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39 Cards in this Set
- Front
- Back
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countermarketing
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reduce demand for another company's product
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demarketing
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reducing demand for one's own product (ex. - oil companies during time of shortage, WWII)
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creation and delivery of standard of living to society
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marketing
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an organizational function & a set of processes for creating, capturing, communicating, & delivering VALUE to customers && for managing customer relationships
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marketing
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what is marketing?
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- Occurs in many settings
- Helps create value - About satisfying customer needs & wants - can be performed by both individuals & organizations - requires product, place, price & promotion decisions - entails an exchange |
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approaches to the study of marketing
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1. Commodity – WHAT(1950’S, agriculture)
2. Institutional – WHO 3. Functional – HOW (4 P’S used, Michigan state) 4. Managerial – (opportunities & threats, discounts) 5. Eclectic – best of approaches 1 -4 (what we use in class) |
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– trade of things of value between the buyer & seller so that each is better off as a result (money, votes, time, information)
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exchange
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disciplines of marketing
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1. Economics
2. Sociology 3. Psychology 4. Cultural Anthropology 5. Quantitative Methods |
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four types of utility
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time
place form ownership |
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4 P's
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Price
Product Place Promotion |
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Marketing activities
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exchange
distribution facilitating functions |
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risks
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failure to function
overpriced social risks time risks |
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standardizing examples
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shoes, eggs (grading)
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production oriented motto
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"make it"
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sales oriented motto
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"push it"
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Key Marketing perspectives
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1. global
2. relationship 3. ethics 4. customer value 5. productivity 6. technology 7. entrepeneurship |
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Customer value
The four excellences |
customer excellence
locational excellence operational excellence product excellence |
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achieved when a firm develops value-based strategies for retaining loyal customers & provides outstanding customer service
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customer excellence
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good physical location & Internet presence
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locational excellence
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efficient operations & excellent supply chain & HR management
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operational excellence
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having products with high perceived value & effective branding & positioning
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product excellence
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3 phases of marketing plan
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1. planning
2. implentation 3. control |
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internal, positive
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strength
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internal, negative
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weakness
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external, positive
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opportunities
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external, negative
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threats
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stars
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high-growth markets, high market share products; best position to be in
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cash cows
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generate a lot of revenue
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dogs
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worst position to be in; dying market, best strategy – get rid of
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an ethics perspective incorporates moral and social responsibility issues into marketing decisions and activities
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marketing ethics
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describes the voluntary actions taken by a company to address the impacts
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corporate social responsibility
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Examples of unethical behaviors in marketing environment
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-misleading promotions
-high pressure sales techniques -deceptive sales tactics -misrepresentation of research data -misleading advertising - time shares! weight loss! |
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Create and ethical climate in the work place:
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- values
- rules - controls |
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steps to values
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- establish
- share - understand |
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steps to rules
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- management commitment
- employee dedication |
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steps to controls
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- reward
- punishment |
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six tests of ethical action
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- publicity test
- moral mentor test - golden rule test - admired observer test - person in the mirror test - transparency test |
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example of the immediate environment
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Delta not only competes with American Airlines, but also with Greyhound and Amtrak
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ZPG
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zero population growth
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