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Principles + Competition
MOA
Buyer Behavior
STP
STP 2.0
100
Scientific study of human society and social relationships
What is social science?
100
Table used to compare a product with its competitors based on several factors
What is competitor matrix?
100
Three types of organizational buyers
What are resellers, governments, and industries?
100
Segmentation approach used when no statistical data is available
What is segmentation tree?
100
Meaning of STP acronym
What is segment, target, position?
200
Most indirect level of competition
What is generic competition?
200
Broad marketing strategy where producers achieve lowest cost among industry competitors.
What is cost leadership?
200
Three perceptual processes
What are selective attention/exposure, selective distortion, and selective retention?
200
Segments should be distinct from one another
What is heterogeneous?
200
Representation of a company's target market
What is a brand persona?
300
Share of company’s revenues in the total revenues of its industry in a particular year.
What is market share?
300
Advantage or leverage that a business has over its competition
What is competitive advantage?
300
Consumer buying decision that requires the most time and effort
What is extended problem solving?
300
Default axes of a perceptual map
What are price and quality?
300
Three elements of an ideal brand position
What are unique, beneficial, and credible?
400
Focusing too narrowly on innovation and efficiency rather than satisfying customer needs
What is marketing myopia?
400
Occurs when two or more producers sell products that are only slightly different from each other.
What is monopolistic competition?
400
Buyers or markets with elastic demand
What is consumer market?
400
Most effective dimension of segmentation
What is psychographic?
400
Target markets should be within physical reach for product distribution and promotion
What is reachable?
500
Marketing approach most appropriate for unsought goods
What is selling concept?
500
Seven macroenvironments
What are economic, political, natural, demographic, sociocultural, legal, and technological?
500
Factors influencing consumer behavior, arranged from least to most influencial
What are cultural, social, personal, and psychological?
500
Five components of a brand persona
What are main needs, demographic description, media choices, price sensitivity, and usage rate?
500
Five winning value propositions
What are more for more, more for less, more for the same, the same for less, and less for much less?