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Midterm

COMM101 Study Guide - Midterm Guide: Direct Market


Department
Commerce
Course Code
COMM101
Professor
Laura Allan
Study Guide
Midterm

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Marketing: Understanding The Customer
Packaging
Branding
Distribution
Integrated system: all the decisions you make about
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Marketing
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O: Outcome (Reward)
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P: Perception (How you want to be perceived by customer, public, stakeholder)
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I: Idea: What does your product do?
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T: Target: How to segment, how to reach?
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5 Drivers of the Core Value Proposition (BOP-IT)
Generating profits
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Focusing on customer wants/needs
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Integrating all of the organizations activities to satisfy these wants/need
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Legally and satisfactorily
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Marketing Concept
Differential Competitive Advantage (unique) i.e. Younique
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Technically only one business can in a market
Cost Competitive (lowest cost)
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Niche Market Competitive Advantage (Target a single segment)
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Competitive Advantage
Need recognition
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Information search
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Evaluation of alternatives
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Purchase
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Post-Purchase behaviour (repeat buy, reviews etc,etc)
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Consumer Decision Making Process
(multiple choice: b2c vs b2b)
Purchase Volume: Business is in much higher volumes
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Number of Customers - business marketers have far fewer customers
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Location of Buyers business customers are much more geographically concentrated
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Direct Distribution - directly to the buyer vs using intermediaries for consumers
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Business to Business vs. Business to Consumer
Social Media & Mobile
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Loyalty Cards
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Green & Social Marketing
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Trends
SOS Session
February 24, 2016
10:24 PM
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