Ch 5 and 6 Flashcards
(16 cards)
PROCESS OF PROVIDING THE NEEDS
AND SATISFYING THE WANTS THRU PRODUCTS AND
SERVICES
Marketing
OFTEN CALLED THE
MARKETING STIMULI
Products and services
IF PRODUCTS AND SERVICES ARE THE MARKETING STIMULI,
THEREFORE, THESE TWO FACTORS ARE THE ONE TRIGGERING OUR
________________
BUYING BEHAVIOR
THE NEED FOR THE “BEST” OFFERING IS A _______
MUST
_______________ CONSIDERED AS ONE OF THE MAJOR FIXED COST IN
BUSINESS OPERATION SPECIFICALLY ADVERTISING ACTIVITIES
*ASIDE FROM DETERMINING THE BEST PRODUCT OR SERVICES, THE
BEST __________________ SHOULD ALSO BE CONSIDERED
Marketing
PROMOTIONAL TOOL
UTILIZATION OF LINEAR PROGRAMMING:
*MEDIA ADVERTISING
*PRINT ADVERTISEMENT
*PRODUCT/SERVICES DEVELOPMENT
NEED FOR LINEAR PROGRAMMING IN MARKETING:
*COST EFFICIENT IN TERMS OF UTILIZATION OF RESOURCES
*SERVES AS CONTROL MECHANISM FOR PRODUCT DEVELOPMENT
*PROVIDE THE MOST EFFKEY FACTORS IN DECISION-MAKINGECTIVE AND EFFICIENT WAYS OF DOING
MARKETING
*ABLE TO RATIONALIZE ALL ASPECTS OF MARKETING IN SCIENTIFIC
MANNERS
KEY FACTORS IN DECISION-MAKING:
*STRONG KNOWLEDGE IN MARKETING TRENDS
*THOROUGH UNDERSTANDING ON MARKET AND
MARKETING SITUATIONS
*ORGANIZATIONAL CAPACITY
*A MARKETING PROCESS TO WHICH AN ENTIRE
POPULATION ARE DIVIDED INTO SUB-POPULATION
*TRIMMING OF MARKET
*TO IDENTIFY THE MOST SIGNIFICANT SEGMENT ALIGN
WITH THE OFFERED PRODUCTS OR SERVICES
Segmentation
SEGMENTATION AND TARGETING IDENTIFY THE REAL TARGET
____________ ON SCIENTIFIC DATA AND INFORMATION
MARKET BASED
LINEAR PROGRAMMING __________ PRACTITIONER TO IDENTIFY ALL
FACTORS CONTRIBUTORY TO MARKET SEGMENT AND DECIDE
WHICH SEGMENT IS BEST
CONT.
ALLOWS
*FOR THE APPLICATION OF LINEAR PROGRAMMING, WE WILL UTILIZE
ONLY THE STRATEGIES THAT ARE __________ IN TERMS OF
PERCENTAGE, INCOME, POPULATION DENSITY, PROXIMITY, ETC.
*TO PROVIDE THE BASIC, WE WILL UTILIZE ___________ SEGMENTATION ONLY
MEASURABLE
DEMOGRAPHIC AND
GEOGRAPHIC
*THE PROCESS OF DIVIDING THE MARKET BASED ON THE
PERSONAL OR DEMOGRAPHICAL CHARACTERISTICS OF
THE MARKET
*CONSIDERED TO BE THE MOST BASIC AND MOST UTILIZED
STRATEGY OF SEGMENTATION
Demographic segmentation
WHY IS IT NECESSARY TO DETERMINE THE
DEMOGRAPHICS OF THE MARKET PRIOR TO LINEAR PROGRAMMING?
HE PROFILES OF THE MARKET IS USEFUL ON THE FOLLOWING PREMISES:
1. VARIABLES CONTRIBUTORY TO PURCHASING POWER CAN BE
IDENTIFIED
2. VARIABLES CONTRIBUTORY TO POTENTIALITY OF THE MARKET IS
DETERMINED
3. LESS SIGNIFICANT VARIABLES ARE REMOVE FROM THE SEGMENT
4. DECISION IN TERMS OF PRICE IS BASED ON GIVEN SEGMENTS
*THE PROCESS OF DIVIDING THE MARKET BASED ON THE
GEOGRAPHICAL CHARACTERISTICS
*THIS STRATEGY FOCUSES ON FACTORS SUCH AS
ECONOMICS, FOOD HABITS, LANGUAGES OR CULTURE
Geographic segmentation
