Exam uno- part 2
Marketing 300 with Brachman at University of Wisconsin - Madison
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generic market
market w/ broadly similar needs and sellers offering various often diverse ways of satisfying these needs
product market
market w/ very similar needs and sellers offering various close substitute ways of satisfying those needs
good mark segments
homo within, hetero between, substantial, operational
mark segmentation process
naming broad product mark
segmenting these in order to select target markets and develop suitable mark mix
segmenting these in order to select target markets and develop suitable mark mix
segmentation
clustering ppl w/ similar needs into mark segment
combining
combining 2/more submarkets into one larger target market as a basis for one strategy
economies of scale and less investing
but harder to develop mark mix to satisfy potential customers
economies of scale and less investing
but harder to develop mark mix to satisfy potential customers
qualifying dimensions
those relevant to including cust type in product market
determining dimension
those that actually affect cust purchase of specific product or brand in a product market
segenting dimensions
behavioral, demographic, geographic
positioning
refers to how cust think about proposed or present brands in a mark
discretionary income
income after paying taxes and necessities
income concentration
40% <50 thou
20% >112 thou
median 60 thou
middle income consumers hit hard by rising cost of necessities
20% >112 thou
median 60 thou
middle income consumers hit hard by rising cost of necessities
need
basic forces that otivate person to do something
want
needs learned during a person's life
drive
strong stimulus encouraging action to reduce need, internal
selective exposure
our eyes and minds seek out and notice only info that interests us
selective perception
we screen out/ modify ideas messages and info that conflict with previously learned attitudes and beliefs
selective retention
we remember only what we want to remember
belief
a person's opinion about something
attitude
person's point of view toward something, likes and dislikes
social influences to cust behavior
reference group, opinion leader, culture
problem solving continuum
routinized response behavior
limited prob solving
extensive prob solving
limited prob solving
extensive prob solving
dissonance
feeling of uncertainty about whether the correct decision was made
hierarch of needs model
PSSP
physiological
safety
social
personal
physiological
safety
social
personal
business vs. consumer buying process
purchase criteria and specifications
multiple buying influence
problem solving process
b2b e commerce
buyer seller relationship
multiple buying influence
problem solving process
b2b e commerce
buyer seller relationship
3 bus buying processes
manufacturers
producers of services
retailers and wholesalers
gov units
producers of services
retailers and wholesalers
gov units
demographics of manufacturers
majority small w/ half having less than 10 workers, output from small firms is less than 3 percent
gov market
30% of GDP, largest cust group
foreign corrupt practices act
1977 prohibits us firms from paying bribes to foreign officials, 88 amended grease money in culturally customary
purchase order
commercial doc issued by buyer to seller indicating types quantites and agreed prices fro products or services the seller will provide to buyer
requisition
a request to buy something
About this deck
About StudyBlue
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Things like personalized quizzes and friendly reminders about when (and what) to study next.
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“I have been getting MUCH better grades on all my tests for school. Flash cards, notes, and quizzes are great on here. Thanks!”
Kathy
Kathy