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Study sets matching "principles of marketing"

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Study sets matching "principles of marketing"

134 terms
Principles of Marketing
Marketing
Production
What creates customer value?
What is marketing?
Makes sure "right" goods & services are produced
1) Making Goods... 2) Performing Services
Marketing and Production
"Performance of activities that accomplish the organization's…
Marketing
Makes sure "right" goods & services are produced
Production
1) Making Goods... 2) Performing Services
45 terms
Principles of Marketing
Marketing
Exchange
Exchange can only take place if these…
Can marketing occur if exchange does n…
The activity, set of institutions, and processes for creating…
People giving up something to receive something they would ra…
1. There must be at least two parties... 2. Each party has somet…
yes
Marketing
The activity, set of institutions, and processes for creating…
Exchange
People giving up something to receive something they would ra…
91 terms
Principles of Marketing
Marketing chapter 1... "aim of marketing…
market
core marketing activities... " serving a…
Marketing Process
process by which companies create value for customers and bui…
set of actual and potential buyers of a product or service |…
customer research ... product development ... communication ... distri…
1. Understand marketplace... 2. design customer value driven mar…
Marketing chapter 1... "aim of marketing…
process by which companies create value for customers and bui…
market
set of actual and potential buyers of a product or service |…
33 terms
Principles of Marketing: The Marketing Environment
Marketing
Market
Products
Marketing Concept
The process of planning and executing the development, pricin…
People or organizations who want or need a product and have t…
Goods, services, ideas, places, or persons.
Customer-orientated business philosophy that stresses custome…
Marketing
The process of planning and executing the development, pricin…
Market
People or organizations who want or need a product and have t…
195 terms
Principles of Marketing
Dan Muller, President of Distribution…
Based on the lecture, what do you want…
In class, we heard about the new marke…
In class, we have heard that the price…
Yes, because it allows them to "think out of the box" about h…
Once discovered, you should work to convert weaknesses to str…
They will give away a trip to space, based on an online essay.
$3.8 million
Dan Muller, President of Distribution…
Yes, because it allows them to "think out of the box" about h…
Based on the lecture, what do you want…
Once discovered, you should work to convert weaknesses to str…
71 terms
Principles of Marketing
value
Marketing concept
need
want
benefits a customer receives rom buying goods and services
fulfilling what the customer needs which must have value
the difference between a consumers actual state and their des…
desire for a product that we'll use to satisfy the need
value
benefits a customer receives rom buying goods and services
Marketing concept
fulfilling what the customer needs which must have value
178 terms
Principles of Marketing
Marketing Mix
Consumer goods
Industrial goods
E-commerce
product, place, price, promotion
family/personal use
buy for further processing
buying/selling online
Marketing Mix
product, place, price, promotion
Consumer goods
family/personal use
106 terms
Principles of Marketing
Market Penetration
Market Development
Product Development
Diversification
Present products in present markets ... -trying to increase sale…
Present prodcuts in new mkts... EX:E-Z-Go producer of golf carts…
Now products in present markets... EX: Campbell Soup Co new line…
Moving into totally new line of business... *Usually risky... EX: M…
Market Penetration
Present products in present markets ... -trying to increase sale…
Market Development
Present prodcuts in new mkts... EX:E-Z-Go producer of golf carts…
59 terms
Principles of marketing
Marketing environment
Micro environment
Macro environment
Monitor/study the environment
Consists of various forces internal and external that directl…
Internal environment... Top management... Finance ... R&d ... Purchasing…
External environment ... Political ... Legal ... Regulatory... Societal/g…
Environmental scanning
Marketing environment
Consists of various forces internal and external that directl…
Micro environment
Internal environment... Top management... Finance ... R&d ... Purchasing…
25 terms
Principles of Marketing Chapter 4
Bricks-and-Clicks
Bricks-and-Mortar
Channel Partners
Demand Chain
A location strategy that combines a physical retail location…
A location strategy based on physical retail locations.
Businesses that help other businesses deliver value from the…
The supply chain viewed from the perspective of consumers, wh…
Bricks-and-Clicks
A location strategy that combines a physical retail location…
Bricks-and-Mortar
A location strategy based on physical retail locations.
