Ch 1 Intro To Marketing

Front 1

bottom line

Back 1

reference to overall company profitability

Front 2

buyers market

Back 2

a market in which there are more goods & services than people willing to buy them.

Front 3

cause marketing

Back 3

identification & Marketing of a social issue, cause, or idea to selected target markets

Front 4

consumer orientation

Back 4

Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them.

Front 5

Ethics

Back 5

Moral standards of behavior expected by a society.

Front 6

Event marketing

Back 6

Marketing of sporting, cultural, and charitable activities to selected target markets.

Front 7

exchange functions

Back 7

Buying & Selling

Front 8

exchange process

Back 8

Activity in which two or more parties give something of value to each other to satisfy perceived needs.

Front 9

interactive marketing

Back 9

Trading situation where the buyers specify the nature and application of products they wish to buy and sellers try to match these requests almost instantly or in a very short time. A large part of trading over the internet is through interactive marketing.

Front 10

Marketing concept

Back 10

Companywide consumer orientation with the objective of achieving long run success

Front 11

marketing

Back 11

An organizational function and set of processes for creating communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

Front 12

Marketing myopia

Back 12

Management's failure to recognize the scope of its business

Front 13

Mobile marketing

Back 13

Marketing messages transmitted via wireless technology

Front 14

Organization marketing

Back 14

Marketing by mutual benefit organization service organizations in government organizations intended persuade others to accept their goals, receive their services, or contribute to them in some way

Front 15

Person marketing

Back 15

Marketing efforts designed to cultivate the attention, interest, and preferences of a target market toward a person ( perhaps a political candidate or celebrity)

Front 16

Place marketing

Back 16

Marketing efforts to attract people and organizations to a particular geographic area

Front 17

Product orientation

Back 17

Business philosophy stressing efficiency in producing a quality product, with the attitude toward marketing that a good product will sell itself

Front 18

Relationship marketing

Back 18

Development and maintenance of long term, cost effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit

Front 19

Sales orientation

Back 19

Belief that consumers will resist purchasing a non essential goods and services, with the attitude toward marketing that only creative advertising and personal selling can overcome consumers' resistance and persuade them to buy

Front 20

sellers market

Back 20

A market in which there are more buyers for fewer goods and services

Front 21

Social marketing

Back 21

The use of online social media as a communications channel for marketing messages

Front 22

Social responsibility

Back 22

Marketing philosophies, policies, procedures, and actions that have the enhancement of society's welfare as a primary objective

Front 23

Strategic alliances

Back 23

partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market

Front 24

Sustainable products

Back 24

Products that can be produced, used, and disposed of with minimal impact on the environment

Front 25

Transaction based marketing

Back 25

Buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between the parties

Front 26

Utility

Back 26

want satisfying power of a good or service

Front 27

Wholesalers

Back 27

Intermediaries that operate between producers and resellers