MARK Test 2
5 functions of packaging
-contain and protect -promote -facilitate storage, use, and convenience -facilitate recycling -provide information
5 steps of the research process
1. Defining the objectives and research needs 2. Designing the research 3. Data collection process 4. Analyzing data and developing insights 5. Action plan and implementation
6 components that make a brand?
1. brand name 2. URLs 3. Logos and Symbols 4. Characters 4. Slogans 5. Jingles/Sounds
5 Reasons why firms create new products
1. changing customer needs 2. market saturation 3. managing risk through diversity 4. fashion cycles 5. improving business relationships
6 steps of developing new products
1. idea generation 2. concept testing 3. product development 4. market testing 5. product launch 6. evaluation of results
what are two issues with surveys?
1. interviewer bias 2. consumer unwillingness to participate
4 types of questions to avoid
1. leading 2. double barreled 3. jargon or inappropriate terminology 4. consumer unable to answer
5 survey methods
1. telephone interviews 2. mail surveys 3. internet surveys 4. mall intercept interviews 5. in-person interviews
What information is needed to answer specific research questions? How should that information be obtained?
Defining Objectives and Research needs
type of data: secondary vs primary type of research: qualitative vs quantitiative
Designing the research
many people were not used to the way a digital camera operated and this affected their product diffusion by
complexity and trialability
Testing the new product idea among a set of potential customers
concept testing
using a brief written description of a product to gauge customer reactions and determine whether a product goes forward and triggers the marketing research process
concept testing
type of product where consumer is willing to spend minimum effort to evaluate prior to purchase
convenience
type of product? can goods, shampoo, candy
convenience
what are the 3 expansions added to the traditional 4p's of marketing? what are the original 4?
customer surrounded by product, place, promotion, and price processes, physical evidence, people
sources of internal secondary data
data warehouse data mining
-long-run drop in sales -large inventories of unsold items -elimination of all nonessential marketing expenses -organized abandonment
decline stage
increase/decrease in product depth/breadth? due to competitive changes, TCBY is now focusing on Yogurt
decrease breadth
increase/decrease in product depth/breadth? McCormick spices eliminates dozens of products each year
decrease depth
employee does not perform correctly hire well, train, monitor, and reward
delivery gap
number of categories within a product line
depth
performed with care
empathy
analysis of the performance of the new product and making appropriate modifications
evaluation of results
5 steps in the action plan and implementation phase
executive summary body conclusions limitations supplements including tables, figures, appendices
changing a variable and analyzing results usually change one of 4ps and look at either sales or awareness field or lab
experiments
Value of Branding for the Customer
facilitate purchasing establish loyalty protect from competition reduce marketing costs are assets impact market value
a firm's own corporate name used to brand its product lines and products example- GE
family brand
2 types of product lines
family brand individual brand
2 types of unstructured questions
fill in the blank projective technique
group of 8-12 consumers discuss 1 topic facilitation by trained moderator
focus groups
sources of external secondary data
government sources census syndicated data
product life cycle: increasing rate of sales entrance competitors market consolidation initial healthy profits aggressive advertising of differences between brands wider distribution
growth stage
different from time to time technology/automation training and scripts
heterogeneous
development of viable new products
idea generation
using customer input, internal R&D, R&D consortia, licensing, brainstorming, outsourcing, and competitor's products as the source of ideas
idea generation
limited number somewhat unstructured time consuming and costly
in-depth interviews
increase/decrease in product depth/breadth? true religion brand jeans now are a lifestyle brand with apparels, belts, swimwear and fragrances
increase breadth
increase/decrease in product depth/breadth? band-aid now has over 40 products to heal cuts
increase depth
ways to extend time in the PLC?
increase frequency of use increase number of users find new uses
the use of individual brand names for each of a firm's products ex - Mr. Clean (Proctor and Gamble)
individual brands
what are the 5 types of adopters in diffusion of innovation?
innovators early adopters early majority late majority laggards
when a product is produced at the same time it is consumed
inseparable
production and consumption are simultaneous cannot inspect out defects defects ahead of time consumer is part of service lower risk by offering guarantees or warranties
inseparable production and consumption
services cannot be seen, touched, tasted, felt, or stored requires cues to make more tangible (atmosphere/images)
intangible
the 4 factors that differentiate services from goods
intangible heterogeneous perishable inseparable
4 stages in product life cycle?
introduction, growth, maturity, decline
product life cycle: high failure rates little competition frequent product modification limited distribution high marketing and production costs negative profits with slow sales increases promotion focuses on awareness and information communication challenge is to stimulate primary demand
introductory stage
use research to understand consumers' needs do not assume customers are happy what customer wants vs what manager thinks they want
knowledge gap
what are the gaps on the gaps model for providing great service?
