Term
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Definition
| The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. |
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Term
| U.S. Four eras of Marketing |
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Definition
(1) production,
(2) selling,
(3)marketing concept
(4) customer relationship |
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Term
The Production Era
time
Philosophy
goal |
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Definition
from the first European settlers in America until the early 1900
Philosophy: Produce as much as you can, because there is a limitless market for it.
goal: production |
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Term
Selling Era
Time
Philosphy |
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Definition
1920-1970
Philosphy: sell |
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Term
The Marketing Concept Era
time
Philosphy |
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Definition
1945-2005
Philosphy: Marketing Concept |
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Term
| Define: marketing concept |
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Definition
A three-part business philosophy:
(1) a customer orientation - Find out what consumers want and provide it for them.
(2) a service orientation - customer satisfaction
(3) a profit orientation - Focus on those goods and services that will earn the most profit |
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Term
The Customer Relationship Era
Time
Philosophy |
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Definition
1990 - Today
Philosophy: Customer Loyalty |
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Term
| Define: Customer relationship management |
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Definition
| the process of learning as much as possible about present customers and doing everything you can over time to satisfy them-or even to exceed their expectations with goods and services |
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Term
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Definition
1. Product
2. Price
3. Place
4. Promotion |
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Term
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Definition
| The ingredients that go into a marketing program: product, price, place, and promotion. |
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Term
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Definition
| Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand. |
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Term
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Definition
| The process of testing products among potential users. |
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Term
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Definition
| A word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors. |
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Term
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Definition
| the middle links in a series of organizations that distribute goods from producers to consumers |
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Term
| Define: marketing research |
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Definition
The analysis of markets to determine opportunities
and challenges, and to find the information needed to make good decisions. |
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Term
| 4 steps in a simplified marketing research process |
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Definition
1. Defining the question and determining the present situation.
2. Collecting research data.
3. 'Analyzing the research data.
4. Choosing the best solution and implementing it. |
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Term
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Definition
| Information that has already been compiled by others and published in journals and books or made available online |
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Term
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Definition
| Data that you gather yourself |
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Term
| Which type of data should marketers gater first? |
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Definition
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Term
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Definition
| a group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues |
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Term
| Market research is a ____ process |
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Definition
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Term
| Define: Environmental Scanning |
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Definition
| the process of identifying factors that can affect marketing success. |
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