Mid Term EXAM REVIEW 5070 Fall 2013
CHAPTER 1
Needs and wants-pg.5- Needs: stated, real, unstated, delight, secret
Value proposition-pg.6- set of benefits that a marketer proposes to deliver to satisfy customers' needs
Segments - onsists of a group of customers who share a similar set of needs and wants
Descriptive Characteristics: geographic, demographic, and psychographic
Behavioral Considerations: consumer responses to benefits, usage occasions and brands
target markets-pg.6- the part of the qualified available market the company decides to pursue
Customer satisfaction- a person's feelings of pleasure of disappointment that result from comparing a product's perceived performance to expectations. …Consumer value triad: quality, service, price
Company orientation: pg. 8-10-
Production-consumers prefer products that are widely available and inexpensive
Product-consumers favor products offering the most quality, performance, or innovative features. Downfall= “better-mousetrap” fallacy
Selling- if left alone, ppl wont buy enough of the organizations products, so the organization must undertake an aggressive selling effort. Ex: unsought goods-insurance, cemetery plots
Marketing- consumer oriented, sense and respond. Find the right products for your customers.
Holistic marketing: pg.10-12 based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Internal marketing-is the task of hiring, training, and motivating able employees who want to serve customers well
Integrated- occurs when the marketer devises marketing activities and assembles marketing program to create, communicate, and deliver value for consumers such that "the whole is greater than the sum of its parts." Using an integrated communication strategy means choosing communication options and messages that reinforce and complement each other
Performance financial accountability social responsibility marketing
Relationship: building
Needs and wants-pg.5- Needs: stated, real, unstated, delight, secret
Value proposition-pg.6- set of benefits that a marketer proposes to deliver to satisfy customers' needs
Segments - onsists of a group of customers who share a similar set of needs and wants
Descriptive Characteristics: geographic, demographic, and psychographic
Behavioral Considerations: consumer responses to benefits, usage occasions and brands
target markets-pg.6- the part of the qualified available market the company decides to pursue
Customer satisfaction- a person's feelings of pleasure of disappointment that result from comparing a product's perceived performance to expectations. …Consumer value triad: quality, service, price
Company orientation: pg. 8-10-
Production-consumers prefer products that are widely available and inexpensive
Product-consumers favor products offering the most quality, performance, or innovative features. Downfall= “better-mousetrap” fallacy
Selling- if left alone, ppl wont buy enough of the organizations products, so the organization must undertake an aggressive selling effort. Ex: unsought goods-insurance, cemetery plots
Marketing- consumer oriented, sense and respond. Find the right products for your customers.
Holistic marketing: pg.10-12 based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Internal marketing-is the task of hiring, training, and motivating able employees who want to serve customers well
Integrated- occurs when the marketer devises marketing activities and assembles marketing program to create, communicate, and deliver value for consumers such that "the whole is greater than the sum of its parts." Using an integrated communication strategy means choosing communication options and messages that reinforce and complement each other
Performance financial accountability social responsibility marketing
Relationship: building