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Study sets matching "mark 201"

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Study sets matching "mark 201"

38 terms
MARK201
Marketing
Social Enterprise
Mission Statement
TOWS
is the activity, set of institutions, and processes for creat…
organisations that seek to apply market-based solutions to so…
articulates an organization's purpose, or reason for existenc…
A convenient way to summarize key findings into a matrix of s…
Marketing
is the activity, set of institutions, and processes for creat…
Social Enterprise
organisations that seek to apply market-based solutions to so…
37 terms
Mark201
Market skimming
Market penetration
Monopoly
Oligopoly
setting an initial higher price
setting an initial lower price
When one firm serves the entire market
When a few large firms dominate the market
Market skimming
setting an initial higher price
Market penetration
setting an initial lower price
46 terms
ARTHC 201 Mark Johnson
Porta Agusta, Perugia... 300 BC
Apollo from Portonaccio Temple... 510 BC…
Sarcophagus Reclining Couple... 520 BC... Ce…
Banqueters and Musicians... Tomb of the T…
Etruscan
Etruscan
Etruscan
Etruscan
Porta Agusta, Perugia... 300 BC
Etruscan
Apollo from Portonaccio Temple... 510 BC…
Etruscan
10 terms
MARK 201
Middleman
Agent or broker
Wholesaler
Retailer
intermediary between manufacturer and end-user markets
legal intermediary who acts on behalf of manufacturer
An intermediary who sells to other intermediaries
An intermediary who sells to consumers
Middleman
intermediary between manufacturer and end-user markets
Agent or broker
legal intermediary who acts on behalf of manufacturer
87 terms
Mark 201
Why do most products fail?
Product
Essential Benefit
Core product
- Companies cannot support the growth, poor allocation of res…
- Anything that delivers value to satisfy a need or want and…
why do they purchase it?... The essential benefit is the fundame…
- Translate the essential benefit into a tangible elements kn…
Why do most products fail?
- Companies cannot support the growth, poor allocation of res…
Product
- Anything that delivers value to satisfy a need or want and…
36 terms
Mark 201 Distribution
Channel Design Decisions
(1) Exclusive Distribution
(2) Intensive Distribution
(3) Selective Distribution
(1) Exclusive Distribution ... (2) Intensive Distribution ... (3) S…
In a certain region only, or a single distributor
Has a large a number of distribution points as possible
A limited number of distribution points
Channel Design Decisions
(1) Exclusive Distribution ... (2) Intensive Distribution ... (3) S…
(1) Exclusive Distribution
In a certain region only, or a single distributor
18 terms
MARK 201 - Chapter 1
marketing
exchange
market
target market
the activity for creating, communication, delivering, and exc…
the trade of things of value between buyer and seller so that…
people with both the desire and the ability to buy a specific…
one or more specific groups of potential consumers toward whi…
marketing
the activity for creating, communication, delivering, and exc…
exchange
the trade of things of value between buyer and seller so that…
9 terms
MARK 201 - Chapter 2
Strategic Planning
4 Steps in Strategic Planning
Value delivery network
Value chain
Objective based process of developing and maintaining a strat…
1. Mission Statement ... 2. Setting company objectives and goals…
Made up of the company, suppliers, distributors, and customer…
Series of departments that carry out value-creating activities.
Strategic Planning
Objective based process of developing and maintaining a strat…
4 Steps in Strategic Planning
1. Mission Statement ... 2. Setting company objectives and goals…
14 terms
MARK 201 - Chapter 9
Definition of a Brand
Trademarks
Brand Equity
Brand Personality
The image which stands behind the name, symbol,... icon, design,…
- Names, symbols, characters, shapes... - Has monetary value... - I…
A financial value attributed to the brand based largely on... in…
Human attributes and the emotions they inspire toward customers
Definition of a Brand
The image which stands behind the name, symbol,... icon, design,…
Trademarks
- Names, symbols, characters, shapes... - Has monetary value... - I…
89 terms
Mark 201 Midterm
Marketing
Needs
Wants
Demands
Marketing is the activity, set of institutions, and processes…
States of felt deprivation
The form human needs take as shaped by culture and individual…
Human wants that are backed by buying power.
