Midterm (C1-7) Flashcards

1
Q

4 orientations of marketing and what they are

A
  • product
  • sales
  • market
  • value-based
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

4 strategies to create customer value

A
  1. customer excellence: retaining loyal customers and excellent customer service
  2. operational excellence: efficient operations and excellent supply chain and HRM
  3. product excellence: having products with high perceived value and effective branding and positioning
  4. locational excellence: having a good physical location and internet presence
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

5 steps of the marketing plan

A
  1. define mission and objectives
  2. situation analysis
  3. identifying and evaluating opportunities using STP
  4. implement marketing mix and allocate resources
  5. evaluate performance
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

CDSTEP

A
cultural
demographic
social
technological
economic
political
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

cash cow

A

low market growth rate

high market share

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

stars

A

high market growth rate

high market share

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

question mark

A

high market growth rate

low market share

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

dogs

A

low market growth rate

low market share

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

market penetration

A

current markets

current products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

market development

A

new markets

current products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

product development

A

current markets

new products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

diversification

A

new markets

new products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

3 factors in a firm’s microenvironment

A
  1. company capabilities
  2. corporate partners
  3. competition
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

competitive intelligence

A

used by firms to collect and synthesize info about their position in respect to their rivals; allows companies to anticipate changes rather than react

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

gen x

A

baby boomer’s children

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

gen y

A

millennials

17
Q

5 steps in the consumer buying process

A
  1. need recognition
  2. search for information
  3. evaluate alternatives
  4. purchase
  5. post purchase
18
Q

3 determinants on how much time consumers will spend searching for information before buying

A
  1. perceived benefits vs. perceived costs of search
  2. locus of control
  3. actual/perceived risk
19
Q

2 types of needs in the need recognition stage

A

functional

psychological

20
Q

3 possible postpurchase outcomes

A
  1. customer satisfaction
  2. postpurchase dissonance
  3. customer loyalty
21
Q

3 factors affecting consumer buying decisions

A
  1. psychological
  2. social
  3. situational