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Flashcards in Exam 1 Power Point Part B Deck (24)
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1

Strategies for Downsizing

- Eliminating products or SBUs that re not profitable or no longer fit firm's strategy

2

Environment

Circumstances, objects, or conditions by which one is surrounded

3

Marketing Environment

People/Organizations and Forces outside marketing that affect marketing organization
- Macro
- Micro

4

Microenvironment

- The company
- Suppliers
- Marketing Intermediaries
- Customers
- Competitors
- Publics

5

Macroenvironment

- Demographic Forces
- Economic Forces
- Natural Forces
- Technological Forces
- Political Forces
- Cultural Forces

6

Macroenvironment: Natural Forces Key Trends

1. Higher Costs of energy (renewable energy)
2. Shortages of raw materials
3. More government intervention
4. Consumption vs. Sustainability

7

Macroenvironment: Technological Forces

1. Changing Environment; new products and technology enabled products
- Internet
- Medicine
- Communication

8

Macroenvironment: Polical Trends

1. Increased Legislation to protect businesses an consumers
2. Changes in enforcement
3. Increased emphasis on ethical behavior and social responsibility

9

Macroenvironment: Cultural Trends

- Core Beliefs are Persistent
1. Passed from parents to children
2. Reinforced by schools, churches, businesses, and government
3. Shape attitudes and behavior

10

More Macroenvironment Cultural Trends

1. Achievement
2. Fitness and Health
3. Humanitarianism
4. Material Comfort
5. Individualism
6. Conformity
7. Progress

11

Qualitative Research Approach

- Guided one on one discussion
- Trained interviewer
- Detailed understanding

12

Advantages of Qualitative Research Approach

1. Flexible
2. Relatively Quick

13

Disadvantages of Qualitative Research Approach

1. Costly
2. Interviewer Bias

14

Qualitative Research Approach Additional

- Small, group discussions
- Often held in special facility
- Led by trained/skilled moderator
- Group dynamics and interaction are critical

15

Uses of Qualitative Research Approach

1. Test concepts, products, and communications
2. Reveal consumer perceptions and attitudes

16

Quantitative Research Approach

- Observational Research
- Mystery Shopper
- Ethnographic Research

17

Observational Research

- Can obtain information people are unwilling or unable to provide
- Cannot obtain feelings, attitudes or motives

18

Ethnographic Research

Observational in natural habitat

19

Experiment

1. Explain cause and effect relationships
- How will price levels affect sales?
2. Design is key
- Randomly assign objects to different groups
- Control Unrelated Factors

20

Survey Research

1. Most used research method
2. Best suited for gathering descriptive information
3. Gather information about people's:
- Characteristics
- Awareness
- Attitudes and Preferences
- Frequencies
- Intentions

21

Three Sampling Decisions

1. How is to be surveyed?
- Sampling Unit
2. How many units should be surveyed?
- Sample Size
3. How should sample be chosen?
- Sample Method
- Probability vs. Non-Probability

22

Questionnaire Decisions

1. What questions to ask
2. How to ask each question; open ended or closed
3. Wording of questions; simple direct, etc
4. Order of Questions; branching, potential for bias

23

Four Decisions for Survey Research

1. What data is needed to address research question?
2. Who is target population
3. How should participants be contacted?
4. What is sampling Plan? Sample Unit/Sample Size

24

Consumer Decision Making Process

1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Postpurchase behavior