Marketing 301 Final Exam Part 1

It stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas marketed to customers.

The idea that an organization should 1) strive to satisfy the needs of consumers 2) while also trying to achieve the organization's goods

Focuses its efforts on 1) continuously collecting information about consumer's needs 2) sharing this information across departments and 3) using it to create customer value

Discovering and satisfying needs

1920's; Mass production

ford cars = make more with more options.

1960's; more sales people = higher profit. using telemarketers, etc.

Assumed they had the best beer

No "marketing" to speak of; sales force that operated mainly by buying rounds in taverns

Spread message about product/service as cost-effectively as possible

One or more specific group of potential consumers toward which an organization directs its marketing

High involvement purchase. engage in extensive info search, consider many product attributes and brands. form attitudes and participate in word of mouth communication. companies give info

Most widely used.
Central route - (people highly involved, high elaboration) when making argument.

Peripheral route - (low elaboration) pictures and music which do not make an argument; not involved

High - builds image, exclusive distribution, ads + personal selling
low - build habits, stock everywhere, maintain quality

a filtering of exposure, comprehension, and retention.

ex: color crystals are better, product name, etc.

Obtain seals of approval, secure endorsements, provide free trails/samples, give extensive instructions, provide warranties/guarantees