MBA MFT Study Cards 2023-2024
major segmentation variables (4) - Answer-(1) geographic, (2) demographic, (3)
psychographic, (4) behavioral
penetrated
... [Show More] market - Answer-set of customers who are buying the company's product
target market - Answer-qualified available market the company decides to pursue
available market - Answer-set of consumers who have interest, income, and access to a
particular offer
potential market - Answer-set of consumer with a sufficient level of interest in a market
offer
corporate culture - Answer-shared experiences, stories, beliefs, & norms that
characterize an organization
strategic marketing plan - Answer-lays out the target market and the firm's value
proposition, based on an analysis of the best market opportunities
5 stages of consumer buying process decision process - Answer-(1) need recognition,
(2) information search, (3) evaluation of alternatives, (4) purchase decision, (5) postpurchase behavior
8 steps of business purchasing process - Answer-(1) identify need, (2) select specific
product, (3) appoint purchase team, (4) specify technicalities, (5) budget for purchase,
(6) research potential suppliers, (7) solicit bids, (8) award contracts
4 factors influencing consumer behavior - Answer-(1) cultural, (2) social, (3) personal,
(4) psychological
4 factors that influence business purchasing behavior - Answer-(1) environmental, (2)
organizational, (3) interpersonal, (4) individual
competitive intelligence - Answer-defining, gathering, analyzing, & distributing
intelligence about products, customers, competitors, and any aspects of the
environment needed to support executives & managers making strategic decisions for
an organization
managerial decision making process steps (6) - Answer-(1) establish the objective, (2)
define the problem, (3) identify possible solutions, (4) evaluate alternative courses of
action, (5) implement the decision, (6) acquire feedback
8 major models of marketing communication - Answer-(1) advertising, (2) sales
promotion, (3) events & experiences, (4) public relations & publicity, (5) direct
marketing, (6) interactive marketing, (7) word-of-mouth marketing, (8) personal selling
pull strategy - Answer-the manufacturer uses advertising and other communication to
persuade consumers to demand the product from intermediaries, thus inducing
intermediaries to order it
push strategy - Answer-uses the manufacturer's sales force, trade promotion money, or
other means to induce intermediaries to carry, promote, & sell the product to end users
points-of-parity (POPs) - Answer-attributes or benefit associations that are not
necessarily unique to the brand but may be shared with other brands
points-of-difference (PODs) - Answer-attributes of benefits that consumers strongly
associate with a brand, positively evaluate, and believe they could NOT find to the same
extent with a competitive brand
posititioning - Answer-the act of designing a company's offering and image to occupy a
distinctive place in the minds of the target market
supersegment - Answer-set of segments sharing some exploitable similarity
5 key criteria market segments must rate favorably on to be useful - Answer-(1)
measurable, (2) sustainable, (3) accessible, (4) differentiable, (5) actionable
pyschographic - Answer-the science of using psychology & demographics to better
understand consumers
variables of demographic segmentation (6) - Answer-(1) age and life-cycle stage, (2) life
stage, (3) gender, (4) income, (5) generation, (6) race & culture
investment banking - Answer-a specific division of banking related to the creation of
capital for other companies, governments, and entities
weak form - Answer-assumes that all info contained in past price movements is
reflected in the current market price. info about recent trends in a stock price is no use
in selecting a stock
semi-strong form - Answer-states the current market price reflects all publicly available
information. to gain abnormal returns insider info is needed
information efficiency - Answer-all relevant information about a stock is reflected in its
price (this is in a perfect world)
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