Marketing
Marketing is the activity, set of institutions, and processes…
Needs
States of felt deprivation
53 terms
MARK 201 MIDTERM
Core Customer Value
Actual Product
Augmented Product
Consumer Products
Problem solving benefit
The service or products features
Additional consumer services and benefits
Products bought by consumer for consumption
Core Customer Value
Problem solving benefit
Actual Product
The service or products features
26 terms
ARTHC 201 Mark Johnson
Porta Agusta, Perugia... 300 BC
Apollo from Portonaccio Temple... 510 BC…
Sarcophagus Reclining Couple... 520 BC... Ce…
Banqueters and Musicians... Tomb of the T…
Etruscan
Etruscan
Etruscan
Etruscan
Porta Agusta, Perugia... 300 BC
Etruscan
Apollo from Portonaccio Temple... 510 BC…
Etruscan
ARTHC 201 Mark Johnson
Porta Agusta, Perugia... 300 BC
Apollo from Portonaccio Temple... 510 BC…
Sarcophagus Reclining Couple... 520 BC... Ce…
Banqueters and Musicians... Tomb of the T…
Etruscan
Etruscan
Etruscan
Etruscan
Porta Agusta, Perugia... 300 BC
Etruscan
Apollo from Portonaccio Temple... 510 BC…
Etruscan
MARK 201 (The rest)
Marketing
Evolution of marketing orientation
Marketing plan
Strategic Marketing Process
The activity for creating, communicating, delivering, and exc…
1. Production era 2. Sales era 3. Marketing concept era 4. Cu…
A road map for the marketing actions of an organization for a…
When an organization allocates its marketing mix resources to…
Marketing
The activity for creating, communicating, delivering, and exc…
Evolution of marketing orientation
1. Production era 2. Sales era 3. Marketing concept era 4. Cu…
MARK 201 Test #3
Countertrade
Balance of trade
Gross domestic product
Economic Espionage Act (1996)
The practice of using barter rather than money for making glo…
The difference between the monetary value of a nation's expor…
The monetary value of all products and services produced in a…
The theft of trade secrets by foreign entities a federal crim…
Countertrade
The practice of using barter rather than money for making glo…
Balance of trade
The difference between the monetary value of a nation's expor…
33 terms
MARK201 2016 Communication
Promotion
Promotion Mix
Decision sequence for developing the p…
Identifying Your Target Market (Step 1)
Raising product awareness of a product or brand generating sa…
A blend of promotional variables chosen by a firm to communic…
(1) Define the audience(s) to be targeted ... (2) Set the promot…
Who your target market is?... How does it benefit them? ... How is…
Promotion
Raising product awareness of a product or brand generating sa…
Promotion Mix
A blend of promotional variables chosen by a firm to communic…
20 terms
MARK 201 Marketing Profitability
Unit Volume Sold
Gross Sales Revenue
Net Sales Revenue
Cost of Goods Sold (COGS)
= Market Demand (units) × Market Share
= Unit Volume Sold × Selling Price
= Gross Sales Revenue - Total Sales Returns and Allowances
= Unit Volume Sold × Cost per unit
Unit Volume Sold
= Market Demand (units) × Market Share
Gross Sales Revenue
= Unit Volume Sold × Selling Price
25 terms
ARTHC 201 Mark Johnson
Porta Agusta, Perugia, 300 BC... - Walls…
Apollo from Portonaccio Temple, 510 BC…
Sarcophagus Reclining Couple, 520 BC... -…
Banqueters and Musicians, Tomb of the…
Etruscan
Etruscan
Porta Agusta, Perugia, 300 BC... - Walls…
Apollo from Portonaccio Temple, 510 BC…
23 terms
Mark 201 CH 1
marketing management
marketing is the activity, set of inst…
Marketing stakeholders
societal marketing
leading and managing the facets of marketing to improve indiv…
-Focuses on strategic aspects of marketing, which positions m…
include any person or entity inside or outside a firm with wh…
members of society at large can be viewed as a stakeholder fo…
marketing management
leading and managing the facets of marketing to improve indiv…
marketing is the activity, set of inst…
-Focuses on strategic aspects of marketing, which positions m…
29 terms
Chapter 5 MARK 201
Consumer Behavior
Purchase Decision Process
Five Stages of Purchase Decision Process
Internal Search
the actions a person takes in purchasing and using products a…
the stages a buyer passes through in making choices about whi…
1. Problem Recognition - Perceiving a need... 2. Information Sea…
scanning your memory for previous experiences with products o…
Consumer Behavior
the actions a person takes in purchasing and using products a…
Purchase Decision Process
the stages a buyer passes through in making choices about whi…
13 terms
MARK 201 Chapter 4
laws
caveat emptor
consumer bill of rights
code of ethics
society's values and standards that are enforceable in the co…
let the buyer beware
codified the ethics of exchange between buyers and sellers. t…
formal statement of ethical principles and rules of conduct
laws
society's values and standards that are enforceable in the co…
caveat emptor
let the buyer beware
25 terms
MARK 201 - Chapter 2
profit
strategy