20 terms
Marketing principles
Goods
Services
ideas
product planning
articles for sale or use, often those produced for later cons…
1.the action of helping or doing work for someone:
thought or suggestion as to a possible course of action
is the ongoing process of identifying and articulating market…
Goods
articles for sale or use, often those produced for later cons…
Services
1.the action of helping or doing work for someone:
1,056 terms
Principles of Marketing: Chapter 5
Marketing Information Systems
Market Research
What is the value of market research?
Steps in Market Research
- Used for ORGANIZING data... - Framework for managing and struc…
- Used for GATHERING data... - Form of marketing intelligence th…
- Improves the marketer's ability to make decisions. ... - Organ…
1) Locate and define the problems or issues... 2) Design the res…
Marketing Information Systems
- Used for ORGANIZING data... - Framework for managing and struc…
Market Research
- Used for GATHERING data... - Form of marketing intelligence th…
65 terms
principles of marketing
Marketing
Customer
3 components & perspectives
Target Market
The focus on customer's ... The process of creating, distributin…
The purchasers of organizations products; the focal point of…
1.) Marketing ... 2.) Operations ... 3.) Finance
A specific group of customers on whom an organization focuses…
Marketing
The focus on customer's ... The process of creating, distributin…
Customer
The purchasers of organizations products; the focal point of…
10 terms
marketing principles
Marketing Research
Marketing Information System
Observation Method
Primary Data
the process or set of processes that links the consumers, cus…
system for gathering and organizing marketing information use…
a research method that involves watching people and recording…
information collected for the specific purpose at hand
Marketing Research
the process or set of processes that links the consumers, cus…
Marketing Information System
system for gathering and organizing marketing information use…
Marketing Principles
Exports
WTO
Quota
Balance of Trade
send (goods or services) to another country for sale
World Trade Organization (WTO) is the only global internation…
A limit placed on the quantities of a product that can be imp…
the difference between a country's total exports and total im…
Exports
send (goods or services) to another country for sale
WTO
World Trade Organization (WTO) is the only global internation…
19 terms
Principles of Marketing Chapter 8
Bullwhip Effect
Competitive Intelligence
Consumerism
Cross Channel
The impact on supply chains that occurs when changing demand…
Market research goal of systematically gathering data and inf…
An organized movement of individuals, groups, and governments…
Marketing approach of engaging consumers across all available…
Bullwhip Effect
The impact on supply chains that occurs when changing demand…
Competitive Intelligence
Market research goal of systematically gathering data and inf…
52 terms
Principles of Marketing
Marketing
Product Orientation
Sales Orientation
Market Orientation
The activity, set of institutions, and processes for creating…
Focus on internal capabilities instead of marketplace
Aggressive sales techniques will cause people to buy more, in…
Focus on customer's wants/needs, integrating organization act…
Marketing
The activity, set of institutions, and processes for creating…
Product Orientation
Focus on internal capabilities instead of marketplace
100 terms
Principles of Marketing
1) Which of the following is NOT a typ…
2) ________ the manufacturer or servic…
3) Another term for the supply chain t…
4) Most producers today sell their goo…
d
b
b
c
1) Which of the following is NOT a typ…
d
2) ________ the manufacturer or servic…
b
90 terms
Principles of Marketing
1) Which of the following is NOT a typ…
________ the manufacturer or service p…
3) Another term for the supply chain t…
4) Most producers today sell their goo…
D
B
b
c
1) Which of the following is NOT a typ…
D
________ the manufacturer or service p…
B
422 terms
Principles of Marketing - CLEP Book
Marketing
Market
Products
The Marketing Concept
The process of planning and executing the development, pricin…
Made up of all the people or organizations who want or need a…
Goods, services, ideas, places, or persons.
