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Textbook Notes for MKT 337 at University of Texas at Austin

Principles of Marketing

Exam Study Guides for MKT 337

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MKT 337 Chapter Notes - Chapter 7: North American Industry Classification System, North American Free Trade Agreement, Industry Classification
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7.5 North American Industry Classification System North American Industry Classification System (NAICS): a system for classifying North American business establishments • introduced in 1997 to replace the standard in...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 7: Search Engine Optimization, Display Advertising, Retail
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7.2 Trends in B-2-B Internet Marketing B-to-B companies are increasingly leveraging the Internet as an effective sales and promotion platform (much like B-to-C companies have done for decades). B-to-B companies use the...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 7: Keiretsu, Toyota Group, The Anatomy Of Dependence
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7.3 Relationship Marketing and Strategic Alliances Relationship marketing is a strategy that entails seeking and establishing ongoing partnerships with customers. • Loyal customers are also more profitable than those ...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 7: Apple Watch, Bulldozer, Personal Selling
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7.7 Types of Business Products Business products generally fall into one of the following seven categories, depending on their use: 1. major equipment 2. accessory equipment 3. raw materials 4. component parts ...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 7: Dow Chemical Company
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7.4 Major Categories of Business Customers The business market consists of four major categories of customers: 1. Producers 2. Resellers 3. Governments 4. Institutions. Producers • profit-oriented individu...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 7: Kodak, Business Marketing
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7.1 What is Business Marketing • Business marketing (also called industrial, business-to-business, B-to-B, or B2B marketing) is the marketing of goods and services to individuals and organizations for ...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter 7: 7.6 Business v. Consumer Markets
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7.6 Business v. Consumer Markets The basic philosophy and practice of marketing are the same whether the customer is a business organization or a consumer. • Business markets do, however, have characteristics differen...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Disposable And Discretionary Income
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6.6 Cultural Influences on Consumer Buying Decisions Of all the factors that affect consumer decision making, cultural factors exert the broadest and deepest influence. Marketers must understand the way people’s culture ...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Reference Group
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6.7 Social Influences on Consumer Buying Decisions Many consumers seek out the opinions of others to reduce their search and evaluation effort or uncertainty, especially as the perceived risk of the decision increases. ...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Wi-Fi, Tripadvisor, Yelp
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6.5 Re-conceptualizing the Consumer Decision Making Process Rapid changes in digital technology have given consumers unprecedented power to express likes and dislikes, compare prices, find the best deals, sift through hu...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter 6: 6.8 Individual Influence on Consumer Buying Decisions
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6.8 Individual Influence on Consumer Buying Decisions While individuality impacts a person’s susceptibility to social influences, factors such as gender, age, life cycle stage, personality, self-concept, and lifestyle al...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Retina Display, Macbook Pro, Asus
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6.9 Psychological decisions on Consumer Buying Decisions An individual’s buying decisions are further influenced by psychological factors: perception, motivation, and learning. These factors are tools consumers use to ...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Genius Bar, Cognitive Dissonance
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6.3 Post-purchase behavior When buying products, consumers expect certain outcomes from the purchase. When people recognize inconsistency between their values or opinions and their behavior, they tend to feel an inner t...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Latte, Starbucks
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6.2 The Traditional Consumer Decision-Making Process When buying products, particularly new or expensive items, consumers generally follow the consumer decision-making process : (1) need recognition, (2) information sear...

Marketing
MKT 337
A Gabbi
MKT 337 Chapter Notes - Chapter 6: Washing Machine, Consumer Behaviour, Marketing Mix
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6.1 The Importance of Understanding Consumer Behavior Consumers’ product and service preferences are constantly changing. Marketing managers must understand these desires in order to create a proper marketing mix for a...

Marketing
MKT 337
A Gabbi

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