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Marketing - BARE > EXAM > Flashcards

EXAM Flashcards

1
Q

SWOT?

A

Strength, Weaknesses (Internal)

Opportunities, Threats (External)

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2
Q

What is marketing?

A

Managing profitable customer relationships - attracting new customers and creating satisfaction/value

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3
Q

What is a famous marketing definition by Philip Kotler?

A

Marketing is getting the right goods and services to the right
people at the right places at the right time at the right price with
the right communications and promotion. (4 P’s)

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4
Q

Differences between Marketing, Sales and PR?

A

Marketing: “Passive” selling, creating public awareness/interest

Sales: “active” selling, cash orientated

PR: public interest, issues based - often political - reputation management

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5
Q

Differences in marketing strategies throughout the years?

A

1930-1960: Focus on distribution/production in: Seller power was high

1960 – 1990: Focus on sales and customers: First signs of market saturation

1990 – 2000: Focus on USP’s, more customer based

After 2000: Focus on different segments (elderly, children, adults etc.)

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6
Q

Marketing 1930-1960?

A

Focus on distribution/production in: Seller power was high

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7
Q

Marketing 1960 – 1990?

A

Focus on sales and customers: First signs of market saturation

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8
Q

Marketing 1990 - 2000?

A

Focus on USP’s, more customer based

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9
Q

Marketing after 2000?

A

Focus on different segments (elderly, children, adults etc.)

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10
Q

4 P’s of marketing?

A

Price
Promotion
Product
Placement

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11
Q

Marketing Process?

A
  1. Market and environment analysis
  2. Fixing marketing target
  3. Setting marketing strategy
  4. Marketing mix
  5. Marketing controlling
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12
Q

Kotler’s Marketing 3.0?

A

Missions (why)
Visions (What)
Values (How)

All connected to the mind, heart and spirit.

VALUE Driven

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13
Q

Hierarchy of Needs?

A
  1. Physiological needs (food, water, rest)
  2. Safety needs (security)
  3. Belongingness and love needs (relationships)
  4. Esteem needs (accomplishments)
  5. Self-actualization (achieving full potential)
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14
Q

Differences between Needs, Wants and Demands

A

Needs: states of felt deprivation

Wants: Needs shaped by culture and individual personality

Demand: Human wants that are backed by buying power

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15
Q

Means-End-Value Chain?

A
  1. Concrete Attributes: what is made of, design.
  2. Abstract Attributes: Why the design is comfortable, the taste etc.
  3. Functional Benefit: It helps quench thirst, hunger etc.
  4. Psycho-Social Benefits: “Im cool because I drive a BMW”
  5. Instrumental Values
  6. Terminal Values
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16
Q

Models of Consumer Behaviour?

A
  1. Holistic Models
  2. Phase Models
  3. S-R & SOR Models
17
Q

Holistic Model of CB?

A

Psychological - Emotion, motivation, attitude.

Cognitive - Perception, decision-making

View of the world + self image = desired lifestyle

18
Q

Phase Model of CB?

A

Problem Recognition -> Information search ->Evaluation of alternatives -> Purchase decision -> Postpurchase behaviour

19
Q

S-R Model of CB?

A

Stimulus Response - 4P’s/social, political, social and tech stimulus
+ buyer characteristics (“black box”)

20
Q

SOR Model of CB?

A

Stimulus -> Organism -> Response

Signs -> Decoding signs -> Behaviour (reaction - buying)

21
Q

Why ethnic marketing?

A

Large amounts of immigration, different cultures

22
Q

What is culture?

A

Norms, values, beliefs

23
Q

Hofstede’s Cultural Iceberg?

A

10% is easy to see: customs, courtesies

90% is difficult to see: values, priorities, assumptions

24
Q

What is ethnic marketing?

A

Uses personal marketing strategies that best reflect the values and beliefs of ethnic audiences

25
Q

Steps in an ethnic marketing strategy?

A
  1. Consider ethnic diversity
  2. Determine level of ethnicity
  3. Develop and implement the campaign
26
Q

3 approaches within ethnic marketing?

A
  1. Ethnomarketing: Targeting ethnic minorities, tailored communications
  2. Diversity marketing: inclusive approach, pre-test w/ various groups
  3. Urban marketing: appeals to lifestyles, involve targets in the creation of campaigns
27
Q

Halal marketing?

A

Pork & Alcohol prohibited

Halal food is ritually slaughtered

Halal product arket is huge - 2.3 trillion (excluding Islamic banking)

28
Q

Key players in the Halal Industry?

A
  1. Nestle, KFC
29
Q

Islamic Banking?

A

No Interest

30
Q

Demographic marketing - age

A

Differentiate between ACTUAL AGE and COGNITIVE AGE.

Focus on COGNITIVE AGE

Marketing - BARE (1 decks)

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