Please enable JavaScript.

Coggle requires JavaScript to display documents.

Marketing Management (Market environment (What is marketing? (identify and…

- - - - creating value for all stakeholders
        
        achieving customer satisfaction
        
        customer value
        
        difference between percieved value and percieved sacrifice
    - - most profitable way
      - cannot create needs
    - - production concept
        
        product concept
        
        selling concept
        
        marketing concept
        
        meet customers' needs better
        
        dont find customers
        
        1 more item...
        
        aggressive selling
        
        focused on product
        
        technically superior product
        
        innovation
        
        internally focused
        
        mass distribution
        
        low costs
      - Marketing Myopia
        
        company doesnt know customer needs
        
        inaccurate assessment of potential competitors
        
        3 groups of customers
        
        "just deliver desired characteristics"
        
        "more is better"
        
        "delighters"
        
        products not needed that much
        
        1 more item...
        
        4 forms of customer value
        
        price value
        
        performance value
        
        emotional value
        
        relational value
        
        1 more item...
        
        value is about how a person feels
        
        looking for latest features
        
        innovation
        
        1 more item...
        
        cheaper / more expensive
        
        growth hacking
        
        holistic approach
        
        hack is finding and solving weak spots
        
        data driven approach
        
        why are we losing people? etc..
        
        4 phases
        
        ideation
        
        prioritization
        
        2 more items...
        
        forming ideas
        
        consideration factors
        
        mindset
        
        team
        
        1 more item...
        
        growth
        
        1 more item...
        
        fixed
        
        1 more item...
        
        growth teams
        
        T- shaped skills
        
        3 more items...
        
        AARRR funnel
        
        lifetime value
        
        1 more item...
        
        acquisition
        
        1 more item...
        
        startup pyramid
        
        2 more items...
- - - - economic
        
        functional
        
        experiential
        
        social
        
        how it connects you to a community
        
        part of group or isolated?
        
        1 more item...
        
        how it makes you feel
        
        psychologica, emotional, intangible
        
        functional values and weights
        
        design, brand, service
        
        measures benefits through units of currency
    - - need recognition
        
        information research
        
        evaluation and choice
        
        post choice evaluation
        
        Traditional view
        
        emerging view
        
        1 more item...
        
        consumers remove options till best one is left
        
        1 more item...
        
        traditional multi attribute model
        
        gold standard model
        
        people consider what a conscious, ratonal decision maker would do
        
        weighing beliefs about products
        
        according to importance
        
        1 more item...
        
        deviations from the MA model
        
        non-compensatory models
        
        many choices
        
        1 more item...
        
        time pressure, initial stages, emotional taboo, non linear (budget)
        
        context effects (context matters)
        
        1 more item...
        
        Memory based
        
        stimulus based
        
        attention grabbers
        
        ads, moving objects...
        
        difficult to choose between many options
        
        4 types of Perception
        
        selecting
        
        organizing
        
        interpreting
        
        Selective retention
        
        selective distortion
        
        selective attention
        
        2 more items...
        
        interpet to support beliefs
        
        conjuctive fallacy
        
        1 more item...
        
        retaining points that support attitudes
        
        4 ways of recognition
        
        deprivation
        
        context
        
        product
        
        direct highlighting
        
        types of needs
        
        biogenic
        
        psychographic
        
        safety and security needs
        
        social needs
        
        1 more item...
        
        physiological needs
    - - types of competetive advantages
        
        downstream
        
        upstream
        
        actual physical resources
        
        connection with customers
        
        desire
      - analysis
        
        core competency (CC)
        
        something the company does really well
        
        benefits customrs
        
        difficult to imitate
        
        the collective learning in the organization
        
        accumulates over time
        
        physical decreases
        
        Strategic business units
        
        independant treatment of
        
        products
        
        brands
        
        departments
        
        problems
        
        underinvestment into CC
        
        imprisoned resources
        
        bounded innovation
        
        1 more item...
        
        not sharing resources across units
        
        each department will focus on own benefits
        
        overall negative effect
        
        Assessing CC's
        
        SWOT analysis
        
        Areas of assesment
        
        upstream / downstream
        
        criteria core competencies
        
        provide access to many markets
        
        contribute of customer benefits
        
        1 more item...
        
        identifying competitors
        
        under reaction
        
        companies dont understand competitors' actions
        
        1 more item...
        
