Chapter 7

Front 1

what is marketing?

Back 1

social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.

Front 2

what are humanistic marketing objectives?

Back 2

to identify and meet consumer needs and wants
to create awareness of the product or service and increase accessibility to the consumer
to persuade the consumer to purchase the product
to build consumer loyalty

Front 3

what are managerial objectives of marketing

Back 3

to encourage strategic planning
to meet the social, managerial, operational and financial business goals
to develop standards and poliices that intergrate with business objectives
to increase profits

Front 4

define market

Back 4

actual or potential buyers of a product, service or idea. can be either: consumers, physicians or third-party payers

Front 5

Segments of a market with similar characteristics and needs that are measurable and desirable for an organization to influence are known as..

Back 5

target markets

Front 6

what are the common characteristics of target markets?

Back 6

particular needs, money to buy the product, decision-making power and easy access to the product or service.

Front 7

analysis, planning, implementation and measurements are part of ...

Back 7

marketing management steps

Front 8

what are the goals of market analysis?

Back 8

to identify current trends, opportunities and threats
to access consumer needs and wants
to determine target markets
to identify and compare competition and position in the market
to develop and enhance products and services.

Front 9

2 ways to conduct market analysis include.

Back 9

organizational assessment and environmental assessment

Front 10

Define environmental assessment?

Back 10

the evaluation of all forces and changes affecting the organization's ability to conduct business effectively with the market.

Front 11

list the 5 factors affecting environmental assessment

Back 11

cultural trends
demographics
economics
political and regulatory issues
new tecnnologies

Front 12

List the components of the marketing plan

Back 12

company description
mission statement
target market
product or service
identification of competition
marketing objectives
marketing strategies
action plan
measurements

Front 13

what are the 5 Ps of marketing strategies?

Back 13

Product
Place
Price
Promotion
Position

Front 14

Identify the marketing budget
identify the promotional strategies , and
creating a time line ...
are all elements of ...

Back 14

implementation or the process of carrying out the marketing plan.