marketing final review 2

Created by andrewm919 

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19 terms · ch 21, 22, 1-4

data mining

extracting knowledge from an existing data set and transforming it into a human-understandable structure for further use.

point of sale interactions

communication between customers and organizations that occur at the point of sale, normally in a store.

data warehouse

a central repository for data from various funcitonal areas of the organization that are shared accross all functional departments of the business.

lifetime value

a data manipulation technique that projects the future value of the customer over a period of years using the assumption that marketing to repeat customers is more profitable than marketing to first-time buyers.

social commerce

a subset of ecommerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services.

microblogs

blogs with strict post length limits

corporate blogs

blogs that are sponsored by a company or one of its brands and maintained by one or more of the company's employees

conditions of exchange

atleast two parties, something of value, communication and delivery, freedom to accept or reject, desire to deal with other party.

market orientation

focusing on customer wants and needs to distinguish products from competitors offerings, integrating all the organizations activities to satisfy these wants, acheiving the organization long-term goals by satisfying customer wants and needs legally and responsibly

facets of marketing

a philosophy, an organizational activity

situational analysis

allows firms to identify their competitive advantage.
Internal: strengths and weaknesses.
External: opportunities and threats.

marketing mix

product, place, promotion, price

marketing plan

a written document that acts a guidebook of marketing activities for the marketing manager.

ethics

moral principal values that govern the conduct of an individual or group

green marketing

development and marketing of products designed to minimize negative effects on the physical environment or to imporve the environment

corporate social responsibility

a business's concern for society's welfare.

competitive environment

eccompasses the number of competitors a firm must face, relative size of competitors and degree of interdependence within the industry

age groups

baby boomers, gen x, gen y

inflation

a rise in the general level of prices of goods and services in an economy over a period of time

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