Marketing
Ch.7: Describe the decisions companies make regarding their individual products and services, product lines, and product mixes. p.201-208
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Ch.7: Discuss branding strategy - the decisions companies make in building and managing their brands. p.215-223
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Ch.7: Identify the four characteristics that affect the marketing of services and the additional marketing considerations that services require. p.208-214
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2 important Qs in designing a customer-driven marketing strategy.
1) What customers will we serve (what's our target market)? 2) How can we serve these customers best (what's our value proposition)?
Describe Maslow's Need Hierarchy. Illustrate w/ a diagram if possible. (p.140)
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Diagram the five step Consumer Buyer's decision process. Explain all five steps. (p.142)
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Discuss the four factors that influence consumer buying behavior and describe each. (p.130)
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Does a brand have a personality? Discuss in detail. (p.138)
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EC: Define the discipline of marketing in as many ways as you can!
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How does the B. to B. (Business to Business) buying decision differ from the above B. to C. buying decision? (p.155)
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What is the value of social networks to B. to C. (Business to Consumer) companies? (p.133)
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What is the purpose and theme of chapter 5? Why did your authors devote a chapter in their textbook to introducing this subject?
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Ch.5: Understand the consumer market and the major factors that influence consumer by your behavior. p.128, 128-129, 129-142
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Ch.6: Define the major steps in designing a customer-driven marketing strategy: market segmentation, targeting, differentiation, and positioning. p.162-165
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Ch.6: Discuss how companies differentiate and position their products for maximum competitive advantage. p.182-189
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Ch.6: Explain how companies identify attractive market segments and choose a market-targeting strategy. p.174-182
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Ch.6: List and discuss the major bases for segmenting consumer and business markets. p.165-174
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Ch.7: Define products and the major classifications of products and services. p.196-201
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Ch. 1: Identify the five core marketplace concepts. (Understanding the Marketplace and Customer Needs p.6-8)
(1) Needs, wants, and demands; (2) Market offerings (products, services, and experiences); (3) Exchanges and relationships; (5) Markets
Ch. 1: ID the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. (Designing a Customer-Driven Marketing Strategy p.9-12; Preparing an Integrated Marketing Plan and Program p.12-13)
-Market segmentation and target marketing -Differentiation and positioning through value proposition Concepts: 1) Production, 2) Product, 3) Selling, 4) Marketing, 5) Societal Marketing
Ch.2: Describe the elements of a customer-driven marketing strategy and mix and the forces that influence it. (p.48-54)
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Ch.2: Discuss how to design business portfolios and develop growth strategies. (p.41-46)
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Ch.2: Explain company-wide strategic planning and its four steps. (p.38-41)
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Ch.2: Explain marketing's role in strategic planning and how marketing works with its partners to create and deliver customer value. (p.46-48)
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Ch.2: List the marketing management functions, including the elements of a marketing plan, and discussed the importance of measuring and managing return on marketing investment. (p.54-58; 58-59)
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Ch.4: Define the marketing information system and discuss its parts. p.97-98; 98-100
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Ch.4: Discuss the special issues some marketing researchers face, including public-policy and ethics issues. p.117-121
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Ch.4: Explain how companies analyze and use marketing information. p.115-117
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Ch.4: Explain the importance of information in gaining insights about the marketplace and customers. p.96-97
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Ch.4: Outline the steps in the marketing research process. p.100-115
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Ch.5: Define the business market and identify the major factors that influence business buyer behavior. p.147, 148-149, 149-154
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Ch.5: Describe the adoption and diffusion process for new products. p.145-147
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Ch.5: Identify and discuss the stages in the buyer decision process. p.142-145
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Ch.5: List and define the steps in the business buying decision process. p.154-156, 156-157
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Ch. 1: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return. (Building Customer Relationships p.13-20; Capturing Value from Customers p.20-23)
Def: overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. ***Customer perceived value & Customer satisfaction. Creating: frequency marketing programs, club marketing programs, customer-managed relationships, consumer-generated marketing, partner relationship management. Capturing: customer loyalty & retention, share of customer, customer equity.
Ch. 1: Define marketing and outline the steps in the marketing process? (What is marketing? p.4-6)
Marketing: the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Steps: (1) Understand the marketplace and customer needs and wants, (2) Design a customer-driven marketing strategy, (3) Construct an integrated marketing program that delivers superior value, (4) Build profitable relationships and create customer delight, (5) Capture value from customers to create profits and customer equity.
Ch. 1: Describe the major trends and forces that are changing the marketing landscape in this age of relationships. (The Changing Marketing Landscape p.23-29)
The changing economic environment, the digital age, the growth of not-for-profit marketing, rapid globalization, sustainable marketing practices (social responsibility).
