Chapter 1 to 5 Marketing
Chapter 1 to 5 Marketing B216
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This 9 page Study Guide was uploaded by KUMIKO Notetaker on Wednesday October 7, 2015. The Study Guide belongs to B216 at Republic Polytechnic taught by Gerrard Ong in Summer 2015. Since its upload, it has received 67 views. For similar materials see Marketing in Social Science at Republic Polytechnic.
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Date Created: 10/07/15
Study Guide from Chapter 1 to 5 Chapter 1 Marketing Marketing concept Market gt Customer needs gt Integrated marketing gt Pro ts through customer satisfaction 6 Key Functions 1 Design and Production 0 Labour Cap al Energy 0 Materials 0 Information 2 Finance 3 Human Resources 4 Sales and Marketing 0 Marketing department Sales department 5 Administrations 6 Research and Development Maslow39s Hierarchy of Needs lela39llllmi39 5 Hierarchy of Emilia lirigillza il fifthshim quotWillem Edi1 man station lieI mini momill mall mm Illlellll Ei t i irtd5 Elflllli t39tllit39lil Malina Larjmulnt lw mpulnl m Eirilmrgmgu m l I of r IlliW lill39ii Ea1ul39n ailum lLil ll Ilhlllli39 39wnll gamut El iiimm limb pi Merriam security min law lillllJIFL EditingI ell 39Hlinlogiml mill I lly ullngltj um Liam life nearly rm fowl unk Fll lllli39 gt39flllilillll Still they Elli Characteristics of 8 levels of Hierarchy Needs 1 Biological and Physiological Needs 0 Air food drink shelter warmth sex sleep etc 2 Safety Needs 0 Protection from elements security order law limits stability etc 3 Belongingness and Love Needs 0 Work group family affection relationships etc 4 Esteem Needs U1 1 00 o Selfesteem achievement mastery independence status dominance prestige managerial responsibility etc Cognitive Needs 0 Knowledge meaning etc Aesthetic Needs 0 Appreciation and search for beauty balance form etc SelfActualization Needs 0 Realising personal potential selfful lment seeking personal growth and peak experiences Transcendence Needs 0 Helping others to achieve selfactualization Consumer Behaviour BZC 5 stages of consumer behaviour U39lIgtLJIJII I Problem Recognition Information Search Alternative Evaluation Purchase Decision PostPurchase Behaviour Involvement 1 2 High Involvement Purchase Expensive Rislq Purchased infrequently Highly self expressive Gather information about the products Evaluate the alternatives before purchase Low Involvement Purchase Low cost Frequently purchased Do not search extensively for information Do not evaluate the alternatives before purchase Business Buying Process BZB 8 stages of business buying process mNOWU39lbUJNH Problem Recognition General Need Description Product Speci cation Supplier Search Proposal Solicitation Supplier Selection OrderRoutine Speci cation Performance Review Differences between B2B and B2C 828 More stages 8 stages More participants More formalised contract BZC Fewer stages 5 stages Fewer participants Less formalised Process duration is longer Large value for each purchase size Longer time taken for information search Chapter 2 Marketing Environment Process duration is shorter Smaller value for each purchase size Shorter time taken for information search 1 Macroenvironment external and uncontrollable PESTLE Political Economic Sociocultural Technology Legal Environmental nature fDQ O39QJ 1 Microenvironment within the rm39s control a lnternal environmental The company b External environmental Suppliers Competitors PubHcs Customers SWOT Analysis 1 Strengths S 2 Weaknesses W 3 Opportunities 0 4 Threats T SWOT analysis matrix Strengths Opportunities lnternal External Forces Forces Develop to 50 Strategy ST Strategy Concept Diagram Marketing intermediaries Weaknesses Threats WO Strategy WT Strategy Strengths Weaknesses Opmmu so w0 quot lnities Strategy Strategy I L 1 M gull I Socio cultural Threats Fhrealm ST WT Strategy Strategy Chapter 3 Marketing Research Marketing research process 1 De ning the Problem and Research Objectives Types of research 0 Exploratory Research To gather preliminary information that will help de ne problem and suggest hypotheses 0 Descriptive Research To better describe things such as market potential