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30 Cards in this Set

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  • Back
Value-delivery
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.
Marketing
Strategy
The marketing logic by which the business unit hopes to achieve its marketing objectives
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
Market Segment
Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes
Target Marketing
The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
Market positioning
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds to target consumers
Marketing Mix
The set of controllable tactical marketing tools- product, price, place, and promotion- that the firm blends to produce the response it wants in the target market.
Marketing
Implementation
The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives
Marketing
Control
The process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that objectives are achieved.
Marketing audit
A comprehensive, systematic, independent, and periodic examination of a company’s environment, objectives, strategies, and activities to determine problem areas and opportunities and to commend a plan of action to improve the company’s marketing performance.
Marketing
Environment
The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.
Microenvironment
The actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
Macroenvironment
The larger societal forces that affect the microenvironment- demographic, economic, natural, technological, political, and cultural forces.
Marketing
Intermediaries
Firms that help the company to promote, sell, and distribute its goods to final buyers; they include resellers, physical distribution firms, marketing service agencies, and financial intermediaries.
Demography
The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
Economic
Environment
Factors that affect consumer buying power and spending patterns
Engel’s laws
Differences noted over a century ago by Ernst Engel in how people shift their spending across food, housing, transportation, health care, and other goods and services categories as family income rises.
Natural
Environment
Natural resources that are needed as inputs by marketers or that are affected by marketing activities
Technological
Environment
Forces that create new technologies, creating new product and market opportunities
Political
Environment
Laws. Government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.
Cultural
Environment
Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors.
Marketing
Information
System (MIS)
People, equipment, and procedures, to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
Internal databases
Electronic collections of information obtained from data sources within the company.
Marketing
Intelligence
The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment
Marketing
Research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Exploratory
Research
Marketing research to gather preliminary information that will help define problems and suggest hypotheses.
Descriptive
Research
Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes or consumers.
Causal Research
Marketing research to test hypotheses about cause-and-effect relationship
Focus group
Interviewing
Personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer “focuses” the group discussion on important issues.
Customer
Relationship
Management (CRM)
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.