marketing final

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marketing final
2011-12-14 03:06:16

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  1. production era
    people believed that a product would sell itself
  2. sales era
    emphasis was placed on selling. persuading people to buy
  3. marketing era
    during this time, personal income and demand for product dropped rapidly during the great depression
  4. relationship era
    focuses on building long term, value-added relatioships overtime with customersand suppliers
  5. what are the elements of the marketing mix; 4ps
    product or service strategy, place or channel strategy, promotion strategy and pricing strategy
  6. Product or service strategy includes?
    patents, warranties, trademarks, brands, product design,packaging, symbol, and copyright.
  7. place or channel strategy includes?
    MFR,agents,jobbers, brokers, wholesaler, retailer,merchants, distributors, representation
  8. Promotional strategy includes what?
    Personal selling,advertising, direct mail, sales promotion,public relations,publicity,
  9. Pricing strategy includes what?
    all that the traffic will bear, skimming, high profit, fair profit,break even
  10. Strategic planning
    Identifying an organizations primary objectives and adopting courses of action towards those objective. It focuses on the big pictureof which industries are central to a firm's business
  11. tactical planning
    Guides the implementation of the activities specified in a strategic plan. Once a strategy is set, operational managers devise methods to acheive larger goals
  12. 5 uncontrollable elements
    Environments: competitive, social-cultural, economic, political-legal, technological.
  13. competitive environment
    competing organizations seek to satisfy markets
  14. political-legal environment
    law and interpretation of laws that require firms to operate under competitive conditions and protect consumer rights
  15. consumer rights-social cultural
    the right to: choose freely, be heard, safe, informed
  16. social-cultural environment
    the relationship between the marketer, society and culture
  17. Economic environment
    factors that influence buying power and marketing strategies, including stages of the business cycle, inflation and deflation, unemployment, income and resource availability
  18. technological environment
    application to marketingof knowledge based on science, innovations and inventions
  19. E commerce
    marketing over the internet
  20. advantages of e commerce
    geographical bourdaries, personalized marketing, interactive marketing, right time marketing, and intergrated marketing
  21. disadvantages of e commerce
    saftey of online payment, privacy issues, fraud and scams, site design and customer service, channel and copyright disputes
  22. what are the formulas for consumer behavior?
    consumer behavior is the function of the interactions of interpersonal influences and personal factors.

    lewins proposition- behavior is the function of the interactions of personal influences and pressures exerted by outside forces
  23. Interpersonal influence
    infuences: cultural, social,and family
  24. Personal factors
    needs, motives, perceptions, learnings, self concept, and attitudes
  25. b2c vs b2b- promotion
    b2b emphasize on personal selling and b2c emphasize on advertising
  26. b2c vs b2b- customer relations
    b2b: enduring and complex . b2c: infrequent contact
  27. decision making b2b vs b2c
    b2b: diverse group of org member and b2c: individual or household
  28. price b2b vs b2c
    b2b: competitive bidding.....b2c:List prices
  29. 6 methods to global strategy
    Importing,exporting,franchising, foreign licensing,subcontracting, international direct investment
  30. Importing
    importing involve purchasing foreign goods and services. an importer in a firm that brings in goods produced abroad to sell domestically or to be used as components in its products
  31. exporting
    refers to marketing domestically produced goods and services abroad; involves a continuous effort in marketing a firm's merchandise to customers in other countries
  32. franchising
    contractual arrangements in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer or other franchiser; has the right so sell products and use the franchiser's name.
  33. foreign licencing
    agreement that grants foreign marketers the right to distribute a firms merchadise or use its trademarks, patent or process in a specified area
  34. subcontracting
    assigns the production of goods and service to local firms
  35. international direct investment
    Direct investment in foreign firms, production and marketing facilities
  36. steps in the market research process
    Define the problem,conduct exploratory research, hypothesis, create a research design, collect data and interpret and present research
  37. Define the problem
    focuses on the reseacher's serach for relevant decision oriented information
  38. Conduct exploratory research
    refers to the information gained outside the firm
  39. formulate hypothesis
    a tentative explanation for some specific event
  40. creating research design
    a master plan or model for conducting market research
  41. collecting data
    collecting primary-collected for the first time and secondary data-collected from previously published sources
  42. Interpret and present findings
    for the purpose so that decsion makers can make effective judgement
  43. Market segmentation
    Division of the total market into smaller, relatively homogeneous groups
  44. 5 methods of market segmentation
    geographic, demographic, psychographic, product related, and geo-demographic
  45. geographic segmentation
    division of an overall market into homogenous groups based on their location
  46. Demographic segmentation
    division of an overall market into homogenous groups based on variables such as gender, age, gender, occupation, income, household size and family cycle
  47. Psychographic segmentation
    Division of population into groups that have similar attitudes, values and lifestyles
  48. Product Related segmentation
    division of an overall market into homogenous groups based on their relationship to a product. 80/20 principle-80 percent of revenues come from 20 percent of its customers
  49. geo-demographic segmentations
    division of the overall population on a combination of geographic( where u live), lifestyle, population characteristics
  50. Product matching marketing stategy 3 methods
    undifferentiated, differentiated, and concentrated marketing
  51. undifferentiated marketing
    focused on producing a single product and marketing it to all its customers. MASS MARKETING
  52. differentiated marketing
    focuses on producing several products and pricing, promoting and distributing them with different marketing mixes designed to satisfy smaller segments
  53. concentrated marketing
    focusing marketing on satisfying a single market segment; also called NICHE MARKETING
  54. Relationship marketng
    development, growth and maintenance of long term, cost effective relationships with individual customers, suppliers, employees and other partners for mutual benefit
  55. relationship marketing is based on promises of what
    low prices, high quality, prompt service, and superior service