Identify and briefly describe the three strategic forms of competition as presented in class Discussed as part of the External and Uncontrollable environment in the first podcast The three strategic forms of competition are Intra Company Competition Competition within the firm Inter Company Competition Competition among firms in the same industry Inter Industry Competition Competition among firms in different industries with the same customers 1 2 3 List and briefly describe the four forms of Population Change and discussed in Podcast for Chapters 3 and 4 1 Births 2 Deaths 3 Migration Immigration Emmigration 4 Life cycle Analysis Define and briefly describe the shopping category of consumer goods based on the purchase behavior scheme The shopping category of consumer goods based on the purchase behavior scheme describes goods whose selection requires visits to several stores and a lot of time and effort by the consumer Most people looking at these types of goods want someone to help them with the process in an expedited way so there are strong personal selling efforts needed Usually their shopping ads are focused on promotions on price and quality and their channels are short very selective and with little members in the system for control purposes List the four ways packaging can add to the value of a product List the three types of packaging along with an example for each type Packaging can add to the value of a product by 1 Convenience Attractiveness 2 3 Economy Promotional Appeal 4 The three types of packaging are Primary Containment Vessel ex Bottle containing water Secondary Outer Container holding the individual containment vessels ex Cartons of 15 bottled waters Tertiary Shipping Device ex Case holding cartons of bottled water 1 2 3 Briefly describe Herzberg s Theory of Motivation and provide a marketing use example Herzberg s theory of motivation says that through our mental process we will mazimize our satisfiers and minimize our disatissfiers This theory is useful in marketing and strategic planning because it s clear and straightforward and discusses the role of needs An example would be using this theory for promotional planning and techniques Define Qualifying Dimensions Identify and discuss the two basic forms of Qualifying Dimensions Qualifying dimensions are specifics that qualify a customer for a product The two basic forms are 1 Geographic Segmentation dividing a market into different geographical entities based on the notion that the consumer needs the 2 Demographic Segmentation the most popular bases for segmentation that divides a market into different groups based on item or responses will vary Ex Nations States Zip Codes demographic variables ex Age Gender Family Size 1 Marketing Management Orientations Philosophies Production Group The widget business provides a product or service for a specific nature Production Concept Assumes consumers will favor products that are more available andhighly affordable Management should therefore focus on improving production and distribution efficiency Example Henry Ford Model T Product Concept Assumes consumers will favor products that offer the most quality performance and features The organization should therefore devote its energy to making continuous product improvements to make it more efficient Concept based on the Economic Person Theory Example Bottle Opener Selling Concept Assumes consumers will not buy or not buy enough of the organizations product unless the organization undertakes a large scale selling and promotion effort Still strategically employed for the Unsought class of consumer goods Example Life Insurance Marketing Group The satisfaction business Marketing Concept Assumes that achieving organization goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effectively than competitors do Broadly implemented strategy Example L L Bean guaranteed to give 100 satisfaction in every way Marketing Concept Implications Customer needs and wants orientation An integrated marketing effort everyone has to have the same vision Customer satisfaction is the key to organizational objectives 2 Marketing and A Market Market general view The set of all actual and potential buyers of a product or service A Market precise view A point place or sphere in which the ownership of goods is affected Point geographic market area locality Example LA County market Place physical institution organization of buyers sellers Example NYSE Sphere two meanings Economic Market that determines price and exchange opportunities Ex Monopoly OR Potential Demand segments of demand for a product or service Ex Teenage Market 3 Economic Utilities 4 Societal Classification of Offerings Offerings based on the degree of immediate consumer satisfaction and long run consumer benefit Deficient Offerings have neither immediate appeal nor long run benefits low immediate satisfaction and low long run consumer benefit people don t like it ex Bad tasting and unhealthy snack Salutary Offerings have low appeal but benefit the consumer low immediate satisfaction and high long run consumer benefit ex Seatbelts for a car or helmets for motorcycles don t want to use it initially but in the long term it will do something good this often has to do with a public sector Pleasing Offerings give high immediate satisfaction but may hurt consumers in the long run high immediate satisfaction and low long run consumer benefit ex Cigarettes it s one of the major killers but it gives people satisfaction Desirable Offerings give both immediate satisfaction and high long run benefits high immediate satisfaction and high long run consumer benefit 5 Product Market Expansion Grid Company growth based markets products offers Market penetration existing market existing product offer Example Getting Pepsi drinkers to drink Pepsi for both breakfast and lunch buying more Market development new market existing product offer Example Franchising 2 different types of food businesses in the food market Product development existing market new product offer Very risky less profitable Example Automobile technology upgrades Diversification new market new product offer Very hard for success this is going into a new market and creating a brand new product 6 Forms of International Trade 7 Trade Restrictions and Fostering Trade D Trade Restrictions restrict or reduce trade Tariff a tax on revenue generally accepted in third world and foreign