Study sets matching "intro to marketing"

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Study sets matching "intro to marketing"

20 terms
Introduction to Marketing
Marketing Concept
Durable Goods
Customer Orientation
Company Commitment
the overall philosophy of conducting business based on satisf…
tangible items that last a long time such as mobile phones
means "to do it their way" or to meet the needs of the customer
means to "do it better" or the entire company is trying to do…
Marketing Concept
the overall philosophy of conducting business based on satisf…
Durable Goods
tangible items that last a long time such as mobile phones
19 terms
Introduction to Marketing
accounting and finance
bartering
central market
distribution (place)
the business function that plans and manages financial resour…
exchanging products or services with others by agreeing on th…
a location where people bring products to be conveniently exc…
the locations and methods used to make the product available…
accounting and finance
the business function that plans and manages financial resour…
bartering
exchanging products or services with others by agreeing on th…
Introduction to Marketing
Product Concept
Selling Concept
Production Concept
Societal Marketing Concept
Selling strategy based on improving a product (can lead to pr…
Selling strategy based on large-scale promotion efforts
Selling strategy based on highly affordable and mass produced…
Sustainable Marketing that meets the needs of customers while…
Product Concept
Selling strategy based on improving a product (can lead to pr…
Selling Concept
Selling strategy based on large-scale promotion efforts
15 terms
Introduction to Marketing
Business Activities
Producer
Consumer
Moving
"Marketing is all of these."
Where marketing products come from and is the first part of t…
Where marketing products are going and is the last part of th…
Our marketing products are doing this because they're not in…
Business Activities
"Marketing is all of these."
Producer
Where marketing products come from and is the first part of t…
19 terms
Introduction to Marketing
accounting and finance
bartering
central market
distribution (place)
the business function that plans and manages financial resour…
exchanging products or services with others by agreeing on th…
a location where people bring products to be conveniently exc…
the locations and methods used to make the product available…
accounting and finance
the business function that plans and manages financial resour…
bartering
exchanging products or services with others by agreeing on th…
25 terms
Marketing INTRODUCTION
Needs
demand
market segmentation
target marketing
They are the basic requirements and include food clothing and…
is the economic principle that describes a consumer's desire,…
dividing markets into segments of customers
is the practice of aiming goods and services at a specific gr…
Needs
They are the basic requirements and include food clothing and…
demand
is the economic principle that describes a consumer's desire,…
67 terms
Introduction to Marketing
Exchange
Marketing seeks:
Marketing
Requirements for Marketing to Occur
trade of things of value between the buyer and the seller so…
to discover needs of prospective customers and to satisfy them
the activity for creating, communicating, delivering, and exc…
two or more parties with unsatisfied needs; desire and abilit…
Exchange
trade of things of value between the buyer and the seller so…
Marketing seeks:
to discover needs of prospective customers and to satisfy them
12 terms
Chapter 1: Introduction to Marketing
Marketing
Goods
Services
Marketing Concept
the activity, set of institutions and processes for creating…
tangible items that have monetary value and satisfy your need…
in tangible items that have monetary value and satisfy your n…
the idea that a business should strive to satisfy customers n…
Marketing
the activity, set of institutions and processes for creating…
Goods
tangible items that have monetary value and satisfy your need…
27 terms
Introduction to Marketing
Above the line promotion
Below the line promotion
Brand
Brand image
Promotion through advertising: TV, radio, internet, press etc.
Indirect sales promotion other than advertising e.g. price pr…
A name, design or symbol that gives a product, product range…
How a particular brand name is perceived within the market by…
Above the line promotion
Promotion through advertising: TV, radio, internet, press etc.
