Study sets matching "basic marketing"

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Study sets matching "basic marketing"

Marketing--Basics
Channel management
Marketing information management
Market planning
Pricing
Decides how to get goods to customers (distribution)
Gathers, stores, and analyzes customer trends, and competition
Targets specific marketing strategies
Based on costs and what competitors charge for the same produ…
Channel management
Decides how to get goods to customers (distribution)
Marketing information management
Gathers, stores, and analyzes customer trends, and competition
66 terms
Basic Marketing
Merchant Wholesalers
Message Channel
Metropolitan Statistical Area (MSA)
Micro - macro dilemma
Wholesalers who own the product they sell
The carrier of the message
An integrated economic and social unit with a large populatio…
What is good for some producers abd consumers may not be good…
Merchant Wholesalers
Wholesalers who own the product they sell
Message Channel
The carrier of the message
16 terms
Marketing Basics
Marketing
Goods
Services
Marketing Concept
The activity, set of institutions , and processes for creatin…
Tangible items that have monetary value and satisfies your ne…
Intangible items that have monetary value and satisfy your ne…
The idea that a business should strive to satisfy customers n…
Marketing
The activity, set of institutions , and processes for creatin…
Goods
Tangible items that have monetary value and satisfies your ne…
Basic Marketing-Exam 1
Marketing
7 p's
Marketing facilitates exchange. Exchan…
Conditions for Exchange
Is the activity, set of institutions, and processes for creat…
People... Place... Price... Product ... Promotion... Physical evidence ... Proc…
one party give up something and in return for receiving somet…
-At least two people or organizations must be willing to make…
Marketing
Is the activity, set of institutions, and processes for creat…
7 p's
People... Place... Price... Product ... Promotion... Physical evidence ... Proc…
Basic Marketing Terms
7 Functions of Marketing
Marketing
Marketing Mix
Market
1. Product Service Management... 2. Financing... 3. Pricing... 4. Dist…
the process of planning and executing the conception, pricing…
also known as the "4 P's", is made up of Product, Place, Pric…
An economy in which decisions about production and consumptio…
7 Functions of Marketing
1. Product Service Management... 2. Financing... 3. Pricing... 4. Dist…
Marketing
the process of planning and executing the conception, pricing…
21 terms
Marketing Basics
Marketing
Marketing Concept
Marketing mix (4 p's)
Product
The process of developing, promoting, and distributing goods…
The idea that companies need to satisfy their customers while…
product, place, price, promotion
a tangible item that a company sells to its customers.
Marketing
The process of developing, promoting, and distributing goods…
Marketing Concept
The idea that companies need to satisfy their customers while…
basic Marketing
four methods used to segment a market
baby boom generation
consumers
current demographicphysicalic and geog…
demographics ... Physiographic... geographic ... product benefits
the 76 million baby born
are those who use a product
demographic up scaling is a trend of a strong ecomy more and…
four methods used to segment a market
demographics ... Physiographic... geographic ... product benefits
baby boom generation
the 76 million baby born
Basic Marketing
Trends of Influencing Prices
Pricing Objectives
Sales Oriented Pricing Objectives
Status Quo Pricing Objectives
-New product... -increased availability of bargain priced... -maint…
-Profit oriented... -Sales Oriented... -Status Quo
-Market Share(Factors in competition)... -sales maximization (fo…
-maintain existing prices ... -link prices to competition price(…
Trends of Influencing Prices
-New product... -increased availability of bargain priced... -maint…
Pricing Objectives
-Profit oriented... -Sales Oriented... -Status Quo
BASIC MARKETING
Marketing
Goods
Tangible
Services
Process of planning, pricing, promoting, selling, and distrib…
Tangible items that have monetary value
A product you can touch
Intangible items that have monetary value
Marketing
Process of planning, pricing, promoting, selling, and distrib…
Goods
Tangible items that have monetary value
Basic Marketing Chapter 15
Product Advertising
Institutional Advertising
Pioneering Advertising
Competitive Advertising
Advertising that tries to sell a specific product.
