2ma 3 review
October 18 5:30-630
Chapter one: creating value and utility
Type of utility
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
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
Strategic and tactical planning
Porters 5 force model
SWOT analysis (vulnerability, constraints, leverage and problem)
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
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