corporate level
strategic business unit (SBU)
money left after a business firm's total expenses are subtrac…
an organization's long-term course of action designed to deli…
where top management directs overall strategy for the entire…
subsidiary division, or unit of an organization that markets…
profit
money left after a business firm's total expenses are subtrac…
strategy
an organization's long-term course of action designed to deli…
19 terms
Bone Markings Bio 201
Crest
Trochanter
Epicondyle
Spine
Narrow ridge of bone; usually prominent
Very large, blunt, irregularly shaped process (only found on…
Raised area on or above a condyle
Sharp, slender, often pointed projection
Crest
Narrow ridge of bone; usually prominent
Trochanter
Very large, blunt, irregularly shaped process (only found on…
17 terms
MARK 201 Chapter 6
business marketing
organizational buyers
derived demand
organizational buying criteria
marketing of goods and services to companies, governments, or…
those manufacturers, wholesalers, retailers, and government a…
the demand for industrial products and services is driven by,…
objective attributes of the supplier's products and services…
business marketing
marketing of goods and services to companies, governments, or…
organizational buyers
those manufacturers, wholesalers, retailers, and government a…
22 terms
MARK 201 - Chapter 3
environmental scanning
social forces
demographics
baby boomers
process of continually acquiring information on events occurr…
demographic characteristics of the population and its values
describing a population according to selected characteristics…
generation of children born between 1946 and 1964
environmental scanning
process of continually acquiring information on events occurr…
social forces
demographic characteristics of the population and its values
17 terms
MARK 201 Chapter 9
STP Approach to Marketing
Segmentation
Targeting
Positioning
Segmentation, targeting, positioning
divide market into homogenous groups
?
where products sit in the minds of consumers relative to thei…
STP Approach to Marketing
Segmentation, targeting, positioning
Segmentation
divide market into homogenous groups
219 terms
Mark 201- Simplified version of the
Marketing
Marketing Process
Understand the Customer Market
Value
A set of processes that create/deliver value to customers.
Give to the Customer... - Understand the customer & Market... - Des…
Need... Wants... Demands
Difference between benefits and costs.... Value= Benefits - Costs
Marketing
A set of processes that create/deliver value to customers.
Marketing Process
Give to the Customer... - Understand the customer & Market... - Des…
18 terms
MARK 201 - Chapter 1
marketing
exchange
market
target market
the activity for creating, communication, delivering, and exc…
the trade of things of value between buyer and seller so that…
people with both the desire and the ability to buy a specific…
one or more specific groups of potential consumers toward whi…
marketing
the activity for creating, communication, delivering, and exc…
exchange
the trade of things of value between buyer and seller so that…
35 terms
Mark 201 Assessment 1
Marketing
environmental forces that influence ma…
Social environmental factor
economic environmental factor
activity for creating, communicating, delivering, and exchang…
social, economic, technological, competitive, and regulatory
demographic shifts, cultural changes
macroeconomic conditions, consumer income
Marketing
activity for creating, communicating, delivering, and exchang…
environmental forces that influence ma…
social, economic, technological, competitive, and regulatory
MARK 201 - Chapter 1
marketing
exchange
market
target market
the activity for creating, communication, delivering, and exc…
the trade of things of value between buyer and seller so that…
people with both the desire and the ability to buy a specific…
one or more specific groups of potential consumers toward whi…
marketing
the activity for creating, communication, delivering, and exc…
exchange
the trade of things of value between buyer and seller so that…
12 terms
MARK 201 Chapter 8
Marketing Research
Why do marketing research?
5 Steps of the Marketing Research Proc…
Step 1: Define the Problem
the process of defining a marketing problem and opportunity,…
reduce the risk of marketing decisions... understand consumers... d…
1) define the problem... 2) develop the research plan... 3) collect…
set S.M.A.R.T. research objectives... S- specific... M- measurable…
Marketing Research
the process of defining a marketing problem and opportunity,…
Why do marketing research?
reduce the risk of marketing decisions... understand consumers... d…
44 terms
MARK 201 Test 1
Ethics
Laws
What factors influence ethical & uneth…
Two types of personal moral philosophies
The moral principles and values that govern the actions and d…
Society's values and standards that are enforceable in court.
