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Flashcards in Midterm Deck (41):
1

What are the 5 elements of the Pyramid of Maslow? (Needs and desires)

1. Physiological
2. Safety and protection
3. Belongingness
4. Esteem
5. Self-actualize

*during a state of lacking something
*want transformed in demand

2

What are the 5 different markets?

1. Consumer goods market (B2C)
2. Business market (B2B)
3. Distribution intermediaries market (walmart)
4. Government market (B2G)
5. International market

3

What is the marketing strategie? (5 elements of marketing mix)

1. Product
2. Price
3. Place (distribution)
4. Promotion (marketing communication)
5. Relationship selling

4

What is the competitive strategie?

*gain competitive edge vs. competitors
- Leader
- Challenger
- Follower
- Specialist

5

What are the two development strategies?

*increase sales, market share...
1. Ansoff Model
2. BCG Matrix

6

What is the Ansoff Model?

1. Market penetration (existing, existing)
2. Market development (new market, existing)
3. Product development (existing, new product)
4. Diversification (new, new)
- Related
- Unrelated

7

What is the BCG Model?

1. Stars (support)
2. Cows (maximize return)
3. Problem children (invest selectively)
4. Dogs (abandon)

8

What is the definition of SMART?

S = Specific
M = Measurable
A = Attainable
R = Relevant
T = Time based

9

What are the category of variables for segmentation? (Consumer markets)

1. Sociodemographic
2. Geographic
3. Psychographic (mindset, values, interests)
4. Lifestyle (three preceding)
5. Behavioural (needs, expectations, situations)
6. Volume and profitability
7. Market
8. Combination of variables

10

What are the category of variables for segmentation? (Business markets)

1. Economic
2. Geographic
3. Organizational culture, procurement policy
4. Behavioural
5. Volume and profitability
6. Market (types of companies)

11

What are the 5 elements to consider in targeting?

1. Size
2. Growth
3. Accessibility
4. Competitive situation
5. Adaptation cost

12

What are the 4 types of targeting?
***

1. Mass marketing (one marketing mix)
2. Segment marketing
- Concentrated (one marketing mix for one segment)
- Comprehensive (one marketing mix per segment)
- Broad (a few marketing mix for a few segments)
3. Niche marketing
4. Personalized

13

What are the 6 types of ethics?

1. Research
2. Product
3. Packaging
4. Pricing
5. Communication
6. Sales

14

What are the important things about positioning?

1. Consistent with target
2. Consistent over time
3. Clear
4. Communicated without confusion
5. Represent value for the customers

15

Look at Apple case.

Notes

16

What are the 5 elements of the organization?

1. Resources
2. Competencies
3. Performance
4. Objectives
5. Results

17

What are the element of the microenvironment (6)?

1. Suppliers
2. Distributors
3. End users
4. Actual competitors
5. Potential competitors
6. Substitute products

18

What are the element of the macroenvironment (5)?

Political-legal
Economic
Social
Technological
Environmental

19

What are the three types of data collection and analysis?

1. Internal data collection and analysis system - secondary
2. Marketing intelligence (government agencies, journals...) - secondary
3. Marketing research - primary

20

What are the 3 types of marketing research?

1. Exploratory (understanding, find new opportunities) - Focus group, interview and projective techniques
2. Descriptive (specific purpose) - Observation
3. Causal (cause and effect) - Experimentation

21

What are the 4 structure of methodology?

1. Qualitative research
2. Observation
3. Experimentation
4. Surveys

Depends on:
1. Type of marketing research and statistical inference
2. Research subject and reliability
3. Budget and time constraints

22

What are the 3 types of qualitative research?

1. Focus group
2. Individual interview (saturation principle)
3. Projective techniques (profound beliefs)

23

What are the 5 types of observation?

1. Natural
2. Machine
3. Participant
4. Indirect
5. Protocol method

24

What is experimentation.

Aims to test causality between variables with independent variables (factors) and dependant variables (to measure).

25

What is to consider when doing a survey?

1. Budget
2. Target response rate
3. Speed of response rate
4. Need to acertain respondents identity
5. Availability of a sampling frame
6. Level of complexity
7. Obligation to conduct some activities simultaneously

26

What are the different influencer in the decision process?

1. Internal influence (psychological, psychographic)
2. External influence (reference group, subculture, culture)
3. Contextual influence (environment, mood, time)
4. Influences of the marketing mix

27

What are the steps of the decision process?

1. Recognition of a need
2. Information search
3. Evaluation of alternatives
4. Purchasing decision
5. Post-purchase evaluation

28

What are the psychological processes?

1. Motivation
2. Perception
3. Knowledge
4. Emotions
5. Attitude

29

What are the psychographic variables?

1. Identity and self-concept
2. Values
3. Lifestyles

30

What are the 4 things that characterize the decision process?

1. Level of effort and involvement
2. Individual and product characteristics
3. Situation
4. Cognitive and emotional decisions

31

What is the potential of creativity?

1. Allows differentiation
2. Allows foreseeing and meeting customer needs
3. Ends up in finding appropriate solutions

32

You can innovate in...

1. Value chain
2. Business model (activities, relations)
3. Segmentation
4. Targeting
5. Differentiation
6. Positioning
7. Marketing mix

33

What are the 5 steps of design thinking?

1. Empathy
2. Definition
3. Idea generation
4. Prototype
5. Test

34

What are the 2 different types of innovation?

1. Continuous
2. Discontinuous

35

What are the 5 categories of buyers?

1. Innovators
2. Early adopters
3. Early majority
4. Late majority
5. Laggards

36

What are the 5 factors of the adoption of a product?

1. Relative advantage
2. Compatibility
3. Triability
4. Observability (see the benefits)
5. Complexity

37

What are the components of the value chain?

Support activities
1. Firm infrastructure (administration, finance, quality control)
2. Human resource management
3. Technology development
4. Procurement

Primary activities
1. Inbound logistics (reception, storage, procurement)
2. Operations (inputs into products)
3. Outbound logistics (distribution)
4. Marketing and sales (segmentation, target...)
5. Service (installation, repair, return)

38

What are the 4 important aspect of differentiation?

1. Visible
2. Significant
3. Real
4. Distinctive

39

What are the 4 steps of data collection?

1. Define target population
2. Define sampling unit
3. Chose sampling procedure (probability or non)
4. Determine sample size

40

What are the types of perceived risk?

1. Monetary
2. Physical
3. Social
4. Psychological
5. Functional

41

What are the 4 types of people in a purchasing decision?

1. Initiator
2. Informant
3. Buyer
4. User