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Definition
| ppl giving up something in order to receive something they would rather have..opportunity cost |
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Term
MARKETING MANAGEMENT PHILOSOPHIES
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Definition
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Term
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Definition
| a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the market place.. Ex: Apple |
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Definition
| the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Ex- toyota aggressive after massive recall to regain customer confidence |
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| the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives.understanding competitive arena and competitors strengths and weaknesses critical to this phil. |
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| societal martketing orientation |
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Definition
| the idea that an organization exists not only to satisfy customer wants and needs and to meet orgaizational objectives but also to preserve or enhance individuals' and society's long term best interests. Coca-cola recycling plant. Burts Bees. |
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Definition
| the relationship between benefits and the sacrifice necessary to obtain those benefits. |
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Term
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| customers eval of a good or service in terms of whether it has met their needs and expectations...offer products that perform, earn trust, avoid unrealistic pricing, give the buyer facts, offer organization wide commitment in service and after-sales support, Co-creation...Ex comcast example of what not to do! |
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Definition
| delegation of authority to solve customers' problems quickly---usually by the first person the customer notifies regarding a problem |
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Definition
| the managerial process of creating and maintaining a fit between the organization's ovjectives and resources and the evolving market opportunities..long run profitability and growth |
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| elements of a marketing plan |
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Definition
| business mission statement>SWOT. {Marketing strategy}>Target market>Marketing mix (4ps)> implementation evaluation control |
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Term
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Definition
| a statement of the firm's cusiness based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions; clarity of purpose |
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Term
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Definition
SW-internal strengths/weaknesses
OT-external opportunities and threats... like ecomonic issues, technology, cultural shifts, political/legal, media |
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