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17 Cards in this Set
- Front
- Back
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Consumer behavior
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- the study of individuals, groups, or organizations and the processes they use to select, secure, use and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society
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Social marketing
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the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole
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Customer value
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the difference between all the benefits derived from a total product and all the costs of acquiring those benefits.
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Total product
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marketing mix, it involves determining the product, features, price, communications, distribution, and services that will provide customers with superior value.
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Lifestyle centers
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small, convenient open air retailing complexes laid out to evoke the small town shopping districts of previous generations
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Market segment
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a portion of a larger market who needs differ somewhat from the larger market
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Need set
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used to reflect the face that most products in developed economies satisfy more than one need- a watch can meet more needs than just telling time
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Target market
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that segment of the larget market on which we will focus our marketing effort
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Marketing strategy
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the answer to the question- How will we provide superior customer value to our target market?
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Marketing mix
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the product, price, communications, distributions, and services provided to the target market. Combination of these elements that meets customer needs and provides customer value
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Product
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anything a consumer acquires or might acquire to meet a perceived need.
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Marketing communications
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advertising, sales force, public relations, packaging, and any other signal that the firm provides about its self and its products. With whom, exactly do we communicate? What effect do we want our communications to have on the target audience? What message will achieve the desired effect on our audience? What means and media should we use to reach the target audience? When should we communicate with the target audience?
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Price
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the amount of money one must pay to obtain the right to use the product
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Consumer cost
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everything the consumer must surrender in order to receive the benefits of owning/using the product
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Distribution
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having the product available where the target customers can buy it
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Product position
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and image of the product or brand in the consumers mind relative to competing products and brands
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Customer satisfaction
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customers being satisfied with their purchase and use of product
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