Societal and cultural norms... Business culture and industry pra…
Moral Idealism... Utilitarianism
Ethics
The moral principles and values that govern the actions and d…
Laws
Society's values and standards that are enforceable in court.
71 terms
MARK 201 EXAM 2
marketing research
S.M.A.R.T. research objectives
steps in marketing research process
exploratory research
process of defining a marketing problem and opportunity, syst…
specific, measurable, attainable, relevant, time-based
1. define problem 2. develop research plan 3. collect relevan…
ideas about a vague problem, no preconceived notion
marketing research
process of defining a marketing problem and opportunity, syst…
S.M.A.R.T. research objectives
specific, measurable, attainable, relevant, time-based
25 terms
MARK 201 - exam 1
Business unit-level strategy (SBUs)
Stars
Question Marks
Cash Cows
a division of a firm that markets a set of related offerings…
Business portfolio analysis; high market growth, high market…
Business portfolio analysis; high market growth, low market s…
Business portfolio analysis; low market growth, high market s…
Business unit-level strategy (SBUs)
a division of a firm that markets a set of related offerings…
Stars
Business portfolio analysis; high market growth, high market…
30 terms
MARK 201 QUIZ
MARKETING PROCESS
MARKETING PROCESS (GOALS)
MODEL STEPS
MARKETPLACE 5 CORE CONCEPTS
-managing profitable customer relationships... -creating value f…
-attracting new customers... -keeping & growing current customer…
1) Understand the Marketplace & Customer Needs... 2) Design a cu…
1) Needs, wants, demands... 2) Market Offerings... 3) Value & satis…
MARKETING PROCESS
-managing profitable customer relationships... -creating value f…
MARKETING PROCESS (GOALS)
-attracting new customers... -keeping & growing current customer…
14 terms
MARK 201 New Trends
Direct communication between producers…
__________ of the voice of the consume…
Need for an _________ story as the num…
Extremely _____ attention spans due to…
directly, middleman
Amplification, vital
authentic, else, found
short, clutter, complex
Direct communication between producers…
directly, middleman
__________ of the voice of the consume…
Amplification, vital
21 terms
MARK 201 Chapter 10
New product development
Idea screening
Product concept
Concept testing
The development of original products, product improvements, p…
Screening new-product ideas to spot good ideas and drop poor…
A detailed version of the new-product idea stated in meaningf…
Testing new-product concepts with a group of target consumers…
New product development
The development of original products, product improvements, p…
Idea screening
Screening new-product ideas to spot good ideas and drop poor…
34 terms
Mark 201 test 2
Business marketing
organizational buyer
industrial firm
What 2 types of organizations does the…
is the marketing of goods and services to companies, governme…
those manufacturers, wholesalers, retailers, and government a…
firms that reprocess a product or service they buy before sel…
wholesalers and retailers
Business marketing
is the marketing of goods and services to companies, governme…
organizational buyer
those manufacturers, wholesalers, retailers, and government a…
52 terms
MARK 201 : Test 3
What is a channel?
What are different forms of intermedia…
What is an agent/broker?
What is a wholesaler?
Individuals and firms that are involved in the process of mak…
- Middleman... - Agent/broker... - Wholesaler... - Retailer... - Distribu…
Someone who has legal authority to act on behalf of the manuf…
Someone who sells to other intermediaries, usually to retaile…
What is a channel?
Individuals and firms that are involved in the process of mak…
What are different forms of intermedia…
- Middleman... - Agent/broker... - Wholesaler... - Retailer... - Distribu…
82 terms
MARK 201 : Test 2
What are the five-steps to market rese…
What is ethnographic research?
What are individual interviews?
What are pros and cons of individual i…
1 - Define the problem... 2 - Develop the research plan... 3 - Coll…
A specialized observational approach in which trained observe…
Involves a single researcher asking questions of one responde…
Pros: The ability to probe for additional ideas using follow-…
What are the five-steps to market rese…
1 - Define the problem... 2 - Develop the research plan... 3 - Coll…
What is ethnographic research?
