ACU MKTG 320 Reynolds Final

2 primary types of differentiation
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Terms in this set (47)
2 types of good qualities for consumers found in ads1) search qualities 2) experiential qualitieswhat can ads lower the price of?1) searching costs 2) switching costs 3) market pricecommon inputs1) land 2) labor 3) capitalsources of economic growth1) resources 2) institutions 3) technologytypes of resources1) natural 2) physical 3) human4 market structures1) perfect competition 2) monopolistic competition 3) oligopoly 4) monopolyAspinwall's theory of a good1) replacement rate 2) gross margin 3) adjustments/differentiation 4) time of consumption 5) search timetypes of thinking1) reflective 2) critical 3) creativenegotiation style1) avoidance 2) advertisement/competitive 3) accommodative/compromise 4) collaborativeSWOT analysisStrengths Weaknesses Opportunities ThreatsPESTLEPolitical Economic Sociocultural Technological Legal Environmentalbest indicator of the state of the economyreal GDP per capita growth ratesKouzer and Posner's 5 practices of exemplary leadership1) model the way 2) inspire a shared vision 3) challenge the process 4) enable others to act 5) encourage the heartAdair's 8 functions of leadership1) defining task 2) planning 3) briefing the team 4) controlling what happens next 5) evaluate results 6) motivating 7) organizing people 8) setting the examplePorter's 5 forces1) buyer power 2) supplier power 3) competitive rivalry 4) threat of substitution 5) threat of new entrantsPoter's generic strategies1) cost leadership 2) product differentiation 3) focus3 basic target marketing strategies1) mass marketing 2) differentiate marketing 3) concentration marketingMcGregor's Theory X and Theory YTheory X - EXTERNAL MOTIVATION (the assumption that employees dislike work, are lazy, avoid responsibility, and must be coerced to perform) Theory Y - INTERNAL MOTIVATION (the assumption that employees are creative, enjoy work, seek responsibility, and can exercise self-direction)primary base of organizational structure1) functional 2) geographic 3) product lineEisenhower BoxDO - urgent and important DECIDE - not urgent and important DELEGATE - not important and urgent DELETE - not important and not urgentBoston Consulting Group MatrixQUESTION MARKS - low market share and high market growth STARS - high market share and high market growth DOGS - low market share and low market growth CASH COWS - high market share and low market growthtime managementmaximize PRODUCT time, minimize OPPORTUNITY COSTthinking style of management1) strategic 2) tactical 3) operationalSMART goalsSpecific Measurable Attainable Realistic Timelymanagers manage time for1) land 2) labor 3) capitallevels of management1) top 2) middle 3) first-linethe 4 P's1) Price 2) Product 3) Place 4) Promotion4 types of market segmentation1) demographic 2) psychographic 3) geographic 4) behavioral5 types of channel members1) wholesalers 2) retailers 3) agents 4) consumers 5) manufacturers7 facilitating agents1) financial 2) advertising 3) market share 4) transportation 5) insurance 6) process 7) store4 phases of the product life cycle1) introduction 2) growth 3) maturation 4) saturation/declinelevels of organizational behavior for: 1) behaviors of INDIVIDUALS within a business 2) behaviors within WORK GROUPS within a business 3) behaviors of ORGANIZATIONS interacting within society1) micro 2) meso 3) macrothings that compromise organizational culture1) artifacts 2) behaviors 3) assumptions 4) written out rulesDeming's wheel1) plan 2) do 3) check 4) act/adjustmarket management process1) product orientation 2) sales orientation 3) market orientation 4) social orientationbasic business analytics1) gather or mine data 2) filter/sort or refine 3) analyze or interpret 4) make discussions based on analysisSchumpeter's Galeidea of creative destruction