Below the line promotion
Indirect sales promotion other than advertising e.g. price pr…
Introduction To Marketing
Popular Definitions
The American Marketing Association (AM…
Production-oriented (Manufacturing)... [m…
Product-oriented (Goods)... [market devel…
Marketing is the management process responsible for identifyi…
The process of planning and executing the conception, pricing…
Production efficiency drives down costs
Quest for the Perfect product
Popular Definitions
Marketing is the management process responsible for identifyi…
The American Marketing Association (AM…
The process of planning and executing the conception, pricing…
21 terms
Marketing introduction
***Marketing
*Utility
**Micro-Marketing
**Macro-Marketing
is a social and managerial process by which individuals and g…
the power to satisfy human needs, generating value ... (form, ta…
Performance of activities that seek to accomplish an organiza…
Social process that directs an economy's flow of goods and se…
***Marketing
is a social and managerial process by which individuals and g…
*Utility
the power to satisfy human needs, generating value ... (form, ta…
Introduction to Marketing
When groups establish values and behav…
When a product is unique or difficult…
Rachael, an advertising executive, sho…
When spouses independently make equal…
norms
extended problem solving
personal
autonomic
When groups establish values and behav…
norms
When a product is unique or difficult…
extended problem solving
Introduction to Marketing
Marketing
Industrial Goods
Consumer Goods
Raw Materials
all the activities involved in planning, pricing, promoting,…
Products used in the production of other products and sold in…
Products people buy for personal use
the basic material from which a product is made.
Marketing
all the activities involved in planning, pricing, promoting,…
Industrial Goods
Products used in the production of other products and sold in…
104 terms
Introduction to Marketing
Marketing
Exchange
Market
Target Market
is the activity for... creating, communicating,... delivering, and…
is the trade of things... of value between buyer and seller... so t…
consists of people with... both the desire and the ability to... bu…
consists of... one or more specific groups of... potential consumer…
Marketing
is the activity for... creating, communicating,... delivering, and…
Exchange
is the trade of things... of value between buyer and seller... so t…
12 terms
Introduction to Marketing
marketing
challenges of marketing
production concept
product concept
a process by which companies create value for customers and b…
- diverse and changing consumer preference... - intensifying com…
the idea that consumers will favor products that are availabl…
the idea that consumers will favor products that offer the mo…
marketing
a process by which companies create value for customers and b…
challenges of marketing
- diverse and changing consumer preference... - intensifying com…
Introduction to marketing
Marketing
Marketing size
Market growth
Market share
Marketing is the process of planning and undertaking the conc…
the total level of sales of all producers within a market
the percentage change in the total size of a market over a pe…
the percentage of sales in the total market sold by one busin…
Marketing
Marketing is the process of planning and undertaking the conc…
Marketing size
the total level of sales of all producers within a market
16 terms
Introduction - Marketing
How would you describe marketing?
What core elements make up the marketi…
What are the limitations of the concept?
Describe the differences between a pro…
The textbook describes marketing as an achievement of corpora…
1) Customer orientation... 2) Integrated effort... 3) Goal achievem…
1) Marketing concept as an ideology... - It has never been fully…
A product orientation means the business develops products ba…
How would you describe marketing?
The textbook describes marketing as an achievement of corpora…
What core elements make up the marketi…
1) Customer orientation... 2) Integrated effort... 3) Goal achievem…
121 terms
Introduction to marketing
Marketing Concept
Marketing environment
Macro
Micro
The philosophy that an organization should try to provide pro…
The external forces that take effect upon markets. Examples c…
Political, Social, Technological, Economical, Legal, Physical
Competitors, consumers, Suppliers, Distributors.
Marketing Concept
The philosophy that an organization should try to provide pro…
Marketing environment
The external forces that take effect upon markets. Examples c…
75 terms
Introduction to Marketing Final Exam
Brand
brand loyalty
brand name
consumer product
a name, term, symbol, design or combination thereof that iden…
consistent preference for one brand over all other
that part of a brand can be spoken including letters, words,…
a product bought to satisfy an individual's personal wants
Brand
a name, term, symbol, design or combination thereof that iden…
brand loyalty
consistent preference for one brand over all other
27 terms
Marketing Introduction
Marketing is..
