Things i should have learned in marketing jeopardy edition
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Things I should have learned in Marketing: Jeopardy edition . serve as a guide for what the organization wants to accomplish. be “market-oriented” rather than “product-oriented”. be neither too narrow, nor too broad. fit with the market environment. be motivating.

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Things I should have learned in Marketing: Jeopardy edition

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Things i should have learned in marketing jeopardy edition

Things I should have learned in Marketing: Jeopardy edition


Things i should have learned in marketing jeopardy edition

  • serve as a guide for what the organization wants to accomplish.

  • be “market-oriented” rather than “product-oriented”.

  • be neither too narrow, nor too broad.

  • fit with the market environment.

  • be motivating.


Things i should have learned in marketing jeopardy edition

  • What is a mission Statement?


Things i should have learned in marketing jeopardy edition

  • Should be specific

  • Measurable

  • Have a Time line


What is an objective

What is an objective?


Things i should have learned in marketing jeopardy edition

  • An SBU with a high relative market share in a market that has stopped growing


What is a cash cow

What is a Cash Cow


Things i should have learned in marketing jeopardy edition

Figure 2-2:

Growth-Share Matrix


Things i should have learned in marketing jeopardy edition

  • I should Divest or Harvest


Things i should have learned in marketing jeopardy edition

  • What is when my SBU is a DOG?


Things i should have learned in marketing jeopardy edition

This is the riskiest of the generic growth strategies


What is diversification

What is diversification?


Things i should have learned in marketing jeopardy edition

Figure 2-3:

Product / Market Expansion Grid


Things i should have learned in marketing jeopardy edition

  • Dividing up a heterogeneous market into multiple user groups


What is segmenting

What is segmenting?


Things i should have learned in marketing jeopardy edition

  • The group of consumers that you are trying to sell your products to


What is your target market

What is your target market?


Things i should have learned in marketing jeopardy edition

  • Creating the perception in the mind of the consumers that your product is the ideal product for them


What is product positioning

What is product positioning?


Things i should have learned in marketing jeopardy edition

  • The variables that the marketer controls, sometimes known as the 4ps


What is the marketing mix

What is the marketing mix?


Things i should have learned in marketing jeopardy edition

  • This element of the marketing mix deals with communication


What is promotion

What is promotion?


Things i should have learned in marketing jeopardy edition

  • Branding and Packaging issues are part of this element of the Marketing mix


What is product

What is Product?


Things i should have learned in marketing jeopardy edition

  • Distribution and logistics are part of this element of the marketing mix


What is place

What is Place?


Things i should have learned in marketing jeopardy edition

Figure 2-6:

Managing the Marketing Effort


Things i should have learned in marketing jeopardy edition

  • An advantage over competitors gained by offering consumers greater value than competitors offer


What is competitive advantage

What is competitiveadvantage?

  • Would have accepted core competency


Things i should have learned in marketing jeopardy edition

  • The process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.


What is competitive analysis

What is competitive analysis


Things i should have learned in marketing jeopardy edition

  • Concentrating on competitors so much that you ignore other issues


What is competitor myopia

What is competitor Myopia?


Things i should have learned in marketing jeopardy edition

  • Using other companies to establish industry standards


What is benchmarking

What is benchmarking?


Things i should have learned in marketing jeopardy edition

  • Those companies that compete in the same way in the same industry


What is a strategic group

What is a strategic group?

  • Good or bad competitors


Things i should have learned in marketing jeopardy edition

  • The generic strategy of Creating a highly differentiated product line and marketing program


What is differentiation

What is differentiation


Competitive strategies

Competitive Strategies

  • Basic Winning Competitive Strategies: Porter

    • Overall cost leadership

      • Lowest production and distribution costs

    • Differentiation

      • Creating a highly differentiated product line and marketing program

    • Focus

      • Effort is focused on serving a few market segments


Things i should have learned in marketing jeopardy edition

The value discipline of superior value via price and convenience


What is operational excellence

What is operational excellence?

  • Basic Competitive Strategies: Value Disciplines

    • Operational excellence

      • Superior value via price and convenience

    • Customer intimacy

      • Superior value by means of building strong relationships with buyers and satisfying needs

    • Product leadership

      • Superior value via product innovation


Things i should have learned in marketing jeopardy edition

Figure 18-3:

Hypothetical Market Structure


Things i should have learned in marketing jeopardy edition

Product proliferation


What is a market leader strategy designed to protect market share

What is a market leader strategy designed to protect market share?

  • Expanding the total demand

    • Finding new users

    • Discovering and promoting new product uses

    • Encouraging greater product usage

  • Protecting market share

    • Manyconsiderations

    • Continuous innovation

  • Expanding market share

    • Profitability rises with market share


Things i should have learned in marketing jeopardy edition

  • Option 1: challenge the market leader

    • High-risk but high-gain

    • Sustainable competitive advantage over the leader is key to success

  • Option 2: challenge firms of the same size, smaller size or challenge regional or local firms

  • Full frontal vs. indirect attacks


What are market challenger strategies

What are market challenger strategies?


Things i should have learned in marketing jeopardy edition

  • Content to not rock the boat and to rely on “me too” products


Things i should have learned in marketing jeopardy edition

  • Follow the market leader

    • Focus is on improving profit instead of market share

    • Many advantages:

      • Learn from the market leader’s experience

      • Copy or improve on the leader’s offerings

      • Strong profitability


Things i should have learned in marketing jeopardy edition

  • Wants to be the dullest story in America


Who is the dial corporation

Who is the Dial Corporation?


Things i should have learned in marketing jeopardy edition

  • Targets small lucrative markets


What is a market nicher

What is a market nicher?

  • Serving market nichesmeans targeting subsegments

  • Good strategy for small firms with limited resources

  • Offers high margins

  • Specialization is key

    • By market, customer, product, or marketing mix lines


Game playing industry

Game playing industry

  • Nintendo

    • Wii hyperlink

  • Microsoft

    • Xbox 360

  • Sony

    • Play Station


Threat of new entry

Threat of New Entry

  • the existence of barriers to entry

  • economies of product differences

  • brand equity

  • switching costs

  • capital requirements

  • access to distribution

  • absolute cost advantages

  • learning curve advantages

  • expected retaliation

  • government policies


Competitive rivalry

Competitive Rivalry

  • number of competitors

  • rate of industry growth

  • intermittent industry overcapacity

  • exit barriers

  • diversity of competitors

  • informational complexity and asymmetry

  • brand equity

  • fixed cost allocation per value added

  • level of advertising expense


Supplier power

Supplier Power

  • supplier switching costs relative to firm switching costs

  • degree of differentiation of inputs

  • presence of substitute inputs

  • supplier concentration to firm concentration ratio

  • threat of forward integration by suppliers relative to the threat of backward integration by firms

  • cost of inputs relative to selling price of the product


Buyer power

Buyer Power

  • buyer concentration to firm concentration ratio

  • bargaining leverage

  • buyer volume

  • buyer switching costs relative to firm switching costs

  • buyer information availability

  • ability to backward integrate

  • availability of existing substitute products

  • buyer price sensitivity

  • price of total purchase


Threat of substitution

Threat ofSubstitution

  • buyer propensity to substitute

  • relative price performance of substitutes

  • buyer switching costs

  • perceived level of product differentiation


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