Term
| What are the key characterists of a good SIS? |
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Definition
Flexibility
Retrievability
Recency
Regenerativeness - to be able to regenerate new info based on new data. Generality and specificity |
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Term
| What are the three types of marketing inputs? |
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Definition
Facts - i.e., How often to you grocery shop?
Attitudes - intensity of acivity (like or dislike). How do you like something? Motives - subconscience response. examples are sentence completion, word association, cartoon list, and story telling. |
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Term
| What is the structure of a Strategic Information System (SIS)? |
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Definition
Direct --> Collect --> Process --> Generate --> Disseminiate --> Use This cycles operates in a constant loop due to feedback and redirection. |
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Term
| Explain Product-Market Growth Directions |
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Definition
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Term
| What are the 11 counterchaos marketing strategies as described in Samli's book? |
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Definition
- Manage the transition
- Build resilience
- Destabilize the system
- Manage order and disorder
- Create and maintain a learning organization
- Utilize bifurcation as a tool
- Find the ways to promote renewal
- Manage transformation carefully
- Pay special attention to disruptive technologies
- Explore latent demands of consumers carefully
- Be ready for sudden and unexpected economic recession
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Term
| What are 11 chaos-causing forces and their impact? |
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Definition
- Globalization - the internet
- Technology - the cell phone
- Competition - auto industry in domestic and international markets
- Speed - Fax or Internet
- Complexity - Computer software
- Power Structures - Results of merger mania
- Lifestyles - Low fat diet
- Downsizing - Flattening organizations
- Managerial Inflection Points - the change from mainframe to PCs.
- Disruptive Technologies - Microminiaturized production process.
- Unexpected Economic Downturns- Plant closings.
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Term
| What is organizational learning? |
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Definition
| Learning as a function of time |
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Term
| What is a learning organization? |
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Definition
| an organization that takes learning as a strategy by gathering information quickly and effectively. |
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Term
| What are the 4 P's of Marketing? |
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Definition
Promotion Place Price Product |
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Term
| What are two types of forecasting? |
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Definition
SFI - Single Factor Index MFI - Multiple Factor Index |
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Term
| Name and explain six market research techniques. |
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Definition
Surveys - telephone, mail, internet, personal interviews (expensive) Observations - very practical. how much traffic? also very subjective observations like observing a sales person. Experimentation - experimental area a.k.a test area Simulation - computer generated data; less costly; possibly more accurate; didn't catch on as much Historical Analysis - a.k.a. trend analysis; good to find out how we got here, BUT future is not a continuation of present. Inferential - Extrapolating from the known into the unknown; asking the right questios like how often do you go to the movies? information based on experiences. |
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Term
| What are the characterisics of an experimental area or test area? |
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Definition
- Reflects national market
- Economically independent
- Economically diversified
- Good feel for product users
- User should be progressive
NOTE: pretesting an advertising campaign in a test market is very economical. |
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Term
| What are the definitions for secondary, primary, and syndicated data? |
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Definition
Secondary data is free and exists at libraries and internet. Primary data is costly and consists of questionaires and interviews. Syndicated data are available are available for purchase. |
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Term
| Is the market heterogenious or homogenious? |
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Definition
| The market is heterogenous. |
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Term
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Definition
| It's where a few companies control 50 - 60% of a market. i.e, oil companies. |
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Term
| what does Monopolistic Competition mean? |
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Definition
| It means each firm is almost like a monopoly on its own. The retail industry fits this. It depends on how well the company differentiates itself. |
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Term
| What marketing strategy should you take if your firm is in an oligopolistic situation? |
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Definition
| It should look at competitors first and the market second. |
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Term
| What marketing strategy should you take if your firm is in an monopolistic situation? |
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Definition
| It shold look at the market first and the competition second. |
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Term
| What is market forecasting? |
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Definition
| Market forecasting means determining market potential some time in the future. |
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Term
| What are 3 major forecasting orientations? |
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Definition
Systematic - GNP Symptomatic - "according to leading indicators" - Samli preferred technique.
Deterministic - econometrics forecasting; expensive
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Term
| What are 3 type of symptomatic orientation indicators? |
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Definition
Leading - what is likely to happen in 6 months? Lagging - what has happened in 6 months? Coinciding - ongoing activity.
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Term
| What does market skimming mean? |
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Definition
| Targeting the "cream of the crop" customers. Customers that will pay top dollar to be the first to own your product. |
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Term
| What is market penetration? |
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Definition
Depth of sales of a particular product in a given market. The deeper the penetration, the higher the volume of product sales. In order to expand the sales of current products in markets where their products are already being sold, marketers utilize market penetration strategies such as cutting prices, increasing advertising, obtaining better store or shelf positions for their products, or innovative distribution tactics. |
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Term
| How does marketing relate to QOL (Quality of Life)? |
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Definition
| The goal of marketing is to add value to the product product we are selling with the intent of enhancing our lives for the better. |
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Term
| What's an example of substitability? |
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Definition
| Substituting Black and White TV with Color TV. |
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Term
| What's an example of complimentary product? |
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Definition
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Term
| What does Diffused Preference mean? |
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Definition
| Within a given market segment preferences are the same; Outside the market segment they are different. |
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