Principles Of Marketing AT

Proximity marketing

________- is an interesting new technology firms are using to segment buyers geographically and target them within a few hundred feet of their businesses using wireless technology.

Defines consumer groups

________ according to demographic variables such as age, sex, income, occupation, education, household /family size and stage in the family lifecycle, religion, nationality and race.

Threats

________ are obstacles that may hinder a company or limit its capabilities to achieve its goal.

channel partners

Motivating the ________, namely, dealer, distributors, retailers who are in the actual market to provide the relevant and necessary information about the customers and the competitors.

tangible good

A product can be either a(n) ________ or an intangible service that fulfills a need or want ofconsumers.

PSYCHOGRAPHIC SEGMENTATION

________- this refers to how consumers see and feel about themselves hence psycho or "of the mind.

PRICE

________ is the money, good and service exchanged for the ownership or use of a good and /or service.

Emergency

________ goods- refer to those products customers purchase during ________ Examples are batteries, sanitary napkins or an umbrella- in case of unexpected heavy rain Impulse goods- those unplanned product purchases like playing cards, chewing gums, razors, and chocolates.

GISs

________ simplify the job of analyzing marketing information by relating data to their locations.

City size

________- Many products sell well in urban areas and poorly in suburban or rural ones, and vice versa.

raw materials

They refer to the various resources that the company has such as capital, manpower, equipment, ________, and a good method or system of doing things.

Gender

________ is an obvious variable that help define the market for certain products like lipstick for women and facial shaving products for men.

Installations

________- consists of buildings and land, and major equipment like tractors, printing machines, and generators.

Population density

________- the number of people per square mile.

similar characteristics

It segments customers and audiences into groups that share ________ such as demographics, interests, needs, or location.

Growth

________: If the product is successful, it then moves to the ________ stage.

Penetration pricing strategy

________- involves setting low initial price for new products offered in the market.

C Bundle pricing strategy

________- involves setting one price for a set of complimentary products.

Label

________- part of a product package that contains information about the product that target what customers need to know, like the ingredients used to produce the product, the instructions for use, safety information, or precautions in the case of chemicals, medicines, and toys.

Idea Generation

________- initial stage wherein those involved determine the new product to be offered to the market, which begins by gathering ideas through brainstorming.

Parts and Materials

________- products that become a part or component of a finished product Examples include paper used by publishing companies to produce books, magazines or newspapers.

Price determinations

________ will impact profit margins, supply, demand and marketing strategy.

B Accessory equipment

________- products used by businesses necessary for their operation, but not as part of the finished products Examples are computers, cash register machines.

D Geographical pricing strategy

________- involves setting price differently in different locations.

Decision Support System

4 Marketing ________ It includes several software programs that can be used by the marketers to analyze the data, collected so far, to t You sent 4 Marketing ________ It includes several software programs that can be used by the marketers to analyze the data, collected so far, to take better marketing decisions With the use of computers, the marking managers can save the huge data in a tabular form and can apply statistical programs to analyze the data and make the decisions in line with the findings.

level of expenditures

Price determines the ________ of the market.

Test Marketing

________ is done in order for the company to know product acceptability of the market before going to full commercialization.

GEOGRAPHIC SEGMENTAION

________- it requires dividing the market into different geographical units like nations, regions, provinces, cities, towns or barangays.

Loyalty Status

________- Buyers may also be grouped according to their loyalty to particular brands They may be classified as follows.

concept of product life cycle

The ________ helps inform business decision- making.

Premium pricing strategy

________- involves setting high price to products with high quality b.

Internal Records

________: The Company can collect information through its ________ comprising of sales data.customer database, product database, financial data, operations data, etc.

GEOGRAPHIC INFORMATION SYSTEM

________- Once used in military, (GISS) are computer systems that assemble, store, manipulate, and display data by their location.

Psychographic data

________ is not captured by the National Statistics Office, so the way to determine how many people fit into a particular psychographic profile is generally through primary research methods such as survey Psychographic Segmentation can be segmented in societal division, lifestyle, and personality.

Services

________- include legal assistance, auditing services management consulting, and services of advertising agencies that are normally provided by other business groups.

Raw materials

________- consists of products necessary to produce another products For instance, potatoes, sall, and cooking oil are raw material for a company that produces chips such as Piattos and Lays.

