Marketing Management 3 Exam Reviewer PDF

MARKETING MANAGEMENT 3 – PRELIM EXAM REVIEWER MODULE 2: THE VALUE DELIVERY PROCESS, CORE COMPETENCIES, Coverage: Modules 1-6​ STRATEGIC PLANNING GAP, BUSINESS Exam Type: Identification...

MARKETING MANAGEMENT 3 – PRELIM EXAM REVIEWER MODULE 2: THE VALUE DELIVERY PROCESS, CORE COMPETENCIES, Coverage: Modules 1-6​ STRATEGIC PLANNING GAP, BUSINESS Exam Type: Identification, Morse Type, UNIT STRATEGIC PLANNING Enumeration The Value Delivery Process MODULE 1: TERMINOLOGIES, CORE CONCEPTS OF MARKETING, COMPANY 1.​ Traditional Physical Process ORIENTATION TOWARD THE Sequence – Focuses on production, MARKETPLACE logistics, and product delivery. 2.​ Value Creation and Delivery Core Marketing Concepts: Sequence – Includes segmentation, targeting, positioning, and differentiation. 1.​ Needs, Wants, and Demands – Needs are basic human requirements, wants Core Competencies are shaped by culture and personality, and demands are wants backed by ​ A "core" business process is defined as purchasing power. the minimum individual tasks to be 2.​ Target Markets, Positioning, and accomplished to provide a certain level Segmentation – Dividing a market into of consistency in output. segments, choosing the right target ​ A core competency is "a harmonized segment, and positioning a brand combination of multiple resources and effectively. skills that distinguish a firm in the 3.​ Offerings and Brands – Products, marketplace." services, experiences, or ideas that create value for customers. Strategic Planning Gap 4.​ Value and Satisfaction – Ensuring ​ The difference between a company’s customers perceive a product’s worth in strategic goals and its actual exchange for what they pay. performance, requiring marketing 5.​ Marketing Channels – Distribution strategies to bridge the gap. paths used to deliver value to customers. MODULE 3: MARKETING PLAN STEPS 6.​ Supply Chain – The entire network from raw materials to final consumers. Marketing Plan Structure: 7.​ Competition – Identifying direct and indirect competitors in the marketplace. 1.​ Executive Summary and Table of 8.​ Marketing Environment – External Contents – Overview of main objectives factors (economic, technological, social, and key sections. and political) influencing marketing 2.​ Situation Analysis – Market trends, strategies. SWOT analysis, and competition analysis. Company Orientations Toward the 3.​ Marketing Strategy – Defining mission, Marketplace: objectives, and customer needs. 4.​ Financial Projections – Sales 1.​ Production Concept – Consumers forecasts, budget allocation, and prefer products that are widely available break-even analysis. and inexpensive. 5.​ Implementation Control – Monitoring 2.​ Product Concept – Consumers favor and adjusting strategies for better high-quality, performance, and performance. innovation. 3.​ Selling Concept – Consumers will not buy enough unless they are aggressively promoted to. 4.​ Marketing Concept – Focusing on satisfying customer needs better than competitors. 5.​ Societal Marketing Concept – Delivering value in a way that preserves consumer and societal well-being. MODULE 4: FACTORS INFLUENCING The Buying Center: CONSUMER BEHAVIOR, BUYING ROLES, STAGES IN THE BUYING DECISION ​ A group of individuals in an organization PROCESS responsible for purchase decisions. Factors Influencing Consumer Behavior: Stages in Business Buying Process: 1.​ Cultural Factors – Culture, subculture, 1.​ Problem Recognition – Identifying a and social class affecting consumer need within the organization. choices. 2.​ General Need Description – Defining 2.​ Social Factors – Reference groups, requirements. family, and roles influencing buying 3.​ Product Specification – Determining behavior. the specific features needed. 3.​ Personal Factors – Age, lifestyle, 4.​ Supplier Search – Looking for potential personality, and economic situation. suppliers. 4.​ Psychological Factors – Motivation, 5.​ Proposal Solicitation – Requesting perception, learning, beliefs, and proposals from suppliers. attitudes. 6.​ Supplier Selection – Choosing the best supplier. Buying Roles: 7.​ Order-Routine Specification – Placing orders and setting terms. ​ Initiator – The person who suggests the 8.​ Performance Review – Evaluating the idea. supplier’s performance. ​ Influencer – The one who influences the decision. MODULE 6: LEVELS AND PATTERN OF ​ Decider – The one who makes the final MARKET SEGMENTATION, MARKET decision. SEGMENTATION PROCEDURE, METHODS ​ Buyer – The one who purchases the OF SEGMENTATION product. ​ User – The one who consumes the Levels of Market Segmentation: product. 1.​ Mass Marketing – One offer for the Stages in the Buying Decision Process: entire market. 2.​ Segment Marketing – Targeting specific 1.​ Problem Recognition – The consumer segments. recognizes a need or problem. 3.​ Niche Marketing – Specialized offerings 2.​ Information Search – Researching for small segments. available options. 4.​ Micromarketing – Tailoring marketing 3.​ Evaluation of Alternatives – for individuals or local areas. Comparing different choices. 4.​ Purchase Decision – Making the final Market Segmentation Procedure: decision. 1.​ Identifying market segments. 5.​ Post-Purchase Behavior – Satisfaction 2.​ Evaluating segment attractiveness. or dissatisfaction after purchase. 3.​ Selecting target segments. MODULE 5: BUYING SITUATIONS, THE Methods of Segmentation: BUYING CENTER, STAGES IN BUSINESS BUYING PROCESS 1.​ Demographic Segmentation – Age, gender, income, education, occupation, Types of Buying Situations: etc. ​ Straight Rebuy – Routine reorders with 2.​ Geographic Segmentation – Region, little evaluation. city size, climate, population density. ​ Modified Rebuy – Requires evaluation 3.​ Psychographic Segmentation – of alternatives. Lifestyle, personality traits, values, ​ New Task Buying – A first-time interests. purchase decision. 4.​ Behavioral Segmentation – Usage rate, brand loyalty, benefits sought.