Chpt 5: Marketing AnalyticsCRM steps | ID cust, differentiate cust, interact with cust (improve efficiency), customize good | touchpoint | any direct interface b/w cust & company | sentiment analysis | positive/negative/neutral assoc | emotion analysis | emotional reaction to product | market basket analysis | focused promo strategies based on previous purchases | a/b test | method to test 2 variations of same thing (a vs b) | churn rate | % of cust who will no longer be cust @ end of time period | cost-per-order | cost of gaining cust in terms of mkting expense |
Chpt 6: Business & Cust Mktstypes of decisions | habitual: low involvement, low perceived risk | | | limited: | | | extended problem solving: high involvement, high percieved risk | heuristics | rules of thumb | 3 main categories of influence | internal, situational, social | internal influences | perception, motivation, learning, attitude, personality, self-esteem, lifestyle | classical conditioning | pavlov's dog | operant conditioning | rewards & punishments | behavioral learning | how consumer behavior is changed by ext stimuli | cognitive learning | internal mental processes; ppl as problem solvers | observational learning | learning from observations | affect | feelings of attitudes | cognition | knowing of attitudes | behavior | doing of attitudes | psychographics | psych, socy, anthro factors to create mkt segs | buying center | group of ppl in org who make buying decision |
| | Chpt 7: Segmentation, Target Mkting, Positioningparts of segmentation | demographics, psychographics, behavior | PRIZM | geodemographic system | geotargeting | targeted ads based on location | usage rate | quantity purchased or freq of use among | usage occassions | indicator based on when consumers use a product most | phases of targeting | eval mkt segs, develop seg profiles, choose targeting strategy, | undifferentiated targeting | appealing to broad spectrum o fppl | differentiated targeting | developing diff products for distinct cust groups; products are kept separate on mktplace | concentrated targeting | 1/+ products to single market seg | customized targeting | targets specific products & msgs ab them to individ cust | positioning | mkt strategy focused on how cust percieve a product in comparison to competitors |
Chpt 8: Innovation & New Product Developmentcore product | all benefits product will provide cust | actual product | physical good/delivered service | augmented product | actual product + supporting features (warranty, etc) | CPG/FMGG | low cost,fast moving prepack item | unsought products | products cust have little interest in until brought to attn | adopter categories | innovators, early adopters, early majority, late majority, laggards | factors in rate of adoption | relative advantage, compatibility, complexity, trialability, observability |
| | Chpt 9: Product Strategy, Branding, & Mgmtproduct line length | number of separate items in same catergory | full line | targets many cust seg | limited line | fewer product variations | upward stretching | filling line with higher priced options | two way stretching | adding higher & lower price options | filling out strategy | adding sizes or styles | cannibalization | loss of sales when new item is added | product mix | total set of all products firm offers | product mix width | number of diff product lines firm produces | intro stage | no profit bc recovering R&D costs | growth stage | profits increase & peak | maturity stage | sales peak & profit margins narrow | decline stage | market shrinks, sales fall, & profits fall | brand equity | value of brand to org (brand vs generic) | private label brands | store brands | universal product code | UPC; barcode |
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