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Flashcards in First quiz Deck (12)
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1
Q

What are the elements of the Marketing System (independent controllable / uncontrollable
variables and dependent variables)?

A

Marketing mix(4p’s)
Behavioral response
Situational factors
Performance measures

2
Q

What is the DMP and which types of Marketing Research apply to which stages of this process?

A
Data Mining Process
Market Segmentation
Product Testing
Advertising Testing
Satisfaction and Loyalty Analysis
Brand Awareness and Reach
Pricing Research
3
Q

What is the overall objective of marketing and its two main sources?

A

To achieve a Sustainable Competitive Advantage

Differentiation and Cost Leadership

4
Q

How do we define a market and what do we thereby identify and how do we define segments?

A

By its use function

Features and benefits depending in values and lifestyles.

5
Q

What are the five forces of threat that determine the state of rivalry in a market?

A
Suppliers
Substitutes
Buyers
New entrants
Competition
6
Q

What are the five primary activities and four support functions of the Value Chain?

A
Inbound logistics
Production
Outbound logistics
Marketing & Sales
Service

Human Resources
Technology
Infrastructure
Procurement

7
Q
What are the Product Strategies – i.e. what are the four emphases depending on the three desired
earnings flow (immediate, steady, or future)?
A

Cost reduction
Product development
Line development
New products

8
Q

Do you know about Product Management? – PLC-curve, Diffusion Process, etc. (e.g. Gatekeeper,
Opinion leader – when people have total control over buying action, and then strong influence)?

A

Product Life Cycle curve

9
Q

What are the five elements of the Communications Mix (the Promotion “P”)?

A
Advertising
Sales promotion
Personal selling
Publicity
Public relations
10
Q

What are the four goals of Promotion? (For you own information you should want to know the
psychological cognitive want- definitions of these goals as well.)

A

Attract
Increase
Convert
Retain

11
Q

What are some various Pricing Strategies? (Factors and Objectives should be for your own
information and competence - but will not be asked))

A
Product bundle pricing
Market penetration pricing
Product line pricing
Optional product pricing
Captive product pricing
By product pricing
Market skimming pricing
12
Q

What are the four Channels of Distribution (of the Placement “P”)?

A

Direct face to face selling
Direct marketing
Middlemen
Owned outlets