for a product 0 Causal Research To test hypothesis about cause and effect relationships 1 Developing the Research Plan Sources of Data 0 Primary collected or observed directly from rsthand experience such as observations focus groups or surveys 0 Secondary collected for another purpose by people other than the researcher in question such as censuses or organization records Research Methods 0 Qualitative 0 Quantitative Eriterie uelitetiee Reeeereh uentliltetiee ITFieeeer eh Definitiee It pretridee Engight inte the It Seekete quantify the data and pereeptiene ettitutllee beliefs typieelllle eeplies eeme ferm ef end behaeieur ef peeele Stetietitel eeelyeie l abjectiee Te gain e quellitewe Te euemifrlr the deta and genesrellise the understanding ef the underlying results frem the sample te the reesene and metleetleee eeeuletien eff intereat Sample Small number Large number Date enlelveie MenStetletleel Stetleteel Eire mlplee Fe cue Ereup StuEly Sullr39lr39erlr I39Fteeeereh instrument erred Reeeereh leetrement ueed Dieeueeien Guide ueetiennelrel Contact Methods 0 Ma il 0 Telephone 0 Personal Individualgroup 0 Online Criteria 7 Telllepahlene F ereene Fienil eilityr Peer Geed Eeeel Ieet Eeee Eentrel en interviewer i Eeeellent Fellr Peer Illlight Eentrei ef Eernlie Fair Excellent Seed Excellent Speed ef Deter Peer Eeeelleet Geeel Excellent Ealllectfen Heepeslnee Hate Peer Peer Eeeel Greed Eel5t Geeel Fellr39 Per IErreelllent Sampling Plan 0 Sampling Unit Who is to be surveyed 0 Sample Size How many people should be surveyed 0 Sampling Procedure How should the people in the sample be chosen Probability OR Nonprobability Research Instruments 0 Questionnaires a productive tool listing questions for obtaining information which used for survey research 0 Discussion Guides A written outline of topics to cover during a focus group discussion which has used mostly openended questions for Focus Group Study 0 Mechanical Instruments Include cameras Biopac Eye tracker etc Implementing the Research Plan Personnel and Materials Time Scheduling Cost Estimates Tabulation Plans Field Work 0 Data Processing and Analysis Interpreting and Reporting the Findings OOOOO Questionnaire Questionnaire Sections 0 Introduction To introduce the purpose of the study Screener To allow us to select the respondents that meet the criteria 0 Core To allow us to gather information to meet the research purpose 0 Classi cation To allow us to classify the respondents within different categories Questionnaire Design Closedended Allows respondent to choose one of the two or more oonns Openended Allows respondent to elaborate on their attitudes towards the given subject Partially openended Gives some options but also allows the respondent to express in hisher own words of the options are not exhaustive Rating scale The respondent is asked to rate an issue on a scale that ranges from poor to good Likert scale Help to ascertain how strongly the respondent agrees with a particular statement Clarity Leading question Phrasing Embarrassing question Hypothetical question uidelines ulnf t 5 quotC 1le F Flnjll if New Market Research Methods and Techniques Shift from data collection to data analysis Shift from quothow do you think you will behavequot to quotI know how you behaved Mobile market research methods Biometric market research techniques Prediction markets Virtual shopping Live audience response Online collaboration tools 0 Social media market research QR code surveys Qhapter 4 Segmentation Variables 1 Geographic Variables Regions city size population density or climate 2 Demographic Variables Age gender income level household size family size family life cycle occupation education religion race generation or nationality 3 Psychographic Variables Lifestyle activities interests opinions values personality or social class 4 Behavioural Variables Occasions bene ts sought user status usage rate brand loyalty readiness or attitude towards the product Target Market Selection o Is the segment large enough to support the marketer39s objectives o Is the segment showing signs of growth o Is the segment structurally attractive Is the segment compatible with the company39s