PRINCIPLES OF MARKETING
University of Missouri
Summer 2016 Hybrid Online
University of Missouri
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Columbia, MO 65211
Personal selling is a two-way flow of communication between a potential buyer and a
salesperson that accomplishes:
1. Identifying the potential buyers needs
2. Matching those needs with one of the firms products/services
Chapter 6: p88-92;98-99
Branding and Brand Equity
Factors that Strengthen a Brand:
Product quality: when products do what they do very well
o Ex: Windex and EasyOff
Consistent Advertising and Other Marketing Communications: brands tell
their story often
Marketing Research: Process and Systems for Decision Making
Marketing Research: the process by which information about the
environment is generated, analyzed, and interpreted for use in marketing
v AID TO DECISION MAKING, NOT A SUBSTITUTE
Chapter 8: 124-125
The Expenditure Question: the methods used to decide how much to spend on
advertising, ranging from simple (a percent of sales), to more complex (task
Methods of determining how much to spend on advertising:
1. How has an understanding of consumer behavior helped Groupon grow from 400 subscribers in
Chicago in 2008 to 60 million subscribers in 40 countries today?
Customer behavior is the actions a person taking in purchasing and using products and service.
The Marketing Concept
The marketing concept is an organization that should seek to make a profit by serving
the needs of customer groups.
Marketing starts with identifying the customers (Consumer) needs first.
Focus on building long-term rel
Mkt 3000 Exam 1
NOTE: Use this only as a benchmarking tool (to see where you need further study effort).
Do not study this directly! While questions on the actual exam will be similar, the answers
will be different and you will need to know
Marketing: Pricing Strategy: 172-176
Supply Influences on Pricing Decisions
Most common pricing objectives include:
1. Pricing to achieve a target return on investment
2. Stabilization of price and margin
3. Pricing to achieve a target
1. What are the points of difference, or unique attributes, for X-1 products? (Explain)
This company focus on the devise which used for the people who enjoy music during the sports.
X-1 product is mainly headphones which has waterproof, sweat proof, weath