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An ongoing process of making decisions that guides the firm both in the short rem and the long term |
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A plan that includes the decisions that guide the entire organization |
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Describes the marketing environment and outlines the marketing objectives |
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a managerial decision process that matches an organizations resources and capabilities to its market opportunities for long-term growth and survival |
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Individual units within the firm that operate like separate businesses |
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A decision process that concentrates on developing detailed plans and tactics for the short term |
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A decision process that focuses on developing day-to-day activity plans that match up with the functional plans |
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A formal statement that describes the overall purpose of an organization |
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An assessment of a firms internal and external environments |
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the controllable elements inside an organization (people, facilities, etc) |
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the uncontrollable elements outside an organization |
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The group of different products or brands owned by a company |
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A management tool for evaluating a firms business mix |
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BCG growth market share matrix |
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A portfolio analysis tool that assesses the potential of successful products to generate profit |
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SBUs with products that have a dominant market share in high growth markets |
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SBUs with dominant market share in low growth markets |
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SBUs with low market shares in fast growth markets |
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SBUs with a small share of a slow growth market |
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market development strategies |
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growth strategies that introduce existing products to new markets |
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market penetration strategies |
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Seek to increase sales of existing products in existing markets |
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product development strategies |
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growth strategies that focus on selling new products in existing markets |
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diversification strategies |
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growth strategies that emphasizing new products in new markets |
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return on marketing investment (ROMI) |
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Quantifying how much a marketing investment made an impact on the firms success |
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Individual support plans for various marketing strategies within the marketing plan |
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the actors and forces outside marketing that affect marketers abilities to build relationships with the customer |
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Actors close to the company that affect it (suppliers, resellers, publics, etc) |
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the larger societal features that affect the marketing decisions (political, cultural, etc.) |
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firms that help the company to promote, sell, and distribute its goods to final buyers |
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a group that has an actual or potential interest on an organizations ability to achieve its objectives |
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the study of human populations based on size, density, location, age, race, occupation, etc. |
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-78 M -WW2-1964 -Richest Generation -Retirement targeted |
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-49 M -1965-1974 -frugal -most educated |
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Millennials (Generation Y) |
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-83M -Completely in touch with technology -In debt |
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natural resources that are needed as inputs by marketers or that are affected by marketing activities |
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fresh understandings of the customers and the marketplace become the basis for creating relationships |
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marketing information systems (MIS) |
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people and procedures dedicated to assessing information needs |
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electronic collections of consumer information obtained from data sources within the company network |
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competitive marketing intelligence |
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the systematic collection and analysis of public information about consumers and competitors |
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marketing research used to test hypothesis about cause and effect relationships |
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information that already exists somewhere and was collected for some other purpose |
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information collected for the specific purpose at hand |
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a form of observational research that watches consumers in their natural environment |
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customer relationship management (CRM) |
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Managing detailed information about individual customer touch points to maximize customer loyalty |
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the process involved when people select goods to satisfy their needs and desires |
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the relative importance of perceived consequences of a pruchase |
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the belief that the choice of a product will have negative consequences |
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occurs when the customer sees a difference between his current state and a desired state |
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the consumer searches for info to make a decision |
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marketers deliver ads for products a consumer is looking at online |
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the regret the consumer might feel after making a choice |
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hidden messages in marketers ads |
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the process of assigning meaning to a stimulus |
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an approach that characterizes motives according to five levels of importance |
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a stimulus response is paired with another stimulus response |
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learning that occurs as a result of rewards or punishments |
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knowing vs. doing parts of attitude |
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a means of characterizing consumers within the stage of the family that they are in |
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Measure of a consumers activities, interests, and opinions |
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consumers belief that they are always pressed for time |
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an actual of imaginary group that has an effect on an individuals evaluations |
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