Advertising that tries to promote an organization's image, re…
Advertising that tries to develop primary demand for a produc…
tries to develop selective demand for a specific brand rather…
Product Advertising
Advertising that tries to sell a specific product.
Institutional Advertising
Advertising that tries to promote an organization's image, re…
24 terms
Basic Marketing Chapter 10
Place
Channel of Distribution
Direct Marketing
Discrepancy of Quantity
Making goods and services available in the right quantities a…
Any series of firms or individuals who participate in the flo…
Direct communication between a seller and an individual custo…
The difference between the quantity of products it is economi…
Place
Making goods and services available in the right quantities a…
Channel of Distribution
Any series of firms or individuals who participate in the flo…
13 terms
Basic Marketing Chapter 15
Product Advertising
Institutional Advertising
Pioneering Advertising
Competitive Advertising
Advertising that tries to sell a specific product.
Advertising that tries to promote an organization's image, re…
Advertising that tries to develop primary demand for a produc…
Advertising that makes specific brand comparisions using actu…
Product Advertising
Advertising that tries to sell a specific product.
Institutional Advertising
Advertising that tries to promote an organization's image, re…
18 terms
Basic Marketing Concepts
four methods used to segment a market
baby boomers
consumers
current demographic, phsycographic, an…
demographics ... geographics... pscyhographics... product benefits
76 million babies born in the us between 1946 and 1964.
people who use a product.
demographics: up scaling, more and more people desire to bett…
four methods used to segment a market
demographics ... geographics... pscyhographics... product benefits
baby boomers
76 million babies born in the us between 1946 and 1964.
211 terms
Basic Marketing
Ethics
Morals
Code of Ethics
Foreign Corrupt Practices Act (FCPA)
The moral principles or values that generally govern the cond…
The rules people develop as a result of cultural values and n…
A guideline to help marketing managers and other employees ma…
A law that prohibits U.S. corporations from making illegal pa…
Ethics
The moral principles or values that generally govern the cond…
Morals
The rules people develop as a result of cultural values and n…
18 terms
Marketing Basics
Marketing
Goods
Services
Marketing Concept
The activity, set of institutions , and processes for creatin…
Tangible items that have monetary value and satisfies your ne…
Intangible items that have monetary value and satisfy your ne…
The idea that a business should strive to satisfy customers n…
Marketing
The activity, set of institutions , and processes for creatin…
Goods
Tangible items that have monetary value and satisfies your ne…
Basic Marketing
A company adhering to the marketing co…
Frequent-flyer programs are an example…
As recently as 20 years ago, circuses…
If a firm has a production orientation…
Conduct research to determine if its customers' needs have ch…
Relationship marketing
Marketing mix
What can we do best?... What can our engineers design?... What is…
A company adhering to the marketing co…
Conduct research to determine if its customers' needs have ch…
Frequent-flyer programs are an example…
Relationship marketing
27 terms
Basic Marketing Chapter 7
marketing research
marketing information system (MIS)
Big Data
data warehouse
Procedures that develop & analyze new info about a market
an organized way of continually gathering accessing, and anal…
a collection of data sets so large and complex that it become…
A place where databases are stored so that they are available…
marketing research
Procedures that develop & analyze new info about a market
marketing information system (MIS)
an organized way of continually gathering accessing, and anal…
12 terms
Marketing Basics
marketing mix
target market
demographics
promotional tools
Product, Price, Place, Promotion
one or more specific groups of potential consumers toward whi…
The statistical data of a population and the groups within it
the communication like between sellers and buyers for the pur…
marketing mix
Product, Price, Place, Promotion
target market
one or more specific groups of potential consumers toward whi…
Basic of Marketing
Marketing
Marketing process
Wants
Demands
consist of the strategies and tactics used to identify, creat…
the process of doing so can be modeled in a sequence of steps…
a desire for something
an insistent and peremptory product that is sold
Marketing
consist of the strategies and tactics used to identify, creat…
Marketing process
the process of doing so can be modeled in a sequence of steps…
55 terms
Basic Marketing Chapter 8
Product
Quality
Service
Product Assortment
The need-satisfying offering of a firm.
