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78 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What are the three different ways information is acquired? |
Bottom-up: new information and you're trying to make sense of it e.g. new lingo. Top-Down: Guided by existing knowledge e.g. first and last letter gives you the word. Perception: Select, organize, and interpret information. |
New language... |
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What is the consumer decision making process? How does it go? |
- need recognition - information search - evaluation of alternatives - product choice - post-purchase |
I need it! where is it? |
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What does (aggregate) 'Macro' analysis include? |
Factors affecting growth, size, buying power, demographics. |
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What does (aggregate) 'micro' analysis include? |
Personal factors, motivation, attitudes, beliefs. |
Micro being a small scale. |
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The 4 P's are regarded as what in the model of consumer behavior? |
Marketing stimuli. |
What is it to consumers? |
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How is a 'filter defined' in the model of consumer behavior? |
It is the subjective standards and beliefs that are established in a consumers mind pre-consideration of any product, service, or campaign. |
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What is the last step in the model of consumer's behavior? |
Buyer's response. |
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If Dapple copies the leading firm "Apple" to obtain market share. Dapple is considered a... |
Market Follower. |
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Ponda Inc.'s main concerns include finding new uses and users for their product in order to expand the market. Ponda Inc.'s role in the market is likely to be.. |
A Market leader. |
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You are hired as a consultant for OnePlus Inc. (Market Challenger). What tactics could you suggest? |
Flank, Frontal, Guerilla, Encircle. |
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In 2012, Samsung persuaded apple consumers lined up for the new iPhone 5 that the s3 was better than televised the footage. This was an example of what tactic? |
Full Frontal. |
Samsung is a market Challenger. |
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What determines what the advertising message will say? |
The creative strategy. |
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How do you set up a creative brief from a marketing plan? |
Understand the role of advertising Identify the target audience |
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In the Thompson Target Plan of the Creative Brief, it is asked 'What is the tone and manner?'. What else is 'asked'? |
- Who is the target person - What problem is the advertisement trying to solve - What is the key response |
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What are some of the FIVE problems (objectives) that an advertisement may target? |
- Immediate Sales - Generate Trial - Problem Solution - Change Attitudes - Reinforce Attitudes |
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If after watching an advertisement, Pankaj goes 'Why that's actually a pretty good idea! Its.. perfect for me.' What is the key response? (of the advertisement) |
Problem Solution |
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If after watching an advertisement, Pankaj goes 'Yup! I AM Canadian' What is the key response? (of the advertisement) |
Reinforce Attitudes. |
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If after watching an advertisement, Pankaj goes 'Hmmm, I wonder what this is all about?' What is the key response? (of the advertisement) |
Generate Trial |
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If after watching an advertisement, Pankaj goes 'Wow, I never knew THAT many men cared about their hair!' What is the key response? (of the advertisement) |
Change attitudes. |
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In one creative brief you note that it radiates a vibe of warmth and full of heart while another was rather based on efficiency. What factor would you say the two differ on? |
Tone and manner. |
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If Dell were a person he'd probably be a rather decent looking yet smart man who thinks rationally, this is an example of what? |
Tone and manner. |
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If Black and Decker were a person.. which one of these sports is is likely to play? |
4) Football |
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In the evaluation of the creative strategy, the magnitude of which an ad is able to drag one's eye off the road and onto a billboard is referred as... |
Stopping power. |
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In the evaluation of the creative strategy, the magnitude of which a driver agrees with a billboard and follows up with a relative action is referred as... |
Persuasive power. |
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Dell realizes it will cooperate with EMC and create a revolutionary campaign to allow themselves to part ways from the other PC's, then they build a budget around it. This is referred to as what method of budgeting? |
Bottom-up method - based on the objective and task |
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HP realizes it has $29000000 to launch a campaign and therefore begins planning on what it will do.. this is referred to as what kind of budgeting method? |
top-down method. Ensuring its affordable, making it in coordination with competition. |
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Frequency is defined as the # of times an object is exposed to an ad. How is reach defined? What is the third media vehicle? |
Reach is defined as the % of target audience exposed to your ad the third concept - Impact - is the qualitative value of each exposure. |
