| Question | Answer |
| monopolistic competition | All firms produce similar yet not perfectly substitutable products. |
| how do consumers solve the buying problem for different types of goods? | significant differences between brands and high involvement= complex buying behavior. significant differences between brands and low involvement= variety seeking buying behavior. few differences between brands and high involvement=dissonance reducing buying behavior. few differences between brands and low involvement = habitual buying behavior |
| purchase situation affect buying behavior | purchase reason, time available, phsycial surroundings |
| social influences that affect buying behavior | family, social class, reference groups, culture. within these: refrence groups, opinion leaders, culture. occupation, education, type of housing, location of housing |
| psychological variables that affect an individuals buying behavior | motivation, perception, learning, attitude, personality/lifestyle |
| economic variables that affect an individuals buying behavior | economy of purchase, convenience, efficiency of use, dependability |
| swot analysis | strengths, weaknesses, opportunities, threats |
| porters five forces in analyzing competition | potential entrants, buyers, suppliers, substitutes, all contribute to segment rivalry |
| types of competition in a market | monopoly, oligopoly, monopolistic compitition, pure competition |
| opportunities or problems in the environment | competitive, economic, technological, political and legal, cultural and social, resources and objectives in the firm. |
| marketing program | the marketing plan plus other marketing plans make up a firm's marketing program |
| marketing plan | guides the implementation and control of a marketing strategy |
| 4p's | product, price, place, promotion |
| marketing strategy and its planning process | specification of a target market and a related marketing mix. can be target marketing where the marketing mix is tailored to fit specific target customers or can be mass marketing, which vaguely aims at everyone with the same marketing mix. |
| ge matrix | shows relative industry attractiveness and business unit strength. calculated by first identifying criteria for each, determining the value of each parameter in the criteria and multiplying that value by a weighted factor |
| BCG matrix | variables: market growth rate compared with relative market share. classified as cash cow, star, question mark, dog |
| ansoff's matrix product development | new products, present markets |
| ansoff's matrix diversification | new markets, new products |
| ansoff's matrix market development | new markets, present products |
| ansoff's matrix market penetration | present markets, present products |
| 4 types of marketing opportunities (ansoff's matrix) | market penetration, market development, product development, diversification |
| myopic | short sighted. important for company to address all company orientations in order to avoid slipping into a myoptic state. that is, they need to broadly define themselves. |
| company orientation | simple trade era: sell surplus. production concept: consumers buy products that offer most quality, or innovation of features. selling concept: consumers, if left alone, will not buy enough products. marketing concept: determining and satisfying needs and wants of target markets more effectively and efficiently than competitors at the department level and at the company level |
| marketing management process | whole company strategic management planning matches resources to market opportunities. marketing planning, implement marketing plan and program, control marketing plan and program, adjust plans as needed and start again at marketing planning. |
| marketing strategic planning processes | the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changin marketing opportunities. |
| pyramid of corporate social responsibility | economic, be profitable. legal, obey the law. ethical, do what is right. philanthropic, be a good citizen. |
| issues of marketing ethics and corporate responsibility | how socially responsible should a corporation be? discrepencies between needs of the company and of society. for instance, what if profits suffer because of social responsibility (big tobacco). group needs vs. individual needs-which needs should be satisfied? all? |
| challenges to the non-profit sector | charities, volunteering, benefits |
| market-directed economic system | consumer driven. adjusts itself, price is measure of value, freedom of choice, limited government role |
| planned economic system | government planners decide the economy. can work well if there is a simple economy or adverse conditions. |
| role of the universal functions of marketing | buying, selling, storing, financing, standardization and grading, risk taking, transporting, marketing information |
| possession utility | power to provide and sell to consumer |
| place utility | product available where consumers want it |
| time utility | ability to provide product when the consumer wants it |
| task utility | performing activities on behalf of the consumer |
| form utility | physical product consumers need |
| types of utility | form, task, time, place, possesion |
| macro-marketing | a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society. (planned versus market-directed economic system) |
| macro-marketing | a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society. (planned versus market-directed economic system) |
| micro-marketing | the performance of activities that seek to accomplish an organziations objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producers to customer or client. involves exchanges and builds relationships. |
| exchange | the provision or transfer of goods, services, or ideas in return for something of value |
41 cards - created oct 10, 3:31pm
groups
- None
category
none