Marketing Management Exam 2

Microenvironment 

the actors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediates, customer market, and publics 

Intermediaries

a person who acts as a link between people in order to try to bring about an agreement or reconciliation; a mediator

Publics

section of the community having a particular interest or connection

Macroenvironment

the larger societal forces that affect the microenvironment- demographic, natural technological, political, and cultural forces

Marketing management as a process: The Process Model 

Step 1 analyze the situation, step 2 develop an action plan, step 3 implement the plan 

GSTIC Model Top to Bottom

Goal, Strategy, Tactics, Implementation, Control

Responding to the market environment: Uncontrollable

react and adapt to forces in the environment

Responding to the market environment: Proactive

aggressive actions to affect forces in the environment 

Responding to the market environment: Reactive

watching and reacting to forces in the environment

Marketing research

the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

Developing Marketing Information: steps in the marketing research process 

defining the problem and research objectives, developing the research plan for collecting info, implementing the research plan 

3 types of research

exploratory, descriptive, casual

Focus Group

bring people together to share opinions and insights

Secondary data 

consists of info that already exists somewhere, having been collected for another purpose. internal and external 

Primary data

consists of of info gathered for the special research plan

Observational Research

involves gathering primary data by observing relevant people, actions, and situations

The questionnaire don'ts

personal info, vague and relative questions, difficult to remember info, big words, loaded or bias in question, too long

Accuracy

reducing bias, random error, and noise

Reliability 

consistency (under identical conditions), precision, and predictability 

Validity

are we measuring what we think we are measuring?

Construct validity

relating a construct of interest to other constructs in order to develop a comprehensive theoretical framework for the phenomenon being studied

Content validity 

relation of the appropriateness of the measurement to subjective judgements, typically by experts 

4 Types of marketing research

survey data, ethnographic, focus group, interviews

survey data

gathering info about consumer knowledge, attitudes, preferences, and buying behavior by asking a targeted set of respondents a pre-selected set of questions

Ethnographic research

involves sending trained observers to watch consumers - usually unobtrusively - in their '“natural environments” as they go about their daily lives

Focus Groups Clotaire Rapaille

Carl Jung’s analytical psychology: symbolism, archetypes, unconscious mind

Interviews 

gaining insights from targeted participants by engaging them in one-on-one conversations

Probability research samples

simple random sample, cluster area sample

Nonprobability samples

convenience, judgement, and quota

The buyer decision process for new products: adoption process 

the mental process an individual goes through from first learning about an innovation to final regular use 

Stages of the adoption process

awareness, interest, evaluation, trial, adoption

Cognitivism

getting inside the customers black box

Behaviorist approach: BF Skinner 

American psychologist, observable behavior, behavior is learned and maintained through reinforcement and punishment 

Don Ariely

external clues and environments drive systematic patterns of buying and decision making

Cognitive approach psychoanalytic

Sigmund Freud, ID, Ego, SuperEgo

_______ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization."

Marketing research 

Which of the following is the first step in the marketing research process?

defining the problem and objectives of the study

Individuals and households that buy or acquire goods and services for personal consumption make up the ________.

consumer market

_______ is the most basic determinant of a person's wants and behavior.

culture

Family is one of the ________ factors that influence consumer behavior.

social

"The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________."

business buying process

Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.

competitive advantage 

Business markets are similar to consumer markets in that ________.

both involve people who assume buying roles and make purchase decisions to satisfy needs

Analytical psychology 

Carl Jung, symbolism, archetypes, the unconscious mind 

Characteristics affecting consumer behavior: Cultural

culture, subculture, and social class

Characteristics affecting consumer behavior: Social

reference groups, family, roles and status

Characteristics affecting consumer behavior: Personal 

age + life, cycle stage, occupation, economic situation, lifestyle, personality and self-concept 

Characteristics affecting consumer behavior: Psychological

motivation, perception, learning, beliefs and attitudes

Market choice behavior

the choice to buy or not to buy, the choice of product type, the choice of brand

Groups and social networks: membership groups 

groups with direct influence and to which a person belongs 

Groups and social networks: aspirational groups

groups an individual wishes to belong to

Groups and social networks: reference groups

groups that form a comparison or reference in forming attitudes or behavior

B2B Marketing 

people marketing to people 

Business buyer behavior

refers to the buying behavior of the organizations that buy goods and services for use in production of other products + services that are sold, rented or supplied to others

Business buying process

several stages that companies go through when purchasing products or services

Business Markets: business structure and demand

fewer and larger buyers, geographic concentration, derived demand, inelastic demand, fluctuating demand, buyer and seller dependency

B2B frame of mind: different audience

your parents, multiple decision-makers, multiple roles, and large enterprise/mid-market

B2B frame of mind: Different addresses

mail room, screeners, delegation, HQ location/local office, mail, email, phone, web

B2B frame of mind: different offerings

things you’ve never bought, technical products and services, multi-location

B2B frame of mind: different time-frame

demonstration, proof of concept, technical review board, executive approval

straight rebuy 

routine purchase decision such as a reorder without any modification

modified rebuy

purchase decision that requires some research where the buyer wants to modify the product specification, price, terms, or suppliers

New task

purchase decision that requires thorough research such as a new product

Business buyer behavior: participants - Users 

those that will use the product or service 

Business buyer behavior: participants - influencers

help define specifications and provide info for evaluating alternatives

Business buyer behavior: participants - buyers

have formal authority to select the supplier and arrange terms of purchase

Business buyer behavior: participants - deciders

have formal or informal power to select and approve final supplier

Business buyer behavior: participants - gatekeepers

control the flow of information

the model of business buyer behavior: Environmental

economic developments, supply conditions, technological change, political and regulatory developments, culture and customs

the model of business buyer behavior: organizational 

objectives, policies, procedures, org structure

the model of business buyer behavior: Interpersonal

buying center, including influence, expertise, and authority

the model of business buyer behavior: Individual

age, education, job position, motives, personality, and buying style