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| a process by which companies create value for customers and build strong customer relationships to capture value from customers in return |
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| set of all actual and potential buyers of a product or service |
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| Dividing the market up according to segments of customers |
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| refers to which segments you will go after |
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| design, material, attributes |
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| high, low, volume, bundle |
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| web, retail, professional sales |
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| advertising, sales promotion |
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| set of controllable tactical marketing tools - product, price, place, promotion |
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| benefits or values a company promises to deliver to customer to satisfy needs |
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| statement of the organizations purpose -- what it wants to accomplish (acts as invisible hand to guide the organization) |
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| the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing market opportunities (used to adapt to market conditions) |
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Customer solution
Customer cost
Convenience
Communication |
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| arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers |
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| actually differentiating the market offering to create superior customer value |
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| compares market growth and market share |
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Product/market expansion grid
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Company wide strategic planning matrix |
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compares new and existing markets to new and existing products
*Market Penetration *Market Development *Product Development *Diversification |
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| systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment |
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| systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization |
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| electronic collections of consumer and market info obtained from data sources within the company network |
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1)observational
2)Ethnographic
3)Market
4)Experimental
5)Survey |
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| gathering primary data by observing people |
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| gather primary data by sending trained observers to watch and interact with people in their natural environment |
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| gathering primary data by asking people questions |
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| gather data to try and explain cause-and-effect through experiments |
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most widely used method, can be tailored to certain situations, and is best for descriptive information -- knowledge, attitudes, preferences, and buying behavior
*flexible *people can be unable or unwilling to answer *gives misleading or pleasing answers *privacy concerns |
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| info collected for the specific purpose at hand |
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| info that already exists, having been collected for a different purpose |
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| Market research contact methods |
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| Mail, Telephone, Personal, Online, Focus Groups |
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| tendency for people to screen out most of the information to which they are exposed |
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| tendency to remember the good points about a brand they favor and forget about good points of competing brands |
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| routine purchase decision such as a reorder without modification |
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| purchase decision that requires some research where the buyer wants to modify product specifications, price, terms, or supplier |
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| decision that requires thorough research |
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| Participants in the business buying process |
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| *users *influencers *buyers *gatekeepers *deciders |
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| members of the buying organization who will actually use the product or service |
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| people in an organization's buying center who often help define specifications and also provide info for evaluating alternatives |
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| people in an organizations buying center who make an actual purchase |
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| people in an organizations buying center who have formal or informal power to select or approve the final suppliers |
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| people in an organizations buying center who control the flow of information to others |
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1)Geographic
2)Demographic
3)Psychographic
4)Behavioral |
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| country, city, density, climate |
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| Age, gender, family size, income, occupation, education, religion, race, generation, nationality |
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| social class, lifestyle, personality |
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| occasions, benefits, user status, user rates, loyalty status, readiness stage, attitude toward product |
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