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2ma 3 test review .docx

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Department
Commerce
Course
COMMERCE 2MA3
Professor
Joe Kim
Semester
Fall

Description
2ma 3 review October 18 5:30-630 CNH 104 35 MC Chapter one: creating value and utility Type of utility Hambuger: time Ownership: buy a car Globalization impacting marketing Four eras of marketing (transition and years) Sales and marketing, production and relationship( idea of year) What cost the shift ear, because customer become more powerful, many things improve. Needs, want and marketing myopia: concerted on customer instead of product. Non-traditional marketing- examples: famous people, person marketing. Place marketing, organization marketing, event marketing. Relationship marketing: maintain the information about your customers. Advocates Vs NEW CUSTOMERS Social and buzz marketing Social marketing: use social media to promote their product. Buzz marketing: the poster and words of mouth. Ethics and social responsibility Chapter two: Strategic and tactical planning Porters 5 force model SWOT analysis (vulnerability, constraints, leverage and problem) Strategic window First mover and second mover strategy Marketing strategy- target market, marketing mix(4p) Rule of three BCG analysis-stars, question marks, cash cows, dogs Market penetration, market development, product development, diversification Environment scanning-examples Competition examples- oligopoly, monopoly, direct and indirect Government regulation-competitive act(components), consumer protection, direct seller act, CRTC, NEB, PETA, ASC CHAPTER THREE: Economic environment –GDP, business cycle (all four phase), inflation/deflation, unemployment, discretionary income, demarketing, Technological and social/cultural env Legal vs ethnical vs social responsibility Core values and micro culture Asch phenomenon, opinion leader, trendsetter Roles of spouse in household (4 Maslow theory of need, perceptual screen, components of
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