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Mktg Mng

TO STUDY: http://www.cram.com/flashcards/test/principles-of-
marketing-chapters-1234-1904534

http://www.cram.com/flashcards/test/marketing-quiz-1-chap1-2-
269306

http://quizlet.com/4329647/kotlerarmstrong-principles-of-
marketing-chapter-1-vocabulary-flash-cards/



City marketing: Position the product, city, country, etc. and differentiate it
from the competition.

Many consumers dont understand the info written on the product.

Companies have to abide the rules imposed by the gov. agencies in relation
to the nutritional facts, but people dont always have the tools to understand
them.

Chapter 1

Marketing:
- Creating values for costumers.

- Customers relationships can be:
o Attracting new customers (potential)
o Retaining and growing current customers (actual)
We need one mktg strategy for the actual and aother one for the potential
customers.

- Studying needs: a need is smth that you cant live without.
o A need is shaped by your culture and your personality.

- Demand is a need backed by the purchaser power.


- Product is a tangible good. If it were not tangible then it would not be a
thing.
- Service is intangible.



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If you download music and you pay for the service, you pay to listen it. Then
every time you do it you have to pay for it. A product is something you
download once, you pay for it once and then thats a product. E-books are e-
products because you consume them; you buy them once and after you always
have it.

Value: the value on a product depends on circumstances, depends on the
object. Eg: theres an exam and a student does not have a pen to write so he
will pay more for a pen than a student that has one. Why? Because if he cant
write, he will fail.

Value= Benefits Costs







Satisfaction: when a product fills our expectations or even more.
EG: max. grade you can take is a B and its a compulsory course. At the mid of
the term some get a B and those will be satisfied; others get a C+ and they will
be less satisfied. At the end of the course some of those who got a B get an A but
others remain with a B, those who got an A are really satisfied and those who
got a B may not be that satisfied cause they had some expectations of getting a
better grade.

Quality: we care about it due to the satisfaction we want to give to our
clients. The company has to take care about the quality cause if for eg. I buy a
Toshiba and in a short time period the skin brakes by itself, I wont buy one
again and recommend that brand because for me its not good. On the other
hand I buy a MAC

Exchange: the situation where you get one product and you give in return
another product. One product for another.

Transaction: You get the amount of money equivalent to your product. Here
you get money that worth it.

Benefits Costs
- Prod./Serv. - $
- Prestige - Hours/Time
- Function - Effort

- Its different to be an occasional consumer to a frequent one.

Markets: The set of all actual and potential buyers of a product or service.
Market is composed by 2 entities:
- Actual consumers: already buy
- Potential consumers: do not buy by the time being
I have to build 2 strategies: one for those who already buy but I want them to
buy more and those who do not buy but I want to attract them. Once
potentials are in I have to change the strategy.


As marketers we want to sell more.?As a marketer I dont want
customers to buy my product? (Creo escribi cualquiera)


De-marketing: sometimes as a company or as a business we have a version
of a prod and we become to develop another version too. When we are
developing a product and are about to lunch it we want costumers to define
differences between them. At this time the products in the same company
also compete between each other. E.g. IphoneIf you want to buy an Iphone 3
nowadays you wont find it in an apple store cause other versions of it came
after. You can find Iphone 4S but there are only a few and they promote more
Iphone 5C or 5S and Iphone 5 was taken out of markets.
- Marketers take away a product and substitute it with another one.



Porsche Example:
WHAT A DOG FEELS WHEN THE LEASH BREAKS
If you buy a porsche go to highways in Germany for e.g. and drive cause you
can drive at high speed. But if you buy it in Quebec you wont buy it cause of
performance cause you cannot drive at a high speed you could buy a Corolla
and it will perform equally at 100km/h. If you buy it in Quebec you will buy it
maybe for prestige or another purpose than velocity.




Production Concept: Demand > Production
Here you do not have to do marketing grow, you do not have to waste time in
advertising, packaging, etc. because there are more people asking for the
product than the production of the product itself.
Companies are foxing the production in order to satisfy the demand.


