Study Guide



Week 1 Study Guide: Marketing Strategies

Readings and Key Terms

• Ch. 1 of Marketing Management

o Types of Markets

o Challenges to Managing Marketing

o Holistic Marketing Concept

• Ch. 2 of Marketing Management

o Customer Value

o Competitive Advantage

o Strategic Business Unit (SBU)

o Strategic Planning Process

o SWOT Analysis

o Marketing Plan

• Ch. 3 of Marketing Management

o Marketing Intelligence

o Macroenvironmental Forces

• Demographic

• Economic

• Socio-cultural

• Natural

• Technological

• Political-Legal Forces

o Forecasting Demand

• Ch. 4 of Marketing Management

o Marketing Research Process

o Marketing Metrics

Content Overview

• Marketing Overview

o Definition of Marketing

• Marketing Mix (4Ps)

o Understanding the Consumer

• Needs vs. Wants

• Satisfaction and Value

o Marketing Role in Business and Society

• Types of Markets

• The Business’s Marketing Orientation and Holistic Marketing

• Strategic Marketing

o Maximizing Customer Value

• Value Chain

• Core Competencies

• Competitive Advantage

o Strategic Planning Process

• SWOT Analysis

o Macroenvironmental Factors

o Microenvironmental Factors

• Strategic Goals

o Corporate, Divisional, Business, and Product Level Goals

o SBUs

o Generic Strategies

o Marketing Plans

• Collecting Marketing Research

o Internal Data and Data Mining

o Marketing Intelligence

o Macroenvironmental Analysis

• Demographic Forces

• Economic Forces

• Socio-cultural Forces

• Natural/Environmental Forces

• Technological Forces

• Political/Legal Forces

o Forecasting Demand

• Conducting Marketing Research

o Research Process

• Types of Research

o Exploratory

o Descriptive

o Causal

• Deciding the Research Plan

o Data Sources

o Research Approaches

o Research Instruments

o Sampling Methods

o Challenges to Marketing Research

o Establishing and Measuring Marketing Metrics

Week 2 Study Guide: Consumer Analysis

Readings and Key Terms

• Ch. 6 of Marketing Management

o Buying Decision Process

o External Consumer Behavior Influences (Cultural and Social)

o Psychological Consumer Behavior Influences (Motivation, Perception, Learning, Emotions, Memory)

