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Marketing > Introduction to MKG > Flashcards

Introduction to MKG Flashcards

1
Q

What is Marketing ?

A

it’s the activity, set of intuitions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.

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2
Q

What is the aim of marketing ?

A

to make selling superfluous. To know and understand the customer so well that the product or service fits him and sells itself.
Understanding human behavior

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3
Q

What is Macromarketing ?

A

an approach to marketing that focuses on the larger societal and environmental impacts of marketing practices, systems, and strategies.

concern all products/services in the collectivity and distribution systems

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4
Q

What is Micromarketing ?

A

concern marketing efforts of entreprises to customers

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5
Q

What is marketing in practice ?

A

A way of thinking and to act.
Management philosophy
Company department (function)
Management approach
Group of analyses

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6
Q

What is Management philosophy ?

A

It’s a statement or approach that affects how manager leads their team and makes decision

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7
Q

Company department (function)

A

Expertise and science (process and methodology)

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8
Q

What is management approach ?

A

Marketing plan : competitive analysis, mission, objectives, strategies, tactics

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9
Q

What is Group of analysis

A

Market survey, behavior studies, focus group, etc

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10
Q

Does Marketing permeates all aspects of the society ?

A

Yes. It concerns goods, services, events, experiences, persons, places, properties, organisations, information, ideas.

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11
Q

What is B2C ?

A

Business to customer
Transactions that takes place between a business and an individual as the end customer

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12
Q

What is B2B ?

A

Business to Business
Refers to a type of transaction between two businesses

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13
Q

What is B2I ?

A

Business to Investors

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14
Q

Product (tangible) ?

A

Physical goods, tangibles (can be touch, seen, has a physical appearance), sustainable and unsustainable

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15
Q

What are the 5 categories of product (tangible) ?

A
  • Pure product : wood, aluminum, gas
  • Product and service : cell phone and
    warranty
  • Hybride Product / service : restaurant,
    Air Canada
  • Product/ service and secondary service :
    cell phone with Internet and e-mail`
  • Pure service : financial advisor, doctor
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16
Q

What does Intangible products help to do ?

A

Help create value to the use of the product

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17
Q

Do you have example of intangible products ?

A

Services, events, experiences, information, ideas

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18
Q

What are the 4 characteristics that can help to differentiate services and product ?

A

Intangibility
Simultaneousness
Variability
Perishability

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19
Q

What does Intangibility refers to ?

A

actions, advice, consultation
ex : doctor

20
Q

What does Simultaneousness refers to ?

A

ordering and delivering
the production and consumption of a service often occur at the same time and the same place
ex : lawyer

21
Q

What does Variability refers to ?

A

Means that sometimes when you get the same service from the same person or from different people, it might not always ne the same or good as before

Services can be different each time you get them whereas things that are tangible will usually be the same every time you see them

ex : in the delivery. McDonalds

22
Q

What does Perishability mean ?

A

It means that the service cannot be save for later and that if you do not use them than it is lost. (intangible)

Unlike tangible things that you can keep and store to use it later

23
Q

What are the different elements that could influence the demande for servies ?

A

schedule, participation, training, price, complementary services, etc

24
Q

What are the marketing concept evolution ?

A

Marketing 1.0
Marketing 2.0
Marketing 3.0
Marketing 4.0

25
Q

What is Marketing 1.0 ?

A

refers to the industrial revolution
Sell all the prodcution
Mass distribution

26
Q

What is Marketing 2.0 ?

A

1960
refers to the consideration if needs and desires of the customer. To do better that our competition

27
Q

What is Marketing 3.0 ?

A

2000
- social medias
- market globalisation
- growth in a ore active and prosperous
society
- Satisfaction of needs and wealth on LT
perspective for a better society
- Responsible consumption

28
Q

What is Marketing 4.0 ?

A
  • E-commerce
  • Digital economy
  • Digital commerce
29
Q

What has marketing evolution through the e-commerce and digital economy has created ?

A

it has created a dilemma : High tech / High touch dilemma

30
Q

What is the High tech / High touch dilemma ?

A
  • Instantaneous access and rare human contacts
  • It is the challenge of finding the right balance between advance technology (high tech) and human touch (high touch)
  • combining the benefits of technology with the warmth and personal connection that people provide to create the best customer experience
31
Q

What is Marketing relationship ?

A
  • It is a marketing strategy that companies often use to create and keep a relationship with its customers rather than a one-time sales.
  • create loyal customer that have a strong connection with the brand
32
Q

What is Experimental Marketing ?

A
  • marketing strategy that focuses on creating immersive and memorable experiences for customers
  • can be achieved through live events, interactive demonstrations, pop-up shops, product sampling, or other creative and participatory experiences.
33
Q

What is customer service ?

A

refers to the support and assistance provided by a business or organization to its customers before, during, and after a purchase of a product or service.

34
Q

What is the collaborative economy ?

A

Often refers as the sharing economy
- a system in which individuals and organizations share resources, services, or assets with one another, typically facilitated through online platforms or apps.
- C2C : Consumer to Consumer

35
Q

Characteristics of sharing economy :

A
  • social medias, mobile technology, Web2.0
  • Value of product is based on his usage (solution), not on possession (desire)
  • Life cycle is longer, being good for environment (branding is crucial).
  • No formal regulation, rules, laws as it is in the traditional commerce
36
Q

What are the 4 redistribution systems for consumers in collaborative economy ?

A

Redistribution system : market place
- Product - Service : Airbnb, Communauto
- Service à la demande : Uber, Uber eats
- Cooperative location : Urbainculteurs, Wework
Other possibilities : education, production, financing : Wikipedia, Kickstarter

37
Q

What is the key task of any business ?

A

Defining the role (business philosophy and operational aspect) that marketing will play in the organization

38
Q

What are the 5 Marketing philosophies ?

A

1- Production concept
2- Product concept
3- Selling concept
4- Marketing concept
5- Market-value concept

39
Q

What is Production concept ?

A

achieve high production efficiency, low costs, mass distribution

40
Q

What is Product concept ?

A

highest quality, best performance, innovative features

41
Q

What is Selling concept ?

A

influence customer decision, promote

42
Q

What is marketing concept ?

A

develop the right product for your customers, end-and-repond philosophy

43
Q

What is Market value concept ?

A

everything matters in marketing
- fundamental concept in finance and economics. It represents the current price or value at which an asset, security, or investment can be bought or sold in an open and competitive marketplace.

44
Q

What are the 5 aspects of marketing to keep in mind to assure social responsibility in business ?

A
  • Products & services : offer quality
  • Customers : honest merchandising and advertising
  • Suppliers : sustainable develpment REP, GES
  • Collectivity : social & environmental engagement
  • Shareholders : optimisation more than maximisation
45
Q

Ethical marketing ?

A
  • Effective marketing must be matched by a strong sense ethics, values and social responsibilities
46
Q

Why marketing must consider ethical mkg ?

A

bc mkg’s effects extend to society as a whole, marketers must consider the ethical, environmental, legal, and social context of their activities

common sense VS legislation

47
Q
A

Marketing (7 decks)

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