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REVISION TEST - Chps 1, 2, 3, 4, 5 & 15 plus associated lecture notes Chapter 1 CONCEPT CHECK In marketing science, a market offering,

or product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want it includes physical objects, services, experiences, persons, places, organizations and ideas Human needs are states of felt deprivation while wants are the form taken by human needs as they are shaped by culture and individual personality Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and fro managing customer relationships in ways that benefit the organization and its stakeholders Marketing management involves the analysis, planning, implementation and control of programs designed to create, communicate and deliver value to customers and which facilitate managing customer relationships in ways that enable the organization to meet its objectives and those of its stakeholders The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors Marketing organizations in the 21st century are wrestling with changing customer values and orientations market maturity in many industries, environmental decline, increased global competition and a host of other economic, political and social problems Chapter 2 Marketing process- Analysing marketing opportunities, researching and selecting target markets, Designing marketing strategies , planning marketing programs, implementing and controlling the marketing effort Strategic Planning -process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities Marketing Strategy - marketing logi wheby the business units hopes to achieve its marketing objectives Marketing Control - process of measuring and evaluating the results of marketing strategies and plans - taking corrective action to ensure marketing objectives are attained Marketing management and planning - 4 levels decision making - corporate, divisional, business units and product levels Business Plan - incorporates the plans of all functions ie production, R&D, finance, human resources, IT and marketing

Marketing Plan - focuses on customer acquisition and retention - can cover 1 year or a few years And the resources - marketing functions such as selling, advertising, sales promotion and marketing research Marketing Implementation - the process that turns marketing strategies and plans into marketing actions to accomplish strategic marketing objectives Marketing Audit Determine problem areas Executive Summary - the opening section of a marketing plan that gives a short summary of the main goals and recommendations in the plan CONCEPT CHECK Marketing plans are often poorly developed due to the lack of a good marketing process Marketing Plans can be developed either on an annual or long-term basis Companies are often referred to as a cauldron of various products and services dispersed across geographies, industries and markets. As a result of such differences, organizations are setting up distinctive business units known as strategic business units (SBU) as a means of successfully competing in their given markets Organizations are constantly integrating and co-ordinating their marketing resources in the process of developing a marketing strategy to achieve the desired result When developing a marketing plan, objectives must be set before a marketing strategy can be developed to achieve them A brilliant marketing strategy counts for nothing if the marketing implementation is poorly executed Marketing plans are often poorly implemented because they lack the necessary detail about the actions that are required Chapter 3 The microenvironment consists of the forces close to the organization that affects its ability to serve its customers - Organizations internal environment - R&D, finance, accounting, purchasing, manufacturing and senior/top management - Information is shared amongst the groups The main actors in the organizations microenvironment are (SIPCCC) Suppliers - provide the resources needed by the organization to produce its goods and services Intermediaries (Marketing) - help the organization promote, sell and distribute its goods to final buyers Publics - a public is any group that has actual or potential interest in or impact on an organizations ability to achieve its objectives FIGGMLC - Financial, Internal, General, Government, Medial, Local and Citizen-Action

Company Competitors - organizations are aware of its competitors strengths and weaknesses Customers - The organization can operate in 5 types of customer markets CRIBG - Consumer, Reseller, International, Business and Government The macroenvironment consists of the larger societal forces that affect the whole microenvironment DENTPC Demographics - study of human population-size, location, age, sex, race, occupation + other statistics Economic - factors that effect consumers buying power and spending patterns Natural (Nature) - natural resources that are needed as inputs by marketers or which are affected by marketing activities (pollution - increased cost of energy eg oil) Technological - forces that effect new technologies, creating new products + market opportunities Political - laws, government agencies + pressure groups that influence or limit organizations and individuals in society Cultural - institutions and other forces that affect societys basic values, perceptions, preferences and behaviours CONCEPT CHECK The marketing environment is of significance because marketing organizations face actors and forces outside marketing that affect marketing managements ability to develop and maintain successful transactions with its tart customers Marketing intermediaries are firms that help marketing organizations to sell and distribute their products to the final buyers, they include Consumerism is an organized movement of customers whose aim is to improve the rights and power of buyers in relation to sellers Demography is the study of human population in terms of size, density, location, age, sex, race, occupation and other statistics This aspect of the environment facing the marketing organization, the microenvironment consists of the forces close to the organization that affect its ability to serve its customers - Suppliers, Intermediaries, Publics, Customers, Company and Competitors (SIPCCC) A further aspect of the environment facing the marketing organization, the macroenvironment consists of the larger societal forces that affect the whole microenvironment - demographic, economic, natural, technological, political and cultural (DENTPC) Chapter 4

Chapter 5 Drive is a motive and is a need directing the person to seek satisfaction Perception - process by which people select, organize and interpret information to form a meaningful whole picture of the world (make sense of their world) Tri component attitude model - CAC

Cognitive - beliefs and evaluations Affective - emotional like/dislike Conative - intention top purchase or practice of purchasing (endeavour-effort) Model Of Consumer Behaviour - the study of consumer behaviour - marketers do consumer research to try and learn what, who, how, when, where, and importantly why Consumer Market - all the individuals and households who buy or acquire goods and services Consumer Buying Behaviour of final customers, individuals and households who buy goods and services for personal consumption 2 Characteristics influencing consumer behaviour Main influences Internal - psychological and personal External - representing environment ie cultural and social Perception how people act is influenced by their perception [a motivate person is ready to act] Maslows (Clinical Psychologist) Hierarchy of Needs Self actualization - bettering yourself Self Esteem - feeling good about yourself Belongingness - friends, family, social Safety - housing, clothes, keep safe Psychological - food and water Roles in the Buying Process - Consumer Buying Roles - BU I I D Buyers Users Initiators Influencers Deciders Types of Buying Decision Behaviour Complex - eg mobile phone Dissonance Reducing - eg House Habitual - eg toilet paper, shampoo Variety seeking - eg biscuits Buyer Decision Process - 5 STEPS - N I E P P Need Information search Evaluation of alternatives buyers pass through steps in trying to satisfy a need Purchase Post Purchase behaviour Examples - bottle of soft drink, mobile phone, selecting/choice university/course Buyer Decision Process for new Products New product = a good or service perceived by customers as new

Adoption = the decision by an individual to become a regular user of the product CONCEPT CHECK Chapter 15 Consumerism - organized movement of citizens and government agencies whose aim is to improve rights and power of buyers in relation to sellers Environmentalism - organized movement of concerned citizens, businesses and government agencies seeking to protect and improve peoples living environment Ethical Marketing - an approach by organizations - recognize that the task of marketing is to be enlightened to societys view and ethical in their approach to society as a whole as well as customers Societal Marketing - an organization should make marketing decisions considering consumers wants the organizations requirements and the long term interests of consumers and society Deficient Products - bad tasting and ineffective medicine no immediate appeal or long term benefits Pleasing Products - high immediate satisfaction - but hurt consumers and society in long term Salutary Products - low appeal - but benefit consumers in the long term Desirable Products - high immediate satisfaction and high long term benefits Long term consumer benefit HIGH LOW SALUTARY PRODUCTS DEFICIENT PRODUCTS LOW DESIRABLE PRODUCTS PLEASING PRODUCTS HIGH

Immediate Satisfaction Sale of Goods Act and Fair Trading Act in each state Trade Practices Act = Commonwealth