BUSI406 MIDTERM UNC CLAUDIA
3 Cs company, customer and competition
4 Ps Product, price, place, promotion
1. Defining the problem
2. Analyzing the situation
5-step Marketing Research Process 3. Getting problem-specific data
4. Interpreting the data
5. Solving the problem
Accumulating collecting products from many small producers
the expense required to acquire a new customer
acquisition cost - X amount you spend on ads/marketing plan divided by Y amount of new
customers attracted
Some to good amount of cooperation, some data and info sharing, control
Administered Vertical marketing systems
maintained by economic power and leadership. EX GE, MillerCoors
Adoption process awareness, interest, evaluation, trial, decision, confirmation
any paid form of non-personal presentation and promotion of ideas, good
advertising
services by an identified sponsor
, BUSI406 MIDTERM UNC CLAUDIA
Dissonance- a feeling of uncertainty about whether the correct decision wa
made
After the purchasee factors in consumer
Consumers talk to one another- bad does more harm than benefits of the g
behavior
Adoption process- how individuals accept or reject a new idea
Awareness, interest, evaluation, trial, decision, confirmation
making a machine behave in ways that would be called intelligent if a huma
artificial intelligence
were so behaving
putting together a variety of products to give a target market what it wants
Assorting
Usually done by those closest to final consumer.
point of view
· Subjective, perception
Attitude · Harder to change since its subjective
· Would rather work with positive attitudes and increase consumer loyalty
- action oriented
automatic vending selling and delivering products through vending machines
, BUSI406 MIDTERM UNC CLAUDIA
Any buyers who buy for resale or to produce other goods and services
- Business making purchases that help their business and their customers
- Larger than the consumer market
1. More money spent
- Fewer businesses than there are consumers
- Satisfy needs of customers and focus on economic factors more than B2C
B2B Market does
1. Look more at cost savings
- Customers can be very large
1. Can make significant purchase and want to satisfy the needs of the custo
more
- B2b can customize their marketing mix to a single customer
1. Bc the customer means that much to that business
-standardized buying process
- Customers' needs drive everything
Basics of a marketing oriented company - Marketing concept
- Production oriented; based on product making what markets want
, BUSI406 MIDTERM UNC CLAUDIA
§ STARS - very valuable and receive
investments, command more profitability
§ DOGS - divested bc they are no longer
growing
§ COW - "milk the cow" extract profitability but
do not invest more into it
BCG Growth Share Matrix · Overtime cows become dogs
§ QUESTION MARK - low market hsare but
market is growing
· Why do we have a low market share?
o Do we need to put more resources to make it
a star?
· ID the weakness and correct it
Relevant such security, status, and sense of accomplishment
- Purchasing people in businesses are seen as forward thinkers (want to be
Behavioral Factors with B2B
first to try new products)
- Marketers want to lower risk for buyers
Objective
· Can have beliefs that are incorrect
Belief o Can be corrected when shown correct factual info
o Marketers care that customer have the correct beliefs
· Easy to change a belief
3 Cs company, customer and competition
4 Ps Product, price, place, promotion
1. Defining the problem
2. Analyzing the situation
5-step Marketing Research Process 3. Getting problem-specific data
4. Interpreting the data
5. Solving the problem
Accumulating collecting products from many small producers
the expense required to acquire a new customer
acquisition cost - X amount you spend on ads/marketing plan divided by Y amount of new
customers attracted
Some to good amount of cooperation, some data and info sharing, control
Administered Vertical marketing systems
maintained by economic power and leadership. EX GE, MillerCoors
Adoption process awareness, interest, evaluation, trial, decision, confirmation
any paid form of non-personal presentation and promotion of ideas, good
advertising
services by an identified sponsor
, BUSI406 MIDTERM UNC CLAUDIA
Dissonance- a feeling of uncertainty about whether the correct decision wa
made
After the purchasee factors in consumer
Consumers talk to one another- bad does more harm than benefits of the g
behavior
Adoption process- how individuals accept or reject a new idea
Awareness, interest, evaluation, trial, decision, confirmation
making a machine behave in ways that would be called intelligent if a huma
artificial intelligence
were so behaving
putting together a variety of products to give a target market what it wants
Assorting
Usually done by those closest to final consumer.
point of view
· Subjective, perception
Attitude · Harder to change since its subjective
· Would rather work with positive attitudes and increase consumer loyalty
- action oriented
automatic vending selling and delivering products through vending machines
, BUSI406 MIDTERM UNC CLAUDIA
Any buyers who buy for resale or to produce other goods and services
- Business making purchases that help their business and their customers
- Larger than the consumer market
1. More money spent
- Fewer businesses than there are consumers
- Satisfy needs of customers and focus on economic factors more than B2C
B2B Market does
1. Look more at cost savings
- Customers can be very large
1. Can make significant purchase and want to satisfy the needs of the custo
more
- B2b can customize their marketing mix to a single customer
1. Bc the customer means that much to that business
-standardized buying process
- Customers' needs drive everything
Basics of a marketing oriented company - Marketing concept
- Production oriented; based on product making what markets want
, BUSI406 MIDTERM UNC CLAUDIA
§ STARS - very valuable and receive
investments, command more profitability
§ DOGS - divested bc they are no longer
growing
§ COW - "milk the cow" extract profitability but
do not invest more into it
BCG Growth Share Matrix · Overtime cows become dogs
§ QUESTION MARK - low market hsare but
market is growing
· Why do we have a low market share?
o Do we need to put more resources to make it
a star?
· ID the weakness and correct it
Relevant such security, status, and sense of accomplishment
- Purchasing people in businesses are seen as forward thinkers (want to be
Behavioral Factors with B2B
first to try new products)
- Marketers want to lower risk for buyers
Objective
· Can have beliefs that are incorrect
Belief o Can be corrected when shown correct factual info
o Marketers care that customer have the correct beliefs
· Easy to change a belief
