# Marketing and Innovation Management at TU München

## Flashcards and summaries for Marketing and Innovation Management at the TU München

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## Study with flashcards and summaries for the course Marketing and Innovation Management at the TU München

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

What is a market segment?

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

A marketing research company has just informed Jane that she can be classified as an early adopter. Which of the following characteristics will Jane most likely have?

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

What is a positioning

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

Psychographic segmentation

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

Which statement about the PLC (Product Life Cycle) is correct?

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

The following differential equation describes a diffusion process:
dN/dt = (p + q N)(N_total - N). In this equation, N - more precisely, N(t) - denotes the number of people in the market who, at time t, have adopted the good. We assume that each person buys at most one unit. In this equation, which effect is expressed through the parameter p=

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

The Value Delivery Network - Upstream partners

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

Prerequisites for a successful positioning?

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

Market research behind Segmentation

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

Behavioral Segmentation

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

What is a holistic view on digital business models?

### Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

In the context of the resource-based view of the firm, what does VRIN stand for?

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## Exemplary flashcards for Marketing and Innovation Management at the TU München on StudySmarter:

Marketing and Innovation Management

What is a market segment?

A market segment consists of a group of customers who share a similar set of needs and wants.

Marketing and Innovation Management

A marketing research company has just informed Jane that she can be classified as an early adopter. Which of the following characteristics will Jane most likely have?
1. She waits until uncertainty about a new product is resolved.

2. She is a well-integrated into her social system.

3. She has a skeptical attitude about new ideas.

4. She makes decisions based primarily on past experience.

Marketing and Innovation Management

What is a positioning

Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.

Marketing and Innovation Management

Psychographic segmentation

Segmentation based on traits, values, or lifestyles;

AIO factors that describe lifestyles

• Activities
• Interests
• Opinions

Marketing and Innovation Management

Which statement about the PLC (Product Life Cycle) is correct?
1. In the specific phase, each firm develops its own, specific Innovation design, hoping that it becomes the dominant design.

2. In the specific phase, increasing levels of firm specialization entail shrinking firm size.

3. In the fluid phase, production is highly efficient due to well-established processes.

4. In the transitional phase, the number of process innovations peaks.

Marketing and Innovation Management

The following differential equation describes a diffusion process:
dN/dt = (p + q N)(N_total - N). In this equation, N - more precisely, N(t) - denotes the number of people in the market who, at time t, have adopted the good. We assume that each person buys at most one unit. In this equation, which effect is expressed through the parameter p=
1. Network externalities

2. Word of mouth

4. Price

Marketing and Innovation Management

The Value Delivery Network - Upstream partners

Suppliers of raw material, components, parts, information, finances, and expertise to create a product or service

Marketing and Innovation Management

Prerequisites for a successful positioning?

Understand the decision making processes of the market segment (See lecture 5)

identify industry and market competitors, as well as strategic groups (see lecture 6)

Marketing and Innovation Management

Market research behind Segmentation

Desk research, qualitative and quantitative approaches; the latter often includes surveys that are analyzed by using a cluster analysis

Marketing and Innovation Management

Behavioral Segmentation

• Benefits sought
• User status
• User rate
• Loyalty Status

Marketing and Innovation Management

What is a holistic view on digital business models?

(holistic means ‘ganzheitlich’)

• Digital Business Models transform companies from “place” (tangible, product-based, customer-transaction oriented) to “space” (increasingly intangible, more service-based, customer-experience oriented)
• Three components are important: Content (what is consumed), Customer experience (how is it packaged) and platform (how is it delivered)
• Companies do not need to be leaders in all three areas currently (may change in future)

Marketing and Innovation Management

In the context of the resource-based view of the firm, what does VRIN stand for?
1. valuable, remarkable, irreplacable, novel

2. valuable, remarkable, innovative, non-substituable

3. valuable, rare, innovative, novel

4. valuable, rare, inimitable, non-substituable

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