Marketing 351 Exam 1 CSUF Lancellotti
star
Fast growing market leader
cash cow
Generates more cash than it needs to maintain its market share. In a low growth
market, but product has dominant market share
question mark
Shows rapid growth but poor profit margins. Low market share in high growth industry
dog
Low growth potential and a small market share
SWOT Analysis
Identifying internal strengths and weaknesses and also examining eternal opportunities
and threats
Penetration
same products for same customers
Product Development
new products for same customers
Market Development
same products for new segments
Diversification
new products for new segments
Demography
The study of people's vital statistics, such as age, race and ethnicity, and location
Marketing
Marketing is the analysis of customers, competitors, and a company, combining this
understanding into an overall understanding of what segments exist, deciding on
targeting the most profitable segments, positioning your products, and then doing what's
necessary to deliver on that positioning.
good marketing
identifying the needs of the customers and better addressing them than other
companies
good marketing involves
listening to customers, not tell. trying to make your customer happy (not just get a lot of
sales)
product
solution to a consumers problem. positioned relative to competitors (price, offerings,
etc.)
need
state of felt deprivation including physical, social, and individual needs. Natural, cannot
be created by marketers
want
form that a human need takes, as shaped by culture and individual personality.
Marketers can create a want
demand
Wants + Buying Power (i.e. benefits sought)
, market
anyone who does and would buy a product
market segment
a portion of the overall market
Production Orientation
Availability and affordability
Product Orientation
Benefits of the product
Selling Orientation
promotion of the product
marketing orientation
needs, wants, and satisfaction of the customer
societal marketing orientation
needs, wants, satisfaction, and costs to society
high prices caused by
costs of distribution, advertising and promotion, excessive markups
distribution cost
should be a solution to getting what consumers want. Distribution is normally high for
most products
excessive mark-ups cost
besides to increase profit, mark-ups might result to keep products exclusive or even to
prevent over-inflation of the product
high advertising and promotion cost
results from companies needing to get their product known by consumers and to be
competitive with other companies. When companies get more customers, they can
lower the prices
Goal of Marketing
not just to reach a high amount of people, but also to reach the RIGHT people (who are
more likely to buy the product)
Deceptive Pricing
falsely advertising "factory/wholesale" prices or large reduction from fake high list price
Deceptive Promotion
Overstating the Product's Features, Luring Customers to the Store for Out-of-Stock
Bargains, etc.
Deceptive Packaging
Exaggerating Package Contents, Not Filling Package to the Top, Using Misleading
Labeling
Planned Obsolescence Reasons
increased sales, reduced service, competitive advantage
Unsafe Products
okay in certain situations. Knifes are unsafe if used improperly. if making a product safe
costs an unreasonable amount, the product might be sold as is.
materialism
judging others based on what they have.
can create "false" wants
cultural polution
star
Fast growing market leader
cash cow
Generates more cash than it needs to maintain its market share. In a low growth
market, but product has dominant market share
question mark
Shows rapid growth but poor profit margins. Low market share in high growth industry
dog
Low growth potential and a small market share
SWOT Analysis
Identifying internal strengths and weaknesses and also examining eternal opportunities
and threats
Penetration
same products for same customers
Product Development
new products for same customers
Market Development
same products for new segments
Diversification
new products for new segments
Demography
The study of people's vital statistics, such as age, race and ethnicity, and location
Marketing
Marketing is the analysis of customers, competitors, and a company, combining this
understanding into an overall understanding of what segments exist, deciding on
targeting the most profitable segments, positioning your products, and then doing what's
necessary to deliver on that positioning.
good marketing
identifying the needs of the customers and better addressing them than other
companies
good marketing involves
listening to customers, not tell. trying to make your customer happy (not just get a lot of
sales)
product
solution to a consumers problem. positioned relative to competitors (price, offerings,
etc.)
need
state of felt deprivation including physical, social, and individual needs. Natural, cannot
be created by marketers
want
form that a human need takes, as shaped by culture and individual personality.
Marketers can create a want
demand
Wants + Buying Power (i.e. benefits sought)
, market
anyone who does and would buy a product
market segment
a portion of the overall market
Production Orientation
Availability and affordability
Product Orientation
Benefits of the product
Selling Orientation
promotion of the product
marketing orientation
needs, wants, and satisfaction of the customer
societal marketing orientation
needs, wants, satisfaction, and costs to society
high prices caused by
costs of distribution, advertising and promotion, excessive markups
distribution cost
should be a solution to getting what consumers want. Distribution is normally high for
most products
excessive mark-ups cost
besides to increase profit, mark-ups might result to keep products exclusive or even to
prevent over-inflation of the product
high advertising and promotion cost
results from companies needing to get their product known by consumers and to be
competitive with other companies. When companies get more customers, they can
lower the prices
Goal of Marketing
not just to reach a high amount of people, but also to reach the RIGHT people (who are
more likely to buy the product)
Deceptive Pricing
falsely advertising "factory/wholesale" prices or large reduction from fake high list price
Deceptive Promotion
Overstating the Product's Features, Luring Customers to the Store for Out-of-Stock
Bargains, etc.
Deceptive Packaging
Exaggerating Package Contents, Not Filling Package to the Top, Using Misleading
Labeling
Planned Obsolescence Reasons
increased sales, reduced service, competitive advantage
Unsafe Products
okay in certain situations. Knifes are unsafe if used improperly. if making a product safe
costs an unreasonable amount, the product might be sold as is.
materialism
judging others based on what they have.
can create "false" wants
cultural polution
