17 extra Flashcards
(30 cards)
Q: Why are customers willing to trust a new product from an unknown company?
A: If the product is affordable and hits a real need or pain point.
Q: What does “Ride Waves of Interest” mean?
A: Build off the success of an existing trend or product without just copying it (“not a me-too” product).
Q: What is the goal when riding a wave of interest?
A: To create a product that enhances or extends the original idea.
Q: What does “Stretch or Entertain to the Extreme” mean?
A: Make an extreme version of an existing product for people who want more excitement or intensity.
Q: Why does stretching a product to the extreme work?
A: It appeals to customers who want a more intense, exaggerated experience.
Q: What does “Build on a Core Product” mean?
A: Take a well-known product and innovate or improve it in a new way.
Q: Why is building on a core product powerful?
A: Customers already trust and recognize the core product, making them more willing to try a new version.
Q: What is “Cool Hunting”?
A: Finding successful product ideas from other countries and bringing them to the U.S. market.
what is recruiting and selecting
- define the job
2 profile the ideal candidate
3 find and attract pool of applicants
4 select sales personnel
5 evaluate the process
three dimensions of role perception
role accuracy
role conflict
role ambiguity
what is role accuracy
are the salesperons perceptions of the demands being placed upon him or her correct
role ambiguity
salesperson does not have the necessary information to perform the job adequately
product orientation
A belief that supply generates demand. The sole focus is on the product
sales orientation
A belief that marketing’s purpose is to sell products. Uses aggressive sales techniques
market orentation
The belief that products should focus on satisfying customer needs at a profit
societal orientation
The belief that products should provide value to both the customer as well as to society as a whole. Concerned about the enviroment
regulatory forces
Changes in laws and trade regulations
data extrapolation
discovering relationships between variables
demographic segmentation
the market is divided based on differences in age, gender, income, level of education, social class, family composition, religion, or ethnicity
psychographic segmentation
the market is divided based on differences in personality, motives, or lifestyle
Behavioral segmentation
the market is divided based on differences in the core benefits customers seek, usage situations, brand loyalty, usage rates and price sensitivity
product item
specific version of a product (ex: honda civic)
buyer persona
portrayal of the ideal customer
