Last minute from slides

Question 1

4 marketing P’s original

Answer 1

Product
Price
Promotion
Place

Question 2

4 marketing P’s holistic (modern)

Answer 2

People (product)
Performance (price)
Programs (promotion)
Processes (place)

Question 3

Fundamental pillars of holistic (encompassing the entire organisation) marketing (marketing dimensions)

Answer 3

Relationship marketing
Integrated marketing
Internal marketing
Performance marketing

Question 4

Value proposition

Answer 4

A set of benefits that satisfy needs

Question 5

3 extra P’s of alternative marketing mix

Answer 5

Performance
People
Processes

Question 6

High tech marketing management tasks

Answer 6

Creating value
Delivering value
Communicating value
Creating successful long-term growth

Question 7

Competitive advantage

Answer 7

A company’s ability to perform in a way that others can not with core competencies as its source

Question 8

Positioning

Answer 8

The act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market.
Should focus on both rational and emotional components

Question 9

POD criteria

Answer 9

Differentiable
Desirable
Deliverable

Question 10

POP forms

Answer 10

Competitive
Category
Correlational

Question 11

Market follower strategies

Answer 11

Cloner
Imitator
Adapter
(possibly counterfeit)

Question 12

Market challenger strategies

Answer 12

Flank
Frontal
Encirclement
Bypass
Guerilla

Question 13

Market leader strategies

Answer 13

Expand market demand
Protect market share
Increase market share

Question 14

Porter five forces (threats)

Answer 14

Rivalry
New entrants
Substitutes
Consumer bargaining power
Suppliers bargaining power

Question 15

What is possibly the fifth P?

Answer 15

Packaging

Question 16

Stages adoption process

Answer 16

Awareness
Interest
Evaluation
Trial
Adoption

Question 17

Factors that influence the adoption process

Answer 17

Superiority over others
Compatibility to individual
Complexity
Divisibility
Communicability

Question 18

Word of mouth communication

Answer 18

Informal communications with other consumers about characteristics of particular goods, services or their sellers

Question 19

ABC accounting technique

Answer 19

It is an analysis that can conduct and determine customer profitability on a lifetime basis.

Question 20

Two main forms of social infleunce

Answer 20

Informative

Normative

Question 21

Conformity vs Compliance

Answer 21

Both a behaviour change.
Conformity due to something real/authority
Compliance due to a request made by someone else

Question 22

Foot in the door technique

Answer 22

To take advantage of people’s basic need for consistency

Question 23

4 Market segments

Answer 23

Demographic
Geographic
Psychographic (VALS framework)
Behavioural

Question 24

Psychographics

Answer 24

The science of using psychology and demographics in order to better understand consumers

Question 25

Decisions process roles

Answer 25

``` Initiators Influencers Decider Buyer User ```

Question 26

5 key psychological processes

Answer 26

``` Motivation Perception Learning Emotions Memory ```

Question 27

Distinctive Service characteristics

Answer 27

Intangible Inseperable Variable Perishable (cannot be stored)

Question 28

Triple Bottom Line

Answer 28

Measurement of business performance nowadays. Focusses on; Profits - Economic measures Planet - Environmental measures People - Social criteria

Question 29

Effects cause-related marketing

Answer 29

``` Build brand awareness Builds credibility Enhances brand image Enhances brand engagement Enhances brand feelings Creates brand community ```

Question 30

Marketing Plan

Answer 30

Summarises what is learnt about a market and how a firm plans to reach its objectives