o Personal Consumer Behavior Influences

o Low-Involvement and High-Involvement Buying Decisions

• Ch. 7 of Marketing Management

o Organizational Buying Situations

o Organizational Buying Centers

o Organizational Buying Decision Process

• Ch. 8 of Marketing Management

o Demographic Segmentation

o Geographic Segmentation

o Psychographic Segmentation

o Consumer Behavior Segmentation

o Steps of Segmentation

o Segmentation Attractiveness

• Ch. 10 of Marketing Management

o Differentiation

o Positioning

o Competitive Advantage

o Value Proposition

o Perceptual Mapping

Content Overview

• Influences of Consumer Buying Behavior

o Cultural Variables

o Social Variables

o Personal Variables

o Psychological Influences

o Consumer Buying Decision-Making Process

o Buying Involvement

• Influences of Organizational Buying Behavior

o Consumer Markets vs. Business, Institutional, and Government Markets

o Buying

o Buying Centers

o Organizational Buying Decision-Making Process

• Market Segmentation and Target Markets

o Marketing Segmentation

• Consumer Segmentation

o Demographic

o Age/Generations

o Psychographic

o VALS

o Geographic

o Behavioral

o Benefit, Usage, and Loyalty Segmentation

• Organizational Segmentation

o Selecting Target Markets

• Types of Market Segments

Market Attractiveness

• Differentiation and Positioning

o Competitive Advantage

o Types of Differentiation

o Positioning Strategies

• Perceptual Mapping

• Positioning Statements

o Selecting Target Markets

• Types of Market Segments

• Market Attractiveness

Week 3 Study Guide: Product Mix

Readings and Key Terms

• Ch. 9 of Marketing Management

o Branding

o Brand Equity

o Individual, Family, Corporate Brands

o Brand Extensions

• Ch. 11 of Marketing Management

o Market Share

o Market Leadership

o Product Life Cycle

• Ch. 12 of Marketing Management

o Product Classification

o Product Differentiation Tactics

o Elements of the Product Mix

• Ch. 13 of Marketing Management

o Product-Service Continuum

o Service Characteristics

o Service Differentiation Tactics

• Ch. 20 of Marketing Management

o New Product Development Process

o Market Testing

o Consumer Adopton

o Commercialization Methods

Content Overview

• New Product Development

o Challenges of New and Aging Products

o Managing the New Product Development Process

• Competitive Strategies

o Market Leadership

o Proactive vs. Defensive Strategies

o Managerial Decisions in the Product Life Cycle

• Branding Strategies

o Establishing and Maintaining Brand Equity

o Branding Decisions

o Managing the Brand Portfolio

• Product Strategies

o Maximizing Customer Value

o Product Mix Components

o Product Class

• Industrial Goods

• Consumer Goods

o Product Differentiation

o Variables of the Product Mix

• Service Strategies

o Service Mix Components

o Service/Product Continuum

o Services Differentiation

Week 4 Study Guide: Pricing and Distribution

Readings and Key Terms

• Ch. 14 of Marketing Management

o Psychological Pricing

o Pricing Objectives

o Determinants of Demand

o Pricing Methods

o Promotional Pricing

o Differentiating Pricing

o Challenges to Adaptive Pricing

• Ch. 15 of Marketing Management

o Marketing channel

o Intermediaries

o Value Network/Chain

o Channel Integration

o E-Commerce

• Ch. 16 of Marketing Management

o Retailing

o Non-store Retailing

o Private Label

o Wholesaling

o Logistics

• Ch. 21 of Marketing Management

o Indirect and Direct Export

o Licensing

o Joint Ventures

o Direct Investment

Content Overview

• Pricing Strategies

o Determinents of Price

• Buyer’s Considerations

o Customer Value and Risk

o Pricing Psychology

• Seller’s Considerations

o Pricing Objectives

o Market Demand

o Cost

o Pricing Methods

• Mark-Up, Target-Return, Perceived-Value, Value, Going-Rate, and Auction Pricing

• Adaptive Pricing

o Pricing Allowances

o Promotional Pricing

o Differentiated Pricing

o Reactive Pricing

• Distribution

o Channel Considerations

• Value Network

• Channel Members and Their Roles

o Manufacturers

o Wholesalers

o Retailers

o Logistics

o Other Intermediaries

• Push/Pull Strategies

• Traditional, Direct, Hybrid, and Multi-Channel Strategies

• Distribution Strategies

• Integration Strategies

o Vertical

o Horizontal

o Multichannel

o Hybrid

• E-Commerce

o Brick and Click

o Pure Click

o M-Commerce

Week 5 Study Guide: Marketing Communication, Branding, and Customer Loyalty

Readings and Key Terms

• Ch. 5 of Marketing Management

o Perceived Customer Value

o Customer Life-time Value

o Customer Relationship Management

o Database Marketing

• Ch. 17 of Marketing Management

o Marketing Communications Mix

o Marketing Communications Process

o Integrated Marketing Communications

• Ch. 18 of Marketing Management

o Advertising

o Sales/Trade Promotion

o Events and Experience Marketing

o Public Relations

• Ch. 19 of Marketing Management

o Direct Marketing

o Direct Response Marketing

o Interactive Marketing

o Mobile Marketing

o Word-of-Mouth Marketing

o Social Media

o Personal Selling

• Ch. 12 of This is PR: The Realities of Public Relations

o Crisis Management

Content Overview

• Building and Maintaining Customer Loyalty

o Perceived Customer Value

• Value Proposition and Delivery

• Satisfaction Considerations

o Maximizing Customer Value

• Obtaining New Customers vs. Maintaining Existing Customers

o Customer Relationship Management

• Personalization

• Empowerment

• Retention

• Loyalty

o Database Marketing and Data-Mining

• Marketing Communications

o Marketing Communications Mix

• Advertising

o Types of Advertising

o Advertising Design

o Media Selection

• Sales/Trade Promotion

o Short-Term

o Incentivizing the Channel

• Events and Experiences

• Public Relations

o Company Image and Communication

o Social Responsibility

o Crisis Management

• Direct and Direct-Response Marketing

o Methods

o Challenges and Benefits

• Interactive Marketing

• Word-of-Mouth (Social Media) Marketing

• Personal Selling

o Marketing Communications Process

• Communication Objectives

• Communication Design

• Communication Channel Selection

o Personal Channel and Customer Engagement Benefits

o Non-Personal/Mass Channel Benefits

o Integrated Channel Benefits

• Communication Budgeting Methods

o Integrated Marketing Communications

Week 6 Study Guide: Performance and Legal/Ethical Issues

Readings and Key Terms

• Ch. 21 of Marketing Management

o Market Entry Methods

o Market Standardization Methods

o Market Adaptation Methods

• Ch. 22 of Marketing Management

o Holistic Marketing

o Internal Marketing

o Socially Responsible Marketing

o Cause-Related Marketing

o Social Marketing

o Marketing Control

o Marketing Audit

• Ch. 7 of This is PR: The Realities of Public Relations

Content Overview

• Global Marketing

o Global Market Attractiveness

o Global Market Entry

• Exporting

• Licensing

• Joint Ventures

• Direct Investment

o Global Marketing Mix Strategies

• Managing the Company Image

• Internal Marketing

• Ethical and Socially Responsible Marketing

• Cause-Related Marketing

• Social Marketing

• Current Marketing Challenges and Holistic Marketing

o Managing the Company Image

o Internal Marketing

o Ethical and Socially Responsible Marketing

o Cause-Related Marketing

o Social Marketing

• Marketing Implementation and Control Mechanisms

o Strategic Controls

o Annual-Plan Controls

o Profitability Controls

o Efficiency Controls

• Marketing Metrics

o Sales/Profits-focused

o Customer-focused

o Communication-focused

o Distribution-focused

• Marketing Audits

o Objectivity and Independence

o External Elements

o Internal Elements

o Benchmarking and Best Practices

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