Chapter #13 - Coggle Diagram
PROVIDING MARKETERS WITH INFORMATION
What are the steps in conducting marketing research?
(1) Define the problem or opportunity and determine the present situation
(2) collect data
(3) analyze the data
(4) choose the best solution.
WHAT IS MARKETING
What is marketing?
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
How has marketing changed over time?
Marketing was largely a distribution function. Emphasis was on producing as many goods as possible and getting them to markets. By the early 1920s, during the selling era, the emphasis turned to selling and advertising to persuade customers to buy the existing goods produced by mass production. During the 1990s, marketing entered the customer relationship era, focusing on enhancing customer satisfaction and stimulating long-term customer loyalty. Today marketers are using mobile/on-demand marketing to engage customers.
What are the three parts of the marketing concept?
The three parts of the marketing concept are:
(1) a customer orientation
(2) a service orientation,
(3) a profit orientation
What kinds of organizations are involved in marketing?
All kinds of organizations use marketing, including for-profit and nonprofit organizations like states, charities, churches, politicians, and schools.
THE MARKETING ENVIROMENT
What are some of the more important environmental trends in marketing?
The most important global and technological change is probably the growth of the Internet and mobile marketing. Another is the growth of consumer databases, with which companies can develop products and services that closely match consumers’ needs. Marketers must monitor social trends like population growth and shifts to maintain their close relationship with customers. They must also monitor the dynamic competitive and economic environments.
What is environmental scanning?
Environmental scanning is the process of identifying factors that can affect marketing success. Marketers pay attention to all the environmental factors that create opportunities and threats.
THE BUSINESS-TO-BUSINESS MARKET
What makes the business-to-business market different from the consumer market?
Customers in the B2B market are relatively few and large. B2B markets tend to be geographically concentrated, and industrial buyers generally are more rational than ultimate consumers in their selection of goods and services. B2B sales tend to be direct, and there is much more emphasis on personal selling than in consumer markets.
THE MARKETING MIX
How do marketers implement the four Ps?
The idea behind the four Ps is to design a product people want, price it competitively, place it where consumers can find it easily, and promote it so consumers know it exists.
THE CONSUMER MARKET
What are some of the ways marketers segment the consumer market?
Segmentation by age, income, and education level is demographic segmentation. Attitudes, and interests using psychographic segmentation. Determining which benefits customers prefer and using them to promote a product is benefit segmentation. Separating the market by usage is called volume segmentation. The best segmentation strategy is to use all the variables to come up with a consumer profile for a target market that’s sizable, reachable, and profitable.
What is the difference between mass marketing and relationship marketing?
Mass marketing means developing products and promotions to please large groups of people. Relationship marketing tends to lead away from mass production and toward custom-made goods and services. Its goal is to keep individual customers over time by offering them products or services that meet their needs.
What are some of the factors that influence the consumer decision-making process?
Factors that influence the consumer decision-making process include learning, reference group, culture, subculture, and cognitive dissonance.