walmart. very different types of products. (shallow-only one type of product such as hairdryer but wide.)
brand equality
what brand is worth
brand
name symbol and design that identifies one sellers products form others.
brand name
part of brand that can be spoken.
brand mark
portion of brand that you cant say
types of brands
3
1.manufacturer brands- org. that makes product put own brand on it. ex. ford- want you to know you will get the same thing everywhere
2.private/distributers brand- org. that sells it retail puts their brand on it. ex. sears kinmore washers and wirlpool actually makes them.
3.generic brand- no brand what so evr. ex toiletpaper just says toiletpaper on it and nothing else.-cant run ads for generic-cost less- when in a recession you buy these.
line extentions
take products and make small modification- most common innovation- cheap, already have brand
cannibalization
eating your own- make line extention and it does so well that customers buy the new product more than the old.
product modification
2
ex. highlighters
1.functional modification
2.esthetic modification- just change color
phases of the new product development
7
1.idea generation
2.screening
3.concept testing
4.business analysis
5.product development
6.test marketing
7.commercialization