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22 Cards in this Set

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  • Back
Marketing
marketing is a total system of business activities designed to plan, price, promoteand distribute want satisfying products to target matkes to achieve organizational objectives
product orientation
firms focus on the qualitylu and the weatity of offerring while assuming that customers will seek out and but reasonably priced, well made products
SAles orientation
heavy rliance on promtioal avctivity to sell the procucts the firm wanted to make.
market orientation
where companies identify what customers want and tailor the activities of the form to satisfy the needs as efficiently as possible
marketing concept
emphasizes customer orientaion and coordination of marketing activities to achieve the organuzations erformance objectives
customer orienteddesigned and combined in an coherent and consistent way and that one ecevutive shou,d ahve the overall authority and responsibility of the activities
every department and empliyee should be focused on contributing to the satisfacion of the customers needs
coordinated
the marketing eddorts(poduct planning, pricing, ppromoting and distributing should be
organizations performance objectives
ultimate business objective is return on investment, stock proce and market capiltalization
Customer relationship management (CRM)
establishing multidimensional connections with a customer such that the orhanizstion id seen as a partner-built on trust and musual committment, require alot of time and effort to create and maintain
mass customization
developing producing and delivering affordable products with enough variety and uniqueness that nearly every potential customer can exactly what they want
total quality management
system for implementing organization wisde commitment to quality that incolves every emplyee accepting responsibility for quality improvement
value
the customers perception of all te benefits of a product weighted against all the costs of acquiring and consuming the product
value creation
more informato is available for what customers want and desire and constant improvements in technology
performance metrics
how much money is the company goibng to spend on marketing, Return on the marketing investment
Societal Marketing concept
the firms full social responsibility
market
a market is an organization or a group of people with needs to satisfy, money to spend and the willing ness to spend that money
market segments
the subroups of the markey of which consumers whithin the larger market share similar wants, buying preferences and product usage
target market
the market at ehich the firm is directing the marketing program
marketing mix
the combination od a rodcuct where and when it is distributed, how it is prometd and wha tits rive is ( these must satisfy the needs of the target market)
ethics
standards of behavior generally accepted by a society
position
the way the roduct brand, organzation is viewed in relation to the competition by current and prospective companies
utility
the want satsfying power of a product