IDENTIFICATION

1. It is the act of attempting to influence a person’s beliefs or attitude toward a thing. VALUE
2. Is a state of felt deprivation about something that is deemed to be necessary. NEEDS
3. When the firms realize that a better way to compete would be by prioritizing customers needs
more that their own. This called? MARKETING ORIENTATION
4. Are wants that are backed by purchasing power. DEMANDS
5. Can quickly turn into hard selling, which can be annoying to customers. SALES ORIENTATION
6. Are the specific manifestations of needs. WANTS
7. Is when you focus your time money, resources and how can you attract customers.
CONCENTRATION
8. When the demand is there, so you just have to produce as much as your product as you can in
order to meet it. PRODUCTION ORIENTATION
9. Improved quality, new and better features, better comfort and better design- all of which are
undertaken with the hope that the product will speak for itself and the customer will choose
your products based on the merits of your wares. This mindset is called? PRODUCT
ORIENTATION
10. It is the activity, set of instructions, and the processes for creating, communicating, delivering,
and exchanging offerings that have value for customer, client’s partners and society at large.
MARKETING
11. Is more sophisticated statistical method for predicting an outcome based on multiple possible
factors. REGRESSION ANALYSIS
12. These are those who express some level of interest in the product. POTENTIAL MARKET
13. It is the total volume of the sales that is generated by a defined customer group in a defined
geographical area, time period and marketing environment under a defined marketing program.
MARKET DEMAND
14. This is the subset of the market that is already actively using the product. PENETRATED MARKET
15. This refers to documents is the company’s order to payment cycle such as invoices, shipping
orders etc. INTERNAL RECORDS
16. Is a means of answering a hypothesis through the use of an experiment. EXPERIMENTAL
RESEARCH
17. Are useful for gathering strong opinions and beliefs from a given target market. FOCUS GROUPS
18. Uses data from previous periods to forecast the following period of sales. TIME SERIES
ANALYSIS
19. This refers to the business itself, what are you selling, how your organization is set up, what your
organizations strengths and weaknesses are, what your resources happen to be, what your
company’s core values and mission are, and essentially anything about your company that
matters. INTERNAL ENVIRONMENT
20. Refers to the immediate industry in which your company is doing a business. COMPETITIVE
ENVIRONMENT
21. Refers as expenditure-based clusters because people belonging to the same group tend to
spend on the same things. SOCIO-ECONOMIC CLASS
22. This is all about the norms of behavior among even smaller groups, where a consumer belongs
to. SOCIAL FACTORS
 23. Occurs when a consumer wants to keep life simple, and yet the risks faced with the buying
decision for an important purchase are achieved to be high. DISSONANCE REDUCING BEHAVIOR
24. The physical location of a market, including the general characteristics of the location.
GEOGRAPHIC
25. This refers to routinized purchases. STRAIGHT REBUY
26. This is the start of a formal buying process where forms are filled out that justify the need of the
purchase. GENERAL NEED DESCRIPTION
27. At this point the firm still has no experience with the different suppliers in the market. NEW
TASK
28. Is when attention is focused on the needs of people may have for a particular product rather
than the types of people who may be targeted. BENEFIT SEGMENTATION
29. Families with children, youngest child six years or older. FULL NEST II
30. These peoples view or advices can influence the eventual selection of what to buy.
INFLUENCERS

ENUMERATION

THREE COMPONENTS OF STRATEGIC MARKETING

 Customer segmentation
 Target market selection
 Value positioning

MASLOW’S HIERARCHY OF NEEDS

 Self-actualization
 Self esteem
 Love/belonging
 Safety needs
 Physiological needs

FOUR PRINCIPLES OF MARKETING STRATEGY

 Specialization
 Differentiation
 Segmentation
 concentration

SIX SHORTCUTS THAT GUIDES HUMAN BEHAVIOR: THE SCIENCE OF PERSUASION

 reciprocity
 scarcity
 authority
 consistency
 liking
 consensus

PROCESS INVOLVED IN CONDUCTING MARKET RESEARCH

  define the problem and research objectives
 develop the research plan
 collect the information
 analyze the data
 present the findings

FOUR ELEMENTS IN THE MACRO ENVIRONMENT

 political
 economic
 social
 technological

COMPONENTS OF A RESEARCH PLAN

 data sources
 research approaches
 research instruments
 sampling plan
 contact methods

CHECKLIST OF THINGS THAT YOU MAY WANT TO ASSESS IN YOUR COMPANYS INTERNAL
ENVIRONMENT

 company cash flow

 organizational structure
 assets and other resources
 strategic alliances
 products and services

WAYS OF FORECASTING DEMAND FOR AN EXISTING PRODUCT

 listening to what people say

 assessing what people have done
 salesforce opinion
 expert opinions
 time series analysis
 regression analysis

FACTORS THAT AFFECT CONSUMER BEHAVIOR

 culture
 social factors
 personal factors
 psychological factors

TYPES OF BUYING BEHAVIOR

 complex buying behavior

  dissonance reducing behavior
 variety seeking behavior
 habitual buying behavior

CHARACTERISTICS OF ORGANIZATIONAL MARKETS

 fewer and larger buyers

 close customer relationships
 geographic concentration
 derived and fluctuating demand
 potential for inelastic demand
 professional purchasing

STEPS IN SYSTEMATIC SEGMENTATION

 conduct a wide survey

 process the data
 profiling

EXAMPLES OF ORGANIZATIONAL MARKETS

 manufacturers
 restaurants and quick service food chains
 wholesalers and retail chains
 marketing and distribution companies
 local government units
 government owned and controlled corporations
 non-profit organizations
 hospitals and health centers

ACRONYMS

URC- Universal Robina Corporation

ABS CBN- Alto Broadcasting System Chronicle Broadcasting Network

CEO- Chief Executive Officer

LGU’s- Local government Units

GOCC’s- Government Owned and Controlled Corporations

DINK’s- Double Income, No Kids

SEC- Socio-Economic Class

PEST- Political, Economic, Social, Technological

MIS- Market Information System