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Marketing Exam

QuestionAnswer
Production orientation - supply and demand - we made stuff that people will buy - internal
product orientation - make products you think are cool and tell people to like them - internal
Selling orientation - good salespeople - internal
Marketing orientation - serving target market rather than pushing it - caring about the target market - external
Societal marketing orientation - serve customer well, that is good for society - external
Marketing Management Orientations Production, product, selling, marketing, societal
Marketing strategies and activities that companies use to get custoemrs, build strong relationships, and create superior customer value to capture value from customers in return
Value Equation Value = benefits/costs
Value Proposition proposed value, why do business with us?
Customer relationships want long-term relationships and not short-term transactions want raving fans
4 P's Product, place, price, promotion
strategic planning organization-wide business planning, marketing. What are we about? who are we going to serve? Capabilities/competence to make it.
Business Portfolio a collection of businesses and products that make up the economy
BCG Matrix Question Mark - pretty new, intro phase Star - both increasing, growth phase Cash Cow - market not very fast, growing, plateau phase Dog - both declining, decline phase
Value Stream value is flowing downstream to customers
Segmentation Measurable, accessiblel, substancital, differentiable, actionable
Targeting evaluating market segments, target market, undifferenticated marketing
Differentiation ID a set of possible competitive advantages to build a position choose the right competitive advantages
Positioning the way the product is defined by consumers on important attributes
SWOT anaylisis strengths, weaknesses, opportunities, and threats
Return on Marketing Investment today most companies want more accountability for spending on Marketing activities
Mirco-environment value stream, the market, suppliers, and marketing intermediaries
Macro-environment the factors that are external to the ocmpany, and largely out of company's control
Marketing Research used to gather information to support the decision making process in solving business problems - required to make good decisions
Qualitative vs Quantiive research Qualitiative - ask open ended essay questions - focus group Quanitive - closed in questions - survey
Secondary vs Primary data Secondary - someone else done similar research Primary. - your own research
Databases/data warehouses collection of internal information about a firm's sales mix, customers, etc.
Marketing research projects there is a process and it can stop as soon as the information needed is collected
Ethical issues privacy, sugging/frugging
Consumer Buying Behavior buys behavior of the organizations that buy goods and services for production use
Retail vs Wholesale transactions Retail - B to C Wholesale B to B
Consumer market vs business market Consumer - buys behavior of the organizations that buy goods and services for production use Business markets - market structure and demand - fewer but larger buyers, derived and inelastic and fluctuaing demand
Derived demand the idea that demand fro a business product is derived from the demand for the consumer product it goes into
New Task vs Straight Rebuy straight rebuy - buyer routinely redorers something without any modifications modified rebuy - simple variation from the normal New Task - buy situation in which the buyer purchases a product or service for the first time
Created by: user-1991493
 

 



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