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Midterm

MGMA01H3 Midterm: Quizlet Review

4 Pages
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Department
Management (MGM)
Course Code
MGMA01H3
Professor
Tarun Dewan

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Description
Mid-Term Exam Preparation Study online at quizlet.com/_3v61n3 1. Herodutus Recorded first retail trade done by the 18Develop Market a. Market which "product" LYDIANS Mixes b. Decide on the price c. Advertising/Promotions 2. Aristotle "Marketers are USELESS parasites" and created idea of LPE d. Channels of distribution 19Implement & a. Monitor the results and customer 3. Logos Logical side of reasoning, marketers can appeal to consumers by using facts or Control satisfaction Marketing statistics Activity 4. Pathos Emotional side of reasoning, marketer can 20Marketing The process by which companies create use stories or anecdotal evidence in their message to connect with consumers Definition value for customers and build strong customer relationships in order to capture 5. Ethos Ethical side of reasoning, marketers can value from in return establish credibility by leveraging keywords 21Opportunities a. Consumer and personal brands (Uncontrollable) b. Competition 6. Plato Created the "division of labour" c. Company 7. Division of Separation between producers and 22Analyze (STP's) a. Segmenting Labour consumers b. Targeting c. Positioning 8. St.Thomas Anticipated the "utilities of theory" Aquinas 23Implement a. Product (Controllable) b. Place 9. 20th Century Creation of the "utility theory and satisfaction" c. Promotion d. Price 10.Robert Bartels Created the word "marketing" in 1910 11.Lates 1950s Creation of the 4 P's and the Marketing Mix CONTINIOUS CYCLE 12.Marketing Mix 1. Discover consumer needs 24Marketing 1. Product orientation 2. Information about people's needs Evolution 2. Sales orientation 3. The market (customers) 3. Marketing orientation 13.4 P's of 1. Product 4. Relationship Marketing 2. Price 25Consumer The study of human consumption, which 3. Place Behaviour entails the acquisition, usage, and 4. Promotion disposition of goods, services, and ideas. 14.Forces Acting - Economic 26Marketing Key to achieving goals consists in on the P's - Social Concept determining the needs and wants of the - Legal target and delivering the desire effectively - Technological compared to competition. - Competitive 272. Consumer a. Consumer characteristics 15.Marketing 1. Developing marketing plans & strategies Decisions b. Consumer decision process Management 2. Understand consumers and competitors 28Consumer - Product choice 3. Develop marker mixes Decisions - Brand choice 4. Implement & control marketing activity - Dealer choice 16.Developing a. Marketing objectives - Purchase choice Marketing b. Future plans - Purchase timing Plans & c. Evaluation of businesses - Purchase amount Strategies d. Allocation of money 29Model - Marketing 17.Understand a. Research on customers Consumer - Black Box Examples Consumers & b. Segmentation Behaviour - Buyer's Choice Competitors c. Target the groups
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