1、SemeSter teSt 2FeedbackFoundationS oF marketingA-1Define what marketing is and discuss its core concepts.Explain the process.CORE MARKETING CONCEPTS(Foundations of Marketing p.4)Needs,wants and demandsMarketing offers,products,services and experiencesValue and satisfactionExchange,value and relation
2、shipsMarketsCore Marketing ConceptsMARKETINGIs a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with othersA-2Discuss the marketing mix and talk about the facets of each factor.MARKETINGMIXPRODUCT Variety
3、 Quality Design Features Brand Name Packaging ServicesPRICE List Price Discounts Allowances Payment Period Credit TermsPROMOTION Advertising Personal Selling Sales Promotion Public RelationsPLACE Channels Coverage Assortments Locations Inventory Transportation LogisticsA-3Describe the steps in the m
4、arket segmentation,targeting and positioning process.Steps in the market segmentation,targeting and positioning process(Foundations of Marketing,P 103)MARKET SEGMENTATION Identify basis for segmenting the markets Develop segment profilesTARGET MARKETING Develop measure of segment attractiveness Sele
5、ct target segmentsMARKET POSITIONING Develop positioning for target segments Develop a marketing mix for each SegmentA-4Describe Individual Product and Service Decisions faced by companies.Individual Product and Service Decisions(Foundations of Marketing,P 132)Product attributesBrandingPackagingLabe
6、lingProduct support serviceA-5Compare cost based and value based pricing.General Pricing ApproachesValue Based Pricing(Foundations of Marketing,P 171)ProductCostPriceValueCustomersCustomersValuePriceCostProductCOST BASED PRICINGVALUE BASED PRICINGB-1Discuss the marketing management functions and giv
7、e examples of your own to demonstrate.MARKETING MANAGEMENT FUNCTIONSFoundations of Marketing p 43Marketing Analysis What is Happening in the market?Marketing Planning What should we do?Marketing Implementation What will make our plans work?(Action)Marketing Control How are we doing?Discuss the growt
8、h share matrix and use your own examples to explain it further.B-2THE GROWTH SHARE MATRIX(Foundations of Marketing p.33)StarQuestion MarkCash CowDogHIGHHIGHLOWLOWMarket Growth RateRelative Market ShareList and discuss the major bases for segmenting consumer markets.B-3Segmentation Variables(Consumer
9、 Markets)(Foundations of Marketing p.104)GEORGRAPHICWorld,Region or Country.Country Region.City or Metro Size.DEMOGRAPHICAge.Gender.Family Size.Family Lifecycle.Income.Occupation.Education.Religion.Race.Generation.Nationality.PSYCHOGRAPHICSocial Class.Lifestyle.Personality.BEHAVIORALOccasions.Benefi
10、ts.User Status.User Rates.User Loyalty.Readiness Stage.Attitude towards product.B-4Discuss the Major Brand Strategy Decisions.Major Brand Strategy Decisions(Foundations of Marketing,P 140)Attributes Benefits Beliefs and valuesBrand Positioning Selection ProtectionBrand Name Selection Manufacturers b
11、rand Companys brand Licensing&Co brandingBrand sponsorship Line&Brand Extensions Multi-brands New brandsBrand DevelopmentB-5Discuss the Product Mix Pricing Strategies.Pricing StrategiesProduct Mix Pricing Strategies(Foundations of Marketing,P 176)Product Line PricingOptional Product PricingCaptive P
12、roduct PricingBy Product PricingProduct Bundle PricingSegmented PricingPsychological PricingPromotional PricingGeographical PricingInternational PricingC-1Discuss your understanding of the product/market expansion grid,and use your own examples to explain.THE PRODUCT/MARKET EXPANSION GRID(Foundation
13、s of Marketing p.36)Market PenetrationProduct DevelopmentMarket DevelopmentDiversificationExisting MarketsNew MarketsExisting ProductsNew ProductsDescribe the marketing process and the forces that influence it.C-2THE MARKETING PROCESSFoundations of Marketing p.38Marketing IntermediariesCompetitorsSu
14、ppliersPublicMarketing PlanningMarketing ImplementationMarketing AnalysisMarketing ControlProductPromotionPricePlaceTarget MarketingMarket PositioningMarket SegmentationProfitable Customer RelationshipsC-3List and discuss the major bases for segmenting business markets.Segmentation Variables(Busines
15、s Markets)(Foundations of Marketing p.110)DEMOGRAPHICSIndustry.Company Size.Location.OPERATING VARIABLESTechnologyUser StatusCustomer Capabilities.PURCHASING APPROACHESPurchasing-function.Power Structure.Existing RelationshipsPurchase Policies.Purchasing CriteriaSITUATIONAL FACTORSUrgency.Specific A
16、pplication.Order SizePERSONAL CHARACTERISTICSBuyer-Seller SimilarityAttitudes towards risksLoyaltyC-4Discuss branding developing strategies.Brand Development Strategies(Foundations of Marketing p.144)Line ExtensionBrand ExtensionMulti BrandsNew BrandsExistingNewExistingNewB R A N D N A M E P R O D U
17、 C T C A T E G O R YC-5Compare New Product Pricing Strategies with Competitor Based Pricing.Pricing StrategiesNew Product Pricing Strategies(Foundations of Marketing,P 175)Market Skimming PricingMarket Penetration PricingGoing Rate PricingBid for Jobs(tenders)General Pricing ApproachesCompetitor Bas
18、ed Pricing(Foundations of Marketing,P 172)D-1Discuss the steps in the strategic planning process.Explain it further by giving examples of your own.STEPS IN STRATEGIC PLANNING(Foundations of Marketing p.29)Defining the company missionSetting company objectives and goalsDesigning the companys business
19、 portfolioPlanning marketing and other functional strategiesCorporate levelBusiness unit,product and market level.Why are we here?What will we do next?What do we need?How will we do it?Make The planDo/Work the planD-2Define marketing management and compare the five marketing management orientations.
