Flashcards
POM
Cards in this deck (62)
- 13 Attributes to prioritize stakeholderspower
urgency
legitimacy - 2customer behavior decision making process1. need recognition
2. information search
3. evaluations of alternatives
4. purchase
5. post purchase behavior - 3what is the 4 pricing policies?1. uniform
2. perfect price discrimination
3. indirect price discrimination
4. direct price discrimination - 4social factors on customer behavior1. reference group - direct and indirect influence on cb
- membership, aspirational, dissociative
2. family
3. roles and status - 5types of customer behaviourhigh/low involvement & significant difference of brands
1. complex
2. dissonance
3. variety seeking
4. habitual - 6IMC effective process1. identify the target audience
2. determine the communication objectives - using buyer readiness stage
3. design the msg - using AIDA model
4. choose a media - personal vs impersonal
5. choose the media source - affect the credibility
6. evaluate the process - thro communication or sales - 7adoptions processawareness-> interest-> evaluation-> trial-> adoption
- 8types of PLC profile1. introduction
2. growth
3. maturity
4. decline - 9characteristic of INTRO stagenegative profit
low sales
- create awareness
- basic features of the products
-selective distributions
using skimming or penetration mtd - 10characteristic of growth stagesales is rising rapidly
- create awareness
- provide additional benefits
- intensive distributions
max mkt shares - 11characteristic of MATURITY stageintensive distribution
low cost
positive profit
max profit and defend mkt share
diversify the brands or products
focus on differential & advantages - 12characteristic of DECLINE stagedecrease in sales
low cost
milked the product & reduce R&D
selective distribution
retain loyal customer - 13Sales promotions monetary benefitprice oriented
reduce perceived quality
negative impact on brand equity - 14Sales promotions non-monetary benefitreinforce the brand equity
took away price focus
differentiate brands
does not affect perceived quality - 15what is sales promotions?ST incentives to encourage purchase
it stimulate demand including special event and activities
increase sales in short amt of time
build awareness and attract attention - 16sales promotions toolscoupons
cash rebates
games
price pack
contest
sample
patronage rewards - 173 types of postponementfull - delay the manufacturing
logistic (JIT) - FG, delay the delivery
manufacturing - semi finished goods - 18define advertisingpaid, impersonal communications and promotions of ideas, goods and service by an identified sponsor
it can be informative, persuasive and reminding
build demand, selective demand and brand loyalty - 19types of promotion budgets can be usedaffordable
% of the profit
competitive parity - follow competitors
objective and tasked - one time based, identify the cost and task - 20identify 3 different types of marketing systemhorizontal
vertical
multi channel - 21define horizontal marketing systemis whereby two or more company at the same level join together through contractual to obtain more economic and scales impact than each can be achieve alone
- 22define vertical marketing systemit is a channel that is integrated from producer to final intermediaries
all is integrated in a more or less co-ordinate fashion
3 major types; corporate, contractual and administered - 23define multi channel marketing systemit is to set up two or more channel to reach the customer directly and by-pass the intermediaries
- 24criticism of marketing on individualhigh price due to high cost
aggressive selling
deceiving the customer - over promise
product quality
planned obsolescence - sell updated goods to developing countries - 25what is marketing?it is a process to create value with the customer to build a strong and profitable relationship which by they can capture the values from customer in return
it involves creating communicating, delivering and exchange values to ppl - 26what is marketing environment?it is a general atmosphere in which marketer operate & are influence by the external forces. it consist of actors and forces outside marketing that affect the mgt's ability to develop LT relationship with the customer
opportunity and threats - 27internal factors affecting pricingmarketing objectives - survival, mkt shares, max profit
cost of the producing the products
marketing mix strategy - products, distribution, and promotions
mgt consideration - small vs big firms, who set the price - 28external factors affecting pricingcost structure of the industry - learning curve, high sunk cost?
mkt structure - perfect vs imperfect
consumer demand - elastic vs inelastic
macroeconomic - high vs low inflation
competitor cost and price- follow or not - 29how to make consumer less price sensitive?uniqueness of the product
no substitute
cost of expenditure vs total cost/income
hard to compare the quality
sunk investment
quality matches the price paid
share cost effect - family - 30list the types of stakeholder based on the 3 attributeslatent - 1 attributes
discretionary - legitimacy
expectant - 2 attributes
definitive - all 3 attributes
dangerous - power + urgency
dependent - legitimacy + urgency
dominant - power + urgency - 31what is power?it's a probability of one actors within the social relationship is in the position to carry out his own will despite resistant
- 32what is legitimacy?it's general perceptions / assumptions that the entity's actions are appropriate, proper and desirable within some socially constructed systems of norms, values, belief & definitions
* it the prerequisite for the success exchange - 33what is power?it defines the degree which stakeholder claims for immediate attention
- 34what is the different type of marketing exchange?1. restricted
2. complex
3. generalized - 35define restricted exchangeit describe a two parties reciprocal relationships. the relationship can be formed between customer-salesman, wholesaler-retailer. it signifies "give to & receive to"
two characteristics: 1. maintain and promote repeated social exchange
2. a favor for a favor - 36define generalized exchangedescribe at least 3 parties univocal reciprocal relationships. univocal reciprocal means that the parties do not benefit each other directly.