A product's ability to satisfy a customer's needs or requirem…
A deed performed by one party for another.
The set of all product lines and individuals products that a…
Product
The need-satisfying offering of a firm.
Quality
A product's ability to satisfy a customer's needs or requirem…
5 terms
Marketing Basics
4 P's
STP
5 C's
External Factors
Product, Place, Price, Promotion
Segmenting, Targeting, Positioning (How target markets are cr…
Competitors, Consumer, Context/Condition (Policies, Laws, Tec…
Strengths, Weaknesses
4 P's
Product, Place, Price, Promotion
STP
Segmenting, Targeting, Positioning (How target markets are cr…
marketing basic
marketing mix
target market
demographic
promotional tools
price, production, promotion, place
a group of costumers that the business has decided to aim its…
statistical data to the population and participial groups wit…
the communication link between sellers and buyers fro the pur…
marketing mix
price, production, promotion, place
target market
a group of costumers that the business has decided to aim its…
Marketing Basics
Marketing
Marketing Concept
The Marketing Mix(4 P's)
Product
includes all the processes used to identify, create, and main…
focuses on identifying and satisfying the needs of customers…
Product, Price, Place Promotion
What are you selling
Marketing
includes all the processes used to identify, create, and main…
Marketing Concept
focuses on identifying and satisfying the needs of customers…
Basic Marketing Chapter 13
Promotion
Personal selling
mass selling
Advertising
Communicating information between the seller and potential bu…
direct spoken communication between sellers and potential cus…
Communicating with large numbers of potential customers at th…
Any paid form of nonpersonal presentation of ideas, goods, or…
Promotion
Communicating information between the seller and potential bu…
Personal selling
direct spoken communication between sellers and potential cus…
52 terms
Marketing Basics
Need
Want
Economic needs and wants
Economic goods and services
Something necessary for survival/society.
Something desired, but could function without.
Satisfied by buying something.
Products bought to satisfy economic needs and wants.
Need
Something necessary for survival/society.
Want
Something desired, but could function without.
14 terms
Basic Marketing Chapter 9
Product Life Cycle
Market Introduction
Market Growth
Market Maturity
The stage a new product idea goes through from beginning to e…
A stage of the product life cycle when industry sells are low…
A stage of the product life cycle when industry sales grow fa…
A stage of the product life cycle when sales are low as a new…
Product Life Cycle
The stage a new product idea goes through from beginning to e…
Market Introduction
A stage of the product life cycle when industry sells are low…
Basics of Marketing
Marketing
marketing process
wants
demands
Consists of the strategies and tactics used to identify, crea…
The process of doing so can be modeled in a sequence of steps…
a desire for something.
