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MKTG 380 Test Two (Fall 19) Cheat Sheet by

marketing     winthrop     380     ostinelli

Chpt 5: Marketing Analytics

CRM steps
ID cust, differ­entiate cust, interact with cust (improve effici­ency), customize good
touchpoint
any direct interface b/w cust & company
sentiment analysis
positi­ve/­neg­ati­ve/­neutral assoc
emotion analysis
emotional reaction to product
market basket analysis
focused promo strategies based on previous purchases
a/b test
method to test 2 variations of same thing (a vs b)
churn rate
% of cust who will no longer be cust @ end of time period
cost-p­er-­order
cost of gaining cust in terms of mkting expense

Chpt 6: Business & Cust Mkts

types of decisions
habitual: low involv­ement, low perceived risk
 
limited:
 
extended problem solving: high involv­ement, high percieved risk
heuristics
rules of thumb
3 main categories of influence
internal, situat­ional, social
internal influences
percep­tion, motiva­tion, learning, attitude, person­ality, self-e­steem, lifestyle
classical condit­ioning
pavlov's dog
operant condit­ioning
rewards & punish­ments
behavioral learning
how consumer behavior is changed by ext stimuli
cognitive learning
internal mental processes; ppl as problem solvers
observ­ational learning
learning from observ­ations
affect
feelings of attitudes
cognition
knowing of attitudes
behavior
doing of attitudes
psycho­gra­phics
psych, socy, anthro factors to create mkt segs
buying center
group of ppl in org who make buying decision
 

Chpt 7: Segmen­tation, Target Mkting, Positi­oning

parts of segmen­tation
demogr­aphics, psycho­gra­phics, behavior
PRIZM
geodem­ogr­aphic system
geotar­geting
targeted ads based on location
usage rate
quantity purchased or freq of use among
usage occassions
indicator based on when consumers use a product most
phases of targeting
eval mkt segs, develop seg profiles, choose targeting strategy,
undiff­ere­ntiated targeting
appealing to broad spectrum o fppl
differ­ent­iated targeting
developing diff products for distinct cust groups; products are kept separate on mktplace
concen­trated targeting
1/+ products to single market seg
customized targeting
targets specific products & msgs ab them to individ cust
positi­oning
mkt strategy focused on how cust percieve a product in comparison to compet­itors

Chpt 8: Innovation & New Product Develo­pment

core product
all benefits product will provide cust
actual product
physical good/d­eli­vered service
augmented product
actual product + supporting features (warranty, etc)
CPG/FMGG
low cost,fast moving prepack item
unsought products
products cust have little interest in until brought to attn
adopter categories
innova­tors, early adopters, early majority, late majority, laggards
factors in rate of adoption
relative advantage, compat­ibi­lity, comple­xity, triala­bility, observ­ability
 

Chpt 9: Product Strategy, Branding, & Mgmt

product line length
number of separate items in same catergory
full line
targets many cust seg
limited line
fewer product variations
upward stretching
filling line with higher priced options
two way stretching
adding higher & lower price options
filling out strategy
adding sizes or styles
cannib­ali­zation
loss of sales when new item is added
product mix
total set of all products firm offers
product mix width
number of diff product lines firm produces
intro stage
no profit bc recovering R&D costs
growth stage
profits increase & peak
maturity stage
sales peak & profit margins narrow
decline stage
market shrinks, sales fall, & profits fall
brand equity
value of brand to org (brand vs generic)
private label brands
store brands
universal product code
UPC; barcode

Download the MKTG 380 Test Two (Fall 19) Cheat Sheet

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