Term
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Definition
| The difference between the consumer's current state, and the desired state. |
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Term
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Definition
| The desire to satisfy needs in certain ways that are culturally and socially influenced. |
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Term
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Definition
| The outcome sought by a customer that motivates buying behaviour |
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Term
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Definition
i) Consumer goods
ii) B2B Goods
iii) Not-for-profit marketing
iv) Idea, Place, and People Marketing |
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Term
| Marketing Decision Process |
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Definition
i) Understand the Opportunity
- Situational Analysis
ii) Marketing Strategy
- STP
iii) Marketing Mix
- PPPP
iv) Implementation and Evaluation |
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Term
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Definition
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Term
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Definition
| A value that competitors don't offer. |
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Term
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Definition
| A perspective that consumer spending is driven by psychological attachment to brands; companies must stand out from the crowd |
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Term
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Definition
| A management philosophy that marketers must satisfy consumers' needs in ways that benefit society & also deliver profits. |
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Term
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Definition
| Emphasizes the most efficient way to produce and distribute goods. |
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Term
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Definition
| Emphasizes the most efficient way to move products out and reduce inventory. |
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Term
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Definition
| Emphasizes the most efficient way to satisfy customer needs & wants. |
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