MKTG 5150- Week 3 Review

Strategy

100

The 5-C Framework is made up of Customers, Company, Collaborators, Competitors, and this

CONTEXT

200

The marketing planning process that includes goal setting, strategy, tactics, implementation, control, is often referred to as this

G-STIC action plan

300

An assessment of current overall business environment is commonly referred to as this

SWOT/Situational Assessment 

400

In marketing planning, the ultimate success criteria is this

Goal Setting

500

Creating value for customers, company, and collaborators is also know as this

Optimal Value Proposition (OVP)

Consumer Behavior

100

Consumer characteristics include social and cultural factors and this

Personal Factors

200

In studying how we behave as consumer, Motivation, Perception, Emotions, and Memory all refer to this model 

Consumer Psychology

300

When Taco Bell runs a campaign for Black History Month, they are being influenced by this consumer characteristic

Cultural Factors

400

When Lululemon first introduced a line of men's wear in 2014, they were being influenced by this consumer behavior characteristic

Social Factors 

500

The first step in understanding why and how consumer select, buy, use and dispose of goods is through this model

The Model of Consumer Behavior

Creating Value

100

The three domains of creating value include functional value, psychological value and this

Monetary Value

200

To create value, marketers have to address two important frameworks, Points of Reference and this

Points of Difference

300

Points of Difference address this main question

What makes your product different

400

Why a consumer buys your product is also referred to as this

Points/Frame of Reference

500

The three must haves of developing a point of difference and reference are must be desirable to consumers, deliverable by the company, and this

Different from others