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70 Cards in this Set
- Front
- Back
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Throdling
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Choking-
Net flex- treats customers diff. depending on using habits. Ex. guy thats heavy user- cut back # of movies by slowing shipping |
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Diverting
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(Grey Market)
One comp. buys form manufactuere and sells to another comp. for more $ |
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Marketing Citizenship
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The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibility expected by stockholders
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Stockholder
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Constituents who have a "stake" or claim in some aspcet of the companies products, operations, markets, industry, and outcomes.
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Marketing ethics
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principle and standards that define acceptale marketing conducts as determined by a various stakeholders.
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Cause- Related Market
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The practice of linking products to a particular cause on an ongoing or short-term basis.
Ex. yoplay and pink tops for breast cancer |
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Strategic Philanthropy
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The synergistic use of organizational core competencies and resources to address key stakeholder's interests and achieve both organizational and social benefits.
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Green Marketing
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The specific developement, pricing, promotion, and distribution of products that do not harm the natual environment.
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Green Marketing Goals
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1. eliminate the concept of waste
2. reinvent the concept of a product 3. make prices refelct actual and environmental costs. |
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What are markets?
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The combination of people that will potentially buy your product.
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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. |
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What part of the market should we sell to?
I. Segmentation strategy 3 |
1. undifferentiated
2. concentrated 3. differentiated |
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Undiferentiated
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go for a whole universe of customers (customers are the same) Ex. salt, sugar, gas. (SHOT GUNNING)
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Concentrated
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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. |
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Differentiated
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customers diff. but still going after all of them. 3 diff. products- 3 diff. prices.- TAKES ALOT OF RESOURCES.
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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 |
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Fad
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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.
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Agricultural products
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are hardest to speed up production and cant control production speed.
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Will a particular segment make $ for our company?
I. Sales Estimate 2 |
1. market potential
2. company sales potentials |
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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. |
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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. |
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What part of the market should we sell to?
I. Segmentation strategy 3 |
1. undifferentiated
2. concentrated 3. differentiated |
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Undiferentiated
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go for a whole universe of customers (customers are the same) Ex. salt, sugar, gas. (SHOT GUNNING)
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Concentrated
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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. |
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Differentiated
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customers diff. but still going after all of them. 3 diff. products- 3 diff. prices.- TAKES ALOT OF RESOURCES.
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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 |
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Fad
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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.
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Agricultural products
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are hardest to speed up production and cant control production speed.
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Will a particular segment make $ for our company?
I. Sales Estimate 2 |
1. market potential
2. company sales potentials |
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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. |
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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 |
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Surveys
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1.customers
2.sales-force 3.experts |
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Time series analysis
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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) |
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Jaming
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enamy messes with person product. Ex. crystal pepsi and coke. coke rose prices to make market test look good.
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consumer buying decision process.
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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 |
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Info. search
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1.internal search-used before- know what to buy
2.external search-marketers come in. |
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Evoked set
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2 to 7 brands- will solve your problem.
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Framing
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try to frame picture where you favor their product. (evaluation of alternatives)
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Cognitive disonance and buyers remorse
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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.
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Situational influences on the buying process
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ex. his tires popped and he had to buy tires he didnt like brand. MOST COMMON INTERUPTION IS TIME.
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Involvement
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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. |
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Psycological influences on the buying decision.
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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. |
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Marketing to children
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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. |
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product
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everything the buyer recieves in the exchange
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2 types of product
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1.consumer products
2.organizational products |
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consumer products
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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 |
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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. |
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price skimming
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charging high $ in the beginning.
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product mix
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entire combo. of products they carry. measured by width and depth.
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Narrow product mix
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all products simular or same. ex. shoe store- krogers is narrow but deep such as cereals many different types of kelloge cereal
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wide product mix
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Ex. walmart. very different types of products. (shallow-only one type of product such as hairdryer but wide.)
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brand equality
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what brand is worth
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brand
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name symbol and design that identifies one sellers products form others. ex. intel, american airlines (double A's)
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product
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everything the buyer recieves in the exchange
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2 types of product
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1.consumer products
2.organizational products |
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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 |
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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. |
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price skimming
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charging high $ in the beginning.
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product mix
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entire combo. of products they carry. measured by width and depth.
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Narrow product mix
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all products simular or same. ex. shoe store- krogers is narrow but deep such as cereals many different types of kelloge cereal
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wide product mix
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Ex. walmart. very different types of products. (shallow-only one type of product such as hairdryer but wide.)
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brand equality
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what brand is worth
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brand
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name symbol and design that identifies one sellers products form others.
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brand name
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part of brand that can be spoken.
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brand mark
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portion of brand that you cant say
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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. |
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line extentions
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take products and make small modification- most common innovation- cheap, already have brand
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cannibalization
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eating your own- make line extention and it does so well that customers buy the new product more than the old.
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product modification
2 |
ex. highlighters
1.functional modification 2.esthetic modification- just change color |
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phases of the new product development
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1.idea generation
2.screening 3.concept testing 4.business analysis 5.product development 6.test marketing 7.commercialization |