Marketing anticipates and determines
Marketing Incorporates
Value
a process that focusses on creating, capturing, communicating…
the needs and wants of consumers and satisfies needs through…
Research - Anticipates... Target markets - needs and wants of co…
Ratio between what is given up for what is obtained. Both par…
Marketing is..
a process that focusses on creating, capturing, communicating…
Marketing anticipates and determines
the needs and wants of consumers and satisfies needs through…
17 terms
Introduction to Marketing Chapter 3
Social Control
Behavioral Norms
Ethics
Deontological Theory
any means used to maintain behavioral norms and regulate conf…
standards of proper or acceptable behavior, several modes of…
the moral principles or values that generally govern the cond…
ethical theory that states that people should adhere to their…
Social Control
any means used to maintain behavioral norms and regulate conf…
Behavioral Norms
standards of proper or acceptable behavior, several modes of…
9 terms
Introduction to Marketing-chapter 1
Marketing
Exchange
Product orientation
Sales orientation
The activity, set of institutions and processes for creating,…
People giving up something in order to receive something else…
Philosophy that focuses on the internal cap[abilities of the…
The belief that people will buy more goods and services if ag…
Marketing
The activity, set of institutions and processes for creating,…
Exchange
People giving up something in order to receive something else…
Introduction to Marketing
what is marketing? two definitions
what is marketing's core competence?
what are the 5 conditions for an excha…
what is marketing orientation? (3)
1) creating value for customers and building strong customer…
knowledge of customers (needs) and relationships with them
1. at least two parties... 2. something of value... 3. communicatio…
~focusing on customer wants and needs to distinguish products…
what is marketing? two definitions
1) creating value for customers and building strong customer…
what is marketing's core competence?
knowledge of customers (needs) and relationships with them
Introduction to Marketing
Marketing
Marketing Concept (Business Philosophy)
Marketing Strategy
Marketing Strategy
the activity of, and actors tasked with, delivering offerings…
the key to achieving organizational goals lies in being more…
selecting a target segment within the market
design the proper "mix" of product/service, price, promotion,…
Marketing
the activity of, and actors tasked with, delivering offerings…
Marketing Concept (Business Philosophy)
the key to achieving organizational goals lies in being more…
5 terms
Introduction to Marketing
Marketing
Goods and Services
Marketing concept
ultility
all business activities to make a product or service availabl…
Goods-Are tangible items that have monetary value and satisfy…
The idea that a business should strive to satisfy customers'…
The functions of marketing add value to a product
Marketing
all business activities to make a product or service availabl…
Goods and Services
Goods-Are tangible items that have monetary value and satisfy…
introduction to marketing
Strengths, weaknesses, oppositions, th…
which of the 4 categories in the BCG m…
build
hold
SWOT
question mark, stars
Increase market share even at the cost of forgoing short-term…
preserve market share
Strengths, weaknesses, oppositions, th…
SWOT
which of the 4 categories in the BCG m…
question mark, stars
20 terms
Introduction to Marketing
Star
Cash Cow
Question Mark
Dog
High market share in fast growing market
High market share in slow growing market
Low market share in fast growing market
Low market share in slow growing market
Star
High market share in fast growing market
Cash Cow
High market share in slow growing market
10 terms
Marketing introduction
needs
wants
market
target market
include basic physical needs (food, clothing, warmth, safety/…
Human needs take form as wants as they are shaped by culture…
set of actual & potential buyers of product/services
marketing effort focus on specific group(s) of potential cons…
needs
include basic physical needs (food, clothing, warmth, safety/…
wants
Human needs take form as wants as they are shaped by culture…
27 terms
Introduction to Marketing
Above the line promotion
Below the line promotion
Brand
Brand image
Promotion through advertising: TV, radio, internet, press etc.
Indirect sales promotion other than advertising e.g. price pr…
A name, design or symbol that gives a product, product range…
How a particular brand name is perceived within the market by…
Above the line promotion
Promotion through advertising: TV, radio, internet, press etc.
