MK222 Study Guide - Spring 2018, Comprehensive Midterm Notes - Pest Analysis, Instagram, Boston
12 Oct 2018
School
Department
Course
Professor
MK222
MIDTERM EXAM
STUDY GUIDE
Fall 2018
● Themes
○ Emotion
○ Trust
○ Quality
○ Awearness
○ Price
○ Risk Reduction
○ Digital Consumption
○ Brand name/generic
■ Calling a product by a brand name eve when it is not a product of that
brand
● Band-aids
● Kleenex
● Advil
● Sandwich Cookies
○ Purchase Decisions
○ Trends
○ Category Leadership
○ Generic vs. Brands
● The 4 P’s of Marketing
○ Product
○ Price
○ Place
○ Promotion
● Marketing
○ Marketing is the activity, set of instructions, and process for creating
communicating, delivering, and exchanging offerings that have VALUE for
customer, clients, partners, and society at large
○ Goals
■ Business discipline about markets, with a focus on the exchange of food,
services and ideas
■ Aims to develop successful exchanges among customers, collaborators
and the company that drive value
● What is value?
○ Price
○ Quality
○ Positive Gain? Negative gain?
○ Durability
○ Personal assessment of the net worth obtained from an activity
○ Captures how much gratification a consumer receives from consumption
○ Utilitarian
■ Rational and practical
● Gratification derived from problem solving
find more resources at oneclass.com
find more resources at oneclass.com
● Rational explanation for purchases
● Object or activity allows something good to happen or be
accomplished
○ Hedonic
■ Emotional and Sensory
● Value derived from immediate gratification that comes from some
activity
● Value is provided by the actual experience and emotions
associated with consumption
○
● Identifying Markets - 5 C Framework
○ Context=macroenvironment (PESTLE)
■ Political
■ Economic
■ Social
■ Technological
■ Legal
■ Environmental
○Context is greater than the things that are happening at their company
(Customers, Competitors, Company, Collaborators)
○
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Calling a product by a brand name eve when it is not a product of that brand. Marketing is the activity, set of instructions, and process for creating communicating, delivering, and exchanging offerings that have value for customer, clients, partners, and society at large. Business discipline about markets , with a focus on the exchange of food, Aims to develop successful exchanges among customers, collaborators services and ideas. What is value? and the company that drive value. Personal assessment of the net worth obtained from an activity. Captures how much gratification a consumer receives from consumption. Object or activity allows something good to happen or be accomplished. Value derived from immediate gratification that comes from some activity. Value is provided by the actual experience and emotions associated with consumption. C ontext is greater than the things that are happening at their company ( c ustomers, c ompetitors, c ompany, c ollaborators)