an insistent and peremptory request
Marketing
Consists of the strategies and tactics used to identify, crea…
marketing process
The process of doing so can be modeled in a sequence of steps…
22 terms
Marketing Basics
Marketing
Goods
Services
Seven Functions of Marketing
The process of planning, pricing, promoting, selling, and dis…
Tangible items that have monetary value and satisfy needs and…
Intangible means you cannot physically touch
Distribution, financing, marketing information management, pr…
Marketing
The process of planning, pricing, promoting, selling, and dis…
Goods
Tangible items that have monetary value and satisfy needs and…
12 terms
marketing basics
marketing mix
target market
demographics
promotional tools
price product promotion place
a group of customers that the business decided to aim its mar…
statistical data relating to the population and particular gr…
the communication link between buyers and sellers for the pur…
marketing mix
price product promotion place
target market
a group of customers that the business decided to aim its mar…
31 terms
Marketing Basics
Place
Target Market
Promotion
demographics
Locations and methods used to make products available to cust…
A specific group of consumers... that an organization selects as…
Ways to encourage customers ... To purchase products
Statistics that describe a population
Place
Locations and methods used to make products available to cust…
Target Market
A specific group of consumers... that an organization selects as…
34 terms
Marketing Basics
Advertising
Brand
Channel Management
Channels of Distribution
Any paid form of nonpersonal presentation of ideas, images, g…
All the combined impressions and experiences associated with…
A marketing function that involves identifying, selecting, mo…
Paths, or routes, that goods or services take from the produc…
Advertising
Any paid form of nonpersonal presentation of ideas, images, g…
Brand
All the combined impressions and experiences associated with…
21 terms
Marketing Basics
MARKETING FUNCTIONS
Product/Service Management
Distribution
Selling
MARKETING FUNCTIONS
Assisting in the design and development of products and servi…
Determining the best methods to be used to help consumers loc…
Direct, personal communications with consumers in order to de…
MARKETING FUNCTIONS
MARKETING FUNCTIONS
Product/Service Management
Assisting in the design and development of products and servi…
35 terms
Marketing Basics
Marketing
Products
Goods
Services
the process of developing, promoting and distributing product…
Includes goods and services, both of which have monetary valu…
Kinds of things you can touch and hold in your hand
Kinds of things you can't possibly touch
Marketing
the process of developing, promoting and distributing product…
Products
Includes goods and services, both of which have monetary valu…
Marketing Basics
Marketing Concept
Market
Needs
Wants
Philosophy that should analyze the needs and of their consume…
the process of developing, promoting, and distributing produc…
a lack of basic necessities such as food, clothing, or shelter
things that people desire based on personality, experiences,…
Marketing Concept
Philosophy that should analyze the needs and of their consume…
Market
the process of developing, promoting, and distributing produc…
235 terms
Basic Marketing
what is the outline of the process tha…
IMC
sender
deceptive advertising
feedback-> sender (firm) -> transmitter encodes message -> co…
integrated marketing communications... the promotion dimension o…
the firm of which the IMC message originates
practice in an advertisement that is likely to mislead consum…
what is the outline of the process tha…
feedback-> sender (firm) -> transmitter encodes message -> co…
IMC
integrated marketing communications... the promotion dimension o…
12 terms
marketing basic
marketing mix
target market
demographics
promotional tools
price,product,promotion,place
a group of customers that a business decided to aim its marke…
statistical data relating to the population and particular gr…
the communication link between sellers and buyers
marketing mix
price,product,promotion,place
target market
a group of customers that a business decided to aim its marke…
Basics of Marketing
Marketing
Marketing Process
Wants
Demands
the action or business of promoting and selling products or s…
The process of doing so can be modeled in a sequence of steps…
have a desire to possess or do (something);
an insistent and peremptory request, made as if by right
Marketing
the action or business of promoting and selling products or s…
Marketing Process
The process of doing so can be modeled in a sequence of steps…
17 terms
Marketing Basics
4 P's of Marketing
Demographics
dynamic (marketing)
good
product, price, place, and promotion
is market segmentation according to age, race, religion, gend…
Something that is constantly changing, such as the needs and…
Physical item that can be touched
4 P's of Marketing
product, price, place, and promotion
Demographics
is market segmentation according to age, race, religion, gend…
Basics of Marketing
Market
Marketing
Relationship Marketing
Marketing Mix
Group of customers who share common wants and needs
Process of creating, promoting, and presenting a product or s…
