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SGMA 217 > Chapter 12- Understanding the Customer > Flashcards

Chapter 12- Understanding the Customer Flashcards

1
Q

what is marketing

A

entire process of creating relatons w customers by creats g/s and positive experiences.

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2
Q

Production orientation

A

ONLY goal of a company is productive efficiency! marketing during industrial revolution was only about taking orders and distribution

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3
Q

when was production orientation prevalent

A

during industrial revolution! so much demand that al firms did was produce goods and sell them

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4
Q

sales orientation

A

focsued on advertising the goods and delivering them (Radio and tv)

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5
Q

customer orientation

A

the best approach to adopt! when firms work to serve customer needs

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6
Q

what sorts of evolution did marketing orientation go through?

A

Production Orientation
-mass production

Sales Orientation
-more ads

Customer Orientation
-find customer needs and serve them

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7
Q

marketing concept THEORY

A

BUSINESS SHOULD PROVIDE G/S to meet customer needs through co-ordinated set of activities

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8
Q

customer relationshp management

A

tech that tracks and organizing info about customers to create marketing stratedies (data analaytics)

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9
Q

BRANDING

A

what value the company name/ logos hold to cusotmers

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10
Q
A

1

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11
Q

4 steps of satisfying a customer

A

right product: customers have choice
right place: convenienve
right time: acquire the product
right price: pay a fair price

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12
Q

utility

A

ability of a g/s to satisfy a human need

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13
Q

4 kind of utility

A

form utility
place utility
time utility
possesion utility

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14
Q

form utility

A

convering producton inputs into a finished products

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15
Q

place utility

A

making a product availiable to cusotmers at a location where customers with to purchase it

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16
Q

time utiltiy

A

makigna product avaiable when customers WHN they wanna buy it

17
Q

POSSISON utlity

A

transerffing title/ownership to a buyer (sales slip or recipet)

18
Q

what types of utility does marketing create

A

place time and possession

19
Q

the marketing mix (4Ps of marketing)

A

product: product design, featuers, brand
placement (distribution): transporation, storage
promotion: target market branding
price:max profit or max market share

20
Q

how do 4Ps of marketing mix deliver value

A

product: right product
price: right price
place (distribtuion): right place and time
promotion: ALL 4

21
Q

MARKETING STRATEGY

A

PLAN THAT WILL MAKE ORG USE RESOURCES TO MEET GOALS

22
Q

MARKETING STRATEGY 2 STEPS

A

analyze target market

maintain an approporiate marketing mix/combining marketing activityies

23
Q

consumer buying decision process

A

1) recognize problem/opp
2) search for info
3) evaluate alt
4) purchase
5) evaluate after purchase

24
Q

what are possible influecnes on the decision process

A

1) situational (time social physical etc)
2) psychological influecnes (Perceptions, motives, learning, PERSONAL CHOICES)
3) social influecnes (family, firends)

25
Q

HOW MUCH DO BRANDS INFLUECES THE CONUSMER BUYING PROCESS

A

IS YOU KNOW THE BRAND/ HAVE GOOD PERSONAL EXPERIENCE, you jus recognize the problem and straight purcahse (no consider alternatives)

26
Q

when do customers follow the customer decision making process MOREq

A

the larger , more expensive, brand

27
Q

Market Segmentation

A

splitting up target markets through market segmentation

cluster of groups who share common charactersitics WITHIN THE TARGET MARKET

28
Q

goal of market segmentation

A

-better meet needs of target group
-charge reasonable prices
-have approporatiate distribution
-good promotion strategies suited for it

4 PS

29
Q

market segmentation model vs no market segmentation

A

multiple marketing mixes as opposed to one marketing mix

30
Q

types of market segmentation

A

demographic
benefit
geographic (location)
psychographic (lifsetyle,personality)
behavioural (brand loyalty, price sensitivty)

31
Q

who does market segmentation stuff

A

MARKET RESEARCHERS (like NIELSON)

32
Q

what are forces in the amrketing environment PESTL

A

Political forces (laws)
Economic (willingness to buy)/ Comeptitors
Socio0cultural( lifestyle)
Tech (obsolete or new tech)
Legal and requlator (laws that prtoect ocnusmers)

33
Q

MARKETING reserach

A

gathering data concering a particular marketing program

34
Q

uses of marketing research

A

1) asses business environemtn to identify opportunities
2) understand postion related to comeptitors
3) success evaluation of new products
4) learn preferences and usage patterns of existing customers

35
Q

market research steps

A

1) identify research goal
2)gatherinfo (most expensive and most resources) (fromo primaty or secondary researrch sources)
3) interpret info (conclsuions)
4) make marketing decisions

36
Q

primary research

A

survery focus group customer intervieq

37
Q

secondary research

A

analyze already gathered results

SGMA 217 (13 decks)

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