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Marketing Management > Exam 1 Power Point Part B > Flashcards

Exam 1 Power Point Part B Flashcards

1
Q

Strategies for Downsizing

A
  • Eliminating products or SBUs that re not profitable or no longer fit firm’s strategy
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2
Q

Environment

A

Circumstances, objects, or conditions by which one is surrounded

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3
Q

Marketing Environment

A

People/Organizations and Forces outside marketing that affect marketing organization

  • Macro
  • Micro
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4
Q

Microenvironment

A
  • The company
  • Suppliers
  • Marketing Intermediaries
  • Customers
  • Competitors
  • Publics
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5
Q

Macroenvironment

A
  • Demographic Forces
  • Economic Forces
  • Natural Forces
  • Technological Forces
  • Political Forces
  • Cultural Forces
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6
Q

Macroenvironment: Natural Forces Key Trends

A
  1. Higher Costs of energy (renewable energy)
  2. Shortages of raw materials
  3. More government intervention
  4. Consumption vs. Sustainability
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7
Q

Macroenvironment: Technological Forces

A
  1. Changing Environment; new products and technology enabled products
    - Internet
    - Medicine
    - Communication
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8
Q

Macroenvironment: Polical Trends

A
  1. Increased Legislation to protect businesses an consumers
  2. Changes in enforcement
  3. Increased emphasis on ethical behavior and social responsibility
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9
Q

Macroenvironment: Cultural Trends

A
  • Core Beliefs are Persistent
    1. Passed from parents to children
    2. Reinforced by schools, churches, businesses, and government
    3. Shape attitudes and behavior
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10
Q

More Macroenvironment Cultural Trends

A
  1. Achievement
  2. Fitness and Health
  3. Humanitarianism
  4. Material Comfort
  5. Individualism
  6. Conformity
  7. Progress
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11
Q

Qualitative Research Approach

A
  • Guided one on one discussion
  • Trained interviewer
  • Detailed understanding
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12
Q

Advantages of Qualitative Research Approach

A
  1. Flexible

2. Relatively Quick

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13
Q

Disadvantages of Qualitative Research Approach

A
  1. Costly

2. Interviewer Bias

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14
Q

Qualitative Research Approach Additional

A
  • Small, group discussions
  • Often held in special facility
  • Led by trained/skilled moderator
  • Group dynamics and interaction are critical
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15
Q

Uses of Qualitative Research Approach

A
  1. Test concepts, products, and communications

2. Reveal consumer perceptions and attitudes

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16
Q

Quantitative Research Approach

A
  • Observational Research
  • Mystery Shopper
  • Ethnographic Research
17
Q

Observational Research

A
  • Can obtain information people are unwilling or unable to provide
  • Cannot obtain feelings, attitudes or motives
18
Q

Ethnographic Research

A

Observational in natural habitat

19
Q

Experiment

A
  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
Q

Survey Research

A
  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
Q

Three Sampling Decisions

A
  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
Q

Questionnaire Decisions

A
  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
Q

Four Decisions for Survey Research

A
  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
Q

Consumer Decision Making Process

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

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