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Final

MKT 205 Study Guide - Final Guide: Multichannel Marketing, Institute For Operations Research And The Management Sciences, Marketing Mix


Department
Marketing
Course Code
MKT 205
Professor
Eileen Weisenbach Keller
Study Guide
Final

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All book, lecture, project, participation, discussion materials covered in Weeks 6-13. See Canvas for
complete descriptions. This is an outline. You should add and understand the details and depth to this
outline that corresponds to the grade you want to earn. If you add and understand a great deal of
detail, you will score higher on the exam. If you memorize and recognize only what is on this outline,
you should expect to achieve a grade of D or D+.
CHAPTER 11-12 - Creating Value through Supply Chain Management: Channels of Distribution, Logistics,
and Wholesaling
Types of Wholesaling Intermediaries
Consumer Channels
B2B Channels
Dual Distribution Systems - Multiple channel usage
Multichannel Marketing
Distribution Intensity
Logistics - Process of using information systems to design, manage, and improve the movement
of products through the supply chain
Value Proposition: Customers don’t “buy a product” they hire it for a job they need done
innosight.com
Customer: I am going to have to give something up to get that product so that I can get
some “job” done
Customer: Will that product satisfy my needs enough to offset what I have to give up to
get it?
Value = fx

(perceived benefits + perceived costs)
Value Proposition - People won’t buy
if they don’t understand why they should pay attention,
they pay attention only if they perceive that you have something that is meaningful or valuable
to them
SUPPLY CHAIN EXERCISES – bottled water, manufacturer -> wholesaler->retailer->consumer
CHAPTER 4 - Marketing Information and Research: Knowledge is Power
Steps in the Research Process
Exploratory Research v. Descriptive Research
Data Quality
Reliability: error free and consistent over time; repeatable with same results
Validity: ability to measure what it proposes to measure.
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CHAPTER 7 - Sharpening the Focus: Target Marketing, Positioning and CRM
Figure 7.1: Steps in the Target Marketing Process
Segmentation Marketing
Definition:
Differentiating your product, price, place and promotion (marketing efforts) to meet the needs of
specific target segment(s).
Segments - Members are different between segments but similar within.
Why Segment?
Step 1: Segmentation Dividing a larger market into smaller pieces based on one or more
meaningful, shared characteristics
Segmentation variables or bases
are used to divide the market into smaller slices
Segmentation descriptors
are used to describe the identified segments in detail
How do you determine which segment(s) to target?
Based upon the Market Research – Segmentation Descriptors are used to write the Target
Profile:
Target Profile: portrays the segment in human terms
Legitimate Segments
Significant (large enough and growing)
Accessible
Marketing (there is a way to communicate with this specific group)
Measuring (you can count members and their reactions)
Sufficiently unique (their needs are recognizably different than other groups)
Variables or Bases
—characteristics that tell us why segments differ (eg, needs, preferences,
decision processes, demographics, psychographics or behaviors).
Descriptors
—characteristics that help us find and reach segments.
Psychographics
Segmenting by Behavior - Behavioral segmentation slices consumers on the basis of how they
act toward, feel about, or use a product
Developing Segment Profiles
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