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69 Cards in this Set

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Business Portfolio
The collection of businesses and products that make up the company.
Consumer-oriented marketing
The philosophy of enlightened marketing that holds that the company should view and organize its marketing activities from the consumer's point of view.
Consumerism
An organized movement of citizens and govermnet agencies to improve the rights and power of buyers in relation to sellers
Customer equity
The toal combined customer lifetime values of all of the company's customers.
Customer perceived value
The diference bweteen total customer value and total customer cost.
Customer relationship management (CRM)
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and ssatisfaction.
Customer satisfaction
The extent to which a product's perceived performance matches a buyer's expectations.
Customer value marketing
A principle of enlightened marketing that hods that a company should put most of its resources into customer value-building marketing investments.
Deficient products
Products that have neither immediate appeal nor long-run benefits.
Demands
Human wants that are backed by buying power.
Demarketing
Marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but only to reduce or shift it.
Desirable products
Products that give both high immediate satisfactions and high long-run benefits.
Diversification
A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets.
Downsizing
Reducing the bueinsess portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy.
Enlightened marketing
A marketing philosophy holding that a company's marketing should support the best long-run performance of the marketing.
Business Portfolio
The collection of businesses and products that make up the company.
Consumer-oriented marketing
The philosophy of enlightened marketing that holds that the company should view and organize its marketing activities from the consumer's point of view.
Consumerism
An organized movement of citizens and govermnet agencies to improve the rights and power of buyers in relation to sellers
Customer equity
The toal combined customer lifetime values of all of the company's customers.
Customer perceived value
The diference bweteen total customer value and total customer cost.
Customer relationship management (CRM)
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and ssatisfaction.
Customer satisfaction
The extent to which a product's perceived performance matches a buyer's expectations.
Customer value marketing
A principle of enlightened marketing that hods that a company should put most of its resources into customer value-building marketing investments.
Deficient products
Products that have neither immediate appeal nor long-run benefits.
Demands
Human wants that are backed by buying power.
Demarketing
Marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but only to reduce or shift it.
Desirable products
Products that give both high immediate satisfactions and high long-run benefits.
Diversification
A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets.
Downsizing
Reducing the bueinsess portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy.
Enlightened marketing
A marketing philosophy holding that a company's marketing should support the best long-run performance of the marketing.
Environmental sustainability
A management approach that involves developming strategies that both sustain the environment and produce profits for the company.
Environmentalism
An organized movement of concerned citizens and government agenceies to protect and improve people's living environment.
Exchange
The act of obtaining a desired object from someone by offing something in return.
Growth-share matrix
A portfolio-planning method that evaluates a compayny's strategic business units in terms of their market growth rate and relative market shre. SBUs are classified as stars, cash cows, question marks, or dogs.
Innovative marketing
A principle of enlightened marketing that requires that a company seek real product and mrketing improvements.
Internet
A vast public web of computer networks, which connects users of all types all around the world to each other and to an amazingly large information repository.
Market
The set of actual and potential buyers of a product or service.
Market Development
A strategy for company growth by identifying and developing now market segments for current company products.
Market penetration
A strategy for company growth by increasing sales of current products to current makret segments without changing the product.
Market Positioning
Arranging for a product to occupy a clear, distincit,ve and desirable place relative to competing products in the minds of target consumers.
Market segment
A grop of consumers who respond in a similar way to a given set of marketing efforst.
Market segmentation
dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes.
Marketing
The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return
Marketing audit
A comprehensive, systematic, independent, and periodic examination of a compayny's environment, objectives, strategies, and activities to determine problem areas and opportunities and to recommend a plan of action to improve the company's marketing performance.
Marketing concept
The markeitng management philsophy that holds that achiveing organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
Marketing control
The process of measuring and evaluating the results of marketing strategies and pans, and taking corrective action to ensure that objectives are achieved.
Marketing implementation
The process that turns marketing startegies and plans into marketing actions in order to accomplish strategic marketing objectivs.
Markeing managment
The are and science of choosing target markets and building profitable relationships with them.
Marketing offer
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Marketing strategy
The marketing logic by which the business unit hopes to achieve its marketing objectives.
Needs
States of felt deprivation
Partner relationship managament
Working closely with partners in other company departments and outside the company to jointly bring greater value to customers.
Pleasing products
Products that give high immediate satisfaction but may hurt consumers in the long run.
Portfolio analysis
The prodcess by which management evaluates the productsa nd businesses making up the company.
Product concept
The ideaa that consumers will favor prudcts that offer the most quality, performance, and featurs and that the organization should therefore devote its energy to making continuous product improvements
Product development
A strategy for company growth by offering modified or new products to current market segments.
Product/market expansion grid
A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification.
Production concept
The idea that consumers will favor products that are available and highly affordable.
Return on marketing (or marketing ROI)
The net return from a marekting investment divided by the costs of the marketing investment
Salutary products
producs that have low appeal but may benefit consumers in the long run.
Selling concept
The idea that consumers will not buy enough of the firm's products unless it understakes a large-scale selling and promotion effort.
Sense-of-mission marketing
A principle of enlightened marketing that holds that a company should define its mission in broad social terms trather than narrow product terms.
Share of customer
The portion of the customer's purchasing that a company gets in its product categories.
Social marketing
The design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group.
Societal marketing concept
A principle of enlightened marketing that holds that a company should make good marketing decisions by considering consumers' wants, the company's requirements, consumers' long-run interests, and society's long run interests.
Strategic planning
The process of devloping and maintaint a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. It involves defining a clear ccompany mission, setting supporting objectives, designing a sound business portfolio, and coordination functional strategies.
Value Chain
The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.
Value-deivery network
The network made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system.
Wants
The form human needs take as shaped by culture and individual personality.