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If Apple has a 25 market segments, gross ratings points of 35, and a reach of 5, its frequency is to be.. |
7 GRP=reach*frequency |
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FanDuel decided to endorse many youtubers at once, what tactic of ad scheduling is this? |
Blitz. |
Definitely not pulsing... |
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A coordinatedeffort to promote a brand through the use of multiple communication tools that“speak with a single voice” as a way to provide clarity, consistency, andmaximum communications impact is labelled as... |
Integrated Market Communications. |
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If the board of directors of bmw conclude that they must deduct their prices due to Mercedes Benz. It is clear to say their pricing decision was effected by what kind of factor? |
External. |
Inside or outside? |
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Increasing the price in order to cover greater costs is an example what kind of factor of pricing decision? |
Internal |
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Name an external pricing decision factor. |
Nature of product, market, competition, environmental factors |
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Describe the 'marketing objective' internal factor of pricing decision. |
Based on survival, profit maximization, social pricing. |
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Inflation is what kind of pricing decision factor? |
External; environmental. |
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What are the three types of pricing bases? (Based on x,y,z) |
Cost-based Buyer-based Competition based |
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Break down the competition based pricing. |
Here's the slide. |
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Amazon prime was at first offered at 79.99 but now they're at 99.99. This is an example of?.. |
Pricing penetration. |
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Sony - at first - offered their latest products at premium prices yet now have reduced them heavily. This is an example of.. |
Price skimming. |
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Explain the purpose of the price playing field? |
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Name one psychological issue in pricing? |
Reference point: is it a good price in reference to something? |
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When one judges a product by.. Sum(criteria weight*rating) it is called |
The Linear model |
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I don't care about what coffee you get me, just make it the least expensive! This is an example of what product judgment method? |
Lexicographic |
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I don't care what coffee you get me, just make sure it's not under a economic rating of 6 and a taste rating of 7. This an example what kind of product judgement method? |
The conjunctive model |
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What are the four different orientations of marketing? |
- production orientation - product orientation - sales orientation - marketing orientation |
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If the value of your product is worth more than the other competitors yet less valuable than not purchasing it at all, will you attract the consumer? |
No, the value must be above not consuming it at all and above the other competitors' products. |
What must you offer in order to attract consumers? |
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What is the first fundamental principle of marketing? |
Consumers value benefits, not attributes and features. |
'This hammer surely allows me to hang my photo up!' |
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'Can we deliver the value to the consumers?' This is labelled as... |
The second fundamental principle of marketing. |
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You are hired as a consultant for Coca-Cola. As you are preparing for a meeting with the Owner, you decide its best to put the third principle of marketing to the test. In that case what would you ask him? |
How does Coca-Cola really offer value better than Pepsi? |
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You are hired as a consultant for Coca-Cola. As you are preparing for a meeting with the Owner, you decide its best to put the second principle of marketing to the test. In that case what would you ask him? |
Can we offer something (new perhaps) that consumers truly value? |
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Research and Development is handled by which level of strategy (in the organization)? |
The functional strategy. the functional strategy also handles finance, marketing, manufacturing. |
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Business goals are a big deal to which level of strategy in an organization? |
The Business unit strategy... .. which also handles the mission and competencies. |
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A group of workers are discussing the philosophy of the company. They are most likely part of which level of strategy? (in an organization) |
Corporate strategy.. .. which also handles vision and corporate goals. |
They're definitely not handling surveys... |
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if you were to follow through with a corporate strategic plan, what components would you include? |
defn of the corporate mission identification of the core competence (and SBUs) analysis of current portfolio development of a corporate plan for business growth |
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Core competence is defined as. |
What makes this corporation unique, is it hard to copy, is it scarce? |
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if Apples market share is 40% while Dell's is 30%. Dell's relative market share is going to be... |
0.75 |
A market leader isn't going to have a RMS of under 1. |
