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27 Cards in this Set

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Define *Marketing Concept*:
A three-part business philosophy: 1. A customer orientation, 2. a service orientation, and 3. a profit orientation.
Define *Customer Relationship Management*:
Learning as much as as possible about customers and doing everything you can to satisfy them or even delight with goods and services over time.
Define *Marketing*:
The process of determining customer wants and needs and then providing customers with goods and services that meet or exceed their expectations.
Define *Marketing Management*:
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services (products) to create mutually beneficial exchanges.
What is a *Marketing Mix*:
The ingredients that go into a marketing program: product, price, place, and promotion.
What is a *Product*?
Any physical good, service, or idea that satisfies a want or need.
What is *Test Marketing*?
The process of testing products among potential users.
What is a *Brand Name*?
A word, letter, or group of words or letters that differentiates one seller-s goods and services from those of competitor.
What is a *Promotion*?
All the techniques sellers use to motivate people to buy products or services.
Define *Marketing Research*:
The analysis of markets, to determine opportunities, and challenges, and to find the information needed to make good decisions.
What is a *Focus Group*?
A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues.
Define *Environmental Scanning*:
The process of identifying the factors that can effect marketing success.
Define *Comsumer Market*:
All the individuals or households that want goods and services for personal consumption or use.
Define *Business-to-Business* market:
The B2B market is all the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others.
Define *Market Segmentation*:
The process of dividing the total market into several groups whose members have similar characteristics.
Define *Target Marketing*:
Marketing directed toward those groups - market segments - an organization decides it can serve profitably.
What is *Geographic Segmentation*?
Dividing the market by geographic area.
Define *Demographic Segmentation*:
Dividing the market by age, income, and education level.
Define *Psychographic Segmentation*:
Dividing the market using the group's values, attitudes, and interests.
Define *Benefit Segmentation*:
Dividing the market by determining which benefits of the product to talk about.
Define *Volume Segmentation*:
Dividing the market by usage - volume of use.
Define *Niche Marketing*:
The process of finding small but profitable market segmentations and designing custom-made products.
Define *One-to-One Marketing*:
Developing a unique mix of goods, and services for each individual customer.
Define *Mass Marketing*:
Developing products and promotions to please large groups of people.
Define *Relatinship Marketing*:
Marketing whose goa is to keep individual customers over time by offering them products that exactly meet their requirements.
Define *Stakeholder Marketing*:
Establishing and maintaining mutually benefitical exchange relationship over time with all the stakeholders of the organization.
Define *Green Product*:
A product whose production, use, and disposal don't damage the environment.