marketing Flashcards

1
Q

Marketing research

A
  1. Define the problem
  2. Develop the plan
  3. Collect relevant information
  4. Develop findings
  5. Take marketing actions
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2
Q

Strategic marketing process

A
  1. Swot analysis
  2. Market product focus
  3. Goal setting
    Marketing plan
    Implementation phase
    Results
    Evaluation phase
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3
Q

Steps in segmenting/targeting

A
  1. Group potential buyers
  2. Group products into categories
  3. Develop market - product grid
  4. Select target market
  5. Actions to reach target market
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4
Q

Strategies of innovation

A
  1. New product development strategy
  2. Idea generation
  3. Screening and evaluation
  4. Business analysis
  5. Development/initial testing
  6. Market testing
  7. Commercialisation
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5
Q

Cognitive influences

A
  • personal factors
  • object factors
  • situational factors
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6
Q

Personal factors

A
  • Needs, importance, interest, values
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7
Q

Object factors

A

Differentiation of alternatives/communication

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8
Q

Situational factors

A

Purchase, use, occasion

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9
Q

Consumer decisions making process

A
  1. Problem recognition
  2. Information search
  3. Alternative research
  4. Purchase decision
  5. Post - purchase behaviour
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10
Q

Porters 5 forces

A

Threats of new entrants
Threats of substitutes
Bargaining power of suppliers
Bargaining power of buyers
Rivalry amongst existing competitors

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11
Q

Product life cycle (PLC)

A
  1. Introduction
  2. Growth
  3. Maturity
  4. Decline
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12
Q

4 I’s of service

A

Inventory
Intangibility
Inconsistency
Inseparability

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13
Q

4 different markets

A
  1. Industrial
  2. Reseller
  3. Government
  4. Non-profit
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14
Q

Price

A
  1. Identify pricing objectives
  2. Estimate demand and revenue
  3. Determine cost, profit
  4. Set pricing level, list, quoted price
  5. Adjustments
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15
Q

Overseas

A
  1. Domestics regulation
  2. Entry assessment
  3. Competitive environment
  4. Market response
  5. Internal trade off analysis
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16
Q

Pestle analysis

A

Political, economic, social, technological, environmental, legal

17
Q

Environmental forces

A
  • social
  • economic
  • technological
  • competitive
  • regulatory
18
Q

3 main functions of channels

A
  1. Transactional
  2. Logistical
  3. Facilitating
19
Q

Transactional

A

Buying, selling, risk

20
Q

Logistical

A

Assembly, storage, sorting, transportation

21
Q

Facilitating

A

Post purchase service, maintenance.

22
Q

Breadth

A

Different products in a store

23
Q

Depth

A

Variations of each product

24
Q

Environmental scanning

A

The process of continually acquiring info on events occurring outside the organisation to interpret potential trends

25
Q

Marketing environment

A

Environmental forces affect the organisation, its suppliers and customers

26
Q

Internal/external environment

A

employees, assets, company policies, location

27
Q

External 1

A

Micro factors - directly connected to organisation, partially controllable

28
Q

External 2

A

Macro-factors, impact on organisations, (economic, social, environmental, technological, political, legal)