Wharton Marketing 101 Final

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