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  1. HBS Marketing Framework
    • Analysis
    • Marketing Strategy
    • Marketing Mix
    • Customer Relationship Management
  2. HBS Marketing Framework - Analysis
    • Understand Value - 5 C's
    • Customers
    • Company
    • Competitors
    • Collaborators
    • Context
  3. HBS Marketing Framework
    Marketing Strategy
    • Create Value - Segmenting
    • Targeting
    • Positioning
  4. HBS Marketing Framework - marketing Mix
    • Capture Value - 4 P's
    • Product
    • Place
    • Promotion
    • Price
  5. HBS marketing Framework - Customer Relationship Management
    • Sustain Value
    • Customer Acquisition
    • Customer Retention
  6. Historical marketing approaches - era
    • Production Orientation
    • Sales Orientation
    • Marketing Orientation (Consumer: find customer needs/marketing: satisfy needs)
    • Relationship Orientation
    • Sustainable Orientation
  7. Maslow's Hierarchy
    • Physiological
    • Safety
    • Love/belonging
    • Esteem
    • Self-actualization
  8. Loyalty
    • Performance > expectations = delight
    • performance < expecations = disatisfaction
    • expectation = performance = satisfaction
    • Behavior (what people do, repeat purchase vs. attitude (what people dream about, how do you feel?)
  9. Loyalty ladder
    • new customer
    • regular purchaser
    • loyal supporter
    • advocate
  10. BCG Loyalty Chart
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  11. Product/Market Expansion Grid
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  12. New usage situation
    using an existing product for something new (e.g. Breathe right strips, athletes to snoring)
  13. Cannibalization
    New product destroys current customers
  14. BCG Matrix
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  15. Purchase Decision Process
    • Problem
    • search
    • Evaluation of Alternatives
    • Purchase Decision
    • Purchase Act
    • Postpurchase Evaluation
  16. Purchase Decision Process: search
    • External Search
    • internal Seach
  17. Purchase Decision Process: Evaluation of alternatives
    • Consideration Set (max seven products to consider, eliminate alternatives)
    • Heuristics: stereotyping, using mental shortcuts
    • Fishbein's Multi-Attribute Model
  18. Things that Affect consumer behavior
    • Culture: subculture, Acculturation
    • Social influences: asch Phenomenon, reference groups, opinion leaders
    • Family influences: household roles (autonomic role-independent, husband or wife dominant role, syncratic role-joint)
  19. Processing Types
    • Subliminal
    • Supraliminal
    • conscious (system 2-first time vs system 1 processing-practiced)
  20. Perceptual Filters
    • Selective Exposure
    • Selective attention
    • Comprehension
    • Elaboration
    • Retention
  21. Heuristics and Bias
    • Projection Bias
    • Hindsight Bias
    • Overweight probability of low frequency events
    • Hot/cold empathy bias
    • overconfidence
  22. Context effects
    • middle option
    • balance
  23. Choice Overload
    Too many options will result in no purchase
  24. Influence Book
    • Reciprocation
    • Commitment and Consistency
    • Social Proof
    • Liking
    • Authority
    • Scarcity
  25. Market Research Process
    • Define the Problem
    • Exploratory research
    • Formulate a hypothesis
    • create a research design
    • Collect data
    • Interpret and present research data
  26. Types of data
    • secondary data (government, private, online sources)
    • Primary Data (observation, interpretative research, experimental method, survey)
  27. Why not do market research
    • cost
    • time
    • what would I do without this information? does it matter, use an assumption?
    • what if my assumption is wrong?
  28. Causality vs correlation
    A causes B, A and B occur simultaneously
  29. Survey Questionnaire Design
    • What questions to ask
    • Ordering (don't prime the questions, demographic information at the end)
    • wording
  30. Types of survey scales
    • Symantec scale (1-7 good to bad)
    • Likert Scale: strongly disagree, disagree, neutral, agree, strongly agree
  31. Between/within subjects design
    Between subjects design- one group sees one stimuli and another group sees anotherWithin Subjects design- receive all treatments. Disadvantage: May be alerted to the hypothesis and that may change their response. You may want to use Within subject design when: learning studies over time- as they learn over time you want them to have the same stimuli over time
  32. Marketing Cheer
    • Stand for something
    • stand for something different
    • stand for something different that's important
  33. Unique selling position
    • EXAMPLE: To (target segment and need) our (brand) is (concept) that (point-of-difference)
    • Positioning must be constantly monitored and adapted
    • You must deliver on your positioning statement
  34. Perceptual Maps
    • A key to positioning a product effectively is the perceptions of consumers.  In determining a brand’s position and the preferences of consumers, companies obtain three types of data from consumers:
    • Evaluations of the important attributes for a product class.
    • Judgments of how similar the products are to one another.
    • Ratings of  how much each person knows about the products
    • From these data, it is possible to develop a perceptual map, a means of displaying via two dimensions the location products or brands occupy in the minds of consumers.
  35. Types of Segmenting
    • 1. Geographic - cut up market based on where people are (easiest to get, least helpful)
    • 2. Demographic - cut up market based on age, gender, religion, etc. (easy to get, not helpful)
    • 3. Psychographic - based on values of people
    • 4. Behavioral/Product related - based on benefits people seek when they buy a product, or usage rates, or brand loyalty. (most helpful, toughest to do)
  36. Effective Brand Names
    • Suggestive (of benefits)
    • Simple (easy to say and remember)
    • Distinct
    • Extendable
    • Translatable (into other languages)
    • Defensible (legal protection)
  37. Aaker's Model of Brand Equity
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Card Set:
2012-10-22 01:11:31
ACC 550

ACC 550 midterm
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