Below the line promotion
Indirect sales promotion other than advertising e.g. price pr…
Introduction to marketing
Marketing
Business Mission
Marketing Mix
Product
is the main process for identifying, anticipating and satisfy…
statement of purpose that distinguishes a business from other…
Product, price, promotion, place, people
the goods and service combination the company offers to the t…
Marketing
is the main process for identifying, anticipating and satisfy…
Business Mission
statement of purpose that distinguishes a business from other…
Introduction to Marketing
LeBron James, Alex Rodriguez, and othe…
The Boston Consulting Group (BCG) Matr…
People who behave like customers are k…
The era from 1950 to 1990 was known as…
positioning... ^positioning is the creation of a clear, distinct…
star
mystery shoppers
marketing era
LeBron James, Alex Rodriguez, and othe…
positioning... ^positioning is the creation of a clear, distinct…
The Boston Consulting Group (BCG) Matr…
star
11 terms
Introduction to Marketing
Marketing
Goods and services
Marketing concept
Utility
Process of planning, pricing, promoting, selling, and distrib…
Goods- tangible items... Services- intangible items
Idea that a business should strive to satisfy customers' need…
Added value in economic terms
Marketing
Process of planning, pricing, promoting, selling, and distrib…
Goods and services
Goods- tangible items... Services- intangible items
43 terms
Introduction to Marketing
Marketing
Channel Management
Marketing information management
Market planning
activity, set of institutions, processes for creating, commun…
decides how to get goods to customers, distributing them at t…
gathers, stores, analyzes customer trends and competition, an…
targets specific marketing strategies
Marketing
activity, set of institutions, processes for creating, commun…
Channel Management
decides how to get goods to customers, distributing them at t…
Introduction to Marketing
Cold Calling
Jingles
Selective Distribution
Loss Leader
Calling on a customer without a prior appoitment
Catchy little tunes played as part of a television or radio c…
When the manufacturer's limit the distribution channels to in…
A retailing device where a particular product is priced below…
Cold Calling
Calling on a customer without a prior appoitment
Jingles
Catchy little tunes played as part of a television or radio c…
22 terms
Introduction to Marketing
5 Cs
4 Ps
STP
WTP-SOC
Customer... Identity, needs, preferences, profitability, segment…
Price, Product, Promotion, Place
Segmentation: Can segment market by gender, age, income level…
Value created for society... Willingness to pay - Supplier Oppor…
5 Cs
Customer... Identity, needs, preferences, profitability, segment…
4 Ps
Price, Product, Promotion, Place
Marketing Introduction
Utility
Marketing is about...
Marketing defined
Micro-Marketing
The power to satisfy human needs
Providing customers with utility generating value.
a social and managerial process by which individuals and grou…
Performanceofactivitiesthatseektoaccomplishan organization's…
Utility
The power to satisfy human needs
Marketing is about...
Providing customers with utility generating value.
Introduction to Marketing
Marketing
Customers
target market
marketing mix
The process of creating, distributing , promoting, and pricin…
The purchasers of organizations' products; the focal point of…
A specific group of customers on whom an organization focuses…
Four marketing activities- product, pricing, distribution, an…
Marketing
The process of creating, distributing , promoting, and pricin…
Customers
The purchasers of organizations' products; the focal point of…
10 terms
Introduction to Marketing
Marketing
Product
Services
Exchanges
The process by which companies create value for customers and…
Anything that can be offered to a market for attention, acqui…
An activity, benefit, or satisfaction offered for sale that i…
The act of obtaining a desired object from someone by offerin…
Marketing
The process by which companies create value for customers and…
Product
Anything that can be offered to a market for attention, acqui…
Introduction to Marketing
accounting and finance
bartering
central market
distribution (place)
the business function that plans and manages financial resour…
exchanging products or services with others by agreeing on th…
a location where people bring products to be conveniently exc…
the locations and methods used to make the product available…
accounting and finance
the business function that plans and manages financial resour…
bartering
exchanging products or services with others by agreeing on th…
20 terms
Marketing Introduction
What is marketing?
Marketing
Target market
Five Ps
The process of planning and executing the conception, pricing…
finds market and then builds a product for it = understand de…
Find a need, cater to it... More effective because creating a pr…
People, Product, Price, Place, Promotion
What is marketing?
