Marketing

Due by July 13, 2013 at 12 noon. Strict instructions. Need to pass this class.

MARKETING 2

Extra credit assignment
Requirements:
Read a 2-3 page article on one aspect of marketing.  Complete a 3-5 page paper (APA style with proper title and reference pages not included in total) as outlined by the instructor.  Students will submit an electronic copy for grading and will use at least 2 more sources in the paper dating back no more than 5 years.
Grading:
Each paper will be graded by thoughtful interactions and reflections from the article and how these relate to the principles learned in BS437 in the topic related to the paper.  This will be worth up to 25 extra-credit points. In addition, points will be deducted for spelling and grammar errors as well as those related to proper APA style. 

Chapter 5-8 Week 2 Notes

Shavone Thomas

May 13, 2013

Dr. Cellemere

Marketing Management

Chapter 5 Understanding Organizational Markets and Buying Behavior

You have to understand who the customer is:

1 the motivations of the buyer; their demands

2 the demographics of the market

3 the nature of the purchasing process and the relationship between the buyer and the seller

4 understanding the use of direct selling with an emphasis on personal communication through company salespeople

5 supply chain for services such as coordinated delivery schedules, maintenance, spare parts availability, and efficient order handling

6 buyer is referred to as purchasing agent or purchasing manager

7 buying center is a group that shares knowledge and information relevant to the purchase of a product or service

8 straight rebuy is purchasing a common product or service

9 modified rebuy when an organization needs remain unchanged

10 new task buying when an organization faces new and unique need or problem

Chapter 6 Measuring Market Opportunities: Forecasting and Market Knowledge

In this chapter you have to be observant by gathering information from consumers and other business’ you have to be able to forecast.

1 analogy the market for something new or a new product

2 judgment based on experience knowing what the customer wants

3 market tests see what the customer likes also research

4 analyze the information

Chapter 7 Targeting Attractive Market Segments

1 Identify what differs from other segments the process should identify one or more homogeneous group of prospective buyers with regard to their wants and needs

2 Specify criteria that define the segment this should measure or describe the segments clearly enough so that members can readily identified and accessed the order

3 Determine segment size and potential the process should be used for prioritizing which segments to pursue

4 The target of segments are; age, sex, income, occupation, education, race, and ethnic origin

Chapter 8 Differentiation and Brand Positioning

1 One key to customer preference and competitive advantage

2 Competing brands; physical positioning and limitations

3 Identify determinant attributes are the features, benefits, parentage, manufacturing process ingredients, endorsements, comparison, pro-environment, and price/quality

4 Customer needs and segment attractiveness; the competitive strength of different brands in different segments, the intensity of the rivalry between brands inn a given segment, and the opportunities for gaining a different position within a specific target segment

5 Can always get the customers opinions about different brands in a survey by asking about an hypothetical brand within a category

6 There are limits to product positioning analysis which is called market positioning analysis; to measure customers preferences and locate them in the product space along with their perceptions of the positions of existing brands