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| The delegations of authority to serve customer problems quickly. |
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| A strategy that focuses on keeping and improving relationships with current customers. |
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| Customers evaluation of a good or a service whether it has met their needs or expectations. |
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| 2 or more people giving up something, in order to recieve something they'd rather have. |
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| The activity, the set of institutions process for, creating, communicating, delivering, exchanging, offerings, that have value for customers, clients, partner, and society at large. |
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| A written document that acts as a guidebook |
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| All sides are on the same page. |
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| What is the first desired outcome of marketing? |
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| What is primarily directed at your customer? |
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| Who is the best at team work? |
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| All organizations must have what? |
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| How many people are in the U.S.? |
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| What are 3 ways to expand marketing shares? |
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Definition
attract new customers
throw a bone, or give bonuses
retain current customers |
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| What does the AMA describe marketing as? |
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| Marketing can not occur unless there is an exchange |
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| Exchange only involves money |
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| With exchange you need money and barter |
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| Marketing not only focuses on benefits to customers, but long term, mutually, rewarding relationships. |
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| Marketing is too important to be left only to the marketing department |
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| The customer is always right |
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| What do you have to have in order for there to be marketing? |
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| A statement of what is to be accomplished through marketing activities |
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| A group of buyers with common needs |
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| What are the 4 P's of the Marketing Mix? |
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Product
Place
Promotion
Pricing |
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| Both favorable and unfavorable that 2 or more people recieve. It has a packaged warranty, after sale service, and a brand name. |
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| Any tangible goods. An idea, hairdryer, or medical care |
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| Concerned with making products when and where customers want them |
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| Advertising, Public Relations, Sales Promotion, and Samples |
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| What a buyer must give up to obtain the product |
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| Satisfies the individuals personal wants |
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| Inexpensive with little shopping efforts |
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| Found in fewer stores and more expensive |
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| Consumers search extensively |
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| Unknown to potential buyer, company must go directly to them |
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| Mission statements become too narrow |
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Strength
Weakness
Opportunity
Threats |
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| The interpretation of collecting and analyzing for strategical purposes |
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| Group of people or organization in which a company implements a marketing mix, intended to meet the needs of that group, resulting in mutual satisfying exchanges |
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| Number of products in the product line |
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| The number of product lines an organization offers |
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| A concept that provides a way to trace the stages of the products acceptance from its introduction to the decline |
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| What is in the Product life cycle? |
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Introduction
Growth
Maturity
Decline |
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| Marketing function that evaluates public attitudes, identifies areas within the organization, the public may be interested in, and executes a program of action, and to earn public understanding and acceptance |
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| Advertising/ Sales Promotion |
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| Any form of impersonal paid communication, in which a sponsor is identified |
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| A traditional form of advertising is___ |
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| Newspapers, magazines, tv's, books, and billboards |
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| Consist of all marketing, except personal selling |
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| # 1 Promotion in marketing is ___ |
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| Food/Liquor/soda/beverage |
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| All the activities relating to the sale of goods and services to the ultimate consumer, for personal, non-business use |
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| 20% of people are working in ___ |
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| Retail establishments can be classified 4 ways: |
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Definition
according to ownership
level of service
product assortment
price |
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| Owned by 1 person or partnership and no operated by large retail institution |
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| Part of a group of the same stores owned by and opperated by single opperation. Many tasks are handled by the home office for the entire chain. The office buys all the products |
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| Owned and operated by individuals but licensed by a franchisor |
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| Housing several departments under one roof. Carries a wide variety of goods |
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| a department head who not only selects merchandise, but may also be responsible for promotion and personnel |
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| A retail store specializing in a specific type of merchandise |
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| Large, departmentalized, self service. Retailers that specialize in food and sometimes non food items. One stop service. |
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| Tendency to offer a wide variety of non traditional goods and services under one roof |
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| a retail store that stocks pharmacy related products, and help products, as its main job |
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| Minature supermarket carrying only a limited line of convenient products. prices are always higher. |
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| Bread is an example of Consumer Product |
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| 50% of your sale goes to marketing |
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| The Marketing Mix is always built around customers |
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