Marketing Management Study Guide

A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. ” “Managing profitable customer relationships”. Creating, delivering, and communicating superior customer value Evolution: Production (none), sales (one way, marketing (two way) What can be marketed: Goods, Services, Places, Persons, Ideas, Events, Organizations, Information, Experiences. Make Myopia: Focusing on short-term profits instead of long-term customer relationships.
CLC. NAP of all profits over lifetime of customer. Needs: Basic human requirements. Become wants when directed to specific objects. Demands wants for specific products Segmentation: distinct, operational, profitable. Bases and profiles. Demographics (Value and Lifestyles (VAL’S)), industrial markets. Motivation and resources. Benefits sought Market segmentation: niche, local, individual. Targeting: develop measures. Single segment, product specialization, market, full market coverage. Positioning: met mix. Co’s: Customer, company, competition AS: Price, Promotion, Place(distribution), Product (lifestyle) Profit Impact = (Unit Contribution x Units Sold) – Fixed Costs Value Proposition: Net value= total benefits – total costs. Making a decision: Conjunctive(good at everything), Lexicographic (best at what matters most), Disjunctive (really good at something) Multi-dimensional scaling (MEDS) a perceptual map. Identify attributes. Links segmentation and targeting/ positioning Conjoint Analysis: Uses real decisions to infer the way that attributes are traded off by consumers Perceptual Biases: Context Effects, Dominating Options,
Anchoring. Marketers should be aware that consumer perceptions & decision processes are often biased Economic Value to the customer (PVC): Compared to reference product, includes savings and incremental value. Competitive advantage and customer inducement. Variables: intensity of product usage, geographical scope, business growth, nature of the application. Expansion of PVC: reduce lifestyle cost, functional redesign, intangibles. Buying decision process: problem recognition, information search, evaluation of alternatives, purchase decision, postprocessor behavior.

Buying center: initiators, users, influences, deciders, approvers, buyers, gatekeepers. Make myopia mitts: Growth is assured by expanding population,

find the cost of your paper

Management Specification

ATHE Level 5 Qualifications in Management ATHE Level 5 Certificate in Management (QCF) ATHE Level 5 Diploma in Management (QCF) ATHE Level 5 Extended Diploma in Management (QCF) © ATHE….

Management Control System essay example

Coca Cola Goes Small in India The coca-cola company is the number one seller of soft drinks in the world. Every day an average of more than 1 billion servings….

Difference Between Personnel Management

Difference Between Personnel Management And Human Resource Management Human resource management is the new version of personnel management. There is no any watertight deference between human resource management and personnel….