Wharton Marketing 101 Final – Flashcards
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Five Cs
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1. Company 2. Customers 3. Competitors 4. Collaborators 5. Context
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Four Ps
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1. Product 2. Promotion 3. Price 4. Place
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Evolution
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1. Product orientation 2. Sales orientation 3. Marketing concept 4. Competitor orientation 5. Relationship management 6. Customer centricity/value marketing
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Consumer decision-making process
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1. Need recognition 2. Information search 3. Evaluation of alternatives 4. Purchase decision 5. Post-purchase behavior
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Segments of good criteria
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1. homogenous withn 2. heterogenous between 3. substantial 4. operational 5. stable
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Critical elements of a positioning statement
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1. Target 2. Frame of reference 3. Point of differentiation 4. Reason to believe
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Brand awareness ladder
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1. Awareness 2. Associations 3. Relationship
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Value differentiation vectors
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1. Operational excellence 2. Relational/intimacy 3. Performance superiority
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Brand personality dimensions—US
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1. Sincerity 2. Excitement 3. Competence 4. Ruggedness 5. Sophistication
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Brand personality—Japan
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1. Peacefulness for ruggedness
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Brand personality—Spain
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1. Peaceful for ruggedness 2. Passion for competence
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Brand personality—China
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1. Joyfulness for ruggedness 2. Traditionalism for sincerity 3. Add in trendiness
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Four easy brand name/package tests
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1. Say 2. Spell 3. Read 4. Remember `
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Four fit brand name/package tests
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1. Target market 2. Benefits 3. Culture 4. Legal
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Channel functions
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1. Transactional 2. Logistical 3. Facilitating
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Diagnostic protocol
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1. Availability 2. Awareness 3. Perceptions 4. History 5. Competition
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Criteria for solid research tools
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1. Current 2. Representative 3. Valid 4. Reliable
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`Steps of integrated marketing communications
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1. Marketing plan 2. Promotional goals 3. Promotional strategy 4. Communications mix 5. Execute and evaluate
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Parts of the communications mix
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1. Advertising 2. Sales promotion 3. Personal selling 4. Public relations 5. Word of mouth
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Stages of PLC
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1. introduction 2. growth 3. mature 4. decline
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Four strategies of managing decline
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1. Withdraw 2. Harvest 3. Niche 4. Market leadership
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Categories of types of customers based on innovativeness
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1. Innovators 2. Early adopters 3. Early majority 4. Late majority 5. Laggards
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ACCORD—used when analyzing a product
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1. Advantage 2. Compatibility 3. Complexity 4. Observability 5. Risk 6. Divisibility
