mktg ch1-3

Question 1

what is marketed

Answer 1

goods, services, events, experiences, people

Question 2

marketer

Answer 2

someone who seeks a response (attention, money, vote) from another party

Question 3

types of markets

Answer 3

resource markets, manufacturer markets, consumer markets, intermediary markets, government markets

Question 4

major market forces

Answer 4

technology, globalization, environment, social responsibilities

Question 5

holistic marketing

Answer 5

everything matters, internal marketing, performance marketing, integrated marketing, relationship marketing

Question 6

corporate culture

Answer 6

shared experiences, stories, belief and norms that characterize an org

Question 7

Strategy

Answer 7

choosing a well defined market in which the company will compete and determining the value it intends to create in this market

Question 8

tactics

Answer 8

marketing mix, make strategy come alive

Question 9

5-C framework

Answer 9

to make a clear strategic plan, understanding of customers –> company, collaborators, competitors, context

Question 10

3-V market value principle

Answer 10

OVP has company value, customer value and collaborator value

Question 11

7-T’s, seven tactics defining market offering

Answer 11

product, service, brand, price, incentives, communication, distribution

Question 12

G-STIC approach

Answer 12

set Goal, develop Strategy, design tactics, define implementation, identify control metrics

Question 13

goal focus

Answer 13

monetary goals and strategic goals

Question 14

performance benchmarks

Answer 14

quantitative or temporal benchmarks

Question 15

Designing tactics

Answer 15

resource development, development of the offering, commercial deployment

Question 16

Identifying controls

Answer 16

evaluate performance (benchmarks), monitor environment

Question 17

consumer characteristics vs psychology

Answer 17

nature vs nurture

Question 18

culture

Answer 18

environment, has smaller subcultures

Question 19

Reference groups

Answer 19

all groups that have direct/indirect effect on a persons beliefs, decisions and behavior

Question 20

Aspirational groups

Answer 20

groups they want to be like

Question 21

Dissociative groups

Answer 21

Groups they don’t want to be like

Question 22

Opinion leader/influencer

Answer 22

offers informal advice or information about a specific product or product category

Question 23

family of orientation

Answer 23

what you were born into

Question 24

family of procreation

Answer 24

what you choose

Question 25

influences on consumer behavior

Answer 25

personal factors, age, life stage, occupation and financial, personality/self concept, lifestyle & values

Question 26

consumer psychology

Answer 26

consumer motivation, perception, learning, memory

Question 27

brand statements

Answer 27

often tied to maslow’s hierarchy of needs

Question 28

maslows hierarchy of needs

Answer 28

physiological, safety, belonging & love, esteem, self actualization

Question 29

Perception

Answer 29

process by which we select, organize and interpret information to create a meaningful picture of world

Question 30

selective distortion

Answer 30

tendency to interpret information in a way that fits our preconceptions

Question 31

selective attention

Answer 31

things you focus on are more prone to be seen again

Question 32

emotional appeal

Answer 32

most adverts try to evoke emotions