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31 Cards in this Set
- Front
- Back
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Marketing
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the activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
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Conditions for an Exhange
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2 parties
something of value freedom to accept/reject communication and delivery desire to deal with other party |
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Marketing's First task
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finding costumer's needs
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Marketing Concept
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the idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives
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Marketing mgmt
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planning, controlling and organizing the marketing program of a firm
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advertising
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impersonal communication, or paid communication in which the sponsor or product is identified
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Integrated Marketing Communications
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designing marketing communications programs that coordinate all promotional activities to create a steady/consistent message
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retailing
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activities involved in renting, selling, and providing goods and services to ultimate consumers
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Marketing Research
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process of definign a marketing process and oppertunity, systematically collecting and analyzing data, and recommending actions.
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Brand Manager
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manages the market efforts of a closely related family of products. all the way from idea to production to choosing market and advertising.
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services
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intangible activities or benefits that a company/firm offers in exchange for money ( american cancer society)
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marketing channel
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individuals and firms that make the product/servivce available for consumer consumptions
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logistics
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activities that focus on getting the right amount of goods at the right place at the right time, at the lowest possible price.
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personal selling
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face to face selling between buyer and seller often times to influence the buyer into buying the product/service
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sales management
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planning, implementing and controlling the personal selling effort of the firm
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strategic planning
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managerial process of maintaining the relationship between the firm's objectives, resources, and market opportunities.
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goal of strategic planning
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long term profitability and growth
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Marketing plan
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an actual written document that acts as a guide book for marketing activities for marketing manager
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Philosophy of Marketin
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meet consumers needs legally and responsibly
focus on consumer wants and needs to distinguish from competitors integrating all company activities to meet customer needs |
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achieving a market orientation
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obtain info about competitors, market, and customers.
examine info from a total business aspect. figure how to deliver superior customer value implement these ideas |
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societal marketing concept
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the justification for an organizationals iexistence is to meet customer's needs while fulfilling organizations objectives
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customer value
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the relationship between benefits and sacrifices the customer must give up
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relationship marketing
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marketing that focues on keeping and improving relationships with current customers.
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Why study marketing
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deal with it everday
improves profitability plays important life in society |
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Why write a marketing plan
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compare expected vs actual outcomes
clearly state directions toward goals reference for success in future |
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mission statements
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identifies markets, customers, products, technology and values
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Marketing objective
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profit, market share,sales, quality, customer satisfaction, employee welfare
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criteria of marketing objectives
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realistic, time specific, measurable, consistent with the priorities of organizations
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Situation Analysis (SWOT)
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Strengths- things the comp. does well
Weakness- things the comp dont do well. Opportunities-outside influences that relate to strenghts Threats- outside influences that relate to weakness. |
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Competitive Advantages
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cost, productive/services differences, niche strategies
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Low Cost
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be the lowest competitor while still maintaining profitability
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