Podcast
Questions and Answers
What was the primary strategy used by Shreddies to boost sales?
What was the primary strategy used by Shreddies to boost sales?
Which aspect of the Shreddies campaign played a crucial role in consumer engagement?
Which aspect of the Shreddies campaign played a crucial role in consumer engagement?
What concept does the Shreddies campaign exemplify regarding product marketing?
What concept does the Shreddies campaign exemplify regarding product marketing?
In terms of brand identity, how did Shreddies facilitate a change in consumer perception?
In terms of brand identity, how did Shreddies facilitate a change in consumer perception?
Signup and view all the answers
What was the underlying idea behind Shreddies' marketing approach?
What was the underlying idea behind Shreddies' marketing approach?
Signup and view all the answers
How did shifting from square to diamond shape serve the Shreddies brand?
How did shifting from square to diamond shape serve the Shreddies brand?
Signup and view all the answers
Which marketing element was particularly emphasized through the Shreddies campaign?
Which marketing element was particularly emphasized through the Shreddies campaign?
Signup and view all the answers
What can be inferred about consumer behavior from the Shreddies campaign?
What can be inferred about consumer behavior from the Shreddies campaign?
Signup and view all the answers
What is the main purpose of mystery shopping?
What is the main purpose of mystery shopping?
Signup and view all the answers
Which technique is NOT commonly associated with exploratory research?
Which technique is NOT commonly associated with exploratory research?
Signup and view all the answers
Which of the following best describes the goal of exploratory research?
Which of the following best describes the goal of exploratory research?
Signup and view all the answers
What is a characteristic feature of qualitative research techniques?
What is a characteristic feature of qualitative research techniques?
Signup and view all the answers
What should be avoided when constructing questionnaires?
What should be avoided when constructing questionnaires?
Signup and view all the answers
Which method emphasizes the quantitative aspect of data collection?
Which method emphasizes the quantitative aspect of data collection?
Signup and view all the answers
What is the primary purpose of conducting a pilot study?
What is the primary purpose of conducting a pilot study?
Signup and view all the answers
Which statement about open-end questions is accurate?
Which statement about open-end questions is accurate?
Signup and view all the answers
Why might marketers create needs for consumers?
Why might marketers create needs for consumers?
Signup and view all the answers
Which of the following is a common misconception about closed-end questions?
Which of the following is a common misconception about closed-end questions?
Signup and view all the answers
What is the primary goal of market segmentation?
What is the primary goal of market segmentation?
Signup and view all the answers
Which segmentation variable includes factors like age and income?
Which segmentation variable includes factors like age and income?
Signup and view all the answers
What is a characteristic of psychographic segmentation?
What is a characteristic of psychographic segmentation?
Signup and view all the answers
In targeting, what defines a niche market?
In targeting, what defines a niche market?
Signup and view all the answers
Which criterion is NOT considered when evaluating a market segment's viability?
Which criterion is NOT considered when evaluating a market segment's viability?
Signup and view all the answers
How can behavioral segmentation be best defined?
How can behavioral segmentation be best defined?
Signup and view all the answers
What is a key benefit of using sustainable packaging in marketing?
What is a key benefit of using sustainable packaging in marketing?
Signup and view all the answers
Which element of STP helps in creating distinct space in the market?
Which element of STP helps in creating distinct space in the market?
Signup and view all the answers
What does the term 'self-decision' in decision-making imply?
What does the term 'self-decision' in decision-making imply?
Signup and view all the answers
What is an example of a targeted offer for stressed individuals?
What is an example of a targeted offer for stressed individuals?
Signup and view all the answers
What is the primary goal of the STP framework in marketing?
What is the primary goal of the STP framework in marketing?
Signup and view all the answers
Which of the following best describes the distinction between a payer and a purchaser in consumer roles?
Which of the following best describes the distinction between a payer and a purchaser in consumer roles?
Signup and view all the answers
Which type of risk in food purchases relates to the possibility of financial loss due to overpaying?
Which type of risk in food purchases relates to the possibility of financial loss due to overpaying?
Signup and view all the answers
In Maslow's hierarchy, which term is defined as a desire that satisfies a need?
In Maslow's hierarchy, which term is defined as a desire that satisfies a need?
Signup and view all the answers
What is often a consequence of providing consumers too many choices?
What is often a consequence of providing consumers too many choices?
Signup and view all the answers
Which consumer role is typically focused on the product’s functionality after purchase?
Which consumer role is typically focused on the product’s functionality after purchase?
Signup and view all the answers
Which of the following risks may occur when a food product does not meet safety standards?
Which of the following risks may occur when a food product does not meet safety standards?
Signup and view all the answers
What does the term 'motive' refer to in the context of consumer behavior?
What does the term 'motive' refer to in the context of consumer behavior?
Signup and view all the answers
Which of the following would NOT typically be considered a consumer's expectation?
Which of the following would NOT typically be considered a consumer's expectation?
Signup and view all the answers
In consumer decision-making, which stage involves recognizing that a problem exists?
