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