Units 1 & 2 Study Guide.docx

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Northeastern University
MKTG 2201
Thomas Lerra

{Marketing Exam One Study Guide} Ethnographic research: observational research done by trained researchers in consumers’ natural environments Quota sampling: representative of population Neuromarketing techniques: using EEG or fMRI to study the brain’s reactions Customer Relationship Management: tracking individual customer throughout their interactions with company Marketing Information Systems: technology used to access info and make decisions Consumer Decision Making Process: problem recognition, information search, evaluation of alternatives, product choice, post purchase evaluation Microenvironment: company, suppliers, marketing intermediaries, competitors, publics, and customers Macroenvironment: demographic, economic, natural, technological, political, and cultural Market penetration strategy existing and existing Market development strategy new market Diversification strategy new and new Product development strategy new product New versus existing products New versus existing markets Marketing Research Define problem and objectives Develop plan Implement research plan Interpret findings Marketing Planning Define mission, evaluate environment, set organizational objectives, situation analysis, marketing objectives, monitor and control strategies, action plans developed, monitor plans’ success with metrics (ex. ROMI) {Marketing Exam Two Study Guide} Market fragmentation: the creation of many consumer groups due to the diversity of their needs and wants Psychographics: use psychological, sociological, and anthropological factors to segment a market • The markup amount is often called the gross margin, which not only covers the profit expected by the channel member, but also the fixed costs of the retailer or wholesaler. • Retailer margin and wholesaler margin are just two different names for gross margin, but specific, as the names imply, to eit
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