Consumer Behavior exam

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Consumer Behavior exam
2011-02-06 15:06:03

for CB Exam, principles of marketing
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  1. Marketing activities influence
    • Revenue
    • Advertising
    • Brand
    • Research
    • Product development
  2. Marketing Mix
    Product, price promotion, place. Mixture of activities a company uses when planing the products it will make and sell.
  3. Product: A company should have a right product for each of the target markets
    • Product variety
    • Quality
    • Design
    • Features
    • Brand name
    • Packaging
    • Sizes
    • Services
    • Warranties
    • Returns
  4. Price: a company should price its products correctly in ralation to each other product and to competitor's products
    • List price
    • Discounts
    • Allowances
    • Payment period
    • Credit terms
  5. Promotion: a company should advertise its products effectively
    • Sales promotion
    • Advertising
    • Sales force
    • Public relations
    • Direct marketing
  6. Place: a company should distribute its products through the right channel and make them available in the right outlets
    • Channels
    • Coverage
    • Assortments
    • Lacations
    • Inventory
    • Transport
  7. Market
    Place: Physical, Virtual. Group of people. Product category.
  8. Define Marketing
    Planing + Execution of 4p, to create exchange B > C + Satisfy both.
  9. Marketing Concept
    Business philosophy that customers are king, taking care of customers
  10. Goal of marketing managers
    To increase market share, to increase revenues
  11. Characteristics of good Marketing manager
    • creativity
    • customer sensitivity
    • integrity
    • experience
    • Decision making skills
    • analitical
    • communication
  12. Marketing people should study CB to:
    understatnt consumer satisfaction / needs
  13. CB includes:
    • Searching for product
    • Buying
    • using
    • Evaluating
  14. Marketing strategy
    To develop a sustainable competitive advantage that delivers long-term profitability higher than industry averages and adequate to attract sufficient capital for growth.
  15. Marketing Strategy includes:
    target market, positioning, marketing mix
  16. Brand
    • is a personality that identifies a product: name, sing, symbol, design.
    • Psychological aspect - added value.
    • Extendable
  17. How to establish price
    • Cost
    • ROI on equipment
    • Compare to competitors
    • Comparison with alternative product
  18. Retailing
    • Is an intermediary between manufacturer and consumer.
    • Functions: Inventory, credit, customer service.
  19. Push promotion
    • is marketing activity that uses company's sales force and trade promotion to build up consumer demand.
    • Personal seling by retailer.
  20. Pull promotion
    • Strategy that requires high spending on advertising
    • Directed to customer
    • Advertising
    • Direct promotions
    • Discount promotions
  21. STP - Segmanation, targeting, positioning
  22. Segmentation
    process of dividing markets occording to different needs of many customers in to the smaller segment of similar needs of customers.
  23. Segment by:
    • Geographic
    • Demographic
    • Psychographic
    • Behavioral
  24. Target marget
    • market segment to which a particular product is marketed.
    • Which segment to serve.
    • how to select: fit abilities,competition, growth.
  25. Positioning
    • Process by which marketers try to create an image or identity in the minds of their target market,
    • Distinctive benefit to consumer
  26. Role of positionsing
    positioning guides to create marketing mix
  27. Purpose of the marketing plan
    • direction,
    • profit oportunities
    • Communicate realistic expectations
    • disciplined thinking
    • get approval for funding