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