knowledge gap, standards gap, delivery gap, communication gap
2 types of structured questions
likert scale semantic differential
the use of the same brand name within the same product line and represents an increase in product line'd depth
line extension
3 ways to increase service recovery
listen to the customer resolve problems quickly provide a fair solution
brands owned and managed by the manufacturer
manufacturer brands
2 types of brand ownership
manufacturer brands (national brands) private-label brands/ store brands
testing the actual products in a few test markets
market testing
anticipating and determining the needs/wants of consumers and satisfying those needs through the use of the 4p's to create long term exchanges of value
marketing
product life cycle: sales increase at decreasing rate saturated markets annual models appear lengthened product lines service and repair assume important roles heavy promotions to consumers and dealers marginal competitors drop out niche markets
maturity stage
a blender video allows customers to see the product in action and would affect product diffusion as
observability
manual, mechanical, ethnographic
observation research
which of the expanded 4p's? employees, the customer, and other customers all influence quality of experience
people
services can not be produced ahead of time stored If not consumed, revenue potential is lost must carefully manage supply and demand
perishable
which of the expanded 4'ps? the tangible part of the service the "Servicescape"
physical evidence
which adjusted original 4'ps of marketing is this describing? generally no intermediaries convenience is important
place
type of market testing that takes place in a laboratory where customers are exposed, surveyed, and firm makes a decision
premarket tests
2 types of market testing
premarket tests and test marketing
4 types of private label/store brands
premium, generic, copycat, exclusive co-brand
which adjusted original 4'ps of marketing is this describing? prices are harder to set and justify to customers for many services use price to adjust demand to supply
price
data collected specifically for this research creating new information
primary data
provides initial information generally in-depth and unstructured includes: observation, in-depth interviews, focus groups, social media research
primary data collection
the packaging the consumer uses, such as the toothpaste tube, from which he or she typically seeks convenience in terms of storage, use, and consumption
primary package
brands developed and marketed by a retailer and available only from that retailer; also called store brands
private-label brands
activities which lead up to and are a part of the service
processes
anything that is of value to a consumer and can be offered through a voluntary marketing exchange includes goods, services, places, ideas, organizations, people, and communities
product
which adjusted original 4'ps of marketing is this describing? emphasize the service process build brand image
product
development of prototypes and/or the product
product development
full scale commercialization of the product
product launch
length varies, but pattern is similar is descriptive, not predictive best for product categories not trends
product life cycle
most products follow a similar pattern of growth/decline known as?
product life cycle
a group of related products all marketed under a single brandname that is sold by the same company example - Kellogg's Corn Flakes
product line brands
focus on making services seem tangible slogans/logos share good performance ratings
promotion
New Product Marketing Mix
promotion, price, place
3 Steps of Product development
prototype, alpha testing, beta testing
large numbers of respondents statistically valid can generalize
quantitative research
a microwave oven allows for quick meals and is much faster than an oven. How might this affect product diffusion
relative advantage
4 factors affecting product diffusion
relative advantage, compatibility, observability, complexity and trialability
performed correctly
reliability
How consumers view service quality- 5 dimensions of quality
reliability, responsiveness, assurance, empathy, tangibles
performed on time
responsiveness
products developed by retailers. Also called private label brands
retailer/store brands
when evaluating product results you would look at?
satisfaction of technical requirements, customer acceptance, and satisfaction of the firm's financial requirements
pieces of information collected prior to this research project "looking things up"
secondary data
the wrapper or exterior carton that contains the primary package and provides the UPC label used by retail scanners; can contain additional product information that may not be available on the primary package
secondary package
how should questions be ordered in a survey?
sensitive, personal questions at end more difficult questions at end
type of product that consumers will spend a fair amount of time comparing alternatives
shopping
type of product? clothing/shoes, fragrances, cellphones
shopping
monitoring blogs online communities sentiment mining
social media research
type of product that consumers show such a strong preference that they will expend considerable effort to search
specialty
type of product? wedding gowns, house, antiques
specialty
4 types of products?
specialty, shopping, convenience, unsought
establish policies, performance standards based upon consumer needs educate employees manager did not convey what's supposed to be done
standards gap
type of question where choices are provided
structured
ACNeilson - tracks CPGs at point of sale - scanner data JD Powers - customer satisfaction data
syndicated data
performed in a nice environment
tangibles
type of market testing that takes place in a whole city where there is a mini product launch and demand is estimated
test marketing
which is more expensive test marketing or premarket tests
test marketing
3 questionnaire issues
types of questions ordering of questions wording of questions
type of product where consumers either do not normally think of buying or do not know about
unsought
type of product? fire extinguishers, life insurance, medical supplies
unsought
2 types of questions
unstructured structured
3 sampling issues for primary data
who is the population? what will be used for the sampling frame? what type of sample will be used?
this act protects brand names
Lanham Act
because vacuums are not high in demand in Japan it affects product diffusion through
compatibility
when someone in the company takes a product home to try
alpha testing
what is a service?
an intangible offering that involves a deed, performance, or effort that cannot be physically possessed
converting data into information to explain, predict and/or evaluate a particular situation
analyzing data and developing insights
the ability of employees to convey trust and confidence performed "like you know what you are doing"
assurance
when actual customers are given products to try
beta testing
4 components of brand equity
brand awareness, perceived value, brand associations, brand loyalty
occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold
brand dilution
the use of the same brand name for new products being introduced to the same or new markets
brand extension
the video about trump ties, jeep clothes, and dora perfume what demonstrating what?
brand extensions
a contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee
brand licensing
because of this... consumers are often less sensitive to price marketing costs are lower and the firm is insulated from the competition
brand loyalty
a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences
brand repositioning
special k going from "pinch an inch"--> "bathing suit ready" --> "eat special, feel special" and weight watchers --> my WW examples of what?
brand repositioning
number of product lines
breadth
Taco Bell + Pizza Hut buildings oreo ice-cream examples of what?
co-branding
the practice of marketing two or more brands together, on the same package or promotion
co-branding
commercials, comments from sales people must reflect actual service didn't get what expected
communication gap