MKTG 2101 Study Guide - Midterm Guide: Customer Relationship Management, Subculture, Swot Analysis
23 Oct 2014
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Profitability: customer lifetime value: the value of the entire stream of purchases that the customer would make over a lifetime of patronage. Chapter 2: steps in strategic planning (balance goals, capabilities, and changing marketing. Evaluated using : bcg growth-share matrix, ansoff"s product/market expansion matrix. Chapter 5: consumer decision making model: input process output, input: marketing stimuli or other environmental factor, process: [1-3 of buyer decision process, recognize need. Chapter 6: segmentation, psychographic: divided based on lifestyle characteristics, behavioral: divided based on consumer knowledge, attitudes, uses, or responses to the product, targeting, undifferentiated (mass) ignores segmentation. Example: post office: differentiated (segmented) targets segments. Example: nike: concentrated (niche) targets one or few small segments. Example: vans: micromarketing (local/individual) specific group or just one customer. Chapter 7: consumer products: products and services bough by final consumers for personal consumption (purpose home use, convenience goods: purchased frequently and immediately with little comparison shopping, low price, mass advertising/promotion.
