Marketing at Technische Hochschule Nürnberg

Flashcards and summaries for Marketing at the Technische Hochschule Nürnberg

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Study with flashcards and summaries for the course Marketing at the Technische Hochschule Nürnberg

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

What is the difference between a want and a demand?

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

Which of the following is the true 8 demand types?

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

What is a latent demand?

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Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

Explain what STP means

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

Which of the following is true about value propositions?

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

What is free purchasing power?

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

Which of the following are the 4 aspects to the hollistic marketing concept?

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Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

What does the hollistic concept of integrated marketing describe?

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

Which is true about core competencies?

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

According to the value chain, which strategies should you follow if: 


a) You're good at support processes


b) You're good at primary activities

Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

In the value delivery process, which of the 4P's are involved in providing the value.

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Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

What is a need and what are the 5 different types?

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Exemplary flashcards for Marketing at the Technische Hochschule Nürnberg on StudySmarter:

Marketing

What is the difference between a want and a demand?

A want is an item that fulfils a need and a demand is a want backed by the ability to pay.

Marketing

Which of the following is the true 8 demand types?

Negative demand, irregular demand, latent demand, non-existent demand, declining demand, full demand, overfull demand and unwholesome demand.

Marketing

What is a latent demand?

A demand that doesn't exist yet, but will in the future.

Marketing

Explain what STP means

Segment, target and position. Identify market segment, then zoom in on target group and finally position your product.

Marketing

Which of the following is true about value propositions?

Value propositions are how the consumer ranks their buying options.

Marketing

What is free purchasing power?

It describes the consumer's ability to substitute different goods for each different need.

Marketing

Which of the following are the 4 aspects to the hollistic marketing concept?

Relationship marketing, external  marketing, performance marketing and internal marketing

Marketing

What does the hollistic concept of integrated marketing describe?

The tracking of performance measures such as finances, returns on marketing investment (ROMI) and benchmarking.

Marketing

Which is true about core competencies?

Core competencies are how the business communicates the value of their products/services.

Marketing

According to the value chain, which strategies should you follow if: 


a) You're good at support processes


b) You're good at primary activities

a) if you're good at support processes, then you should aim to be a cost leader.


b) If you're good at primary activities, you need a differentiation strategy.

Marketing

In the value delivery process, which of the 4P's are involved in providing the value.

Product, price, place and promotion

Marketing

What is a need and what are the 5 different types?

Needs a basic items every human needs to exist.


  •  Stated need (customer specifically says – I want a cheap car)
  • Real need (Realistically, it also needs to be cheap, but also have low running costs, be safe etc.)
  • Unstated need (in the mind of the customer – I need warranty with this)
  • Delight need (small add-ons that are expected – a box of chocolates for buying a new car)
  • Secret need (a status that comes with buying a product- you have an IPhone, everyone thinks you’re rich). 

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