Term
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Definition
| The activity, set of institutions, and processes for creating, communicating, delicering, and exchanging offerings that have value for customers, clients, partners, and society at large. |
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Term
Ch1
Marketing Management Philosophies |
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Definition
1) Production
2) Sales
3) Market
4) Societal Marketing |
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Term
Ch 1
The Marketing Concept |
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Definition
| A simple and intuitively appealing philosophy that articulates a market orientation. |
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Term
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Definition
| People giving up something in order to receive something they would rather have. |
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Term
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Definition
| The relationship between benefits and the sacrifice necessary to obtain those benefits. |
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Term
Ch 1
Customer Satisfaction |
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Definition
| Customer's evaluation of a good or service in terms of whether it has met their needs and expectations. |
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Term
Ch 1
Relationship Marketing |
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Definition
| A strategy that focuses on keeping and improving relationships with current customers. |
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Term
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Definition
| Delegation of authority to solve customers' problems quickly. |
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Term
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Definition
| The managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities. |
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Term
| Ch 2 Marketing Plan & Elements |
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Definition
A written document that acts as a guidebook of marketing activities for the marketing manager.
- Business Mission Statement
- Situation/SWOT Analysis
- Objectives
- Marketing Strategy
- Marketing Mix- Product, Distribution, Promotion, Price
5. Implementation Evaluation Control |
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Term
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Definition
| A statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions. |
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Term
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Definition
| Defining a business in terms of goods and services rather than in terms of the benefits customers seek. |
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Term
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Definition
Strengths
Weaknesses
Opportunities
Threats |
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Term
Ch 2
Environmental Scanning |
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Definition
| Collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan. |
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Term
Ch 2
Competitive Advantage
Types |
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Definition
A set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition.
Cost Competitive Adv
Product Differentiation Comp Adv
Niche Comp Adv |
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Term
Ch 2
Sustainable Competitive Advantage |
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Definition
| An advantage that cannot be copied by the competition. |
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Term
Ch 2
Strategic Alternatives |
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Definition
Market Penetration
Market Development
Product Development
Diversification |
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Term
Ch 2
Target Market Strategy |
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Definition
| Market Opportunity Analysis |
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Term
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Definition
| Gauging the extent to which the marketing objectives have been achieved during the specified time period. |
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Term
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Definition
| Provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines. |
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Term
Ch 3
Corporate Social Responsibility |
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Definition
| A business's concern for the society's welfare. |
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Term
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Definition
| The idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time. |
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Term
Ch 3
Pyramid of Social Responsibility |
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Definition
A firm's economic performance supports the entire structure.
Philanthropic responsibilities
Ethical responsibilities
Legal responsibilities
Economic responsibilities |
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Term
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Definition
| The moral principles or values that generally govern the conduct of an individual or a group. |
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Term
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Definition
| The rules people develop as a result of cultural values and norms. |
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Term
Ch 3
Morality of Business Ethics |
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Definition
Pre-conventional morality
Conventional morality
Post-conventional morality |
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Term
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Definition
| A guideline to help marketing managers and other employees make better decisions. |
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Term
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Definition
| Values, attitudes, and lifestyles. |
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Term
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Definition
| People's vital statistics such as age, race/ethnicity, and location. |
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Term
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Definition
Tweens: age 8-12; view ads as "just advertisement" & notice product placements
Teens: always plugged in.
Y: 1979-1994 Millennials are inquisitive, opinionated, diverse, time managers, quick shoppers, want fulfillment, multitaskers, environmentally aware
X: 1965-1978; ages 30-40s, sending their kids to college
Baby Boomers: 1946-1964; service needs. |
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Term
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Definition
African Americans:
Asian Americans:
Hispanic Americans: |
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Term
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Definition
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Term
Ch 4
Technological Factors |
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Definition
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Term
Ch 4
Political and Legal Factors |
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Definition
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Term
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Definition
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Term
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Definition
| An intermediary in the global market who assumes all ownership risks and sells globally for its own account. |
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Term
Ch 5
Contract Manufacturing |
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Definition
| Private-label manufacturing by a foreign company. |
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Term
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Definition
| A form of trade in which all or part of the payment for goods/services is in the form of other goods/services. |
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Term
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Definition
| Selling domestically produced products to buyers in other countries. |
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Term
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Definition
| Someone who acts like the manufacturer's agent for the exporter; the export agent lives in the foreign market. |
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Term
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Definition
| Someone who plays the traditional broker's role by bringing buyer and seller together. |
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Term
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Definition
Targets markets throughout the world.
Benefits- economic freedom, spurs competition |
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Term
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Definition
| Heavily engaged in international trade, beyond exporting and importing. |
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Term
Ch 5
Global Market Standardization |
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Definition
| Production of uniform products that can be sold the same way all over the world. |
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Term
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Definition
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Term
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Definition
| a learned tendency to respond consistently toward a given object. |
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Term
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Definition
| an organized pattern of knowledge that an individual holds as true about his or her world. |
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Term
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Definition
| inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. |
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Term
Ch 6
Consumer Decision Making Process |
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Definition
Need Recognition
Information Search
Evaluation of Alternatives
Purchase
Post-Purchase Behavior |
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Term
Ch 5
Cultural, Social, Individual, & Psychological factors in determining consumer buying processes |
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Definition
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Term
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Definition
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Term
Ch 6
Internal/External Info Search |
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Definition
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Term
Ch 6
Marketing/Non-Marketing controlled info |
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Definition
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Term
Ch 6
Evoked/Consideration Set |
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Definition
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Term
Ch 6
Extensive & Limited Decision Making |
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Definition
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Term
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Definition
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Term
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Definition
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Term
Ch 6
Maslow's hierarchy of needs |
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Definition
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Term
Ch 6
Membership Group
Primary & Secondary |
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
Ch 6
Reference Group
Aspirational & Non-Aspirational |
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Definition
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Term
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Definition
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Term
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Definition
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Term
Ch 6
Selective Distortion, Exposure, & Retention |
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Definition
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Term
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Definition
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Term
Ch 6
Self-Image
Real & ideal |
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Definition
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Term
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Definition
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Term
Ch 6
Socialization Process |
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Definition
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Term
Ch 6
Stimulus
Discrimination & Generalization |
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Definition
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Definition
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Definition
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