marketing Flashcards
Personality and self concept:
Real self- an objective evaluation of ones self. Who you really are
Self image- how you see yourself. May not be your real self.
Looking glass self- how you think others see you
Ideal self- how you’d like to be
Maslows hierarchy of needs:
Physiological needs- hunger, thirst, shelter…
Safety needs- security, protection, comfort…
Social needs- sense of belonging, family, Friends, love…
Esteem needs- recognition, achievement, status…
Self actualization- fulfillment, to realize potential
Which two selfs do marketers appeal to?
Looking glass self and ideal self
Two basic types of consumers:
Business to consumers- more emotional, less formal
Business to business- more rational, formal
3 types of perception:
Selective exposure- our eyes and minds notice only info that interest us.
Selective perception- we screen out messages that conflict with our attitudes
Selective retention- we remember only what we want to remember
Definition of perception:
The manner in which individuals receive and interpret messages
What is a reference group?
A group of people who share a common interests that influence the attitudes and behaviour of its members. Likely to wear the same style of fashion.
What is double targeting?
Marketing strategies that reach both genders
What are the three common variables for strategic planning?
Objectives- statements of what is to be accomplished
Strategies- statements the outline how objectives will be achieved
Execution- auction oriented details
State of economy is determined by growth rates in:
Gross domestic product Inflation rates Employment rates Canadian dollar valuation Consumer income distribution
Cycles of economy are:
Recession
Depression
Recovery
Prosperity
What are the two forms of competition?
Direct, and indirect
Key Canadian trends are:
Decrease in population growth Aging population Concentration in population Smaller households Increase in ethnic diversity Growth of gender equality
How are Canadian lifestyles changing?
More health conscious
Greater concern for social issues
Increase in environmentalism
Integrated marketing communications:
The coordination of all forms of marketing communications in a unified program that maximizes the impact on the indented target audience
P.E.P.S.I.A.D
Public relations Experimental marketing (event marketing) Personal selling Sales promotions Interactive communications Advertising Direct response
Public relations:
Communications primarily directed toward gaining public understanding and acceptance
Experimental (event) marketing:
The process, planned by a sponsoring organization, of integrating a variety of communications elements with a single event theme.
Personal selling:
Involves the delivery if a personalized message from a seller to a buyer
Sales promotion:
Involves special incentives to stimulate an immediate reaction from consumers and distributers
Interactive communications:
Using electronic devices to reach target markets
Advertising:
A persuasive form of marketing communications designed to stimulate a positive response from a defined market
Direct response communications:
Involves the delivery of a message to target audience of one
What are the encouraging factors of IMC?
Media consumption Trends
Customer relationship management
Expanding role if database management techniques
Digital communications technologies
Demand for efficiency and accountability
What are the business market requirements?
Quality- consistent quality on every order
Services- reputable suppliers with prompt service
Supply continuity- provision of goods over the longer term
Price- lowest price is not always accepted
The buying centre:
Users- those in the organization who use the product directly
Influencers- those who define the product specifications
Buyers- those with the authority to buy
Deciders- those with the power to finalize the purchase
Gate keepers- those who control the flow of information to the members of the buying centre
What’s eprocurement?
Online b2b marketplace through which participants can purchase products
Most Canadian markets are either
Oligopoly or monopolistically competitive
The corporate plan:
Is a strategic plan formulated at the executive level of an organization to guide the development of functional plans
They include:
A mission statement
Corporate objectives
Corporate strategies
Mission statement
A statement if an organizations purpose and operating philosophy that is oriented around Customer Marketing Competition Long term results
Corporate strategy factors include:
Marketing strengths Degree of competition Financial resources Research and development Capabilities Management commitment level
Market planning involves :
Analyzing, planning, implementing, and controlling marketing initiatives to satisfy target market needs and achieve organizational objectives
SWOT stands for:
Strengths/weaknesses -internal -controllable Opportunities/threats -external -uncontrollable