20、Can you name a company that uses each of the orientations?Product ConceptProduction ConceptSelling ConceptMarketing ConceptSocietal MarketingMARKETING MANAGEMENT ORIENTATIONS(Foundations of Marketing p 9-11MARKETING MANAGEMENTThe art and science of choosing target markets and building profitable rel
21、ationships with them.D-3Discuss the Target Marketing Strategies?Target Marketing Strategies(Foundations of Marketing p.112)A Market coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.Undifferentiated MarketingA market coverage
22、strategy in which a firm decides to target several market segments and design separate offers for each.Differentiated MarketingA Market coverage strategy in which a firm goes after a large share in one or a few segments(Niches).Concentrated(Niche)MarketingThe Practice of tailoring products and marke
23、ting programs to the needs and wants of specific individuals and local consumer groups includes local marketing and individual marketing.Micro marketingTargeting NarrowlyTargeting broadlyD-4Discuss the nature and characteristics of services?NATURE&CHARACERISTICSOF SERVICES(Foundations of Marketing p
24、.146)ServicesIntangibilityInseparabilityPerish abilityVariabilityD-5Show how you will calculate the price of an article using the cost based pricing method?General Pricing ApproachesCost Based Pricing(Foundations of Marketing,P 169)Unit Cost=Variable Cost+Fixed CostUnit salesMarkup Price=Unit Price
25、.1-Desired Return on SalesStep1Step2E-1Discuss the steps in the value chain and give examples to show your understanding of it.DesignManufactureMarketDeliversupportVALUE CHAIN(Foundations of Marketing p 37E-2Discuss the five steps in the consumer decision making process.Buyer Decision Process(Founda
26、tions of Marketing p 73Need RecognitionInformation SearchEvaluation of AlternativesPurchase decisionPost purchase behaviorE-3Discuss how a company position its products for maximum competitive advantage in the market place.Chapter 03&04Positioning for Competitive AdvantageFoundations of Marketing p.