it's extremely beneficial when using societal marketing orientation. - 37define complex exchange?it describe at least more than 3 parties relationships. direct exchange is formed between parties resulting in interconnecting web of mutual relationship. eg: retailer exchange w/customer, wholesaler exchange w/retailer
- 38Disadvantage of using generalized exchangeneed to identify the receiver and the third parties they would like to reach out through the receiver.
it is possible there is no relationship between both of them leading to a waste of resources.
firms do not have direct control on how 3rd party influence ppl
LT investment, costly and difficult to estimate return - 39porter's 5 forces model1. bargaining power of suppliers - few and large, not differential,
2. bargaining power of buyer - bulk, backward integration
3. threat of new entry - demand push prices
4. threat of substitute - comparative adv
5. intensity competition of the industry - 40types of game theoryzero-sum: 1 player gain in the expense of another player
non zero-sum: everybody cooperate and gain - 41what is business orientation?business Orientation covers different dimensions, depending on the purpose it serves.
Different businesses apply different orientations, depending on their individual goals and strategies - 42define production conceptsThe production concept holds that consumers will favor products that are widely available and low in cost. Therefore, mgt should focus on achieving high production efficiency and wide distribution coverage
eg: lenovo dominate other Chinese brands PC - 43define product conceptsit defines that customer favors products that offers the most quality, performance or innovative feature. mgt focus on making superior products and improve them overtime
aims to attract discriminating customer thro quality and pulls toward the firms - 44what is marketing myopia?orientation towards products rather than towards customer's needs
not solving customer problems
customer need tends to change, if don't change w/customer, they will be selling items that customer no longer needed - 45define selling conceptselling concepts holds that consumers when left along, they would not buy enough of the entity's products. therefore, they will have to undertake aggressive selling approach.
it takes an "inside-out" approach which by they focus on satisfying their entity needs and ways find customer for them
usually sell unsought goods that ppl would not think of buying - 46define marketing conceptsmarketing concepts holds when considering the needs and wants of the customer and create an offering with values proposition that satisfy customer
it is an "outside-in" approach by identify and adjust their effort to meet those needs.
effective if customer know what they want - 47define societal marketing conceptssocietal marketing concept holds that marketing strategy should deliver value to customers in a way that maintains or improves both the consumer’s and society’s well-being.
- 48steps to design distribution channel1. analysis customer needs in the target segment
2. set channel objectives - desired service lvl to serve, based on various factors
3. identify major alternatives - types vs number of middleman
4. responsibilities of channel members
5. evaluating major alternatives - economic, control and adaptive - 49what is co-ordination?it refers to the degree to which the channel member's activities are well organized and synchronized. it involves aligning their activities to achieve their objectives
- 50what is the different type of co-ordination?1. outcome based - target orientated, focus on ST results, reluctant to invest for LT benefits
2. behaviour based - relationship orientated, focus on LT results - 51what is social networking?social influences can occurs through the transmission of information that reduce uncertainty and search efforts
- 523 factors on how consumer are influence by other through social networking?1. tie-strengh - link to membership reference grp
2. social similarity - trust others who are similar to them
3. degree of centrality - degree of connectivity, no of ppl in the network
(many vs few) - 53how do customer signal to the public?uses explicit or subtle signal
explicit signal - use flashy brands, want to associate w/other hence adopt the grp brand symbol
subtle signal - use less recognized brands, hard to decode by outsider, grp identity, differential themselves - 54why company using CSR?able to protect itself from external shock
give public a positive image of the company
pressure from the public
protection on investment - SH worried the safety of their investment - 55types of CSR company can adopt1. donation- most common
2. product related - use bio-degradable,
3. business practice - protect environment, employee relation policy (fair to employee) - 56what is prospect theory?it defines the insight of anomalies and contradictions of consumer behaviour in particular when making decision under the condition of risk
more emotional and do not understand why they behave in such a way - 57what is feedback loop?it explain the human behaviour in particular to consumer buying behaviour. it describe how self concept influence how ppl understand who and what they are. it is an internalise role played in socialization process. it illustrate how self concept is connect to their actions.
- 58what is the different type of feedback loop?1. basic - well defined self concept -> actions
2. dissonance reducing - actions -> self concept, inconsistency to self concept
3. social factor - social noms ->actions -> self concepts - 59explain BASIC FEEDBACK LOOPit suggest that consumer has well defined self concepts and able to make purchase decision with reference in understanding who he is and how he want other ppl to perceived who he is. the formation of self concepts is a set of psychological factors. and it's actions can be reinforce by internal and external attributes
- 60Explain dissonance reducing feedback look?it explain that consumers will construct a reason for his actions after the actions has been taken. usually will felt dissonance- regrets and discomfort with high involvement purchase with low brand difference. self concepts is reduces due to inconsistency of who and what they have. they will justify actions and change self concepts and will construct a reason to feel good
- 61explain what is social factor feedback loop?it explain that social factors such as social and culture shape up consumer behaviour and self concepts. within their culture and society, they learned how to behavior and what to do. this social pressure drives them out of comfort zone and behaviour is such a way to be accept within their social forces. personality and preference shape their behaviour and was reinforced after actions was taken.
- 62list consumer behaviour psychological factorsage and life cycle stage - buy different things over their life time
occupation - blue vs white collar
economics - income level
lifestyle- pattern living in a world
personality and self concepts
Information
- Description
- bachelor degree Marketing Flashcards on POM, created by cv g on 03/03/2017.
- Created by
- cv g · Mar 2017
- Updated
- Feb 4, 2018
- Views
- 0
- Rating