Build and maintain relationships with their customers
Four main elements of marketing, also called the four P's: pr…
Market
Group of customers who share common wants and needs
Marketing
Process of creating, promoting, and presenting a product or s…
Basics of Marketing
Marketing Mix
Marketing
Command System
Market System
Overall marketing offer to appeal to the target market. Is co…
The conception, pricing, promotion, and distribution of goods…
Way of economic organization, in which property resources are…
Total product and resource markets of a market economy and th…
Marketing Mix
Overall marketing offer to appeal to the target market. Is co…
Marketing
The conception, pricing, promotion, and distribution of goods…
Marketing Basics
marketing
ideas
goods
services
the activity of creating, communicating, delivering, and exch…
thoughts, messages
tangible items
intangible items
marketing
the activity of creating, communicating, delivering, and exch…
ideas
thoughts, messages
12 terms
Basic Marketing Chapter 1
Marketing
Exchange
4 competing philosophies that have a s…
production orientation
the activity, set of institutions, and processes for creating…
people giving up something in order to receive something they…
productions, sales, societal marketing, market
a philosophy that focus on the internal capabilities of the f…
Marketing
the activity, set of institutions, and processes for creating…
Exchange
people giving up something in order to receive something they…
marketing basics
Buying-possession utility
Selling
Transporting
Storing
arranging deals, getting goods at the best price
set prices, appeal to customer-- possession utility
rail, truck -- utility price
time, utility
Buying-possession utility
arranging deals, getting goods at the best price
Selling
set prices, appeal to customer-- possession utility
12 terms
Marketing basics
marketing mix
target market
demographics
promotional tools
price,product,promotion,place
a group of customers that the business has decided to aim its…
statistical data relating to the population and particular gr…
the communication link between sellers and buyers for the pur…
marketing mix
price,product,promotion,place
target market
a group of customers that the business has decided to aim its…
12 terms
Marketing Basics
Marketing mix
Target Market
Demographics
Promotional tools
price,product,promotion,place.
a group of customers that the business has decided to aim it'…
statistical data relating to the population and particular gr…
the communication link between sellers and buyers for the pur…
Marketing mix
price,product,promotion,place.
Target Market
a group of customers that the business has decided to aim it'…
41 terms
Basic Marketing Ch 4 Terms
market research ethics
database
marketing information system (MIS)
intranet
Taking an ethical and aboveboard approach to conducting marke…
An organized collection (often electronic) of data that can b…
A process that first determines what information marketing ma…
An internal corporate communication network that uses interne…
market research ethics
Taking an ethical and aboveboard approach to conducting marke…
database
An organized collection (often electronic) of data that can b…
13 terms
Marketing Basics
Definition of Marketing
Another Definition:
Utility
Marketing Concept
Organizational Function and a set of processes for creating,…
Any activity directed at satisfying needs & wants through exc…
Sum of benefits we receive from using a product/service.... Base…
Satisfying the needs and wants of your customers subject to t…
Definition of Marketing
Organizational Function and a set of processes for creating,…
Another Definition:
Any activity directed at satisfying needs & wants through exc…
7 terms
Marketing Basics
Marketing
Product
Marketing Mix
Price
Creating and modifying a product to meet customer needs and m…
What a business offers customers to satisfy needs.
A combination of factors that can be controlled by a company…
The amount customers pay for products and services
Marketing
Creating and modifying a product to meet customer needs and m…
Product
What a business offers customers to satisfy needs.
14 terms
Basic Marketing Chapter 11
Logistics
Customer Service Level
Physical Distribution Concept
Total Cost Apporoach
The transporting, storing, and handling of goods in ways that…
How Rapidly and dependably a firm can deliver what they, the…
All transporting, storing, and product handling activities of…
Involves evaluating each possible PD system and identifying a…
Logistics
The transporting, storing, and handling of goods in ways that…
Customer Service Level
How Rapidly and dependably a firm can deliver what they, the…
28 terms
Marketing basics
Marketing
marketing strategy
target market
marketing mix
the activity, set of institutions, and processes for creating…
A company's plan that identifies how it will use marketing to…
a specific group of consumers who have similar wants and needs
the blending of four marketing elements- product, distributio…
Marketing
the activity, set of institutions, and processes for creating…
marketing strategy
A company's plan that identifies how it will use marketing to…
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