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Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
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Marketing Mix
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Product, price, promotion, place (4 P’s)
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Marketing Concept
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Value -> Customer Relationships -> Customer Loyalty
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Marketing Management Philosophies
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Production: focus on internal efficiency
Sales: focus on aggressive techniques for overcoming customer resistance Marketing: focus on satisfying customer wants and needs Societal: focus on satisfying customer wants and needs while enhancing societal well being |
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Market Orientation
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(gather marketing info, disseminate knowledge, coordinate response)
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Marketing Environment
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Macro: technology, political, economic changes Micro: consumers competitors suppliers (focus on due to control)
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Social Changes
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1. Values (i.e. fitness)
2. Household structure (i.e. divorce) 3. Component Lifestyle (i.e. work & home chores) 4. Changing of women roles (i.e. increase in work force) |
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Competition
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1. Brand (i.e. coke v. pepsi)
2. Industry (i.e. kia v. Porsche) 3. Form (i.e. sports vs. movie) 4. Generic (any disposable income) |
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Porter’s Five Forces
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1. Competition in an industry
2. Bargaining power of customer 3. Bargaining power of suppliers 4. Threat of sub products 5. Threat of new products |
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Segmentation
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1. Demographics
2. Psychographics 3. Behavioral 4. Needs |
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Consumer Culture
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sum total of learned beliefs, values, and customs that serve to direct the consumer behavior
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Targeting Strategies
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selecting the most appropriate market (undifferentiated, differentiated, niche, micro)
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Positioning
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place of a product or service offering in the minds of a target market
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Perceptual Maps
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displaying in two or more dimensions the location of products, brands, or groups of products in customers minds
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Repositioning
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changing customers perceptions of a brand
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Weber’s Law
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the stronger the initial stimulus, the greater the added intensity needed to perceive a difference
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