GSU MK 3010 - Exam 2 Study Guide (9 pages)

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Exam 2 Study Guide

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Exam 2 Study Guide


This is a study guide for ch. 9-12 and ch. 14 It has all vocab and examples from teacher in class.

Study Guide
Georgia State University
Mk 3010 - Basic Marketing
Basic Marketing Documents

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MK3010 1st Edition Exam 2 Study Guide Lectures 11 17 Lecture 11 September 30 Ch 9 1 Segmentation process of diving a large market into smaller target markets or customer groups with similar needs and or desires 2 Segmentation Methods Geographic Demographic Psychographic Benefits Behavioral Occasion and Loyalty 3 Psychographic Segmentation Social Class upper middle working and lower class Personality Organized artistic Lifestyles healthy interests 4 Behavioral Occasion buy different things for funeral or wedding Behavioral Loyalty keep buying that same brand rewards program at Kroger 5 Evaluate Segment Attractiveness Substantial Reachable Identifiable Profitable and Responsive Identifiable who is in their market Segment need to be large enough to be meaningful Substantial too small and it is insignificant Reachable know the product exists recognize how to buy and understand what it can do Responsive customers must react positively to a firm s offering and move toward the firm s product or service 6 Target Marketing Differentiated Concentrated Micromarketing or One to One Undifferentiated or Mass Marketing Lecture 12 Oct 2 Ch 9 7 Develop Positioning Strategies Value Salient Attributes Things customers value Symbol apple logo think good product and trendy Competition dunkin donuts vs starbucks coffee Lecture 13 Oct 7th Ch 10 1 Marketing Research consist of a set of techniques and principles for systematically collecting recording analyzing and interpreting data that can aid decision makers involved in marketing good services or ideas The marketing research process 1 Define the objectives and research needs 2 Design the research 3 Data collection process 4 Analyze data and develop insights 5 Action plan and implementation Step 1 Determine the objective and decide what information is needed to answer specific research questions Step 2 Identify the type of data needed and determine the type of research necessary to collect it Step 3 Secondary Data Info that already exits

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