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Marketing
| Question | Answer |
|---|---|
| steps in the buyer decision process | need recognition, information search, evaluations of alternatives, purchase decision, post-purchase behavious |
| Consumer Buyer Roles | initiator, influencer, decider, buyer, user |
| Buyer Behaviour Model | The environment, Buyers Black Box, Buyer Responses |
| Buyer Behaviour Environment | product, price, placement, promotion, people, process Cultural, economic, social, political |
| Buyers Black Box | buyers characteristics and buyers decision process |
| Buyer Responses | attitudes and preferences, purchase behaviour, relationship behaviour |
| Factors Influencing Consumer Behaviour | Cultural (culture group, social class) , Social (family, groups, roles/status) , Personal (age, occupation lifestyle) , Psychological (motivation, perception, beliefs) |
| Market Segmentation | Geographic, Demographic, Psychographic, Behavioural |
| Target Segments | segment size and growth, segment structural attractiveness, company objectives and resources |
| Targeting Strategies | Mass marketing, segmented marketing, niche marketing, individual marketing (undifferentiated, differentiated, concentrated, micromarketing) |
| Product Levels | Core product (what customer is buying), actual product (parts, features, brand name), augmented product (additional services-warranty/support) |
| Characteristics of Marketing Services | Intangibility, inseparability, variability, perishability |
| Value-Based Pricing (Good-value and Value-added) | Good-value: right combo of quality and service at a fair price Value-added: attach value added features to support higher prices |
| Cost-Plus Pricing | adding a standard mark-up to the price of a product |
| Competition-based Pricing | Going-rate: based largely on competitors prices Sealed-bid: based on how firm THINKS competitors will price |
| Market-skimming pricing | Set high price for a new product to skim revenue from segments willing to pay the high price |
| Market-Penetrating pricing | Set low price for a new product to attract large number of buyers and market share |
| Product Life Cycle Characteristics | Introduction, Growth, Maturity, Decline |
| Intensive Distribution | using as many wholesalers and retailers as possible ex:sweets, gum, softdrinks |
| Selective Distribution | using only best available per geographic area ex:furniture, electronic products |
| Exclusive Distribution | exclusive rights within particular territory ex:designer clothes and cars |
| Integrated Marketing Communication/ Promotion Mix | Advertising, sales promotion, personal selling, public relations, direct marketing |
| Digital Marketing | interacting with customers in the marketing channel, one-to-one basis, electronic network tools (internet, mobile phones) |
| Database | identify, decide, loyalty, remember buyer preferences, reactivate, data mining |
| Consumer Markets | individuals and households that buy goods and services for personal consumption |
| Business Markets | buy goods and services for use in production process |
| Buying situations | straight rebuy (no modifications), modified rebuy (change), new task (1st time) |
| Social criticisms | high prices, deceptive practices, high pressure selling, shoddy/unsafe products |
| Customer Driven Marketing Strategy | select customers to serve, choose value proposition, marketing management orientations |
| Marketing Management Orientations | Production concept, product concept, selling concept, marketing concept |
| Marketing Research | Define problem/research objectives,develop plan for collecting info, implement plan/collect and analyze date, report/interpret findings |
Created by:
kaylabarn
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