Organizational Market Segmentation and Branding

This set of flashcards covers key concepts from the lecture on organizational market segmentation, branding, business models, and distribution strategies.

What is the key focus of organizational market segmentation?

Selling directly to organizations such as businesses and government units.

What is one characteristic that differentiates organizational markets from consumer markets?

Fewer and larger buyers.

What does derived and fluctuating demand refer to in organizational markets?

The demand for a product is influenced by the demand for the organization's own products.

Name one type of buying situation in organizational markets.

Straight Rebuy.

What is a key factor in minimizing the risk of purchase for organizations?

Implementing procedures to ensure access to sufficient information about potential suppliers.

What does the buying process start with in organizational markets?

Problem Recognition.

What are the four P's of marketing?

Product, Price, Place, and Promotions.

What is a business model?

It refers to the mode by which product concepts seek to make money and sustain operation.

Give an example of an alternative revenue generation method.

Sponsorship.

What are the components of an effective business plan?

Statement of opportunity, environmental analysis, market estimates, competitive analysis, business strategy, risk analysis, and financial forecasts.

What is branding?

A mark of distinction used to identify and distinguish goods or services of one provider from another.

Name a function of a brand.

It identifies the product or services.

What are the elements of a brand?

Trade name, logo, tagline, visual cues, shapes, colors, sounds, scents, and tastes.

What should a brand logo aim for according to graphic design guidelines?

Simplicity and clarity.

List one level of meaning that a brand can have.

Attributes of the product.

What is the first step in developing a brand?

Develop the Brand Strategy.

What role do distributors play in distribution channels?

They gather information about customers and communicate and promote products.

What are the identified types of distribution channels?

On-trade channels, Off-trade channels, and Duty-free channels.

What should price policies include regarding distribution?

Suggested retail prices and distributor prices.

What service issues affect the design of a distribution system?

Lot size, waiting time, location, variety, and add-on services.