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Intro to marketing > Full Module > Flashcards

Full Module Flashcards

(90 cards)

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1
Q

What is the 2017 AMA definition of marketing?

A

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

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2
Q

What are the 4Ps of marketing?

A

Product, Price, Place, Promotion.

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3
Q

What are the extended 7Ps of services marketing?

A

Product, Price, Place, Promotion, People, Process, Physical Evidence.

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4
Q

What is the difference between transactional and relationship marketing?

A

Transactional focuses on single sales and short-term gains, while relationship marketing focuses on customer loyalty and long-term engagement

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5
Q

What is the marketing myopia concept?

A

The mistake of focusing on the product instead of customer needs.

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6
Q

What does “customer value” mean?

A

Customer value = Perceived benefits – Perceived sacrifices.

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7
Q

Give an example of customer segmentation.

A

Tesco segments customers into Price Sensitive, Traditional, Mainstream, Healthy, Convenience, and Finer Foods

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8
Q

What does customer-centric marketing prioritize?

A

Understanding customer needs, aligning strategies, and delivering value.

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9
Q

What is the 5C framework in marketing?

A

Customer, Company, Competitors, Collaborators, Context.

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10
Q

Why is marketing essential for firms?

A

It helps identify and meet customer needs better than competitors, driving long-term growth.

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11
Q

What is the customer value equation?

A

Value = Benefits (Get) – Sacrifices (Give).

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12
Q

What is “value-in-use”

A

The practical, emotional, or social value a customer experiences when using a product.

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13
Q

What is the “Jobs to Be Done” theory?

A

Customers “hire” products to perform specific jobs or solve problems in their lives.

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14
Q

Give an example of a JTBD insight.

A

Milkshakes were hired for morning commutes—not hunger, but engagement.

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15
Q

What is the “Elements of Value” pyramid?

A

A hierarchy of 30 values grouped into functional, emotional, life-changing, and social impact.

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16
Q

What is the main purpose of segmentation?

A

To group customers with similar needs and behaviors to better serve them.

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17
Q

What makes a good segmentation?

A

It should be large enough, distinct, reachable, and based on meaningful differences.

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18
Q

What is a “hygiene factor” vs. “motivator”?

A

Hygiene = basic expectations; Motivator = differentiators that drive choice.

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19
Q

How do perceptual maps help in marketing?

A

They visually show how customers perceive brands or products along key attributes.

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20
Q

Why can demographic segmentation be misleading?

A

People with the same demographics may behave very differently.

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21
Q

5 consumer decision stages?

A

Problem, Search, Evaluate, Buy, Post-Purchase.

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22
Q

ELM model?

A

Central route = deep thinking; Peripheral = superficial cues.

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23
Q

ATR model?

A

→ Awareness → Trial → Repeat.

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24
Q

What’s the CDJ model?

A

Circular journey including advocacy and bonding.

