Marketing Cheet Sheet

Strategic planning: defining company mission, setting objectives, designing business portfolio, planning marketing. Marketing strategy: analysis, planning, implementation, control/product, price, place, promotion/positioning, segmentation, targeting, differentiation/customer value and relationships. Four Cs: customer cost, solution, convenience, communication. Plan, implement, control. Microenvironment: the company, suppliers, marketing intermediaries, competitors, publics, customers. Macroenvironment: demographic forces, economic, natural, technological, political, cultural (view others, themselves, organizations, society). Consumer behaviour: Culture: culture, subculture, social class Social: reference groups, family, status Personal: age, economic, lifestyle, personality, occupation Psychological: motivation, perception, learning, beliefs Buyer. Needs: physiological (hunger, thirst), safety (security), social (sense of belonging, love), esteem (status), self-actualization (self development). Buyer decision: need recognition, information search, evaluation of alternatives, purchase decision, post purchase behaviour. Adaptation: innovators (2.5), early adaptors (13.5), early majority (34), late majority (34), laggards (16). Stages: awareness, interest, evaluation, trial, adoption. Rate: compatibility, complexity, divisibility, communicability. Business buying environment: marketing stimuli: product, price, place, promotion Other: economic, technological, political, cultural, competitive. Straight rebuy: buy again routinely. Modified rebuy: modify in terms of specifications, prices, terms or suppliers. Major influences: environmental, organizational, interpersonal, individual, buyers. Stages: problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order routine specification, performance review. Marketing research process: defining the problem and research objective, developing plan for collecting info, implementing research plan by collecting and analyzing data, interpret and report findings. Buyer responses: product or service choice, supplier choice, order quantities, delivery terms and times, service terms, payment. Value: segmentation, targeting, differentiation, positioning. Segmentation: geographic, demo (age, gender, income), psycho (lifestyle, social class), behavioural (occasions and benefit sought). Market segments: measurable, accessible, substantial, differentiable, actionable. Market targeting: un-dif (mass, ignore market segment and goes after whole markets), dif (segmented, target several market segments), concentrated (niche, firm goes after a large share of one or a few segments), micro (tailored products). Differences: important, distinctive, superior, communicable, preemptive, affordable, profitable. Positioning statement: to (target and need) our (brand) is (concept) that (point of differences). Primary data: observational, experimental, contact. CRM. Consumer’s perspective: (pre: how does a consumer decide that he or she needs a product?, purchase: is acquring a product stressful or pleasant? post: does the product provide pleasure or its intended function?) Marketer’s perspective: (pre: how are consumer attitudes toward products formed an changed? purchase: how do situational factors such as time pressure or store displays affect the consumer’s purchase decisions? post: what determine whether a consumer is satisfied with a product and whether he or she will buy again?)