In consumer decision-making, which stage involves recognizing that a problem exists?
Signup and view all the answers
Which classification of products refers to items that are frequently replaced and typically have a habitual purchase pattern?
Which classification of products refers to items that are frequently replaced and typically have a habitual purchase pattern?
Signup and view all the answers
In marketing, which element primarily fulfills the need for customer engagement and relationship management?
In marketing, which element primarily fulfills the need for customer engagement and relationship management?
Signup and view all the answers
What aspect of product classification focuses on items that can substitute for one another?
What aspect of product classification focuses on items that can substitute for one another?
Signup and view all the answers
What is one of the primary goals of having a significant marketing budget in a business strategy?
What is one of the primary goals of having a significant marketing budget in a business strategy?
Signup and view all the answers
Which of the following best describes a durable good?
Which of the following best describes a durable good?
Signup and view all the answers
Study Notes
Food System Marketing Index
- Essence of marketing
- Immutable laws of marketing
- Environment analysis
- Company potential analysis
- SWOT analysis
- Marketing research
- Segmentation
- Marketing mix
- Consumer value
Literature
- Kotler, P., & Keller, K. L. (2015). Marketing management. Pearson.
- Fuller, G. W. (2011). New Food Product Development -From Concept to Marketplace. CRC Press.
- Cavicchi, A., & Santini, C. (2017). Case Studies in the Traditional Food Sector. Woodhead Publishing.
- Schaffner, D. J. ( ). Food Marketing Management. An International Perspective.
- Solomon, M., Russell-Bennett, R., & Previte, J. (2012). Consumer Behaviour.
- Nie, C., & Zepeda, L. (2002). A Lifestyle Segmentation Study of US Food Shoppers to Examine Organic and Local Food Consumption.
Manipulation or Persuasion?
- Shreddies cereal shape change campaign
- Campaign focused on product differentiation
- Example of marketing campaign that focused on an idea rather than a product
- Persuasion methods in marketing
How to Define Marketing
- Set of integrated instruments
- Integrated decision-making process
- Integrated enterprise function
- Business organizational and management concept
- Concept and way of thinking (philosophy)
Outstanding Marketing Thinkers
- Peter Drucker (1909-2005)
- Marketing is a business management philosophy
- The goal of marketing is to know consumers and their needs so well that products and services sell themselves
- The only business goal is to create a customer.
What About Profit?
- Profit is a measure of business legitimacy, not the rationale
- Marketing is a management process that recognizes, anticipates, and meets customer needs.
American Marketing Association
- Marketing definitions are revised every three years
- Definitions focus on planning and executing the creation, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
- Marketing is the process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society.
The Nature of Marketing Activities
- It is an administrative and social process.
- Observers and analysis of phenomena.
- Foundation in economics, statistics, sociology, psychology, and anthropology.
- Long-term goals, strategy for market environment and consistency with company strategy
- Systemic nature of marketing activities.
Evolution of Company Orientation
- Production-centric
- Product-centric
- Selling-centric
- Marketing-centric
Dominent Logic
- Goods-Dominant Logic
- Service-Dominant Logic
- Customer-Dominant Logic
- Value is co-created by multiple actors
- All social and economic actors are resource integrators
Value in Marketing
- Percieved value
- Value proposition
- Value-in-use
- Value-in-context
- Value-in-experience
Immutable Laws of Marketing
- Law of Leadership: better to be first than to be better
- Law of the Mind: better to be first in the mind
- Law of Exclusivity: two companies cannot own the same word
- Law of Perspective: marketing effects take time
- Law of the Opposite: if you are shooting for second place, your strategy is determined by the leader.
- Law of Resources: Ideas without money are worthless
Market Environment
- What is a market?
- What is a transaction?
- Components of the macro and micro environment
- How to identify competitors?
- Types of competitors
Environment Analysis
- Industry definition: Group of companies that produce similar or identical products within a specific geographic area
- Sector definition: Broad area of the economy where businesses share similar products/services.
- Porter's Five Forces Model
- Threat of new entrants
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products or services
- Industry rivalry
Value Chain
- Primary activities: Inbound logistics, operations, outbound logistics, marketing and sales, service
- Support activities: Infrastructure, technology, human resources, procurement
BCG Matrix
- A framework for evaluating a company's business units or products
- Categories: Stars, cash cows, question marks, and dogs
- Uses market growth and market share
Marketing Research
- Converting management dilemmas into research questions
- Determining data sources and research methods
- Selecting a research sample
- Designing research instruments
- Carrying out pilot studies
- Collecting information
- Analyzing information
- Presenting findings
Types of Research
- Comprehensive research (census)
- Non-exhaustive studies (sample)
- Target population
- Sample unit
- Research sample
- Sampling procedures (probability and non-probability)
- Data sources (secondary and primary)
- Participants in research process (pollster and respondent)
- Research methods (surveys, interviews, focus groups, etc.)
Additional Topics
- Marketing Mix
- Product
- Price
- Place
- Promotion
- Brand Equity
- Brand Positioning (Objective vs subjective)
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