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You are hired as a consultant for a company thought of as a cash cow, that said, what would be your intentions for the company? |
Invest money into the industry and allow it to grow. |
Can we get much higher? |
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You are hired as a consultant for a company thought of as a problem child, that said, what would be your intentions for the company? |
invest into your own company and try to obtain a greater market share. |
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Presidents choice cola is likely to be what figure in the BCG matrix? |
a Dog. |
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The planning cycle helps us answer four key questions, these include... |
Where are we? 3C's >> Where do we want to be? strategic choices >> How do we get there? 4P's >> Are we getting there? Feedback |
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Use porter's five forces of comp to analyze GoPro. |
Threat of New Entrants - high caliber of technological research and equipment to be competitive. Threat of Substitutes - The Polaroid cube is much cheaper Buyers and Sellers bargaining power buyers being the low cost of switching sellers being the low availability of substitutes Internal rivalry Industry growth rate, the high demanding growth rate of the technological industry. |
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You are hired as an analyst to analyze the competitors of Tim Horton's. Follow the framework to do so. |
Identify - Stbx, second cup, nescafe... Target - (comparing time horizon and customer segment) Stbx and second cup. Assess - Knowing your comp inside out. Their weaknesses are their lack of convenience and establishments. Own behaviour... their behaviour... our.... |
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If you are freshly hired as an analyst for Tim Horton's. If you want to impress your boss by assessing your comp how would you do it? |
Analyze share of mind, heart, and market. |
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If Matel sued their comp for copying them they are what kind of competitor? In terms of reaction pattern? |
Tiger competitor. |
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If Asus executed unexpected odd untimely attacks on their competitor they are what kind of competitor? In terms of reaction pattern? |
Stochastic competitor. |
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If your company is being attacked by another competitor and you brush it off, what kind of comp are you? reaction patterns. |
Laid-back |
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Now step away from fierce competition and lets say you (part of tims), stbx, second cup, van houtte ... all decide to jack up the price of the average coffee and expand the industry. This is an example of what? |
Blue Ocean strategy. |
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Imagine that you are managing Canada's Wonderland. What are a few segments you may identify? |
- Families - family outing - Teenagers - hangout - Young Adults - taking a break from work/school These segments are differentiated by individual needs. |
what are the needs of different consumer groups? |
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If your budget for your marketing campaign was so low you could only target one segment, what would you do? How would you target your segment? |
identify the market attractiveness.. how fast does it grow? their purchasing power? Your competitive pressure .. how much of an advantage do you even have over the other competitors? How well does it connect with the other segments? How is the synergy? |
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You are about to write a positioning statement, what would you include? |
Target segment Competition Point of uniqueness Reason to believe (support of the company) |
What are the elements of a positioning statement? |
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The diffusion model states that.. |
There are two types of consumers: Innovators and Imitators. |
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In a product's life cycle, the total industry profit is located where? |
in the peak of the the revenue, aka the segment of maturity. |
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In what stage of a product's life cycle does the producer see losses? |
Introduction |
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How would you define the Brand Equity for Apple? |
You can do this by analyzing how the brand regards the company. The brand equity. |
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If you were hired as a research analyst for Mr.s Fields cookies to find the value of brand equity what might you do? |
You can establish a blind taste test to determine how consumers value the product without seeing the label or any other material. |
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If you are a consultant for Coca-Cola and you are about to launch a new product (Coca-Cola 6), what brand strategy are you to implement? |
Brand extension; embrace the brand's name and allow it to shine on the product. |
Out of the four possible ones.. |
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If you are a consultant for a start-up Dapplio and you are about to launch a new product (trdfyuh), what brand strategy are you to implement? |
Simply the new brands, this is new material in the market and there is almost no way around it. The brand strategy is labelled as new brands and focuses on the fact that you must build a brand since you have little to work with. |
Out of the four possible ones.. |
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If you are a consultant for Coca-Cola and you are about to launch an existing product what brand strategy are you to implement? |
Since you are an existing brand (name) launching an existing product it is in your best interest to implement the line extension strategy; show that there is space to grow for the product and allow it to expand in the market. |
Out of the four possible ones.. |
