Marketing 3 And 4

Front 1

Value-delivery
Network

Back 1

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.

Front 2

Marketing
Strategy

Back 2

The marketing logic by which the business unit hopes to achieve its marketing objectives

Front 3

Market
Segmentation

Back 3

Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes

Front 4

Market Segment

Back 4

Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes

Front 5

Target Marketing

Back 5

The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

Front 6

Market positioning

Back 6

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds to target consumers

Front 7

Marketing Mix

Back 7

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.

Front 8

Marketing
Implementation

Back 8

The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives

Front 9

Marketing
Control

Back 9

The process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that objectives are achieved.

Front 10

Marketing audit

Back 10

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.

Front 11

Marketing
Environment

Back 11

The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

Front 12

Microenvironment

Back 12

The actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Front 13

Macroenvironment

Back 13

The larger societal forces that affect the microenvironment- demographic, economic, natural, technological, political, and cultural forces.

Front 14

Marketing
Intermediaries

Back 14

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.

Front 15

Demography

Back 15

The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

Front 16

Economic
Environment

Back 16

Factors that affect consumer buying power and spending patterns

Front 17

Engel’s laws

Back 17

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.

Front 18

Natural
Environment

Back 18

Natural resources that are needed as inputs by marketers or that are affected by marketing activities

Front 19

Technological
Environment

Back 19

Forces that create new technologies, creating new product and market opportunities

Front 20

Political
Environment

Back 20

Laws. Government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.

Front 21

Cultural
Environment

Back 21

Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors.

Front 22

Marketing
Information
System (MIS)

Back 22

People, equipment, and procedures, to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Front 23

Internal databases

Back 23

Electronic collections of information obtained from data sources within the company.

Front 24

Marketing
Intelligence

Back 24

The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment

Front 25

Marketing
Research

Back 25

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Front 26

Exploratory
Research

Back 26

Marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Front 27

Descriptive
Research

Back 27

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.

Front 28

Causal Research

Back 28

Marketing research to test hypotheses about cause-and-effect relationship

Front 29

Focus group
Interviewing

Back 29

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.

Front 30

Customer
Relationship
Management (CRM)

Back 30

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.