objectives and resources Writing Targeting and Positioning Statement 0 Who should be targeted for brand use 0 When should the brand be considered 0 Why should the brand be chosen over other alternatives in the competitive set 0 How will choosing the brand help the target accomplish his or her goals Characteristics of Business Markets 0 Market structure and demand 0 Nature of the buying unit Types of decisions and the decision process Segmentation for 323 Markets 1 Segmentation by demographic characteristics 2 Segmentation by customer type 3 Segmentation by enduse application 4 Segmentation by purchase categories Segmentation for 32C Markets 1 Identify segmentation variables 2 Develop pro les of resulting segments 3 Develop criteria for target selection 0 Segment size percentage 0 Segment growth trend or potential rise or fall 0 Segment structural attractiveness Segment compatibility with company39s objectives and resources 4 Select the target segments 5 Develop positioning for each segment 0 Identify a differentiator Choose the right competitive advantage 0 Develop positioning using perceptual map 0 Develop a positioning statement 6 Communicate positioning for each segment 0 General positioning statement To segment brand is concept that differentiator Link differentiator to target39s goal f Ibut Iii IIE Thwart IM Imw email humre 1 Demand is derived thanquot mneum r demand ID39EMFI ndl lie direct linen1 ban5mm j TEEeman in many hueimen market is mere Elem Hill is mere Elastic die the many alternative j iineileetiie linet ei eetieell as mueh in the ehenrt mun prediuete in meeket neiee h E 1 Demand fluctuates mane and men elru39ielelv lLeee flluetuetinnne in demand Nature selfquot the Buying Lil39niiri i Minna elaeieiein peimieipante lLeee deei eien participants 1 Minn pnefeeeinnieil pu relheieing39 Eeeuinl amen mneple buying dieeieieine lilal39i39enne eteeii htiieir39wair l Minn fenmaliizie lLeee quotEternal l rewwuele nlt siiiie Weirhueermeeeller ril39et iemehie b weenheeetend seller Chapter 5 Product Life Cycle PLC 1 Introduction stage Consumers are Innovators 2 Growth stage Consumers are Early Adopters 3 Maturity stage Consumers are Early Majority and Late Majority 4 Decline stage Consumers are Laggards Stages ef Product llife Cycle Stages vef PLC intimduetien 391 Maturity Decline Lew ealee Peel sales Declining sales High eeet per merageeeetgperv Lew ten per Lew eeet per ieummier 39 39 euetnmer euetemer quotEilejI39iE j quot lllgh F refiie Deelining peeing ll Middle rnejierity Leggertle In 39lFEEDFS Few Stable number Declining number 39 beginningi Characteristics de ne V Create Predeet leiail iiimis e I Maximise Prefit Reduce Awereneeeend BeliefMd Market expenditure Trial Share 39l Milk the prudent 39 ffei39 a llaaeil 39 Dieereif e brenel d Phase euit week predluet u a and madeI5 iteme 3 39 SEWquot Patent 39 Imereee nu elite quot Seek werequot in E pmtemien add features to make the dietingu ieh brand precinct new 7 inane again cempetitere39 brands Product Types 1 Convenient products o For examples household items such as food cleaning products personal care products 2 Shopping Products For examples clothing products personal services electronic products and household furnishings 3 Specialty Products e For examples highend luxury automobiles expensive champagne and celebrity hair care experts 4 Unsought Products e For examples salesperson39s persuasion or purchase incentives like special discounts offered Product Levels 1 Core Product 0 quotWhat is the buyer really buyingquot 2 Actual Product 0 Name parts styling features packaging and other attributes have all been carefully combined to deliver the core customer value 3 Augmented Product 0 For examples might give buyers a warranty on parts and workmanship instructions on how to use the device quick repair services when needed and a tollfree telephone number and website to use if they have a problem F L Etage Firduet Type Flmcllu all lLEM EIE Glare lnirldueiinn Eanlvaniarla Growth Shaping K Actual Maturity a Specialty a Augmented Decline Linaciugiht Need answers Feel free to drop me an email 15043445 myrpedusg
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