        2 point of view
        
        narrow
        
        2 more items...
        
        Analytic identification methods (close competitors)
        
        Customer judgement
        
        2 more items...
        
        competitive intelligence
        
        1 more item...
        
        choosing a competetive strategy
        
        3 more items...
- - - - Mass market strategy
        
        customized stategy
        
        effective but not efficient
        
        efficient but not effective
    - - balance between effeciency and ecceftiveness
      - allows for competition
        
        caters different needs
        
        limited resources
        
        restricted budget
        
        most priftable spending
        
        must have ROI
        
        aggregation bias
        
        better to exclude some customers
        
        dont aggregate needs
        
        companies can coextist in different segments
    - - horizontal
        
        vertical
        
        choice paradox
        
        too many features to choose from
        
        result is dissatisfaction
        
        quality
        
        taste
      - customer needs
        
        geographic location
        
        across a product line
        
        products targeting different segments
        
        different brand messages for targets
        
        kitkat
        
        US - food
        
        Japan - gift, quality
        
        cluster groups identified
        
        mutually exclusive
        
        collectively exhaustive groups
        
        identification of variables (eg. demographics)
        
        make segments distinct and actionable/identifiable
      - 3 criteria for market segmentation
        
        Distinctive
        
        Operational
        
        substantial
        
        supports profitable marketing programs
        
        growth potential
        
        ability to identify people
        
        find them
        
        appeal to them
        
        one of the 4Ps change
        
        differenct reaction
        
        Descriptive Variables
        
        based on personal characteristics
        
        Demographic
        
        Psychographic
        
        Behavioral
        
        based on actual behavior
        
        1 more item...
        
        differences in activities
        
        interest, opinions, psychological measures
        
        objective
        
        cheap to obtain
        
        no frequent measures necessary
        
        1 more item...
        
        Targeting
        
        evaluation of segments
        
        selection of one or more segments
        
        focus of 4Ps
        
        Importance-Performance model
        
        people who may want to buy the product
        
        customer focus
        
        1 more item...
        
        Importance
        
        Performance
        
        2 more items...
        
        segment identification
        
        1 more item...
        
        6 factos for determining attractiveness
        
        segment size
        
        1 more item...
        
        Multiple target approach
        
        2 more items...
- - - - competitors
        
        company
        
        unique sustainable attributes
        
        differential advantage
      - what matters to them?
    - - helps determine positioning
    - - 4 Ps
        
        product
        
        price
        
        promotion
        
        promoting to different segments
        
        place
        
        where is it available?
        
        high - low
        
        different brands
      - Perceptual map
        
        customers' wants
        
        customers' perceptions of competitors
        
        customers' perception of you product
        
        ideal point
      - traditional positioning statement
        
        target segment
        
        competitive framework
        
        point of differentiation
        
        reasons why better than competitors
        
        point of differentiation benefit
        
        target audience
        
        belief perseverance
        
        curse of knowledge
        
        unknowingly assuming others have background knowledge
        
        clinging to initial beliefs
        
        regardless of new information contradicting it
        
        repositioning
        
        changing target market
        
        changing product / differential advantage
        
        both
        
        image repositioning
        
        product repositioning
        
        intangible repositioning
        
        tangible repositioning
        
        1 more item...
        
        target market different
        
        1 more item...
        
        product different
        
        target market same
        
        same both
        
        Products
        
        anything that can be offered to the market
        
        physical goods
        
        services
        
        1 more item...
        
        3 classes of product attributes
        
        search attributes
        
        2 more items...
        
        failure of products
        
        fast growth
        
        falling short of claims
        
        1 more item...
        
        company cant support it
        
        how to avoid failure?
        
        extensive research
        
        1 more item...
        
        product life cycles
        
        assumptions
        
        products have limited life
        
        1 more item...
        
        shortcomings
        
        1 more item...
        
        4 stages
        
        introduction
        
        2 more items...