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69 Cards in this Set
- Front
- Back
Business Portfolio
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The collection of businesses and products that make up the company.
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Consumer-oriented marketing
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The philosophy of enlightened marketing that holds that the company should view and organize its marketing activities from the consumer's point of view.
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Consumerism
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An organized movement of citizens and govermnet agencies to improve the rights and power of buyers in relation to sellers
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Customer equity
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The toal combined customer lifetime values of all of the company's customers.
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Customer perceived value
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The diference bweteen total customer value and total customer cost.
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Customer relationship management (CRM)
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The overall process of building and maintaining profitable customer relationships by delivering superior customer value and ssatisfaction.
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Customer satisfaction
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The extent to which a product's perceived performance matches a buyer's expectations.
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Customer value marketing
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A principle of enlightened marketing that hods that a company should put most of its resources into customer value-building marketing investments.
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Deficient products
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Products that have neither immediate appeal nor long-run benefits.
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Demands
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Human wants that are backed by buying power.
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Demarketing
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Marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but only to reduce or shift it.
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Desirable products
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Products that give both high immediate satisfactions and high long-run benefits.
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Diversification
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A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets.
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Downsizing
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Reducing the bueinsess portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy.
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Enlightened marketing
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A marketing philosophy holding that a company's marketing should support the best long-run performance of the marketing.
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Business Portfolio
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The collection of businesses and products that make up the company.
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Consumer-oriented marketing
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The philosophy of enlightened marketing that holds that the company should view and organize its marketing activities from the consumer's point of view.
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Consumerism
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An organized movement of citizens and govermnet agencies to improve the rights and power of buyers in relation to sellers
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Customer equity
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The toal combined customer lifetime values of all of the company's customers.
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Customer perceived value
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The diference bweteen total customer value and total customer cost.
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Customer relationship management (CRM)
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The overall process of building and maintaining profitable customer relationships by delivering superior customer value and ssatisfaction.
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Customer satisfaction
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The extent to which a product's perceived performance matches a buyer's expectations.
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Customer value marketing
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A principle of enlightened marketing that hods that a company should put most of its resources into customer value-building marketing investments.
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Deficient products
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Products that have neither immediate appeal nor long-run benefits.
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Demands
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Human wants that are backed by buying power.
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Demarketing
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Marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but only to reduce or shift it.
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Desirable products
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Products that give both high immediate satisfactions and high long-run benefits.
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Diversification
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A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets.
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Downsizing
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Reducing the bueinsess portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy.
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Enlightened marketing
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A marketing philosophy holding that a company's marketing should support the best long-run performance of the marketing.
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Environmental sustainability
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A management approach that involves developming strategies that both sustain the environment and produce profits for the company.
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Environmentalism
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An organized movement of concerned citizens and government agenceies to protect and improve people's living environment.
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Exchange
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The act of obtaining a desired object from someone by offing something in return.
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Growth-share matrix
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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.
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Innovative marketing
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A principle of enlightened marketing that requires that a company seek real product and mrketing improvements.
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Internet
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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.
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Market
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The set of actual and potential buyers of a product or service.
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Market Development
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A strategy for company growth by identifying and developing now market segments for current company products.
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Market penetration
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A strategy for company growth by increasing sales of current products to current makret segments without changing the product.
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Market Positioning
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Arranging for a product to occupy a clear, distincit,ve and desirable place relative to competing products in the minds of target consumers.
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Market segment
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A grop of consumers who respond in a similar way to a given set of marketing efforst.
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Market segmentation
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dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes.
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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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Marketing audit
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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.
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Marketing concept
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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.
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Marketing control
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The process of measuring and evaluating the results of marketing strategies and pans, and taking corrective action to ensure that objectives are achieved.
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Marketing implementation
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The process that turns marketing startegies and plans into marketing actions in order to accomplish strategic marketing objectivs.
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Markeing managment
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The are and science of choosing target markets and building profitable relationships with them.
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Marketing offer
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Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
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Marketing strategy
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The marketing logic by which the business unit hopes to achieve its marketing objectives.
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Needs
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States of felt deprivation
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Partner relationship managament
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Working closely with partners in other company departments and outside the company to jointly bring greater value to customers.
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Pleasing products
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Products that give high immediate satisfaction but may hurt consumers in the long run.
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Portfolio analysis
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The prodcess by which management evaluates the productsa nd businesses making up the company.
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Product concept
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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
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Product development
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A strategy for company growth by offering modified or new products to current market segments.
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Product/market expansion grid
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A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification.
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Production concept
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The idea that consumers will favor products that are available and highly affordable.
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Return on marketing (or marketing ROI)
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The net return from a marekting investment divided by the costs of the marketing investment
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Salutary products
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producs that have low appeal but may benefit consumers in the long run.
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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 understakes a large-scale selling and promotion effort.
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Sense-of-mission marketing
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A principle of enlightened marketing that holds that a company should define its mission in broad social terms trather than narrow product terms.
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Share of customer
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The portion of the customer's purchasing that a company gets in its product categories.
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Social marketing
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The design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group.
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Societal marketing concept
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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.
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Strategic planning
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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.
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Value Chain
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The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.
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Value-deivery network
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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.
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Wants
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The form human needs take as shaped by culture and individual personality.
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