comm 313 quiz 2
types of market segmentation
-behavioristic -geographic -demographic -psychographic
types of markets
-consumer -business -government -transnational
types of customers
-current -prospective -centers of influence
key participants in marketing process
-customers -markets -marketers
interpersonal influences
-family -society -culture
elaboration likelihood model central route
-higher involvement with product or message
market segmentation
-identifying groups of people -aggregating groups
elaboration likelihood model peripheral route
-lower involvement with product or message
key factors influencing price
-market demand -product and distribution costs -competition -corporate objectives and strategies -variable influences
developing an IMC budget
-percentage of sales method -share of market -objective/task method
consumer decision process
-personal processes govern the way we discern raw sensory info and translate it into feelings -then the mental processes are affected by influences -responding to the influences and then evaluation -then post-purchase evaluation
gathering info through research (3 Rs)
-recruiting -retaining -regaining
non personal influences
-time -place -environment
IMC Pyramid
1 (bottom): awareness 2: comprehension 3: conviction 4: desire 5 (top): action
elements of a marketing plan
1) mission statement 2) situation analysis 3) marketing objectives 4) marketing strategy 5) tactics implemented 6) evaluation of marketing efforts 7) budget proposal
Steps in the Research Process
Step 1: Analyzing the situation and defining the problem step 2: conducting informal research step 3: establishing research objectives step 4: conducting primary research
distribution element
before the message is created the place must be decided
Perception
customers attitudes, awareness, interest in the brands product
satisfaction
occur everytime customers use the products or people won't think they got an equal-value exchange
target market process
the company designates one or more segments as a target marketer that group of segments the company wishes to appeal to, design products for, and tailor its marketing activities toward
price element
the marketing mix costs influences consumer perceptions of the brand dramatically
exchange
theoretical core of marketing -buyers do it to acquire things -sellers do it to grow their businesses for profit
IMC research
uncovers the info needed for IMC decisions