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125 terms

MKT 321 final review (125 ?'s)

STUDY
PLAY
Creating true customers who believe that they are receiving value from your firm and are valued as individuals by your firm is
Relationship Marketing
A critical component that makes it possible for people to fully share values, experiences, and customs is
Common Language
________ are genetically programmed to quickly learn a spoken language. _________ find it very difficult to learn a new language.
Young children and Older people
Cultural beliefs and values continue to exist as long as they result in
Satisfaction
Understanding your own culture is
Enculturation
Understanding a different culture
Acculturation
We are taught the values of our culture through
Socialization
The most important influences of socialization are
Family, Educational system, Religion,In developed societies through the mass media. (Web, television, radio, newspapers, magazines.)
Four components of our culture are
Myths, Customs, Rituals, Material Artifacts
An example of a Myth is
Santa Claus, tooth fairy
An example of a custom is
thanksgiving dinner (biggest travel day on airlines), phoning mom on mothers day (more calls than any other day)
An example of a Ritual is
weddings (6th largest industry), graduation
An example of a Material Artifact is
element of culture is what is most important to marketing (engagement ring, turkey dinner, roses.)
Four paths taken by those who reject cultures values are
activism, search for community, hendonism, Etherealization
An example of activism by those who reject cultures values are
change cultural values
An example of Search for Community by those who reject cultures values are
find and live in same area with other people who have similar values
An example of Hedonism by those who reject cultures values are
Focus on personal pleasure
An example of etherealization by those who reject cultures values are
back to nature
What characteristics make up a subculture
nationality, religion, race, and age
An individual can be part of how many subcultures
no limit
A segment of a larger culture whose members share distinguishing patterns of purchase behavior is a
subculture
This possess beliefs, values, and custom's that set them apart from other members of the same society
subculture
How many people in the United States are foreign born
10%
What is the largest subculture
Hispanics
Three categories of Hispanics subculture are
Strong Hispanic Identification
Moderate Hispanic Identification
Limited Hispanic ID
An example of Strong Hispanic Identification is
mostly only the members speak spanish
An example of Moderate Hispanic Identification is
members speak spanish and english, but are more comfortable speaking spanish
An example of Limited Hispanic ID is
equally comfortable with other languages
Four categories or African American subculture are
Contented Consumers (37% of largest segment)
Upwardly Mobile Consumers (24%)
Living For The Moment Consumers (21%)
Living Day-To-Day Consumers (18%)
What % makes up contended consumers in the African American subculture
37%
What % makes up upwardly mobile consumers African American subculture (going to college)
24%
What % makes up living for the moment consumers African American subculture (life can be short , enjoy while you can)
21%
What % makes up living day to day consumers African American subculture (no job skills)
18%
What is the fastest growing subculture in America
Asian Subculture
Which is the most affluent subculture and and have a higher average income than Caucasians
Asian Subculture
What are the Four age subcultures
Generation "Y
Generation "X": (born 1965 to 1976)
Baby boomers
Seniors: (before 1945) remember the great depression and WWII.
The Gen "Y" subculture is
born 1977 to 1994. least likely to read the newspaper and do not trust the stores their parents shop. (Some are calling this generation "D" for debt.)
The Gen "X" subculture is
born 1965 to 1976
The Baby Boomers subculture is
born 1945 to 1964. Largest age subculture. Optimistic group, but paying their benefits will be a real problem. Many are uncomfortable with new technology. Have approximately 50% of the United States discretionary income- do not have to support children, and are no longer working, homes paid off
The Seniors subculture is
(before 1945) remember the great depression and WWII.
What is the maximum number of characteristics of a product that a consumer considers before purchase
Six
Two of characteristics that are always considered of a product are
price and brand reputation.
The Types of decisions that consumers make when selecting a product are
Routine decision-making
Limited decision-making
Extensive decision-making
Knowing what you want and what people have to offer is
Routine decision-making
Knowing what you want but unsure what firms have to offer. (where to get product) is
Limited Decision Making
When you don't know anything about the product, often used when buying expensive products.