A specialized observational approach in which trained observe…
121 terms
MARK201 Exam1
Production Era
Sales Era
Marketing Concept Era
Customer Relationship Era
customers didn't get much say... companies had the control
too many products... advertisements had to push products... catalog…
we want to provide what consumers want and make money... creatin…
specific... get to know individual customers
Production Era
customers didn't get much say... companies had the control
Sales Era
too many products... advertisements had to push products... catalog…
47 terms
MARK 201 Test 2
Investing in national advertising is a…
Investing in sales force training is a…
How could you best use marketing to in…
Apple now operates over 400 retail sto…
b) pull strategy
a. push strategy
Social media
c. Forward integration
Investing in national advertising is a…
b) pull strategy
Investing in sales force training is a…
a. push strategy
49 terms
MARK 201 TEST 3
Marketing Channel
Direct Channel
Indirect Channel
Vertical Marketing Systems
a marketing channel consists of individuals and firms involve…
a marketing channel where a producer and ultimate consumers d…
marketing channels where intermediaries:... • Are inserted betwe…
professionally managed and centrally coordinated marketing ch…
Marketing Channel
a marketing channel consists of individuals and firms involve…
Direct Channel
a marketing channel where a producer and ultimate consumers d…
38 terms
MARK 201: TEST 1
Marketing
Who should benefit from marketing?
Exchange
Market
The activity, set of institutions and processes for creating,…
The customers, the organization, its stakeholders and society…
The trade of things in value between buyer and seller so that…
People with both the desire and the ability to buy a specific…
Marketing
The activity, set of institutions and processes for creating,…
Who should benefit from marketing?
The customers, the organization, its stakeholders and society…
69 terms
Mark 201 Final
Marketing process
Evolution of marketing concepts
customer relationship management
strategic planning process
1) understand customer and market... 2) designing customer drive…
1) production concept = consumer prefer available and afforda…
1) retaining customers ... 2) acquiring customers (more expensiv…
1) defining companys mission... 2) setting company objectives an…
Marketing process
1) understand customer and market... 2) designing customer drive…
Evolution of marketing concepts
1) production concept = consumer prefer available and afforda…
78 terms
MARK 201 : Test 1
In marketing, each __________ consists…
In marketing, the set of values, ideas…
What accurately distinguishes between…
How does the AMA define marketing?
Marketing Segment
Culture
Ethics deal with personal and moral principles whereas laws a…
"The activity, set of institutions, and processes for creatin…
In marketing, each __________ consists…
Marketing Segment
In marketing, the set of values, ideas…
Culture
55 terms
MARK 201 Midterm
When Burger King targets children, tee…
Which of the following would be classi…
All of the following are methods for d…
The Jay group hires better employees t…
Age and life cycle
e) car insurance
b) increasing the quantity of service by giving up some quality
e) People
When Burger King targets children, tee…
Age and life cycle
Which of the following would be classi…
e) car insurance
37 terms
MARK 201 - Exam 3
What is an "Implied warranty"?
What is a "limited coverage" warranty?
Why are packaging labels important?
What is co branding
It assigns responsibility for product deficiencies to the man…
States the areas of coverage and more importantly non-coverage
They are often the first contact a consumer has with a product
Pairing f two company names for one product
What is an "Implied warranty"?
It assigns responsibility for product deficiencies to the man…
What is a "limited coverage" warranty?
States the areas of coverage and more importantly non-coverage
40 terms
MARK 201 Pricing
EDLP definition
Pros and Cons of Everyday Low Pricing…
Cost-oriented (Cost-based pricing)
Demand-oriented approach (Value-based…
A retailer strives to sell its goods and services at consiste…
Pros:... •Reduced advertising expense... •More predictable sales le…
Involves setting prices based on the costs to produce, distri…
*Performance-based pricing... *Perceived-value pricing... --It dete…
EDLP definition
A retailer strives to sell its goods and services at consiste…
Pros and Cons of Everyday Low Pricing…
Pros:... •Reduced advertising expense... •More predictable sales le…
75 terms
MARK 201 Exam One
Marketing seeks to:
Requirements for marketing to occur:
Need
Want
Discover needs & wants of customers.... Then, satisfy those nee…
There must be:... -Two or more parties with unsatisfied needs.... -…
Occurs when an individual feels deprived of basic necessities.
A need that is shaped by a person's knowledge, culture, and p…
Marketing seeks to:
Discover needs & wants of customers.... Then, satisfy those nee…
Requirements for marketing to occur:
There must be:... -Two or more parties with unsatisfied needs.... -…
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