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25
Loyalty loop?
Skipping evaluation after satisfaction.
26
What are touchpoints?
Customer-brand interaction moments.
27
Peak-end rule?
People judge based on peak and final moments.
28
Need for control?
Customers want flexibility and predictability.
29
Hedonic editing?
Combine losses, spread gains.
30
Why is post-purchase key?
Drives loyalty and word-of-mouth.
31
What is a brand in memory theory?
A node with associative links in memory.
32
POP vs. POD?
POP = expected attributes; POD = unique differentiators.
33
Keller's Brand Equity Pyramid?
→ Salience → Meaning → Response → Resonance.
34
Affective positioning?
Emotional appeal, not functional.
35
Brand elements
Logo, name, slogan, design.
36
Placebo branding?
Brand affects real experiences (e.g., taste).
37
Embodied cognition?
Physical experiences shape perception.
38
Brand personality?
Human traits assigned to a brand.
39
Strong consumer-brand relationship?
Emotional connection and identity.
40
Overseer Whiskey issue?
Brand name had racist associations.
41
Q What is a brand extension
A Using an existing brand name to launch a new product
42
Q What is the difference between line and category extension
A Line extension is in the same category; category extension is in a new one
43
Why is fit important in brand extensions
High fit leads to better consumer acceptance and brand equity
44
What is vertical line extension
Extending a brand up (premium) or down (budget) the price/quality scale
45
What is brand dilution
Weakening of brand equity due to overextension or poor fit
46
How does culture affect brand extension
Analytic (Western) vs. holistic (Eastern) thinking affects perceived fit
47
What is the concept of brand relevance
Creating a new sub-category so appealing that alternatives seem irrelevant
48
What is the role of pioneer brands
They must gain prominence as the first mover and educate the market
49
What is a must-have in branding
A feature or benefit that defines a sub-category and drives brand relevance
50
What is sensorial marketing
marketing that engages the five senses to influence perception and behavior
51
How can companies create barriers to competition 4
Through innovation, rich experiences, scaling, and brand authenticity
52
What is embodied cognition in marketing
Physical sensations subconsciously affect how people feel about a brand
53
Give an example of sensory influence
Red mugs make coffee taste sweeter due to color association
54
What is cross-modal perception
One sense influences how we perceive another (e.g. sound affects taste)
55
Why is touch important in product marketing
Physical contact increases confidence and perceived ownership
56
How does scent affect marketing
It triggers emotional memory and increases product recall
57
What is sound symbolism
The shape or sound of a word affects how a product is perceived
58
What is sensorial package design
Packaging that uses layers (visual, tactile, auditory) to enhance value
59
What is the Bouba-Kiki effect
Rounded sounds and shapes feel soft; sharp ones feel edgy or intense
60
How do brands use sensory branding
By creating consistent, multi-sensory experiences across touchpoints
61
What is a brand community
A group of passionate consumers connected by shared brand values and identity
62
What are the 3 core traits of brand communities
Consciousness of kind, shared rituals/traditions, moral responsibility
63
What are community value-creating practices
Social networking, impression management, engagement, and brand use
64
What was the Ford Fiesta Movement
A social media campaign using influencers to build pre-launch buzz
65
Why was the Ford Fiesta Movement campaign successful
Authenticity, user-generated content, social engagement, and early buzz
66
What are the right metrics for social campaigns
Views, engagement, leads, awareness, loyalty, and test drives
67
What is the risk of launching early
Losing buzz before product release unless momentum is maintained
68
Why use consumer content instead of brand-created
Consumer content is more trusted, relatable, and engaging
69
What is co-creation in marketing
Consumers participate in creating or influencing brand content or products
70
How can buzz be sustained after a campaign
Exclusive offers, continued influencer engagement, sneak peeks
71
What is a crowdculture
An online community with strong creative energy and cultural influence
72
Why do most branded content campaigns fail
They can't compete with creators in authenticity, creativity, and engagement
73
What is cultural branding
Brands gain traction by aligning with countercultural movements
74
Give an example of cultural branding
Dove’s ‘Real Beauty’ campaign challenged beauty norms with diverse representation
75
What are Quesenberry’s social media strategy tips
Set goals, match platforms to audiences, solve problems, and entertain
76
How did Adobe engage creatives with social media
By launching a game called ‘Real or Fake?’ to promote Photoshop
77
What was Kit Kat Chunky’s social campaign
‘Choose Your Champion’ – co-creating flavor selection with fans
78
What are common social media consumer behaviors, 4
Deal-seeking, info-gathering, sharing, and brand interaction
79
What is brand patronizing behavior
When consumers publicly complain or try to control the brand
80
Name one segment from the social media user typology
Hard-Core Fans – loyal, emotionally engaged, and very active
81
What is the stage-gate process
A structured new product development model with approval gates at each stage
82
Why do most product launches fail, 4
Lack of go-to-market strategy, overpromising, poor timing, or no real market
83
What is diffusion of innovation
The process by which a new idea spreads through a population over time
84
What are the five adopter types
Innovators, Early Adopters, Early Majority, Late Majority, Laggards
85
What are the five adoption drivers
Relative advantage, compatibility, simplicity, trialability, observability
86
What is the chasm in innovation adoption
The gap between early adopters and the early majority where many products fail
87
What is the bowling alley strategy
Targeting one niche after another to build momentum before going mass market
88
What is an example of crossing the chasm
Brompton Bikes expanding from cycling enthusiasts to urban professionals
89
What is brand relevance
Creating or owning a new sub-category that defines market choice
90
What are two strategies for building brand relevance
Identifying must-haves and creating competitive barriers through innovation and scale

Intro to marketing (1 decks)

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