Midterm Flashcards
What % of new business fail in 5 years?
What is the marketing function?
What’s not true about marketing?
50%
creating and communicating, delivering and exchanging
Persuade people to buy the wrong things.
What is the idea of exchange?
What is the marketing change between a student and a university?
What is the environmental forces?
Trade of things of value.
Tuition.
Economic, social, etc. Customers are NOT environmental.
What is the definition of a market?
What do you see in sales era of US history and marketing approach?
What happened during marketing concept era?
Has to do with people.
Sales people do unethical things
Satisfy customers and achieve business goals.
Is an iphone easy to use form utility?
What is strategy?
What is the corporate level of an organization?
Yes
Long term
top management
What is the functional level of an organization?
What are the 3 elements of a visionary organization?
What is a marketing metric?
manufacturing, financing, research
Establish a foundation, set a direction, create strategies
measure of quantitative value or trend of marketing activity
What is a competitive advantage?
What is business portfolio analysis?
How are dogs perceived in SBU’s?
unique strength relative to competition
generally to appeal to each of the offerings and determine the amount of cash they receive
Small business unit - how “dogs” are SBUs that are classified as having low market growth and low relative market share.
What is product development?
Where does reputation fall?
What to know about hurricanes?
New and current
Strengths.
Threats, opportunities.
What are points of difference?
What 2 factors characterize marketing strategy?
What are social forces?
Product superior to competitive substitutes.
Target market 2. Marketing program (reach them)
Demographic characteristics of a population
What is a demographic characteristic?
Which age segment is expected to be 30%?
Who are the baby bust?
Changing the age of a target market is changing one.
Baby boomers.
1965-1976
What are the 4 basic competition market types?
What % of women buy new cars?
What is the form of market where a few companies control the market?
monopolistic competition, pure competition, oligopoly, pure monopoly
60%
Oligopoply
What does D represent?
What is going to a friend when doing research?
Recruiting advertisement for US army that invited enlistees to be all you can be appeals to which hierarchy of needs level?
Purchase decision
External search
Self actualization
What is cognitive dissonance?
What is perception?
What is subway reinforcment?
he feeling of postpurchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives.
Ones own belief
DRIVE
Do surveys improve marketing decisions and reduce uncertainty?
What are reference groups?
During what stage of the 5 step market research approach does primary and secondary data occur?
YES TRUE
consists of people to whom an individual looks as a basis for self-appraisal or as a source of personal standards.
Step 3, collect relative information.
What happens during the develop the research plan step?
What is a disadvantage of a mall intercept interview?
What is ethnographic research?
specify constraints,
may not be representative of of target customers
Use anthropologists and other trained researchers.
What is general rule of thumb for data use?
Know the 3 frequently used sales forecasting techniques?
What is statistical inference?
Use primary and secondary data first.
- Judgments of the decision making 2. Surveys of knowledgeable groups 3. Statistical methods
Draw conclusions of +14 women from 250 women.
