Term
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Definition
| Core need satisfier: goods, services, experiences, and ideas |
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Definition
| Access & Availability: timing, location, mode, distribution channel |
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Definition
| Time, form, place, possession |
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Definition
| Monetary Valuation: cost oriented, demand oriented, competition oriented |
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Definition
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Definition
| %△Quantity Demanded/ %△Price |
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Term
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Definition
| Pricing above competition |
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Term
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Definition
| pricing below competition |
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Term
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Definition
| Pricing on par* with competition |
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Term
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Definition
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Term
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Definition
| Advertising, personal selling, sales promotion, public relations |
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Term
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Definition
| mass communication, non-personal, one-way, indirect feedback, low C.P.M., high control |
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Definition
| "One-on-one", personal communication, 2-way, direct feedback, high C.P.M., low control |
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Term
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Definition
| coupons, samples, combination offers, P.O.P (point of purchase) displays, games/contests, continuity programs,rebates |
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Term
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Definition
| Organizational "publics": employees, costumer, financial, community, regulatory, news media, suppliers/channel members, industry/professinal |
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Term
| Major Public Relations Methods |
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Definition
| publicity, institutional advertising, "publications", lobbying, tours/open house, speaker's bureaus |
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Term
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Definition
| premium offers, packaging, "permanent media", product placement, "word of mouth"(aka buzz marketing), value |
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Term
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Definition
| Marketing perception that marketing mix benefits are greater than costs. |
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Term
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Definition
| Market perception of performance on most important attributes. |
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Term
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Definition
| Market perception that performance is greater than or equal to expectations |
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Term
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Definition
| Market Definition of the Business, Coordination and Integration of the Marketing Effort, Social Responsibility, Environmentally Responsive Market Planning |
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Term
| Marketing Definition of the Business |
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Definition
-practice target marketing
a. demographic
b. geographic
c. psychographic: vslues, lifestyles, personality traits
*VALS*
d. volume
e. benefit: sensory, sociables, worriers
f. institutional |
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Term
| Marketing Definition of the Business Con't |
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Definition
1. Practice Target Marketing
2. Develop "Extended Product Service"
3. Establish Relationship Marketing Strategies
4. Lifetime Value of a Customer |
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Term
| Coordination and Integration of the Marketing Effort |
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Definition
- H.R.M Process
> job descriptions> recruiting/selection> orientation
- Cross Functional Coordination
- Internal Marketing |
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Term
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Definition
- Obey Laws/ Ethical Code
a. JFK's Consumer Bill of Rights: consumers have a right to safety
~ FDA,EPA,CPSC(Consumer Products Safety Comission) |
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Term
| Social Responsibility Cont |
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Definition
b. right to be informed [deceptive acts and practices].
- material falsity: has the capacity to deceive on a material point
vs.
- permissible puffery
*FTC: Federal Trade Comission*
- FDA
- USPS |
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Term
| Social Responsibility Cont |
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Definition
c. Right to Choose [anti-competitive acts and practices].
*FTC* |
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Term
| Social Responsibility Cont |
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Definition
c. Right to Choose [anti-competitive acts and practices].
*FTC* |
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Term
| Environmentally Responsive Marketing Planning |
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Definition
a. Situation Analysis
-SWOT: strengths & weaknesses, opportunities & threats |
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Term
| Environmentally Responsive Marketing Planning Cont |
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Definition
| - Social, Economic, Political/Legal, technological, and competition*(3 levels) |
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Term
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Definition
1. Brand Level: market needs-same, products-same
2. Product Level: market needs-similar, products-similar
3. Generic Level: market needs-similar, products-very different |
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Term
| Analysis of Market Demand |
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Definition
States
- "NO" Demand> stimulational marketing
- Negative Demand> conversional marketing |
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Term
| Analysis of Market Demand Cont |
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Definition
*Latent Demand*: Demand for something that does not yet exist as a product
- Developmental Marketing
~ Faltering Demand>remarketing
~ Irregular Demand>synchro-marketing |
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Term
| Analysis of Market Demand Cont |
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Definition
b. Set Objective [where do we want to be?]
1. Profit [ROMI: return on marketing investment]
2. Sales [Units, Dollar Revenue]
3. Market share
4. Brand Equity: financial & marketing value of your brand
- awareness, association, quality, and loyalty
5. Efficiency |
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Term
| Analysis of Market Demand Cont |
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Definition
c. Strategy [how do we get there?]
>target market(s)
>marketing mix |
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Term
| Analysis of Market Demand Cont |
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Definition
d. Evaluation & Control [how are we doing?]
- are we achieving our goals?, feedback on our strategy, monitor your situation, monitors itself, MIS: Marketing Information System |
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