What is included in the "marketing mix" (4 P's)?
Promotion
People
Place
Production
Price
Product/Service
Customers have ________ and ___________
dreams, ideas
wants, money
no money, needs
wants and needs
lots of wants, lots of money
Customers needs => functional => volume
Customers wants => psychological => margins
The exchange of product and services is effect by what?
Consumer disposable income
Customers' wants and needs
PESTE
None of the above
What is the goal for the the exchange of product/services?
To maximize customer satisfaction for customer needs
To maximize customer satisfaction for customer wents
To maximize customer satisfaction for both wants and needs
What should you always do first when entering a market?
Analysis customer wants and needs
Market Segmentation
PESTE analysis
What makes up "PESTE"?
Excellence
Political/legal factors
Supply and Demand
Time
Techonology
Process improvement
Economic factors
Social factors
Environmental factors
What are the types of international marketing?
Multi-domestic
Glocal
Regional
Global
All of the above?
What two things affect the type of market a firm is (as in Global, Multi-domestic, regional, glocal)?
Integration
Process Capacity
Firm's Vision
Responsiveness
What where the issues in the Microsoft "works" case?
Toggle Switch
Picky Customers
File Conversions
Language
Timing
All of the above
SOHO stands for: Small Office-Home Office
Segmentation is what?
Grouping people who have similar relevant benefits together
Grouping people together who have different relevant benefits
Grouping people who have similar relevant benefits together who are willing and able to buy
What does "SAM" stand for? (in relation to segmentation)
Sustianable-Accessible-Measurabl
Sustainable-Accurate-Measurable
Substantial-Accessible-Marginal
Substantial-Accessible-Measurable
Differentiation is finding superiority over competitors on some benefits/attributes relevant to the cusomter
Segmentation + Differentiation = ?
Target Market
Product Attributes
Product Niche
Positioning Strategy
What are the steps in positioing?
1) Pick a target market. 2) Identify relevant benefits.3) Create a positioning map
1) Create a positioning map. 2) Pick a target market. 3) Identify relevant benefits
1) Identify relevant benefits. 2) Pick a target market. 3) Create a positiong map
Price - Cost of Goods Sold = ?
Unit Contribution Margin
Break-even Volume
Net Income
Gross Margin
Unit Price - Unit VC = Unit Contribution Margin
? = Fixed Cost / Unit Contribution Margin
Break-even Time
Retailer Margin
None of these
Time to Break-even = X / Y
x = breakeven volume, y = annual sales
x = annual sales, y = breakeven volume
x = fixed cost, y = unit contribution
x = unit contribution, y = fixed cost
Unit contribution is called a "contribution" because it contributes back to the fixed cost then if you break-even, it goes towards your profit
When should "transfer prices" be low priced?
When duties and tariffs are higher
When making local subsidiaries more favorable/profitbal
Tax rate in foreign markets are higher than the US
Inflation in foreign market is higher than the US
Currency depreciation is unstable in foreign markets
When should "transfer prices" be priced higher?
When duties and tariffs are high
When its better to make local subsidiaries more favorable/profitable
When tax rates in foreign markets are higher than the US
When inflation in foreign markets is higher than the US
When foreign markets currency depreciation in unstable
If repatriation of profits is restrictedd
Segmentation is breaking a market into subgroups that behave the same way with respect to your product/service
What variables are used to "segment" a market?
Demographics
Psychographics
Attitudes
Interest
Opinions
All of these
What has to exist for segmentation to work?
SAM (Substantial, Accessible, Measurable)
Large market share
A strong positioning strategy