The process of planning and executing the conception, pricing…
Marketing
finds market and then builds a product for it = understand de…
8 terms
Introduction to Marketing
Marketing
The 5 P's
Mass Market
Segment
The process by which an organization creates, captures, and s…
Positioning... Product... Place... Promotion... Price
A wide target market. Ex. Teens
A narrower market. Ex. Boys
Marketing
The process by which an organization creates, captures, and s…
The 5 P's
Positioning... Product... Place... Promotion... Price
10 terms
Introduction to Marketing
Needs
Wants
Scarcity
Opportunity cost
Necessities that an individual requires in order to survive.
Things or products that an individual desires but could live…
The lack of abundance in terms of basic human needs essential…
A decision that could've gone a different way, therefore losi…
Needs
Necessities that an individual requires in order to survive.
Wants
Things or products that an individual desires but could live…
15 terms
Introduction to Marketing
Marketing
Goods
Services
Marketing Concept
the activity, set of institutions, and processes for creating…
tangible items that have monetary value and satisfy your need…
intangible items that have monetary value and satisfy your ne…
the idea that a business should strive to satisfy customers'…
Marketing
the activity, set of institutions, and processes for creating…
Goods
tangible items that have monetary value and satisfy your need…
43 terms
Introduction to Marketing
focusing on customer needs:
needs
creating customer value: ... customer va…
value added
- successful marketing is focused on customer needs and devel…
states of felt deprivation, including physical, social, and i…
benefits received by targeted consumers that includes quality…
achieved through a combination of product design, pricing str…
focusing on customer needs:
- successful marketing is focused on customer needs and devel…
needs
states of felt deprivation, including physical, social, and i…
13 terms
Chapter 1 Marketing Introduction
Marketing
Needs
Wants
Demands
Process by which companies create value for customers and bui…
States of felt deprivation
The form human needs take as they are shaped by culture and i…
Human wants that are backed up by buying power
Marketing
Process by which companies create value for customers and bui…
Needs
States of felt deprivation
48 terms
Introduction to Marketing
marketing
need
want
demand
a social and managerial process by which individuals and grou…
states of deprivation (physical,social, and individual)
the form that needs take as they are shaped by culture and in…
wants backed by buying power
marketing
a social and managerial process by which individuals and grou…
need
states of deprivation (physical,social, and individual)
51 terms
Introduction to Marketing
Old View of Marketing
Awareness
Consideration
purchase
Making a sale, Telling and Selling, it is a funnel with aware…
need of something, what product is needed, what brand you wan…
like the product, trust the product
repeated the product of purchase, word of mouth, relationship
Old View of Marketing
Making a sale, Telling and Selling, it is a funnel with aware…
Awareness
need of something, what product is needed, what brand you wan…
15 terms
Introduction to Marketing
Product-based marketing
Customer-based marketing
Customer value must be focused on in an
Product Orientation
otherwise known as a sellers market, is based on a high volum…
otherwise known as a buyers market, depends on premium prices…
experiential way
persuades customer to want what the firm has
Product-based marketing
otherwise known as a sellers market, is based on a high volum…
Customer-based marketing
otherwise known as a buyers market, depends on premium prices…
20 terms
Introduction to Business & Marketing Vocab 4
Finance Capital
Financing
Finished-Products Inventory
Fiscal Control
Money needed to operate a business
A marketing function which determines the need for and availa…
The producer's inventory of completed products that are ready…
Governmental use of price controls, licensing, wage control,…
Finance Capital
Money needed to operate a business
Financing
A marketing function which determines the need for and availa…
40 terms
Pharmaceutical Marketing: Introduction to Marketing
Definition of marketing
So marketing is all about
So in general marketing is the deliver…
Name 3 elements associated with the ac…
EXCHANGES between people in which SOMETHING OF VALUE is TRADE…
Exchanges <<< KNOW THIS
Delivery of customer satisfaction at a profit
1) Needs... 2) Wants... 3) Demands
Definition of marketing
EXCHANGES between people in which SOMETHING OF VALUE is TRADE…
So marketing is all about
Exchanges <<< KNOW THIS
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