marketing Flashcards
1
Q
Marketing research
A
- Define the problem
- Develop the plan
- Collect relevant information
- Develop findings
- Take marketing actions
2
Q
Strategic marketing process
A
- Swot analysis
- Market product focus
- Goal setting
Marketing plan
Implementation phase
Results
Evaluation phase
3
Q
Steps in segmenting/targeting
A
- Group potential buyers
- Group products into categories
- Develop market - product grid
- Select target market
- Actions to reach target market
4
Q
Strategies of innovation
A
- New product development strategy
- Idea generation
- Screening and evaluation
- Business analysis
- Development/initial testing
- Market testing
- Commercialisation
5
Q
Cognitive influences
A
- personal factors
- object factors
- situational factors
6
Q
Personal factors
A
- Needs, importance, interest, values
7
Q
Object factors
A
Differentiation of alternatives/communication
8
Q
Situational factors
A
Purchase, use, occasion
9
Q
Consumer decisions making process
A
- Problem recognition
- Information search
- Alternative research
- Purchase decision
- Post - purchase behaviour
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
11
Q
Product life cycle (PLC)
A
- Introduction
- Growth
- Maturity
- Decline
12
Q
4 I’s of service
A
Inventory
Intangibility
Inconsistency
Inseparability
13
Q
4 different markets
A
- Industrial
- Reseller
- Government
- Non-profit
14
Q
Price
A
- Identify pricing objectives
- Estimate demand and revenue
- Determine cost, profit
- Set pricing level, list, quoted price
- Adjustments
15
Q
Overseas
A
- Domestics regulation
- Entry assessment
- Competitive environment
- Market response
- Internal trade off analysis
