Principles of Marketing REVIEW FOR EXAM 3 Please note that these slides are not an exhaustive list of all that we have discussed in the class so far These slides are a collection of some of the key points around which our class discussion has centered Segmentation TargetingPositioning Steps in S T P Motivating Logic Why Segment How much to Segment Pros vs Cons Different Bases of Segmentation Which Segments to Target Targeting Criteria Positioning Repositioning Perceptual Mapping Marketing Research Roles of Market Research Descriptive Diagnostic Predictive Value of Market Research Expected Value of Perfect Information EVPI Calculations The Market Research Process Defining the problem Analyzing the situation Getting problem specific data Interpreting the data Solving the problem Marketing Research Primary vs Secondary Data Quantitative vs Qualitative Research Sampling Procedures Probability vs Non probabilty Types of Research Techniques Surveys Focus Groups Scanner Panel Experimentation etc Test Marketing Product Decisions Product Mix Brands Product Items Lines Mixes Pros Cons of carrying multiple products Line Expansion Contraction Brand Equity extending brands preventing commoditization Branding Strategies Matrix Private Labels Store brands New Product Development Strategic importance of new products Steps in New Product Generation Idea Generation Idea Screening Concept Testing Product Development Market Testing Commercialization Consumer Adoption Process Diffusion of Innovations Product characteristics which aid hamper diffusion Product Life Cycle PLC Stages Characteristics of each stage consumer behavior competitive activity marketing spend price profitability Services Marketing All businesses have some service component Core Product Service Supplementary Service Characteristics that differentiate Services from Products Intangibility Inseparability Variability Perishability Marketing implications of these differences Services Marketing Expanded mix for Services The Traditional 4 Ps People Processes Physical Evidence The Gap Model of Service Quality