Marketing (Reviewer) PDF

MARKETING (REVIEWER) 5. Consumption Noreen Tanyag 6. Post Consumption Evaluation PART 1: ENUMERATION Goals of Marketing Marketing Research Process 1. Identifying target market...

MARKETING (REVIEWER) 5. Consumption Noreen Tanyag 6. Post Consumption Evaluation PART 1: ENUMERATION Goals of Marketing Marketing Research Process 1. Identifying target market 2. Increasing sales and profits D– defining the problem and research objective 3. Increasing brand awareness I– identify the problem 4. Increasing market share C– collecting the data 5. Countering competitive strategies A– analyze the data 6. Reputation R– reporting and Interpreting the findings 7. Increasing distribution channel Measuring Market Demand Marketing Mix Variables 1. Primary Demand 1. Product 2. Selective Demand 2. Place 3. Promotion Marketing Environment 4. Price 1. Social forces PART 2: IDENTIFICATION 2. Economic forces 3. Technological forces Green Marketing- refers to the process of selling 4. Competitive forces products and/or services based on their 5. Regulatory forces environmental benefits. Participants in Organizational Buying Process Marketing- the activity, set of institutions, and processes for creating, communicating, 1. Users delivering, and exchanging offerings that have 2. Influencers value for customers, clients, partners, and society 3. Deciders at large. 4. Approvers 5. Buyers Competition- is any company in an industry or a 6. Gatekeepers similar industry that offers a similar product or service. Scope of Marketing Market Demand- is the total demand of all 1. Goods potential customers for a specific product/service 2. Services over a specific period in a specific market area 3. Experiences 4. Events Sales Concept- refers to the idea that people will 5. Persons buy more goods and services through personal 6. Places selling and advertising done assigned 7. Properties aggressively to push them in the market 8. Organizations 9. Information Marketing Concept- is a philosophy which states 10. Ideas that an organization must try hard to find out and satisfy the needs and wants of consumers while Purchase Decision Process at the same time accomplishing the organizational goals. 1. Problem Recognition 2. Search for Information Utility- refers to the total satisfaction consumers 3. Pre-purchase Evaluation of Alternatives can receive from the consumption of a product or 4. Purchase service. Value- refers to the value customers place on a Consumer Survey- provides information that product or service. could guide management in redirecting sales effort toward the right regional markets, or the Satisfaction- is the measure of how well correct socio economic groups of households, or customer expectations from a purchased product the right age group. or service have been met. Questionnaire- is by far the most common Industrial Goods- are purchased in order to make instrument. It consist of a set of questions other goods, to serve as a raw material or input in presented to a respondents for his or her answers the production of other goods PART 3: TRUE OR FALSE Consumer Behavior- the study of individuals, groups, or organizations and the processes they Government Market- agencies that buy products use to select, secure, use, and dispose of and services for use in the production of goods products, services, experiences, or ideas to satisfy and services. needs and the impacts that these processes have on the consumer and society Industrial Markets- organizations that require goods and services for the purpose of producing Branding- provides a product or services a goods and services are called industrial markets. unique distinguishing name, logo, symbol, or image which used to differentiate it from other Organizational Markets- are those that buy similar products and services. goods for production purpose or for reselling. Event Marketing- is the marketing of sport, Nonprofit Organizations- are nongovernmental culture and charity activities to selected target organizations that serve their customers but do markets not have profits as an organizational goal. Cause Marketing- is the identification and Reseller Markets- are organizations that buy marketing of a social issue, cause or idea to goods and services which they later sell at a selected target markets. profit. Person Marketing- entails endeavors aimed at Interest– the consumer is stimulated to seek cultivating the attention, interest and preferences information about the new product. of a target market toward a celebrity or authority figure Evaluation– consumer considers whether trying the new product makes sense. Marketing Research- is the systematic design, collection, analysis and reporting of data and Adoption– consumer decide s to make full and findings relevant to a specific marketing situation regular use of the new product facing an organization. Awareness– the consumer becomes aware of the Sample- is that part of statistical practice new product, but lacks information about it. concerned with the selection of a subset of individuals from within a segment of the Trial– the consumer tries the new product on a population the whole population small scale to improve his or her estimate of its value. Descriptive Research- describe things as market potential for a product, or the demographics and consumer’s attitudes. Galvanometer- measures strength of interest or emotions aroused by a subject’s exposure to different stimuli, such as an ad or picture.