A customer-oriented business philosophy that stresses custome…
Marketing
The process of planning and executing the development, pricin…
Market
Made up of all the people or organizations who want or need a…
49 terms
Principles of Marketing Chapter 5
Bonuses
Breakeven Analysis
Buying Center
Cash Rebates
A consumer-oriented promotional strategy involving payment or…
The point where total revenue received equals the total of fi…
Within a business, a functional unit charged with evaluating…
A consumer-oriented promotional strategy involving money retu…
Bonuses
A consumer-oriented promotional strategy involving payment or…
Breakeven Analysis
The point where total revenue received equals the total of fi…
31 terms
Principles of Marketing Chapter 7
Affinity Marketing
Behavioral Segmentation
Buyer's Remorse
Churn
Programs that leverage customers' ties to institutions and co…
Market segmentation based on differences in motivations and a…
A feeling of guilt associated with doubts about the wisdom of…
Attrition or turnover of customers of a business or users of…
Affinity Marketing
Programs that leverage customers' ties to institutions and co…
Behavioral Segmentation
Market segmentation based on differences in motivations and a…
32 terms
Principles of Marketing Chapter 2
A/B split
Call To Action
Campaign Development
Data Warehouse
A technique for testing advertising effectiveness by randomly…
Words included in advertising messages that urge the reader,…
In the context of the marketing process, a step in which mark…
A large-scale database designed to serve as a centralized rep…
A/B split
A technique for testing advertising effectiveness by randomly…
Call To Action
Words included in advertising messages that urge the reader,…
46 terms
Principles of Marketing Chapter 1
Authenticity
Bottom Line
Buyer's Market
Cause-Related Marketing
The quality of being authentic, reliable, trustworthy.
Net income after tax; a purely profit-based view of the effec…
A market condition in which more goods and services are avail…
Use of tie-ins with causes motivated by the pursuit of profit…
Authenticity
The quality of being authentic, reliable, trustworthy.
Bottom Line
Net income after tax; a purely profit-based view of the effec…
61 terms
Principles of Marketing
ch 1 Marketing
Value
Marking concept
Market Orientation
The process of creating, pricing, distributing and promoting…
A customer's subjective assessment of benefits relative to co…
A managerial philosophy that an organization should try to sa…
An organization wide commitment to researching and responding…
ch 1 Marketing
The process of creating, pricing, distributing and promoting…
Value
A customer's subjective assessment of benefits relative to co…
30 terms
Principles of Marketing Chapter 3
Accessory Equipment
Assortments
Augmented Product
B2B (Business to Business)
Assemblies purchased for use in production, administrative, c…
All the lines and products a company sells.
Synonym, see expanded product.
The business model in which a company sells its offerings to…
Accessory Equipment
Assemblies purchased for use in production, administrative, c…
Assortments
All the lines and products a company sells.
19 terms
Principles of Marketing
Marketing
Creating
Exchanging
The FOUR activities, or components, of…
The activity, set of institutions, and processes for creating…
In marketing a term that involves collaboration with supplier…
The act of transacting value between buyer and seller.
Creating... Communicating... Delivering... Exchanging
Marketing
The activity, set of institutions, and processes for creating…
Creating
In marketing a term that involves collaboration with supplier…
78 terms
Principles of Marketing
The Marketing process
Five core customer and marketplace con…
Marketing myopia
Marketing
Customer needs -Strategy - Marketing Program - Engage Custome…
Needs, wants, and demands... Market offerings ... Value and satisfa…
paying more attention to the specific products than to the be…
Marketing is the process by which companies create value for…
The Marketing process
Customer needs -Strategy - Marketing Program - Engage Custome…
Five core customer and marketplace con…
Needs, wants, and demands... Market offerings ... Value and satisfa…
103 terms
Principles of Marketing
Market Penetration
Market Development
Product Development
Diversification
Present products in present markets ... -trying to increase sale…
Present prodcuts in new mkts... EX:E-Z-Go producer of golf carts…
Now products in present markets... EX: Campbell Soup Co new line…
Moving into totally new line of business... *Usually risky... EX: M…
Market Penetration
Present products in present markets ... -trying to increase sale…
Market Development
Present prodcuts in new mkts... EX:E-Z-Go producer of golf carts…
12 terms
Principles of Marketing Chapter 10
Corporate Social Responsibility (CSR)
Ethical Marketing
Fair Use
Greenwashing
Organizational commitment to the community and environment (b…
The application of ethics into the marketing process. Involve…
The use of copyrighted material for a specific, limited, and…
Deceptive marketing communications that promote a perception…
Corporate Social Responsibility (CSR)
Organizational commitment to the community and environment (b…