-Segmenting by Age

As with gender, age seems an easy distinction to make baby foods for babies, retirement communities for seniors

-Segmenting by Family Size

It is determined by the number of family members

Purchase Occasion

It calls for grouping of buyers according to occasion when they get the idea, make a purchase, or use a product

Benefit Sought

Consumer seek various benefits in the products they buy-high quality, low price

-In other reference, user status may be classified namely

(1) Non-users

Loyalty Status

Buyers may also be grouped according to their loyalty to particular brands They may be classified as follows

Readiness Stage

This may be categorized into the following stages

Attitude Towards Product

This may be classified according to their "degree of enthusiasm."

Region

people in one region of the country (or the world) have needs, wants, and purchasing habits that differ from those in other region

Climate

People in Sun Belt states, for example may buy suntan lotions

Canadian buyequipment for dealing with snow and ice

products many Floridians have never seen in stores

City size

Many products sell well in urban areas and poorly in suburban or rural ones, and vice versa

Population density

the number of people per square mile

Proximity marketing

is an interesting new technology firms are using to segment buyers geographically and target them within a few hundred feet of their businesses using wireless technology

09

19 You sent MARKETING INFORMATION SYSTEM (MKIS)

Internal Records

The Company can collect information through its internal records comprising of sales data.customer database, product database, financial data, operations data, etc

is saved "Product Database

wherein the complete information about the product's price, features, variants, is stored

Products may be classified into two categories

(1) Consumer goods and (2) industrial goods

11

46 You sent STEPS IN PRODUCT DEVELOPMENT

Idea Generation

initial stage wherein those involved determine the new product to be offered to the market, which begins by gathering ideas through brainstorming

2 Idea Screening

ideas gathered are screened and evaluated

Business Analysis

analysis of the general situation of a company

Strengths

are known as Internal Positive

Weaknesses

are known as Internal Negative

C. Opportunities

are recognized as External Positive

7 Product Development

the stage where actual production of the product is done

9 Full Commercialization

full-scale production and distribution are achieved at this stage

Growth

If the product is successful, it then moves to the growth stage

Convenience Products

are products which are purchased frequently, and immediately and with minimum efforts because these products are available anywhere and anytime

For example

major appliances, clothing, furniture cars, etc

3 Specialty Products

products that have brand identification or unique characteristics are known as specialty products

Unsought Products

consumer products that are either not known to the consumers are known, customers generally do not have compelling impulse to buy them products For example-Life insurance, blood donation, etc

INDUSTRIAL PRODUCTS

are products that are purchased for further processing or for use business in operating a

Raw materials

consists of products necessary to produce another products For instance, potatoes, sall, and cooking oil are raw material for a company that produces chips such as Piattos and Lays

Parts and Materials

products that become a part or component of a finished product Examples include paper used by publishing companies to produce books, magazines or newspapers

Installations

consists of buildings and land, and major equipment like tractors, printing machines, and generators

b. Accessory equipment

products used by businesses necessary for their operation, but not as part of the finished products Examples are computers, cash register machines

b Services

include legal assistance, auditing services management consulting, and services of advertising agencies that are normally provided by other business groups

Package

refers to the container used by the company to design, package color and packaging materials to be used protect

Package

refers to the container used by the company to design, package color and packaging materials to be used protect

Label

part of a product package that contains information about the product that target what customers need to know, like the ingredients used to produce the product, the instructions for use, safety information, or precautions in the case of chemicals, medicines, and toys

Premium pricing strategy

involves setting high price to products with high quality b

Economy pricing strategy

involves setting the price low because the product is of low quality

Penetration pricing strategy

involves setting low initial price for new products offered in the market

Market skimming pricing strategy

involves setting high initial price for a product or services offered

c. Bundle pricing strategy

involves setting one price for a set of complimentary products

d. Geographical pricing strategy

involves setting price differently in different locations

*Zoning pricing

the seller set up zones where markets within the zone pay the same price for the products

The farther the distance of the market from the seller's zone, the higher will be the product price *Freight absorption pricing

sellers shoulder part, if not, the entire cost of the freight

COMPANIES CUT PRICE WHEN

*There is excess capacity *There is continuous decrease in market share *Competitors lower their price offering and other companies believe that it is advantageous to their companies to follow the price decrease *Company desires to regain lost market share and gain more customers *Company is anticipating new product model or design