Extensive decision-making
Two types of (importance) involvement
Enduring involvement (important) car, computer
Situational involvement (typically not important)
The procedures used by consumers to reduce the burden of making complex decisions by providing routines for making the decision making process less taxing.
Heuristics
Buying highest priced product at a store, or only shop at Wal-Mart because it has the lowest prices.
Heuristics
The four steps of Low involvement decision-making are
Problem recognition, Search of long-term memory for information, Decision on which product to purchase, Post-purchase evaluation of the decision
The 6 steps of High involvement decision-making are
Problem recognition, Search of long term memory for information, Search for other sources of information about the product, Evaluation of alternatives, Decision on which product to purchase, Post-purchase evaluation of the decision
An example of searching for other sources of information about the product would be using the
Web, salespersons, friends, family, newspapers, magazines
Seeking brands through evaluation of other brands and brands that will not be seriously considered for purchase is an example of
Evaluation of alternatives
Awareness, Interest, Evaluation,Trial, Adoption/rejection are steps to which process
the adoption decision-making process
Marketing begins with
Internal Marketing
Marketing to employees so that they become customer conscious and sales minded. Every member of the firm must recognize that they are involved with marketing the firm's products to consumers is
Internal Marketing
Family and friends are an example of
Internal Marketing
A macro process concerned with the spread of a new product from its source to the consuming public is
Diffusion of innovation
Three Types of innovation are
Continuous innovation, Dynamically continuous innovation, Discontinuous innovation
Adding a new flavor or new color is an example of
Continuous innovation
No new technology and no real change in customer behavior needed. a modified product rather than a new product is
Continuous innovation
New technology, but no real change needed in consumer behavior is
Dynamically continuous innovation
An example of Dynamically continuous innovation is
blu - ray player
New technology and requires change in consumer behavior is
Discontinuous innovation
An example of Discontinuous innovation is
cell phones - texting, access to email
Marketing innovations commercially successful when
a social system is modern in its orientation, the acceptances of high innovations is likely to be high.
A plan that most technical innovators use that sets some time mark when you'll bring out product and the price, and then gradually reduce the price over time is
skimming pricing strategy
1.Make the benefits that your product offers significantly superior to existing products offered by competitors 2. Search the globe for new product ideas. 3. Form strategic alliances with other firms that can help your products succeed. 4. Uncover latent consumer insights (consumers may not realize that they want/need your new product until they are exposed to prototype/picture/description of the product. 5. Market readiness drives customer loyalty (firms need a readily available system to bring new products to the market, timing is very important) 6 .Market the product globally ASAP are the 6 principles for
making an innovation successful in the market place
Generally, on average a dissatisfied customer will tell how many people about the bad experience?
Nine
An example of Innovators and early adopters of new technologies are
Techno-phones
People who get excited about new technologies; generally innovators and early adopters of technical products are included in this group. New technologies must be adopted by this group for a new technology product to become successful. (approx. 20% of the population) are
Techno-phones
An example of Late adopters and laggards of new technologies
Technophobes
People who are uncomfortable with new technologies. Generally, laggards of technical products come from this group. They are the last group to accept a new technical product. This group is often older, poorer, and less educated. (25% of the population)
Technophobes
North American Free Trade Agreement creating a free market between America, Canada, and Mexico - 440 million consumers - is
NAFTA
Consumers makes their purchase decision based on an association between the country in which the product is made and the quality of the products is
Country of origin effects
Buying French wine, Japanese electronics/automobiles, Kentucky bourbon are examples of what
Country of origin effects
Export Department, International Division, Global Organization or (multinational organization) are examples of
Three levels of international marketing
Markets primarily to importers and exporters through offices in the United States. All of their products are produced in the United States work in the
Export Department
The firm has sales offices in many countries but produces/ assembles their products primarily in the United States work in the
International Division
Produces in the lowest cost countries (e.g., China, Mexico) and sells where their products bring the highest prices (e.g., America, Western Europe)
Global Organization or (multinational organization)
Standardized product and standardized communication program (Also know as a global strategy), Standardized product and customized message, Customized product and standardized message, Customized product and customized message (labeled as a local strategy) are examples of
Four global marketing strategies
Products that are manufactured, packaged, and positioned in exactly the same way regardless of the country in which they are sold. (Coke) are
World brands
Economic advantage, Time advantage, Learning advantage, Quality control advantage, Advantage of consistency of image and positioning are examples of
Advantages of world brands
Less than best fit in some countries, Low morale among local marketing personnel, Not invented here excuse are examples of
disadvantages of world brands
KFC tries to adapt its advertising messages to specific values of specific cultures. Therefore it is a _________ company
Global
Marketers that use coupons and/or free samples understand the importance _____________ of in the development of attitudes.
