Term
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Definition
| product, place, price, promotion |
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Term
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Definition
| the goods and services the company offers to a target market |
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Term
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Definition
| the cost a consumer must bear to obtain the good |
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Term
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Definition
| company activities that make the product available to the target market |
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Term
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Definition
| activities that communicate the merits of a product and persuade target consumers to buy it |
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Term
| are wants and needs the same |
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Definition
NO!
needs are vital for survival
wants arise from culture, personality, etc
need food want big mac |
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Term
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Definition
| production, product, selling, marketing, societal marketing |
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Term
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Definition
available and affordable (used today in early life cycle stage, shortage of necessitates, high cost, volatile fads)
oldest concept |
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Term
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Definition
| features and quality (cancer fighting drug) |
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Term
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Definition
| advertising, hard sell (social marketing) |
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Term
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Definition
balanced approach-->look at consumers needs
focuses only on consumers and companies
GE 1st company to adopt
factor quality, price, promotion, etc |
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Term
| societal marketing concept |
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Definition
focuses on more than just the company and the consumer
looks at societies welfare at large |
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Term
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Definition
| temporal, behavioral, psychological |
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Term
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Definition
| equals perceived benefit - perceived cost |
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Term
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Definition
| equals SUM(customer lifetime value) |
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Term
| types of customer relationships |
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Definition
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Term
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Definition
face to face typically
ex: car dealerships, medical facilities |
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Term
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Definition
basic relationships through
a) brand name
b) basic customer service
c) website or online community |
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Term
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Definition
pets.com
focused solely on marketing and not on product offered |
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Term
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Definition
once had avg age of 62
low customer equity
high market share
turned it around |
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Term
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Definition
| market penetration, market development, product development, and diversification |
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Term
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Definition
| existing product, existing markets |
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Term
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Definition
| new products, exisitng markets |
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Term
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Definition
| new markets, exisitng products |
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Term
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Definition
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Term
| porters 4 effective business strategies |
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Definition
| cost relationship, differentiation, cost focus, differentiation focus |
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Term
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Definition
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Term
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Definition
| differentiation, broad market |
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Term
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Definition
| lower cost, narrow market |
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Term
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Definition
| differentiation, narrow market |
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Term
| what has a major component on environmental analysis |
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Definition
| cultural trends, CREST, demographic trends |
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Term
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Definition
| age, women, families, geographic shifts, diversity |
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Term
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Definition
| primary, secondary, exploratory, descriptive, causal |
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Term
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Definition
| schwartz's 10 universal, set of 3 motivations |
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Term
| schwartz's 10 universal motivations |
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Definition
1) power
2) achievement
3) hedonism
4) stimulation
5) self-direction
6) universalism
7) benevolence
8) tradition
9) conformity
10) security |
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Term
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Definition
1) utilitarian motivation
2) symbolic motivation
3) hedonic motivation |
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Term
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Definition
| social statues, prestige, control, dominance over people and resources |
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Term
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Definition
| personal success through demonstrating competence according to social norms |
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Term
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Definition
| pleasure and sensory gratification |
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Term
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Definition
| excitement, novelty and challenge |
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Term
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Definition
| independent thought and action |
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Term
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Definition
| understanding, appreciation, tolerance, and protection of nature and all people |
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Term
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Definition
| preservation and enhancement of people known to you |
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Term
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Definition
| respect, commitment, and acceptance of the traditional customs and ideas |
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Term
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Definition
| restraint of actions, inclinations, and impulses likely to violate social norms |
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Term
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Definition
| safety, harmony and stability for self and society |
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Term
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Definition
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Term
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Definition
| a competent housekeeper, "so clean you can see yourself.." |
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Term
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Definition
| joy, Palmolive aromatherapy-appeals to 5 senses |
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Term
| value proposition document |
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Definition
clear and simple statement of intended target market and the value to them (benefits and cost)
components
1) target customers
2) unique product/service qualities providing benefit
3) perceived cost |
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Term
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Definition
changing role of women
shift from me to we
change in value consciousness
change in environmental consciousness
change in beliefs |
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Term
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Definition
1) cocooning
2) 99 lives
3) clanning
4) egonomics
5) icon toppling
6) healthfulness
7) down-aging
8) small indulgences |
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Term
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Definition
as family income rises
1) % spent on food decreases
2) % spent on housing constant
3) % spent on utilities decreases
4) % on other spending increases
5) % on saving increases |
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Term
| types of exploratory research |
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Definition
1) interviews
2) analysis of secondary data
3) pilot study
4) focus group
5) depth interview
6) case studies
7) projective techniques |
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Term
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Definition
provides the who, what, where, when and how...but NOT why
1) typical methods include: surveys, panels, and observation |
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Term
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Definition
provides the answer for why
1) typically achieved through experiments |
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Term
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Definition
| types include: focus groups, depth interviews, projective techniques |
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Term
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Definition
word association tests
sentence and story completion
third person |
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