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Marketing Management - Marketing Management(Mktg 494...

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Marketing Management (Mktg 494) Professor P.L. Shield Group Members: Matt Marchione [email protected] 805.588.6013 Chelsea Hiers [email protected] 562.544.9444 Sean Brady sbrady @ csulb . edu 408.406.2510 Evan McManus [email protected] 760.450.4407 ===================================================================== *If you need a copy of Study Guide 1 or the Squirt Case, let me know. -Matt Study Guide Exam II Chapter 8 80-20 principle- 80% of revenue comes from 20% of the market Segmentation 4 Characteristics- Homogenous within, Hetergenous between, Marketable, Profitable Behavior- Decision roles- people play five roles in a buying decision: Initiator, Influencer, Decider, Buyer, and User. Behavioral variables- occasions, benefits, user status, usage rate, buyer- readiness stage, loyalty status, and attitude. Psychographics- buyers are divided into different groups on the basis of psychological/personality traits, lifestyle, or values. (VALS) Frequency- how often a consumer buys/uses a product. usage rate Use- How the consumer uses the product. where/when/how
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Product- features/benefits/attributes Geographics- Dividing the market into different geographical units such as nations, states, regions, counties, cities, or neighborhoods. VALS- Innovators are successful, sophisticated, take-charge people with high self-esteem. They have such abundant resources. They are change leaders and are the most receptive to new ideas and technologies. Innovators are very active consumers, and their purchases reflect cultivated tastes for upscale, niche products and services. Thinkers are motivated by ideals. They are mature, satisfied, comfortable, and reflective people who value order, knowledge, and responsibility. They tend to be well educated and actively seek out information in the decision-making process. They are well-informed about world and national events and are alert to opportunities to broaden their knowledge. Believers are motivated by ideals. They are conservative, conventional people with concrete beliefs based on traditional, established codes: family, religion, community, and the nation. Many Believers express moral codes that have deep roots and literal interpretation. They follow established routines, organized in large part around home, family, community, and social or religious organizations to which they belong. Achievers are motivated by the desire for achievement, Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work. Achievers live conventional lives, are politically conservative, and respect authority and the status quo. They value consensus, predictability, and stability over risk, intimacy, and self- discovery. Strivers are trendy and fun loving. Because they are motivated by achievement, Strivers are concerned about the opinions and approval of others. Money defines success for Strivers, who don't have enough of it to meet their desires. They favor stylish products that emulate the purchases of people with greater material wealth. Many Strivers see
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