27、116Choosing a Positioning Strategy Identify possible competitive advantages Choosing the right Competitive Advantage Selecting the overall Positioning strategyDeveloping a Positioning StatementCommunicating and Delivering the chosen positionE-4Discuss the types of marketing in the service industry.T
28、YPES OF MARKETING(Foundations of Marketing p.149)InteractiveMarketingExternalMarketingInternal MarketingEmployeesCustomersCompanyE-5Describe the Business Buyer Behavior ModelBusiness Buyer Behavior Model(Foundations of Marketing p.54)The Buying CenterInterpersonal and Individual preferencesBuying De
29、cision processBUYING ORGANIZATIONMARKETINGProductPricePlacePromotionOTHEREconomicTechnologicalPoliticalCulturalCompetitiveENVIRONMENTProduct ChoiceSupplier ChoiceOrder QuantityDelivery terms and times.Service termsPaymentBUYER RESPONSEOrganizational InfluencesF-1Discuss the major Influences on Busin
30、ess Buyers.Major Influences on Business Buyers(Foundations of Marketing p.92)ENVIRONMENTALEconomic DevelopmentsSupply ConditionsTechnological ChangePolitical DevelopmentsCompetitive DevelopmentsCulture And CustomsORGANIZATIONALObjectivesPoliciesProceduresOrganizational StructureSystemsINTERPERSONALA
31、uthorityStatusEmpathyPersuasivenessINDIVDUALAgeEducationJob PositionPersonalityRisk AttitudesF-2Discuss the steps in the adoption process.The Adoption ProcessFoundations of Marketing p.77Awareness(What is that?)Interest(How does it work?)Evaluation(Is it for people like me?)Trial(Maybe I can try it
32、one time?)Adoption(Will I use it again?F-3Discuss the different options in Value propositions a company faces.Possible Value Propositions(Foundations of Marketing p 120)MMore for MoreMore for the SameMore for LessSame for LessLess for much LessLESSSAMEMORELESSSAMEMOREPRICEBENEFITF-4D e s c r i b e t
33、 h e f a c t o r s influencing PricingFactors influencing Pricing(Foundations of Marketing,P 159)Internal Factors Marketing Objectives Marketing Mix Strategy Costs Organizational considerationsPRICING DECISIONSExternal Factors Nature of the Market and Demand Competition Other environmental factors(E
34、conomy,resellers,government)F-5Discuss the different general pricing approaches.General Pricing Approaches(Foundations of Marketing,P 169)CBPCost Based PricingVBPValue Based PricingCPBPCompetitor Basted PricingG-1Discuss the different types of buying decision behavior and use examples to d e m o n s
35、 t r a t e y o u r understanding of the different types.TYPES OF BUYING-DECISION BEHAVIOR(Foundations of Marketing p.70)Complex Buying BehaviorVariety Seeking Buying BehaviorDissonance Reducing buying behaviorHabitual Buying behaviorHigh involvementLow involvementSignificant differences between bran
36、dsFew differences between brandsDiscuss the members of the buying center.G-2Participants in the Buying Decision Process(Foundations of Marketing p.91)UsersInfluencersBuyersDecidersGatekeepersBUYING CENTERAll the individuals and units that participate in the business buying decision processG-3Discuss
37、 the different product classifications for consumer and business markets.Product and Service Classifications(Foundations of Marketing,P 129)Convenience Products Frequent purchases,low involvement Low Price Widly distributed Mass promotion by producer Toothpaste magazines,washing powderShopping Produ
38、cts Regular purchase,takes planning and shopping effort compare brands for price,quality Selective distribution Advertising by sellers and producers Appliences,televisons ectSpecialty Products Strong brand preference,loyalty.Special purchase effort,little comparison between brands,low price sensitiv
39、ity High price Exclusive distribution limited to 1 or 2 outlets Targeted promotion.Rolex watches and fine crystal wareUnsought Products Little product awareness/knowledge Will vary Will vary Aggressive advertising and personal selling Life insurance blood transfusion servicesINDUSTIRAL PROCUCT:Produ
40、cts bought by individuals and organizations for further processing or for use in conducting a businessG-4Discuss price elasticity of demand.The Demand Curve(Foundations of Marketing,P 166)PRICE ELASTICITY OF DEMAND%change in Quantity demanded%change in Price=G-5Discuss Break Even Analysis?General Pr
41、icing ApproachesBreak Even Analysis(Foundations of Marketing,P 170)D i s c u s s t h e F a c t o r s Influencing Consumer Behavior.H-1Factors Influencing Consumer Behavior(Foundations of Marketing p.55)CULTERALCultureSubcultureSocial ClassSOCIALReference groupsFamilyRoles and statusPERSONALAge and l
42、ifecycle stageOccupationEconomic SituationLifestylePersonality and Self conceptPSYCHOLOGICALMotivationPerceptionLearningBelieves and attitudesDescribe the consumer buyer behavior model.H-2Buyer Behavior Model(Foundations of Marketing p.54)Buyer CharacteristicsBuyer Decision processBUYERs BLACK BOXMA
43、RKETINGProductPricePlacePromotionOTHEREconomicTechnologicalPoliticalCulturalSTIMULIProduct ChoiceBrand ChoiceDealer ChoicePurchase AmountPurchase TimingBUYERs RESPONSEH-3Describe the three levels of product.The Three Levels of Product(Foundations of Marketing,P 129)AugmentedProductAfter sales Servic
44、eWarrantee GuaranteeInstallationDelivery,creditActualProductBrandQualityPackagingDesignFeaturesCoreBenefitH-4Discuss the General Pricing Approaches?General Pricing ApproachesMajor considerations in setting price(Foundations of Marketing,P 169)Product CostsCompetitors prices and other internal and external factorsConsumers perceptions of valuePrice FloorNo profits below this pricePrice CeilingNo demand above this priceName the types of buying situations.H-5Types of Buying Situations(Foundations of Marketing p.90)Straight RebuyModified RebuyNew TaskSystems Selling
