MBA MFT Study Cards 2023 Answered Material

major segmentation variables (4) - (1) geographic, (2) demographic, (3) psychographic, (4) behavioral penetrated market - set of customers who are buying the company's product target market - qualified available market the company decides to pursue available market - set of consumers who have interest, income, and access to a particular offer potential market - set of consumer with a sufficient level of interest in a market offer corporate culture - shared experiences, stories, beliefs, & norms that characterize an organization strategic marketing plan - 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 - (1) need recognition, (2) information search, (3) evaluation of alternatives, (4) purchase decision, (5) post-purchase behavior 8 steps of business purchasing process - (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 - (1) cultural, (2) social, (3) personal, (4) psychological 4 factors that influence business purchasing behavior - (1) environmental, (2) organizational, (3) interpersonal, (4) individual competitive intelligence - 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) - (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 - (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 - the manufacturer uses advertising and other communication to persuade consumers to demand the product from intermediaries, thus inducing intermediaries to order it push strategy - 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) - attributes or benefit associations that are not necessarily unique to the brand but may be shared with other brands points-of-difference (PODs) - 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 - the act of designing a company's offering and image to occupy a distinctive place in the minds of the target market supersegment - set of segments sharing some exploitable similarity 5 key criteria market segments must rate favorably on to be useful - (1) measurable, (2) sustainable, (3) accessible, (4) differentiable, (5) actionable pyschographic - the science of using psychology & demographics to better understand consumers variables of demographic segmentation (6) - (1) age and life-cycle stage, (2) life stage, (3) gender, (4) income, (5) generation, (6) race & culture investment banking - a specific division of banking related to the creation of capital for other companies, governments, and entities weak form - 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 - states the current market price reflects all publicly available information. to gain abnormal returns insider info is needed information efficiency - all relevant information about a stock is reflected in its price (this is in a perfect world)