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MKT 3413 (98% on the test)


Department
Marketing
Course Code
MKT 3413
Professor
All
Study Guide
Quiz

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MKT 3413 08/22/2011
CHAP 1
You have been hired by hungry howie pizza to manage its unit on Nicholson in baton rouge. How can you
get LSU students to
what is the LSU student target market for hungry howie’s pizza?
Demographic profile
Life style profile
Why do LSU students like hungry howies?
How do you get LSU student to buy more hungry howie’s pizza?
4 BASIC MKTING ACTIVITIES:
PLACE- where you distribute the product
PRICE-
PRODUCT- the design, features, benefits of the product
PROMOTION- advertising, etc.
MARKETING CONCEPT:
You have competitive advantage, and have a product that ppl like.
MARKET SEGMENTATION- different market segments
TARGET MARKETING- different brands are targeted to different segments of the market
MARKETING STRATEGY- marketing plan
HISTORY OF MKTING:
Original marketing definition- marketing is the perf of business activities that direct the FLOW of GOODs
and SERVICES from producers to consumers.
- 1985 def of mkting changed-----mkt is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy
individual and organizational objectives.
-2004, changed again----mkt is an org function and a set of processes for creating, comm, and
delivering value to customers and for managing RELATIONSHIPS between the customer and the
brand.

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--2007---exchanging offerings that have value to customers, clients, and SOCIETY at large!
EXPERIENTIAL/SOCIETAL MKT (give them a good experience and it will spill over to the brand).
(MKT definitions REDEFINES ITSELF every 5 YEARS)
--next year it will probably be SOCIAL MEDIA marketing!
CHARACTERISTICS OF MKT RESEARCH:
SYSTEMATIC- step by step
OBJECTIVE- we want to be as accurate as possible
APPLIED TO MKT PROBLEMS-
- ERROR PRONE- we do not want to make mistakes (some things are more error prone than others)
- TIME SENSITIVE- the mgmer always want it NOW!
- BUDGET CONSTRAINED- we always try to spend wisely
HOW CAN MARKETING RESEARCH HELP RAISING CANE’S:
It was an LSU student who made raising canes, they started at LSU campuses, then other campuses
(stayed in comfort zone) then finally branched out.
INFO & MKT DECISIONS:
More info is more desirable than less information
Relevant info is necessary
Info tells you how likely something is to happen (its probability)
Info increases your confidence that you are making the right decision.
WHAT’S HOT IN MARKETING RESEARCH:
Mkt research s being profoundly affected and changed by:
1. Technology
2. Societal change
3. Globalization
--ONLINE MKT RESEARCH- the use of computer networks, including the internet, to assist in any phase of
the mkt …
reasons for online mkt research exploding
new tools

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faster
easier
cheaper
--SOCIETAL TRENDS
Growing Consumer/Respondent Resentment
Telemarketers’ damage
Right of privacy
Increasing refusal rates
Social networking
Depositories of info
Trails of info
New methodologies
--GLOBALIZATION
The largest marketing research firm in the world is the NIELSEN COMPANY (US) which has subsidiaries in
108 countries.
10 of the top 25 mkt research companies (based on revenues) are not US companies
about ½ (55%) of mkt research is done in countries other than the home country of the top 25 research
firms!!!
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