Product Concept: Product Competition

Selling: Demand > Production
We have to make promotions, sales and discount to sell the product. Here
mktg is based in promotion.

Marketing Concept: Marketing Mix (4Ps)
4Ps= Price, Promotion, Place and Product)


4 points of difference between selling concept and mkt concept

Selling:
Starting point of selling Factory
- we dont know the market, we only know to produce them but we dont
know customers needs

Marketing:
In marketing the starting point is market. Before the factory we research
what type of PC the customers want, which screen size and how much they
will be able to pay for it and later where they want to buy them. Based on
that they start developing the PCs.



Loyalty:
Dictionary Def.: is faithfulness or a devotion to a person, country, group, or
cause.
In Marketing, loyalty, is a matter of degree, there is no absolute loyalty
forever, cause product may get out of market, or companies dissolve or
another company makes a better product.


Ch. 4 - Social Responsibility and Ethics: Sustainable Marketing



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Ch. 3 Analyzing the Marketing Environment


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Ch. 5 Managing Marketing Information to Gain Customer Insights


11/01/14
CONTINUE CH 5


Ch. 6 Buyers Behaviour...

Buyers Black Box: Decision depends on what you have in your head,
depending on your personality, culture, and surroundings.

Nizar Notes (SLIDE 4): Consumer Behavior
Consumer behavior refers to the buying behavior of final consumers --
individuals and households who buy goods and services for personal
consumption.
Model of Consumer Behavior
Marketers control the stimuli or inputs consisting of the four Ps:
Product, Place, Price, and Promotion. Environmental and situational
influences, though perhaps beyond the control of the marketer, also
influence many consumer choices. But what happens between the
marketing stimuli input and the buyers response or output? That
black box processing is the central question for marketers.
Teaching Tip: You may wish to discuss the buyers black box in more detail at
this stage. Students sometimes become involved in the controversy regarding
the presence or absence of consciousness in consumers. Consider using a two-
side in-class discussion:
Side A: Experimental psychologists argue that what we call consciousness is
merely a set of complex learned responses -- an ordinary physiological function.

Side B: Sociologists and social psychologists argue that consciousness is
greater than the sum of its physiological parts. For marketers, the issue is
sometimes linked to free will: Do marketers create needs by conditioning
consumers? Do marketers offer need-fulfillers to needs consumers create in
their black box?



Nizar Notes (SLIDE !6):
The Buyer Decision Making Process
This CTR corresponds to Figure 5-6 on p. 153 and relates to the
material on pp. 152-156.
Teaching Tip: Consider asking students to describe some of their purchases
decisions made at the beginning of the term and link them to steps in the
process.
Stages in the Buyer Decision Process
A. Need Recognition. Problems are recognized when people sense a
difference between an actual state and some desired state. Problem
recognition can be triggered by either internal or external stimuli.

B. Information Search. Consumers vary in the amount of information
search they conduct. Information search may be a survey of
information stored in memory or may be based upon information
available externally. Search effort varies from heightened awareness
corresponding to increased receptivity for relevant information to
active information search modes where the person expends some
energy to obtain information that is desired. External information vary
in their informational and legitimizing characteristics. Riskier
decisions usually elicit more search behavior than non-risky decisions.

C. Evaluation of Alternatives. Following information search, the person
compares decisional alternatives available. Criterion for evaluation
compares product attributes of the alternatives against degrees of
importance each attribute has in meeting needs, beliefs about the
product or brand's ability and utility, and an evaluation procedure that
ranks the alternatives by preference that forms an intention to buy.

D. Purchase Decision. - The individual buys a product. Purchasing other
than the intended product may be due to attitudes of others exerted
after the evaluation of alternatives is completed or unexpected

situational factors such as point of purchases promotions that affect the
alternatives' ranking.

E. Post-purchase Behavior. This involves comparing the expected
performance of the product against the perceived performance
received. Cognitive dissonance describes the tendency to accentuate
benefits and downplay shortcomings.


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Ch 6 and 7

Buyer decision process for new products


Ch 8