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Marketing > MA > Flashcards

MA Flashcards

1
Q

Name the four marketing concepts

A

Production orientation:

  • product
  • economies of scale
  • profit
  • processes

´Market orientation:

  • Product
  • Science
  • processes
  • Research

Sales orientation:

  • product
  • target market
  • processes
  • profit

Product orientation:

  • product features
  • product quality
  • product process
  • profit
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2
Q

Describe the 4 Marketing Mix

A
  1. Product
  2. Price
  3. Promotion
  4. Placement
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3
Q

Describe the “Ansoff Matrix” and name the most important criteria

A

We use existing products and services into new markets

  • active in different customers segments
  • go abroad
  • unique product
  • economies of scale
  • markets is not different
  • buyer can pay
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4
Q

Name all modern forms of marketing

A
  • 6 key principles (STEPPS)
  • Social currency
  • Trigger
  • Emotion
  • Public
  • protectoral values
  • stories
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5
Q

Name the 3 marketing environment and its components

A

Internal environment

  • employees
  • equipment
  • finance

micro environment

  • supplies
  • intermediates
  • competitor
  • customers

macro environment

  • political & legal forces
  • social & cultural
  • technical forces
  • economic forces
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6
Q

SWOT Analysis

A
  • Strengths
  • weakness
  • opportunities
  • threats
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7
Q

Marketing Mix (7Ps)

A
  • Product
    • variation
    • differentiation
    • innovation
    • elimination
  • place
    • e-commerce
    • direct sale
    • indirect sale
  • price
    • ​cost recovery pricing
    • penetration pricing
    • price skimming
  • promotion
    • ​individual communication
    • mass communication
  • prices
  • people
  • physical environment
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8
Q

What is the Marketing Environment?

A

The marketing environment are individuals, organization and forces external to the marketing management function, which impact the develop ability for marketing successful exchanges.

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9
Q

Please name Triple Bottom line

A
  • Profit a company makes go back to the community, environment.
  • People: action that affect the people, being is taken into consideration and do not exploit their labour.
  • Planet: reduction & elimination of ecological footprints’ reduction of energy usage, responsible for any waste.
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10
Q

Market penetration

A

Existing product & services in existing market

  • sell more products
  • find new customers
  • price decrease, increase promotion
  • acquisition of competitors
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11
Q

Name all 7 Lifecycle stages

A
  1. Concept
  2. Materials
  3. Manufacturing
  4. transportation
  5. Retail/Use
  6. Dispose
  7. Recycling
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12
Q

Summary of Marketing

A
  • Marketing is a philosophy
  • Focus is now on customer
  • Difference between B2B & B2C
  • alternative methods of marketing
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13
Q

Name all 3 marketing concepts

A

Selling:

  • Focus on selling techniques & promo
  • firm has own capacity
  • customer wants ignoring

Marketing:

  • focus on needs & wants
  • R&D
  • promotion

Social Marketing:

  • Marketing with ethic
  • impact on society
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14
Q

Target groups

A
  • Geography
  • Demographic
  • Behavioural
  • Psychology
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15
Q

Marketing Concept

A

Production:

  • economies of scale
  • mass production
  • cheap price/easily accessible
  • offshoring
  • not important: quality & uniqueness

Product:

  • focus on quality
  • mouse trap fallacy
  • unique & innovative
  • niche (will sell itself)
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16
Q

New Product & services on existing markets

A
  • Invest in R&D
  • buy and rebrand
  • develop with a company
17
Q

New products & services on new markets

A

Most risky product & Markets development needed

related diversification

18
Q

B2B vs. B2C

A
  • More specialized & limited
  • planned & longer term purchases
  • more people involved in decision
  • personal relationship play greater role
  • less innovative
  • less emotional
  • different marketing approaches
  • fewer customers
  • location
19
Q

Definition:

A

“Digital Marketing is an umbrella term for all of your online marketing efforts. Business leverage digital channels such as Google search social media email and websites to connect to customers.”

20
Q

Definition of Marketing

A

Dennis Adcock: the right product in the right place a the right price.

Phillip Kother: Marketing is the human activity directed at satisfying human needs and wants through an exchange process.

American Market: Marketing is a general matter in all interpersonal exchange´process.

21
Q

Marketing Mix the KPIs

A

Product:

  • quality
  • design
  • warranty
  • technology
  • features

Price:

  • strategies
    • skimming, penetration, loss-leader
  • discount
  • seasonal
  • early payment
  • bulk buying
  • optimale Kombination an Marketing Instrumenten*
  • bestmögliche Vermarktung*
22
Q

Definition of Marketing

A
  1. Is a Management Process
  2. is customer orientated
  3. identifies and consider customers needs
  4. fulfills customer wishes in a profitable way
  5. offers the opportunity to exchange ideas, goods and services
23
Q

Guerilla Marketing

A

Promotional activity which involves carrying out unconventional activities on a very low budget.

Target audience is often unaware about being marketed.

Usually deprive & misleading.

24
Q

Word of mouth marketing

A

Passing of recommendations by verbal measures. It’s the most effective because of the credibility.

Communication is speaking honestly.

25
Q

Ambush Marketing

A

Promotion of products at sports events to avoid paying sponsorship fees. It’s giving out freebies and advantage over the official sponsor.

26
Q

Viral Marketing

A

STEPPS:

S: social

T: trigger

E: emotion

P: public

P:practical

S:stories

Marketing technique that uses the network effect of the internet by offering a target audience an incentive to

27
Q

SWOT Analysis

A
  • strengths
  • weakness
  • opportunities
  • threats
28
Q

PESTLE

A

P: Political

E: Economic

S: Social

T: Technological

E: Environment

29
Q

Competitive strategy

A
  • Produce at the value cost
  • cost reduce in the value chain
  • usually targets a blood market
  • vertical integrations

Company strengths include

  • highly skilled and creative product development team
  • strong sales team
  • corporate reputation for quality and innovation
30
Q

Name the advantages and disadvantages of digital marketing

A

Advantages:

  • direct contact to the customers
  • spread fast
  • user data
  • target group segmentation

disadvantages:

  • internet access
  • hard to find someone/group
  • no contact (personal)
31
Q

What is influencer marketing?

A
  • Target people with marketing
  • testimonial
32
Q

Which different elements are part of the marketing environment?

A
  • External environment
  • internal environment
  • competitive environment
33
Q

What are the different stages in the product lifecycle?

A
  1. product development
  2. market introduction
  3. growth
  4. marketing
  5. decline
34
Q

Boston Consulting Group Matrix

A
  • cash cow: strong competitive product with cash surplus
  • stars: product with a high market share in a fast growing industry
  • question mark: small share in a fast growing market
  • dogs: low market share, no scope for growth
35
Q

Life cycle management

A

Triple bottom line: an accounting framework

  • people
  • planet
    • social (people)
  • sustainability
    • environmental (planet)
  • profits
    • economic (profit)

Life cycle thinking (LLT): going beyond the traditional focus on production & manufacturing process to include environmental, social and economic impact.

36
Q

Außenhandel Risiken

A
  • wirtschaftliche Risiken
  • politische Risiken
  • rechtliche Risiken
  • sonstige Risiken
37
Q

Market segmentation questions

A
  • (analyze customs) what do they buy from you?
  • Who are your competitors, customers?
  • (analyze your product) use of Marketing Mix - benefits and where to deliver?
  • Who is likely to buy your product? (target groups)
  • geographic, demographic, psychographic
  • What sort of person will buy your product?

Marketing (9 decks)

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