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13 Cards in this Set
- Front
- Back
Market Offering
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Some combination of products, services, information, or experiences offered to a market to satisfy a want or need.
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Marketing Myopia
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The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.
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Needs
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States of felt deprivation (food, clothing, warmth)
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Wants
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The form human needs takes as shaped by culture and individual personality. (need food, want a big mac)
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Demands
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Human wants that are backed by buying power.
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Marketing
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The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return
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Exchange
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The act of obtaining a desired object from someone by offering something in return.
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Market
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The set of all actual anad potential buyers of a product or service.
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Marketing Management
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The art and science of choosing target markets and building profitable relationships with them
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Production Concept
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The idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.
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Product Concept
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The idea that consumers will favor products that offer the most quality, performance, and features and that the organization should devote its energy to making continuous product improvements.
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Selling Concept
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The idea that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.
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Marketing Concept
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The marketing management philosophy holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
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