MKT 3401: THOMAS KARAM FINAL QUESTIONS
What is the main thing you need to be in order to be able to sell yourself? - Answer -
Likable
What is likability? - Answer -The emotional impact you have on someone
- The ability to get people to look at you & pay attention to you & hopefully get them to
do what your asking them to do
38% of the impact you have is determined by what? - Answer -Vocal Delivery
55% of the impact you have is determined by what? - Answer -Visual Delivery
7% of the impact you have is determined by what? - Answer -Verbal Arrangement
What does "Thin Slice" mean? - Answer -the ability to look at someone for 10 seconds
and have an accurate opinion of them as if you were with he or she for an hour.
What is the personal branding formula? - Answer -P1+P2+VxT
-P1: Performance
-P2: Personality
-V: Visibility
-T: Trust
What is the Marketing Management Philosophy? - Answer -- Product Orientation
- Sales Orientation
- Marketing Orientation
- Societal Orientation
Toms Shoes used what type of Orientation? - Answer -Societal
What did Levi's jeans fail in (in relation to external environment)? - Answer -Social
Factors
What factors resulted in circular doorknobs (external environment) - Answer -Legal
issues
What is the Critical Marketing Concept? - Answer --Create customer value
-Customer Satisfaction
-Developing & Maintaing Relationships
What is the customer value formula? - Answer -CV=Benefits- Cost
, what percentage of people, who have a bad experience as a customer, will tell at least
one person? - Answer -77%
what percentage of people, who have a bad experience as a customer, will tell the
service provider? - Answer -7%
what percentage of people, will change their purchase decision based upon the
indifference of one person? - Answer -63%
What is a Mystery Shopper? - Answer -someone who is hired by a company to come in
and act like a customer and evaluate the atmosphere (like hotels, rental cars, gyms,
etc.)
What are the types of dissatisfied customers? - Answer --Angry
-Silent / Remorseful
Why is Customer Service important? - Answer --Referrals
-Less Selling Efforts
-Premium Pricing
Why do customers switch? - Answer --Core Service Failure
- Service Encounter Failure
- Price
- Inconvenience
- Attraction from competition
What is the Marketing Strategy Framework? - Answer --Level 1: Market Analysis
- Level 2: Strategy Development
-Level 3: Implementation
What does Market Analysis involve? - Answer -Analysis of:
-Company
- Customer
- Competition
- Conditions
What does Strategy Development involve? - Answer -- Segmentation Criteria
- Target Market
- Positioning
Segmentation Criteria refers to what? - Answer -- Are they Identifiably
- Are they Accessible
- Are they responsive
- Are they substantive → is it big enough
What are the types of Target Markets? - Answer --Mass Market
What is the main thing you need to be in order to be able to sell yourself? - Answer -
Likable
What is likability? - Answer -The emotional impact you have on someone
- The ability to get people to look at you & pay attention to you & hopefully get them to
do what your asking them to do
38% of the impact you have is determined by what? - Answer -Vocal Delivery
55% of the impact you have is determined by what? - Answer -Visual Delivery
7% of the impact you have is determined by what? - Answer -Verbal Arrangement
What does "Thin Slice" mean? - Answer -the ability to look at someone for 10 seconds
and have an accurate opinion of them as if you were with he or she for an hour.
What is the personal branding formula? - Answer -P1+P2+VxT
-P1: Performance
-P2: Personality
-V: Visibility
-T: Trust
What is the Marketing Management Philosophy? - Answer -- Product Orientation
- Sales Orientation
- Marketing Orientation
- Societal Orientation
Toms Shoes used what type of Orientation? - Answer -Societal
What did Levi's jeans fail in (in relation to external environment)? - Answer -Social
Factors
What factors resulted in circular doorknobs (external environment) - Answer -Legal
issues
What is the Critical Marketing Concept? - Answer --Create customer value
-Customer Satisfaction
-Developing & Maintaing Relationships
What is the customer value formula? - Answer -CV=Benefits- Cost
, what percentage of people, who have a bad experience as a customer, will tell at least
one person? - Answer -77%
what percentage of people, who have a bad experience as a customer, will tell the
service provider? - Answer -7%
what percentage of people, will change their purchase decision based upon the
indifference of one person? - Answer -63%
What is a Mystery Shopper? - Answer -someone who is hired by a company to come in
and act like a customer and evaluate the atmosphere (like hotels, rental cars, gyms,
etc.)
What are the types of dissatisfied customers? - Answer --Angry
-Silent / Remorseful
Why is Customer Service important? - Answer --Referrals
-Less Selling Efforts
-Premium Pricing
Why do customers switch? - Answer --Core Service Failure
- Service Encounter Failure
- Price
- Inconvenience
- Attraction from competition
What is the Marketing Strategy Framework? - Answer --Level 1: Market Analysis
- Level 2: Strategy Development
-Level 3: Implementation
What does Market Analysis involve? - Answer -Analysis of:
-Company
- Customer
- Competition
- Conditions
What does Strategy Development involve? - Answer -- Segmentation Criteria
- Target Market
- Positioning
Segmentation Criteria refers to what? - Answer -- Are they Identifiably
- Are they Accessible
- Are they responsive
- Are they substantive → is it big enough
What are the types of Target Markets? - Answer --Mass Market