Ethical Marketing
The application of ethics into the marketing process. Involve…
132 terms
Principles of Marketing
marketing
needs
wants
demands
the process by which companies create value for customers and…
states of felt deprivation, including basic physical, social,…
the form human needs take as they are shaped by culture and i…
human wants backed by buying power
marketing
the process by which companies create value for customers and…
needs
states of felt deprivation, including basic physical, social,…
50 terms
Principles of Marketing
Definition of Marketing
Advertising
Sales promoriton
Public Relations
the action or business of promoting and selling products or s…
Paid form of non-personal presentation by an identified sponsor
short-term incentives to encourage trial or purchase
promote company image
Definition of Marketing
the action or business of promoting and selling products or s…
Advertising
Paid form of non-personal presentation by an identified sponsor
36 terms
Principles of Marketing, Chapter 9
Step 1: Establish Overall Strategy or…
Step 2: Segmentation Methods
GEOGRAPHIC Step 2: Segmentation Methods
DEMOGRAPHIC Step 2: Segmentation Methods
must clearly articulate the vision or objectives of the compa…
use a particular method or combination of methods to segment…
Continents by country, region, or areas within a region such…
age, gender, income
Step 1: Establish Overall Strategy or…
must clearly articulate the vision or objectives of the compa…
Step 2: Segmentation Methods
use a particular method or combination of methods to segment…
20 terms
Principles of Marketing Chapter 1
Marketing
Self-sufficient
Bartering
Specialization of labor
The creation and maintenance of satisfying exchange relations…
When you do not rely on others for things that you need to su…
Exchanging products or services with others by agreeing on th…
Concentrating on one thing or a few related activities so tha…
Marketing
The creation and maintenance of satisfying exchange relations…
Self-sufficient
When you do not rely on others for things that you need to su…
43 terms
Principles of Marketing
Demand
Market
market place
utility
customer's desire for products coupled with the resources nee…
all consumers who share common need that can be satisfied by…
any location or medium used to facilitate an exchange
the sum of benefits a consumer receives from use
Demand
customer's desire for products coupled with the resources nee…
Market
all consumers who share common need that can be satisfied by…
Principles of Marketing
Mission Statement
business objectives
Marketing objectives
Buyers psychological factors
a statement of the organization's purpose--what it wants to a…
--build profitable customer relationships... --invest in researc…
--Increase market share... --create local partnerships ... --increa…
-motivation... -perception... -learning... -beliefs and attitudes
Mission Statement
a statement of the organization's purpose--what it wants to a…
business objectives
--build profitable customer relationships... --invest in researc…
36 terms
Principles of Marketing
4 Things Needed for Marketing Occur
Marketing Mix
Perceptual Map
Influencers
1) 2 or more parties who need something(unsatisfied need) 2)D…
Product, Price, Promotion, Place
Enables managers to see how customers percieve competing bran…
Opinion Leaders, Word of Mouth, Family, Social Class, Culture…
4 Things Needed for Marketing Occur
1) 2 or more parties who need something(unsatisfied need) 2)D…
Marketing Mix
Product, Price, Promotion, Place
39 terms
Principles of Marketing CH 13
price (P)
barter
price equation
price transparency
The money or other considerations (including other products a…
The practice of exchanging products and services for other pr…
price= list price - incentives/allowances + extra fees
a consumer's near-instantaneous access to competitors' prices…
price (P)
The money or other considerations (including other products a…
barter
The practice of exchanging products and services for other pr…
768 terms
Principles of Marketing
Marketing
Marketing
Market
Products
_____ is the process of planning and executing the developing…
______ directs the flow of products within an economy from pr…
A _______ is made up of all the people or organizations who w…
______ may be goods, services, ideas, places, or persons
Marketing
_____ is the process of planning and executing the developing…
Marketing
______ directs the flow of products within an economy from pr…
63 terms
Principles of Marketing
Four criteria for successful segmentat…
steps in segmenting
bases for segmenting consumer markets
strategies for selecting target markets
1. substantial- large enough to warrant developing marketing…
1. select market/product... 2. choose a bases for segmenting... 3.s…
1. geographic... 2.demographic... 3. psycho graphic... 4. benefit... 5. u…
1. undifferentiated-... Adv: potential saving... Dis: more suscepti…
Four criteria for successful segmentat…
1. substantial- large enough to warrant developing marketing…
steps in segmenting
1. select market/product... 2. choose a bases for segmenting... 3.s…
70 terms
Principles of Marketing
Product
Aspects of a product defined
Consumer Products
Business Products
A good, service, or an idea received in an exchange.
