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want-satisfying power of a good or service
Form, Time, Place, and Ownership |
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| partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market. |
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| lifetime value of a customer |
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| revenues and intangible benefits that a customer brings to all org's over an average lifetime, minus the investment the firm has made to attract and keep the customer. |
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| buyer-seller communications in which the customer controls the amount and type of info received from a marketer through such channels as internet, toll free #'s and CD rom's. |
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| Identification and marketing of a social issue, cause, or idea to selected target markets |
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| company wide consumed orientation with the objective of achieving long-run success |
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| Incorporating the marketing concept that emphasises the unment customer needs and designing a system for satisfying them. |
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| market where there are more goods and services than ppl are willing to buy |
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| market where there are more buyers for fewer goods and services. |
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| Process of planning and executing the conception pricing, promotion, and distribution of ideas, goods, services, organization, and events. To create and maintain relationships that will satisfy individual organizational objectives. |
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| product, price, promotion, place |
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| 5 non-tarditional marketing |
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Definition
| person, place, cause, event, and organization |
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Term
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Definition
| Implimenting planning activities devoted to achieving marketing objectives |
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| determining an organization's primary objectives and adopting courses of action that will achieve these objectives. (long- Term 5yr) |
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Definition
| planning that guides the implementation of activities specified in the strategic plan ( short term) |
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| overall, companywide program for selecting a particular target market and then satisfying consumers in that market through the a blend of place, promotion, price, and priduct. |
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| Model that identifies 5 competitive forces: threat of new entrants, thret of substitute products, rivalry among competitor, bargaining power of buyers, and bargaining power of suppliers. |
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| theory advocating that the company that is 1st to offer a product in a marketing place will be the long-term market winner. |
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Definition
| observing closely the innovations of the 1st movers and then intoducing new product that improve on the original offering to gain advantage in the market place. |
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| SWOT (strength, weakness, opportunities, and threats) |
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Definition
| Helps planners compare internal organizational strengths and weaknesses with external opportunities and threats. |
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| decisions about goods and services a firm will offer about customer service, packaging, brand names, ect.. |
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| ensures that the cunsumers find their products in the proper quantities at the right times and places. |
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| Communication link between buyers and sellers. function of informing, persuading, and influencing a consumers, purchase decision. |
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| key business units within diversified firms. |
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| process of collecting info about external marketing environment to identify and interpret potential trends. |
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| attainment of organizational objectives by predicting and influencing the competitive, political legal, economic, technological, and social-culural environments. |
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Definition
| interactive process that occurs in the marketplace among marketers of directly competitive products, marketers of products that can be substitued for 1 another, and marketers competing for the consumer's purchasing power. |
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| strategy of developing and distributing goods and services more quickly than competitors. |
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| political-legal environment |
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Definition
| component of marketing environment consisting of laws and imterpretations of laws that require firms to operate under competitive conditions and to protect consumer rights. |
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Definition
| factors that influence consumer buying power and marketing startegies including stage of the business cycle, inflation, unemployment, income, and resource availablity. |
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| process of reducing consumer demand for a good or service to level that the firm can supply |
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| applications to marketing of knowledge based on discoveries in science, inventions, and innovations. |
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| social cultural environmant |
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| componant of the marketing environment consisting of the reationship between the marketer and society and its culture. |
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| social force within the environment designed at aid and protect the consumer by exerting legal, moral, and economic pressures on business and government. |
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| marketing philosophies, policies, and procedures, and actions that have the enhancement of society's welfare as a primary objective. |
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Definition
| production, promotion, and reclamation of environmentally sensitive products. |
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