Mktg 477 Exam #1 Major Topics Note: the list below is not intended to be exhaustive – i.e.‚ it does not cover every single topic that we have discussed in class to date. Instead‚ it is designed to give you a starting point from which to study. If you can’t find answers to the questions posed below‚ ask a classmate for his/her notes. Then‚ come and see me if you still have questions. Know promotional lingo and buzzwords‚ and be able to apply them. For example‚ do you know what “spot TV” is
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Introduction The New Belgium Brewing Company is one of the top three craft beer breweries in the nation. It has experienced solid growth from its original entry as a niche marketer to a brand that is now distributed across the country. Much of New Belgium’s success is a result of a well-developed positioning strategy that promotes the company’s culture as much as its product. Not coincidentally‚ New Belgium’s target market chooses brands like Fat Tire because of both the company’s culture and
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Different companies have different abilities that enable them to serve their target market better‚ which is why some companies choose to focus much of their attention to specific segments. Starbucks primarily chooses to focus on the demographics‚ psychographics and lifestyle of their customers. It is with the information gathered regarding these segments that Starbucks can better serve its customers. Demographics are things such as age‚ sex‚ marital status‚ education‚ occupation and income. Starbucks
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Project Guidelines The major learning objectives of this project: (1) Ensure that you understand the Fishbein model (A = (Bi.Ei); see attached note on this model. (2) Learn how to measure the two components of the model in a typical consumer survey: (3) Learn how to use the data for marketing purposes. That is‚ you should be able to use the concepts you have learned in this course to make recommendations regarding a good marketing strategy for your brand. TO DO: Select a particular brand
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Chapter 7 Customer-Driven Marketing Strategy: Creating Value for Target Customers 1) When a company identifies the parts of the market it can serve best and most profitably‚ it is practicing ________. A) concentrated marketing B) mass marketing C) market targeting D) segmenting E) differentiation Answer: C Diff: 2 Page Ref: 191 Skill: Concept Objective: 7-1 2) What are the four steps‚ in order‚ to designing a customer-driven marketing strategy? A) market segmentation‚ differentiation
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Int. Journal of Economics and Management 5(1): 283 – 298 (2011) ISSN 1823 - 836X Lifestyle – A Tool for Understanding Buyer Behavior JayaSrEE KrIShNaN St Joseph’s College of Engineering‚ India ABSTRACT This study emphasizes the importance of lifestyle and its influence on the consumer’s purchase behavior. The main purpose of this study is to empirically examine the association between the consumers’ general life styles and their consumption pattern. aIO measure was used to identify the
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by past experiences‚ innate characteristics‚ and current situation. One’s lifestyle influences all aspects of consumption behavior. Measurement of Lifestyle Attempts to develop quantitative measures of lifestyle were initially referred to as psychographics. Measures include Attitudes—evaluative statements about other people‚ places‚ ideas‚ products‚ and so forth. Values—widely held beliefs about what is acceptable or desirable. Activities and interests—nonoccupational behaviors to which consumers
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sports appeal reaching many demographics and psychographics as well. It is understood that psychographics identify personality characteristics and attitudes that affect a person ’s lifestyle and purchasing behavior. Psychographics are psychological profiles of potential customers in a market that focus on attitudes‚ interests‚ and personal opinions or perspectives‚ Nike’s success is no accident. Since the late 1980s‚ Nike has been using psychographic and sociographic analysis of data to help transform
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An evaluation of the effects of a global advertising campaign Advertising is a general method used by many companies and organizations all over the world. Those organizations or companies use advertising in order to increase selling of the company goods as well as services. More than one hundreds of ads are publicized throughout the mass media such as television‚ newspaper‚ radio‚ billboards as well as the internet. These channels are major tools that we use and see in everyday life. Nevertheless
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process of identifying and targeting groups of individuals who are similar to one another. Markets can be segmented in many different ways: by product or service needs‚ by sensitivity to price‚ by geographic area‚ by demographic segment‚ or by psychographics and lifestyles. Successful segmentation depends on understanding what consumers need‚ how groups of consumers differ from one another‚ and how consumers decide among products. Decision Analyst’s Advanced Analytics Group searches for and identifies
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