Karteikarten
Chapter 1, 2, 3
Karten in diesem Stapel (41)
- 1Give a definition of Marketing Strategya functional strategy aimed at customer value creation, market orientation,
segmentation, targeting, and positioning - 2Give the definition of Strategic Marketing DecisionsLong term holistic decisions concerning the future directions for the organizations
- 3What are Tactical Marketing DecisionsShort term (annual or quarterly) decisions to execute the strategic directions within the firm
- 4What is Organizational knowledgeaccumulation of the knowledge bases of all the individuals within an organization and the social knowledge embedded in
the relationships between those individuals - 5Single-loop learning (adaptive learning)This type of learning solves problems, but ignores the question
of why the problem arose in the first place. (e.g. exam failure) - 6Double-loop learning (generative learning)occurs when the organization is willing to question long-held assumptions about its mission, customers, capabilities, or strategy. It uses feedback from past actions to question assumptions underlying current views. (e.g. innovation failure)
- 7Tacit knowledgeLow codifiability (= to what extent is it possible for the organization to structure
knowledge into a set of identifiable rules and relationships that can easily be
communicated). - 8The 4 steps of organizational learning (information) are:1. acquisition
2. dissemination (formal of informal)
3. shared interpretation
4. utilization (behavioral change) - 9What is the difference between organizational culture and climate?culture= deeply routed values and believes that drive organizational activities
climate= structures and processes that facilitate the achievement of the desired
behavior - 10Marketing Management Support Systems (MMSS) Software that helps in translating hard data into meaningful information
through summary statistics, equations, graphs, trends, etc. that may
facilitate decision making. - 114 different marketing problem-solving modes (Wierenga & Van Bruggen)-Optimizing (looking for optimal solution)
-Reasoning (using mental models)
-Analogizing (start from prior experience and solutions)
-Creating (think out of box)
--> MPSM - 12Which decision mode is activated is function of:- problem
- decision environment
- decision maker - 13Name 5 examples of irrational choices1. Confirmation bias
2. Escalation bias
3. Myopia and selective perception
4. Framing bias
5. Causal attribution - 14Confirmation Biasthe tendency to search for confirming information to lower dissonance
- 15Dissonance theoryInconsistency between belief and new information
- 16Escalation biastendency to continue investing in a strategy, despite negative feedback
- 17Escalation of commitment can be reinforced by two factors:-Psychological factor (internal justice, sunk cost , difference in endogeneous and exogeneous reasons)
-Social factor (justifying your choice) - 18Ways to solve Escalation- stopping rule a priori
-Sequential decision decoupling (effective but not very efficient) - 19Myopia and selective perception1. tendency to overlook distant times
2. tendency to overlook distant places
3. tendentcy to overlook failures - 20Framing bias (context effects)when people make different
decisions as a function of how information is presented to them, even
though the substance of the information is unchanged - 21Prospect theoryLosses loom larger than
gains --> diminishing sensitivity - 22Name three context effects- Compromise effect
- Similarity/substitution effect
- Attraction effect - 23Compromise effectPredicts that a product obtains a
relatively larger utility and choice
probability when it become an
intermediate or ‘compromise’ in the
assortment - 24Similarity or substitution effectAdding a new product ‘S’ decreases the utility of the products similar to it;
choice probabilities will decrease disproportionally more for products similar
to the new product - 25Attraction effectAdding a new product enhances the utility and choice probabilities of the
relatively superior option it is most similar to - 26Decoystimulus anywhere
in the shaded region where
it is dominated by the target
but NOT the competitor - 27Causal attributionTendency to attribute good performance to internal factors
Tendency to attribute bad performance to situational and external factors. - 28Ways to diminish Myopic Behavior-More weight on long-term (instead of short term stock)
-increase amount of information
-better understanding of marketing metrics
- better models for management - 29innovation in strategic marketing consist of three levels-innovation strategies
-innovation development
-innovation commercialization - 30Pro's of being a first movers (innovator)-technological leadership
-pre-emption of scarce assets
-buyers switching cost
-higher marketi share - 31Pro's of being late movers (immitator)-free ridering effect
resolution of technology and market uncertainty
-incumbent inertia
-gateways from technological discontinuities - 32Types of Product Innovations
- 33Theory of S-curves or ‘waves of innovation’
- 34Ansoff matrixpicture
- 35Crowdsoarcinglisten to the consumers, e.g. funding, contest and voting
- 36Consumer innovativenessthe
predisposition to buy new and different products and brands
rather than remain with previous choices and consumption
patterns - 37Determinants of innovativeness◦Personal consumer values
◦ Context-specific dispositions
◦ Cultural values - 38Which Hofsteden characteristics have an effects on adaption of innovativeness◦ Individualism (+)
◦ Uncertainty avoidance (-)
◦ Masculinity (+) - 39Probability of trial is a function of◦ Innovativeness (+)
◦ Importance of social-normative pressure (-)
◦ Recent marketing communication (+)
◦ Novelty (U)
◦ Brand strength (+)
◦ Characteristics of the category (e.g., competitive reactions, crowding) - 40Product launchgraph
- 41The role of retailers-Growing retailer concentration
- Retailers create value for consumers & play a more active role by setting
product standards, promoting products, obtaining and sharing
information on consumer tastes and behavior
- Retailers face an abundance of innovations to select from
- Retailers offer their own private label or store brand variant of successful
manufacturer brands
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- Beschreibung
- Strategic Karteikarten am Chapter 1, 2, 3, erstellt von c.l.kerkers am 22/06/2015.
- Erstellt von
- c.l.kerkers · Jun 2015
- Aktualisiert
- 19 Feb 2016
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