Term
|
Definition
1. philosophy, attitude, perspective, or a management orientation that stresses customer satisfaction
2. organization function and a set of processes used to implement this philosophy |
|
|
Term
|
Definition
1. atleast 2 parties
2. each party must have something that might be of value to the other
3. each party is capable of communication and delivery
4. Each party can accept or reject
5. each party thinks it is appropriate and desireable to deal with the other party |
|
|
Term
There are _____ different philosophies for marketing and they are: |
|
Definition
| 4; Product orientation, market orientation, sales orientation, and societal marketing orientation |
|
|
Term
|
Definition
focuses on the internal capabilities of the firm
weakness: doesn't matter if they meet the needs of the market place |
|
|
Term
|
Definition
satisfy customers needs and wants while meeting the companies objectives |
|
|
Term
|
Definition
people will buy more goods if aggressive sales techniques are used
weakness: fail to see what is important to customer |
|
|
Term
Societal Marketing Orientation |
|
Definition
| satisfy customers wants and needs and to meet orginizational objectives but also preserve or enhance individuals and societys long term best interests |
|
|
Term
|
Definition
| relationship between benefits and the sacrifice necessary to obtain those benefits |
|
|
Term
|
Definition
Focusing on customer wants and needs to distinguish products from competitors’ offerings
Integrating all the organization’s activities to satisfy these wants
Achieving the organization’s long-term goals by satisfying customer wants and needs legally and responsibly |
|
|
Term
Achieving Market Orientation |
|
Definition
1 Obtain information about customers, competitors, and markets
2 Examine the information from a total business perspective
3 Determine how to deliver superior
customer value
4 Implement actions to provide value
to customers |
|
|
Term
|
Definition
customers evaluation of a good or service in terms of whether it has met their needs and expectations |
|
|
Term
|
Definition
a strategy that focuses on keeping and improving relationships with current customers |
|
|
Term
|
Definition
Customer oriented personnel
employee training programs
empowered employees
teamwork |
|
|
Term
|
Definition
managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities |
|
|
Term
|
Definition
How will What is the orginizations main activity?it reach its goals?
A written document that acts as a guidebook of marketing activities for the marketing manager.
|
|
|
Term
Marketing Plan Components |
|
Definition
Mission Statement
Objectives
SWOT Analysis
Marketing Strategy: target market strategy & marketing mix 4 p's
Implementation & Evaluation Control |
|
|
Term
|
Definition
What business are we in?
Focus on the markets rather than the goods or services
|
|
|
Term
|
Definition
a statement of what is to be accomplished through marketing activities
Realistic
Measurable
Time specific
Consistent with and indicating the priorities of the organization
|
|
|
Term
|
Definition
Strength- internal
Weaknesses- internal
Opportunities- external
Threats- external |
|
|
Term
|
Definition
collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan. |
|
|
Term
|
Definition
| The set of unique features of a company and its products that are perceived by the target market as a significant and superior to the competition |
|
|
Term
Types of Competitive Advantage |
|
Definition
Cost
Product/Service Differentiation
Niche Strategies |
|
|
Term
|
Definition
new products into new markets |
|
|
Term
Portfolio Market Strategies |
|
Definition
Build
Hold
Harvest
Divest |
|
|
Term
|
Definition
The activities of selecting and describing one or more target markets and developing and maintaining a market mix that will produce mutually satisfying exchanges with target markets. |
|
|
Term
Corporate Social Responsibility
|
|
Definition
business's concern for societys welfare |
|
|
Term
Social Factors Influenced |
|
Definition
- Products purchased
- Prices paid for products
- Effectiveness of promotions
- How, where, and when people purchase
|
|
|
Term
|
Definition
young teens 8-14, pop. of 29 million, purchasing power of 39 billion, view TV ads as "just advertising", emerging as the richest generation and most influential generation in history |
|
|
Term
|
Definition
born b/w 1979-1994, 60 million, 200 billion purchasing power annually,
Researchers have found Gen Yers to be:
Impatient Family-oriented Inquisitive Opinionated Diverse Time managers “Street Smart”
word of mouth is very effective |
|
|
Term
|
Definition
1965-1978, 40 million, savvy and cynical customers, time is at a premium outsourcing is utilized, entering money making years |
|
|
Term
|
Definition
1946-1964, 77 million, 1 trillion spending power, income will continue to grow as they keep working
|
|
|
Term
|
Definition
pure research that aims to confirm an existing theory or to learn more about a concept phenomenon |
|
|
Term
|
Definition
Consumer Product Safety Commission
Federal Trade Commission
Food and Drug Administration |
|
|
Term
|
Definition
Cease and Desist
Consent Decree
Affirmative Disclosure
Corrective Advertising
Restitution
Counteradvertising |
|
|
Term
External Environmental Factors |
|
Definition
Culture
Economic and Technological Dev.
Political Structure
Demographic Makeup
Natural Resources
|
|
|
Term
|
Definition
common set of values shared by citizens that determine what is socially accepteble |
|
|
Term
|
Definition
| focuses on the needs of the firm instead of defining the firm and its products in terms of the customers' needs and wants |
|
|
Term
| Sustainable competitive advantage |
|
Definition
| lasts only as long as it takes for the competitor to imitate strategy and plans |
|
|
Term
|
Definition
| unique blend of product, distribution promotion, pricing strategy designed to produce mutually satisfying exchanges with a target market |
|
|
Term
| corporate social responisibility |
|
Definition
| business's concern about social welfare |
|
|
Term
|
Definition
| socially responsible companies will outperform their peers by focusing on the world’s social problems and viewing them as opportunities to build profits and help the world at the same time |
|
|
Term
|
Definition
| 4 levels; philanthropic, ethical, legal, economic |
|
|
Term
|
Definition
| preconventional, conventional, postconventional |
|
|
Term
|
Definition
•Based on what will be punished or rewarded
•Self-centered, calculating, selfish |
|
|
Term
|
Definition
•Moves toward the expectations of society
•Concerned over legality and the opinion of others |
|
|
Term
| Postconventional Morality |
|
Definition
•Concern about how they judge themselves
•Concern if it is right in
the long run |
|
|
Term
| Influences Ethical Decisions |
|
Definition
| extent of problems, top management actions, potential consequences, social consensus, probability of harm, time until consequence, number affected |
|
|
Term
|
Definition
| practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle |
|
|
Term
|
Definition
| measure of the decrease in the value of the money, expressed as the percentage reduction in value since the previous year |
|
|
Term
|
Definition
| period of economic activity characterized by negative growth, which reduces demand for goods and services |
|
|
Term
|
Definition
| personal experience, personal sources, and public sources |
|
|
Term
|
Definition
| biased toward a specific product because it originates with marketers promoting that product. These sources include mass-media advertising, sales promotion, salespeople, product labels and packaging, and the Internet. |
|
|