Can be tangible (good) or intangible (a service or an idea) o…
Products purchased to satisfy personal and family needs.
Products bought to use in an organization's operations, to re…
Product
A good, service, or an idea received in an exchange.
Aspects of a product defined
Can be tangible (good) or intangible (a service or an idea) o…
54 terms
Principles of Marketing
What is a NEW product?
Types of Innovations
Continuous Innovation
Dynamically Continuous Innovation
...
1) Continuous... 2) Dynamically continuous... 3) Discontinuous
...
...
What is a NEW product?
...
Types of Innovations
1) Continuous... 2) Dynamically continuous... 3) Discontinuous
26 terms
Principles of Marketing
Marketing Research
Demand Analysis
Sales Forecasting
Advertising Effectiveness Studies
The act of collecting, interpreting, and reporting infornatio…
A type of research used to estimate how much customer demand…
A form of research that estimates how much of a product will…
A type of research that measures how well an advertising camp…
Marketing Research
The act of collecting, interpreting, and reporting infornatio…
Demand Analysis
A type of research used to estimate how much customer demand…
20 terms
Principles of Marketing - Product Management
Product Planning
Product Mix
Product Line
Product Item
Involves making decision about those features that are needed…
Includes all the different products that a company makes or s…
Is a group of closely related products manufactured and/or so…
Is a specific model, brand, or size of a product within a pro…
Product Planning
Involves making decision about those features that are needed…
Product Mix
Includes all the different products that a company makes or s…
36 terms
Marketing Principles
Marketing
5 Marketing Orientations
BCG Growth Share Matrix
Product-Market Expansion Grid
Marketing is a set of processes for creating, communicating,…
Production orientation... Product orientation... Selling orientatio…
Star - high growth rate, high market share... Cow - low growth r…
Market penetration - existing market, existing product... Market…
Marketing
Marketing is a set of processes for creating, communicating,…
5 Marketing Orientations
Production orientation... Product orientation... Selling orientatio…
230 terms
Principles of Marketing
Lauterborn's four Cs
customer-focused marketing is known as…
Micro (internal) environment
Meso environment
consumer, cost, communication, convenience
Solution, Information, Value, Access.
forces within the company that affect its ability to serve it…
the industry in which a company operates and the industry's m…
Lauterborn's four Cs
consumer, cost, communication, convenience
customer-focused marketing is known as…
Solution, Information, Value, Access.
16 terms
Principles of Marketing- Chapter 1
Marketing*
8 Universal functions of marketing... **w…
Needs*
Wants*
-prof king: is a process by which... companies satisfy needs and…
1. Buying ... 2. Selling ... 3. Marketing Inf./Research 4. Transpor…
States of deprivation... *Physical—food, clothing, warmth, safet…
Form that needs take as they are shaped by culture and indivi…
Marketing*
-prof king: is a process by which... companies satisfy needs and…
8 Universal functions of marketing... **w…
1. Buying ... 2. Selling ... 3. Marketing Inf./Research 4. Transpor…
113 terms
Principles of Marketing
Absolute advantage
Adjustment (allowance)
Advertising
Agents
When a country has special natural resources or talents that…
A partial return of the sales price for merchandise that the…
And paid form of non-personal presentation and promotion of i…
Independent business that represents another channel member a…
Absolute advantage
When a country has special natural resources or talents that…
Adjustment (allowance)
A partial return of the sales price for merchandise that the…
35 terms
Principles of Marketing Chapter 6
Advertainment
Advertising Media
AIDA Formula
Behavioral Targeting
Term coined for advertising that entertains, usually by relat…
Traditional paid vehicles by which promotional messages are c…
A structure that describes four states required to sell a pro…
Marketers' recording of consumers' online communication behav…
Advertainment
Term coined for advertising that entertains, usually by relat…
Advertising Media
Traditional paid vehicles by which promotional messages are c…
21 terms
marketing principles
goods
services
ideas
product planning
Items purchased to satisfy needs and wants
Actions or activities that one person performs for another
notions
A marketing function involving the packaging and labeling of…
goods
Items purchased to satisfy needs and wants
services
Actions or activities that one person performs for another
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