PRINCIPLES OF MARKETING
PRINCIPLES OF MARKETING MKTG 409
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This 7 page Class Notes was uploaded by Adelbert Keeling on Wednesday October 21, 2015. The Class Notes belongs to MKTG 409 at Texas A&M University taught by Larry Gresham in Fall. Since its upload, it has received 172 views. For similar materials see /class/225780/mktg-409-texas-a-m-university in Marketing at Texas A&M University.
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Date Created: 10/21/15
MKTG Exam 2 Info 40 Multiple Choice Questions in 50 Minutes Things to go over 0 Class notes 0 Illustrations from the slides and book 0 Exam Review sheet Things that are on the exam In uences on the Consumer Decision process 0 Psychological 0 Social 0 Etc Steps in the Consumer Decision Process Difference between 0 Selective Exposure 0 Selective Distortion o Selective Retention Define Attitude Know what a Reference Group is 0 Why and how we use them Difference between 0 Sales Potential 0 Market Potential Know what Perceptual Map is Know what Product Positioning is Difference between 0 High Involvement Purchases 0 Low Involvement Purchases Difference between 0 Routine Response Behavior 0 Extended Problem Solving 0 Different Degrees of Problem Solving involved Tell the difference between demographic or lifestyle variables What are some Barriers of trade from ch 9 lecture Why do we use Market Segmentation Difference between 0 Concentrated Strategy 0 Differentiated Strategy 0 Undifferentiated Strategy Know the difference between the entry strategies If he describes activities or behaviors ofa particular social class 0 Upper Middle Working class people o What they do and where they shop April 19 2010 Guest Speaker Kevin Hall current company Enenger Aggies and Advertising Revellie Inn was his Fraternity House His career in advertising went to a small agency in Dallas did a lot of commercial real estate and spent a year there then went to a larger agency in Dallas worked on Zales Bank of America JC Penney s moved to an internet company and worked on a lot of digital business worked on Frito Lay now moved to another business and works with ATampT they have 30 different ad agencies but only the retail side of the business How does advertising look for students like us with jobs What s your take on the ad business 0 Students are in a unique position to come into the workforce and teach people who have already been in the workforce for 20 years Things the most proud of o Frito Lay at the time had a real basic corporate website like an online brochure and they wanted him to redesign their corporate website then wanted to go to each of there 4 core brands and meet with each of the brand teams and educate them on the internet and it was up to him to sell to them to invest in their own websites I Cheetohs nationally recognized won awards biggest marketing achievement in Frito that year interactive website for kids I Frito Lay had a tool to test which media had the best return historically TV ruled and got the best return How do you get noticed in the hiring process 0 More often that not you stand out for the bad reasons 0 Don t have your resume so generic and boring and like it is out of a textbook 0 Not good to come in defeated or depressed or discouraged you need to be happy and excited to be there 0 Think about urgency and passion you need to be all over that because it leaves an impression Client vs Agency work environment how it is different 0 He has always worked for an agency all about creativity and developing great work the singular focus is all around doing great work and winning awards agencies are all about the clients 0 The client side is a very small piece of much bigger part they focus on multiple things not just the agency they are working with Ethical issues does he ever run into advertisers that try to bend the truth 0 Working with mostly big companies are so conservative because they are a target they tend to overdue the legal and over communicate Tiger Woods sponsors 0 Morgan Stanley had to drop him because they couldn t afford to have negative feedback same with ATampT 0 Nike on the other hand kept him because they are a little bit ofa rebel tend to be a little controversial and take risks that is the brand they stand for How has the agency business changed 0 If you go back 15 years ago an advertiser would go to an agency and an agency would take all aspects of advertising When the internet hit and the digital media world hit the ad agency would let the company handle the digital media and allow the agency to do the ad portion Agencies are all about creativity and the big idea coming into an entry level position we don t expect people to be creative genius but there has to be some potential there but mainly need to be willing to dig into the details and not having a problem with that Social media is the next big thing when it comes to advertising and marketing MKTG Exam 1 Info 50 Multiple Choice Questions in 50 Minutes Things to go over 0 Class notes 0 Illustrations from the slides and book 0 Exam Review sheet Things that are on the exam Know what a Marketing Mix is Know the Difference between Discretionary Disposable and Total Income Know which Federal Agents regulate market activities the most 0 Know what the Sherman Antitrust Act does 0 What the RobinsonPatman Act does 0 What the Federal Trade Commission does 0 In terms of Marketing Activities Know the difference between Production Sales and Marketing Orientation Know the Marketing Structures 0 Monopoly o Oligopoly o Monopolistic Competition 0 Pure Competition 0 He will describe situations and you will have to identify which structure it represents Know the difference between Environmental Scanning and Environmental Analysis Know the difference between Casual Marketing and Strategic Philanthropy Know what goes under the heading of Price Product Promotion and Distribution 0 Price and categories etc 0 Ex Burger King is using 99cent whoppers to drive traffic into their stores Which element of Marketing Mix am I playing with PRICE Marketing Decision Making Model of Ethical Decision Making 0 Individual Factors religion background beliefs etc o Opportunity Code of Ethics what s right and wrong 0 Significant Others What do other people in the organization do 0 They will describe a situation and you will have to pick the category above that it applies to 0 Ex People are taking pens home from work so Joe decides to as well SIGNIFICANT OTHER 0 Ex Joe is padding the expense account because the company doesn t pay attention to how much money comes through OPPORTUNITY Understand the Concept of Exchange value 0 Someone has got something of value that someone else wants Know the Definition of Value Cost BenefitsPay for what you get Difference between brand competition and product competition Defining the companies mission very broadly is important 0 Broad Definition of what your business is 0 Ex Train company is more than just hauling things it is transportation Respond to environmental forces 0 Proactive or Reactive Customer Relationship Management CRM 0 Know the definition Marketing 621 Summer 2012 Exam HI Review Chapter 13 Services Marketing Pages 368382 only Characteristics of services Marketing mixes for services Great Service All Chapter 14 Branding and Packaging Branding terminology brand brand name brand mark Importance of branding to marketers and consumers Brand equity Degrees of brand loyalty Types of brandsadvantages disadvantages Branding Policiesadvantages disadvantages Cobranding Brand Licensing No questions on packaging or labeling Chapter 17Integrated Marketing Communications Integrated Marketing Communications Objectives of promotion Communication process Promotion mix Push and Pull Promotion Strategies Chapter 18 Advertising and Public Relations Types of advertising Steps in developing an advertising campaign Advantages and disadvantages of different media Advertising platform Media plan Developing an advertising budget Evaluating advertising effectiveness Public Relationstools Chapter 19Personal Selling and Sales Promotion Elements of the personal selling process Sales force compensation Sales Promotiontypes Good luck on the examI have really enjoyed this class Please keep in touch D L WW
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