direct experience
Product standardization works best with
high tech products
good communication skills- oral and written, teamwork, leadership skills, and motivation/ initiative are all examples of _________ employers are looking for in a job interview of college graduates are
Characteristics
Strong work ethic and interpersonal skills are examples of
Characteristics employers are looking for in a job interview of college graduates are
The sum total of learned beliefs, values, and customs that serve to direct the consumer behavior of members of a particular society is
culture
These consists of the very large number of mental or verbal statements that reflect a person's particular knowledge and assessment of something
Beliefs
These are overt modes of behavior that constitute culturally approved or acceptable ways of behaving in specific situations/ usual and acceptable ways of behaving
Customs
Supranational, National, Group
levels of subjective culture
subjective cultural differences is an example of
Supranational
shared cultural characters is an example of
National
Cultural divisions or grouping is an example of
group
adults and older siblings teach young family members "how to behave" is known as _______
formal learning
A child learns primarily by imitating the behavior of selected others, such as family, friends, or tv heros is known as ______
informal learning
teachers instruct the child in an educational environment about what should be done, how it should be done, and why it should be done is known as ________
technical learning
The usage ________ used to communicate effectively with their audiences
Symbols
Content analysis focuses on the ___________
content of verbal, written, and pictorial communications
when examining a specific society, anthropologists frequently immerse themselves in the environment under study using
consumer fieldwork
Examples of field observation are that they
take place within a natural environment, are performed sometimes without the subject's awareness, and focus on observation of behavior
_______ become active members of the environment that they are studying
participant observers
The 3 criteria for selecting specific ________ must be that the values must are pervasive, enduring, and consumer related
core values
Another watchword for American society. americans respond favorably to the promise of progress because its linked to achievement, success, efficiency, and practicality is
Progress
self-reliance, self-interest, self-confidence, self-esteem, and self- fulfillment are examples of ______
Individualism
__________ is the necessary process by which the individual adapts to society
external conformity
Achievement and success
activity
efficiency and practicality
Progress
material comfort
Individualism
freedom
external conformity
humanitarianism
Youthfulness
fitness and health are all examples of ________
American Core Values
_________ is a parallel perspective to the commonly held view that america's culture is a consumer culture
Shopping culture
consumer ethnocentrism may help offset _____ in the automobile industry
country of origin
Standardized product and standardized communication program also know as a
global strategy
_____ are innovators and early adopters of technical products and have higher personal and family income and can afford the risks of buying new products
technophones
Late adopters and laggards and are uncomfortable with new technology, usually older, poorer and less educated are
Technophobes
The most widespread concern of consumer innovators when it comes to high tech products is
complexity
People can easily see the benefits
observability
To pay someone to find out is an example of
key informant method
Every member of the firm must recognize that they are ________ with marketing the firms products to customers
involved
________ is useful to both marketers and public policy makers interested in comparing the advertising claims of competitors within a specific industry
content analysis
______ are likely to select a small sample of people from a particular society and observe their behavior
consumer fieldworkers
When a social system is modern in its orientation, and the acceptance of innovations is likely to be high, the makes the innovators commercially is ________
successful
Standardized product and standardized communication program are known as ______
global marketing strategies
Customized product and standardized message is an example of
global marketing strategies
How many paths taken by those who reject cultures values are
Four
Family, Educational system, Religion,In developed societies through the mass media. (Web, television, radio, newspapers, magazines.) are the most important influences of
Socialization