Ethics
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Moral principles and values that govern actions
Generation cohorts: Gen Y and Millennials
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2000-1977
- Largest cohort - 75+ million
- Wide range of life cycles
- Inquisitive, diverse, time managers, multitaskers, identify with brands
,Price
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Capturing value
- Price is everything a buyer gives up (money, time, energy)
- Must be amount customer willing to pay which gives a profit
Psychological factors
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Motives
Attitudes
Perceptions
Learning
Lifestyle
Demographics
Competition for discretionary spending
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Other possible uses for the money
Product
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, Creating value
- Through a variety of offerings, including goods, services, and ideas to
satisfy customer needs
Why is marketing important?
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Enriches society, entrepreneurial, expands global presence, strengthens
channel relationships, etc.
Education
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Education is related to income, which determines spending power
Differentiated targeting/multisegment
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Firm selects more than one segment for its target markets
Competitive parity
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, - The communication budget is set so that the firm's share of
communication expenses equals its share of the market
- Limitations: Does not allow firms to exploit the unique opportunities or
problem they confront in a market. If all competitors use this method to set
communication budgets, their market shares will stay approximately the
same over time
Attributes sets
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Universal: overall, all options
Retrieval: more specific
Evoked: feelings you get when you first think about product (where
marketers want to be)
Breadth
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Number of product lines
Online marketing
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Websites, blogs, social media
Give this one a try later!
Moral principles and values that govern actions
Generation cohorts: Gen Y and Millennials
Give this one a try later!
2000-1977
- Largest cohort - 75+ million
- Wide range of life cycles
- Inquisitive, diverse, time managers, multitaskers, identify with brands
,Price
Give this one a try later!
Capturing value
- Price is everything a buyer gives up (money, time, energy)
- Must be amount customer willing to pay which gives a profit
Psychological factors
Give this one a try later!
Motives
Attitudes
Perceptions
Learning
Lifestyle
Demographics
Competition for discretionary spending
Give this one a try later!
Other possible uses for the money
Product
Give this one a try later!
, Creating value
- Through a variety of offerings, including goods, services, and ideas to
satisfy customer needs
Why is marketing important?
Give this one a try later!
Enriches society, entrepreneurial, expands global presence, strengthens
channel relationships, etc.
Education
Give this one a try later!
Education is related to income, which determines spending power
Differentiated targeting/multisegment
Give this one a try later!
Firm selects more than one segment for its target markets
Competitive parity
Give this one a try later!
, - The communication budget is set so that the firm's share of
communication expenses equals its share of the market
- Limitations: Does not allow firms to exploit the unique opportunities or
problem they confront in a market. If all competitors use this method to set
communication budgets, their market shares will stay approximately the
same over time
Attributes sets
Give this one a try later!
Universal: overall, all options
Retrieval: more specific
Evoked: feelings you get when you first think about product (where
marketers want to be)
Breadth
Give this one a try later!
Number of product lines
Online marketing
Give this one a try later!
Websites, blogs, social media
