internal factors that affect pricing decisions ans 1 marketing objectives 2 marketing mix strategy 3 costs
marketing objectives ans maximize profit gain market share infer a level of qual
Written for
CPA
All documents for this subject (760)
Seller
Follow
skpass
Reviews received
Content preview
AHIP MKT 300 ASU Eaton Exam 2
Business Plan - ANS a written document that defines the operational and financial
objectives of a business over a particular time, and defines how the business plans to
accomplish those objectives.
Marketing"s Role - ANS Market analysis, monitor results, how objectives will be
achieved.
Marketing Plan - ANS a document that includes an assessment of the marketing
situation, marketing objectives, marketing strategy, and marketing initiatives
Purpose and Significance of a Marketing Plan - ANS A good marketing plan will:
• Explain both the present and future situations of the organization
• Specify the outcomes that are expected
• Describe the specific actions that are to take place
• Identify the resources that will be needed
• Permit the monitoring of each action and its results
com
Action - Oriented - ANS municate value, generate interest, persuade customers
Executive Summary - ANS written with senior leadership as primary audience
• Goals
• Recommendation
Company description, purpose, and goals - ANS Includes historical information on
business and products, and the company's core competencies and reason for existence
Marketing Situation - ANS Contains assessments of:
- Customers
- Competitors
- Product portfolio
- Distribution channels
- Marketing environment
Forecasting - ANS Anticipated outcome if marketing objectives are met.
Marketing Strategy - ANS What actions should be taken to meet objectives.
- Target market
, - Positioning
- Marketing mix
Measurement and Control - ANS How to monitor progress toward meeting objectives?
- Financial factors
- Nonfinancial factors
A good marketing plan should be: - ANS realistic, achievable, and measurable. It
should identify the committed resources and the requirements for carrying out the plan
should be clear.
5 Step Decision Making Process - ANS 1. Need recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase Decision
5. Post purchase Evaluation
Need Recognition - ANS occurs when a buyer becomes aware of a difference between
a desired state an actual condition.
Information Search - ANS how much information you have, ease of obtaining
information, value you place on information.
Evaluate Alternatives - ANS consumers use criteria to evaluate alternatives based on
internal and external info
(awareness set, evoked set, consideration set)
Evoked Set Model - ANS outlines how the information search process can take place.
Compensatory Model - ANS •Cost-benefit analysis
•Which one does the +'s most outweigh the -'s?
o Multi-Attribute
Non-compensatory Model - ANS immediate rejection based on some factor
• Conjunctive
• Lexicographic
Multi Attribute Rule - ANS list outcomes, rate each outcome on importance; Weighted
total derived by multiplying importance rating by your evaluation (compensatory)
Conjunctive Rule - ANS set minimum standards for one or more attributes, reject any
brands that do not meet ALL minimum thresholds. (non-compensatory)
"And" Rule - ANS must meet standards for this attribute and the second, and the third...
- Part of conjunctive rule
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller skpass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.49. You're not tied to anything after your purchase.