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Stack #4622116
| Question | Answer |
|---|---|
| What is the marketing environment? | All external forces that affect a firm's ability to develop price promote and distribute products. |
| Micro vs Macro environment | Micro company suppliers intermediaries customers competitors. Macro demographic economic technological political/legal sociocultural. |
| What is SWOT analysis? | Framework analyzing internal Strengths and Weaknesses and external Opportunities and Threats. |
| Reactive vs Proactive environmental response | Reactive respond after change occurs. Proactive anticipate and act before change. |
| What is STP? | Segmentation → Targeting → Positioning process for selecting and serving customers. |
| Four bases of segmentation | Demographic Psychographic Behavioral Needs. |
| Demographic segmentation | Segmenting by age gender income education family size. |
| Psychographic segmentation | Segmenting by lifestyle values personality. |
| Behavioral segmentation | Segmenting by usage rate loyalty benefits sought. |
| Needs-based segmentation | Segmenting based on specific customer needs or problems. |
| What are the three VALS orientations? | Innovators Ideals Achievement Self-expression. |
| Undifferentiated targeting | Single marketing mix for entire market low cost low customization. |
| Differentiated targeting | Different marketing mixes for multiple segments higher cost higher relevance. |
| Niche targeting | Focus on one small segment strong fit but higher risk. |
| Micromarketing | Highly customized marketing to individuals or local markets. |
| What is positioning? | Designing a product's image to occupy a distinct place in consumers' minds. |
| What is a perceptual map? | Visual representation of how consumers perceive brands relative to competitors. |
| What is a value proposition? | Promise of value explaining why a consumer should buy a product. |
| Components of a positioning statement | Target market frame of reference point of difference reason to believe. |
| Joint demand | Demand where two products are used together such as printers and ink. |
| Derived demand | Demand that comes from demand for another product. |
| Business vs consumer markets | Business fewer buyers larger purchases derived demand. Consumer many buyers smaller purchases. |
| Types of business products | Raw materials component parts installations supplies services. |
| Culture vs subculture | Culture shared values of a society. Subculture smaller group within culture. |
| Enculturation | Learning one's original culture. |
| Acculturation | Adapting to a new culture. |
| Reverse acculturation | Influence of a subculture on the dominant culture. |
| Corporate social responsibility | Company actions that benefit society beyond profit. |
| Sustainability | Meeting present needs without harming future generations. |
| Global market standardization | Using the same marketing strategy across countries. |
| Licensing vs contract manufacturing | Licensing sell rights to brand or process. Contract manufacturing outsource production. |
| Sections of a marketing plan | Executive summary situation analysis objectives strategy implementation evaluation. |
| 5-step consumer decision-making process | Need recognition information search evaluate alternatives purchase post-purchase. |
| Awareness vs evoked set | Awareness all known brands. Evoked seriously considered brands. |
| Compensatory decision model | Trade-offs allowed between attributes. |
| Non-compensatory decision model | No trade-offs options eliminated if they fail criteria. |
| Conjunctive model | Minimum cutoff for all attributes. |
| Lexicographic model | Best attribute determines choice. |
| Cognitive dissonance | Post-purchase doubt or anxiety. |
| Resolved vs unresolved dissonance | Resolved justified decision. Unresolved regret remains. |
| Reference groups | Groups that influence behavior or attitudes. |
| Primary vs secondary reference groups | Primary frequent interaction. Secondary less frequent. |
| Selective exposure | Seeking information that supports beliefs. |
| Selective distortion | Interpreting information to fit beliefs. |
| Selective retention | Remembering supportive information. |
| Theory of Reasoned Action | Behavioral intention driven by attitude and subjective norms. |
| Primary vs secondary data | Primary collected first-hand. Secondary existing data. |
| Ordinal vs ratio scales | Ordinal ranked order. Ratio true zero meaningful intervals. |
| Likert scale | Agreement scale such as strongly disagree to strongly agree. |
| Semantic differential scale | Scale using opposite adjectives. |
| Cluster sampling | Population divided into clusters random clusters selected. |
| Stratified sampling | Population divided into strata samples from each. |
| Snowball sampling | Participants recruit other participants. |
| BDI meaning | Brand Development Index compares brand consumption to population size. |
| CDI meaning | Category Development Index compares category consumption to population size. |
| BDI/CDI above 100 means | Consuming more than expected. |
| BDI/CDI below 100 means | Consuming less than expected. |
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user-2022276