Marketing

Front 1

3 Basic Marketing Functions

Back 1

-Logistical Functions
-Distribution
-Transactional Funtions
-Selling
-Facilitating Functions
-Financing

Front 2

Form Utility

Back 2

-creating something that is in less usefull form into a usefull form

Front 3

Time Utility

Back 3

-making products available at times that are useful and convenient to customers

Front 4

Place Utility

Back 4

-making products available in places that are useful and convenient

Front 5

Posession utility

Back 5

-possesion utility is created when ownership is transferred.

Front 6

Why do we need marketing?

Back 6

-exchange processes such as gaps and discrepancies.
-performs activites to bridge.
-economic value is created

Front 7

What is the marketing concept?

Back 7

A philosophy of business
-satisfaction of customer needs
-long term goals of business longevity
-involvement of entire enterprise

Front 8

Societal marketing

Back 8

-marketing that fulfills needs, but are not harmful
-private wants should be met, but that fulfill public needs.

Front 9

The Marketing Mix

Back 9

-Product
-Price
-Place
-Promotion

Front 10

Product

Back 10

what the firm makes/sells

Front 11

Place

Back 11

distribution of the product

Front 12

Price

Back 12

statement of value

Front 13

Promotion

Back 13

communication mechanism of marketing
*includes advertising, personal selling, sales promotions

Front 14

Ethics

Back 14

principals of right and wrong, justice and fairness governing social conduct.
different from morality and legality

Front 15

Why is ethics important

Back 15

defines who you are as a company by the was you respond to a situation.
Marketplace rewards good behavior

Front 16

Idealism

Back 16

extent to which a person yields the "right" course of action to have the best outcomes.

Front 17

relativism

Back 17

the extent to which a person rejects typical moral ideals and is in favor of situational or subjective approaches.

Front 18

relativism items

Back 18

there can never be a moral code of ethics, because what is right and wrong to one person may not be the same as another.

Front 19

Why do people differ in morals and ethics

Back 19

different backgrounds
different ideologies
different standards

Front 20

Why do good people make bad judgements

Back 20

external pressures
unintentional moral relativism
rationalization

Front 21

Strategy

Back 21

a systematic plan of action

Front 22

Target Marketing

Back 22

tayloring a market mix to fit a target groups needs

Front 23

Mass Marketing

Back 23

Undifferentiated approach, blanket

Front 24

marketing strategy process

Back 24

-broad look at market
-SWOT analysis
-segmentation helps pin point market
-differentiaton and positioning
-marketing mix

Front 25

marketing penetration

Back 25

sell more present products to current customers

Front 26

market development

Back 26

find new products for current markets

Front 27

product development

Back 27

develop new products for existting customers

Front 28

Diversification

Back 28

New products to new customers

Front 29

consumer behavior

Back 29

actions of individuals involing the acquisition, use, and disposal of goods and services including the processes that precede those actions.

Front 30

Domain of Consumer behavior

Back 30

1.affect-moods feelings and emotions
2.cognition-thoughts, beliefs, and evaluations
3.behavior-buying, using, and disposing

Front 31

economic theory of buyer behavior

Back 31

consumers are rational utility maximizers.
normative model

Front 32

purchase decision making process

Back 32

-problem/need recognition
-information search
-evaluation of alternatives (evaluative criteria, importance weighing
-decision
-purchase
-post purchase processes

Front 33

external social influences

Back 33

family, social class, reference group,opinion leaders, culture, sub-culture

Front 34

percetion

Back 34

selection and interpretation of environmental stimuli.
perception is highly subjective.
people base their decisions on their distorted subjective perceptions.

Front 35

attitudes

Back 35

learned predispositions to act favorably or unfavorably to an object.

Front 36

learning

Back 36

consumer behavior is a learned behavior.
learning is a change in long term memory based on experience.

Front 37

personality

Back 37

inate, enduring response tendencies.
personality traits can act as moderators.

Front 38

self concept

Back 38

an individuals perceptions, beliefs, constual of his or herself.
shaped by culture.
consumers tend to use consumption to move from actual to ideal.

Front 39

culture

Back 39

collective mental programming.
the sum total of the way of life including things such as;behavior beliefs values languages and living practices.

Front 40

culture content

Back 40

belliefs, attitudes, goals and values.
the meaning of characteristic behaviors, rules, and norms

Front 41

cultural values

Back 41

widely held beliefs that affirm what is desireable.

Front 42

individualism

Back 42

the degree in a country to which individuals prefer to act as individuals rather than a group.

Front 43

power distance

Back 43

degree of inequality accepted and considered as normal among members of a society.

Front 44

masculinity vs. femininity

Back 44

degree to which values such as, assertiveness, performance, success, materialsim, and the competition prevail over values like the quality of life, maintainig good personal relationships, service, care for the weak, and solidarity

Front 45

uncertainty avoidance

Back 45

the degree to which people in a society prefer structured or unstructured situations.

Front 46

context

Back 46

how much information is conveyed and how much should be conveyed

Front 47

low context cultures

Back 47

messages are explicit and direct, words convey the meaning, circumstances are not so important

Front 48

high context cultures

Back 48

words, exact phrasing more important than the relationship, social context

Front 49

organizational b to b market

Back 49

any buyers that buy for resale or to produce other goods and services

Front 50

producers

Back 50

manufacturers, farmers, finacial institutions, other service providers

Front 51

middlemen

Back 51

wholesalers, retailers

Front 52

governmental units

Back 52

local, state, federal

Front 53

non profit

Back 53

national, red-cross, girl scouts, etc.