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23 Cards in this Set
- Front
- Back
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MARKETING MIX |
THE 4 P'S PRODUCT PRICE PLACE (DISTRIBUTION) PROMOTION |
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PROMOTIONAL MIX |
ASPP ADVERTISING SALES PROMOTION PERSONAL SELLING PUBLICITY |
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MARKET SEGMENTS |
GROUP OF CONSUMERS WITH SIMILAR DEMOGRAPHICS AND PSYCHO-GRAPHICS |
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TARGET MARKET |
MARKET SEGMENT COMPANY TRIES TO REACH WITH PRODUCTS/SERVICE |
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PRODUCT POSITIONING |
LABELING THE PRODUCT, POSITIONING THE PRODUCT IN THE MIND OF CONSUMERS IN RELATION TO OTHER PRODUCTS |
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MARKETING PLAN |
LONG RANGE PLAN USED IN STRATEGIC PLANNING |
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MARKETING MYOPIA AND CAUSES |
SHORT SIGHTED - FAILURE TO SEE FUTURE CAUSES: 1) ASSUMING MORE PEOPLE MEANS MORE SALES 2) ASSUMING NO CLOSE COMPETITION 3) TOO MUCH EMPHASIS ON MASS PRODUCTION AND NOT ON RESEARCH & DEVELOPMENT |
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CUSTOMER RELATIONSHIP MARKETING (CRM) |
DEVELOPING LONG-TERM PARTNERSHIPS WITH CONSUMERS |
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MARKETING PHILOSOPHIES |
1) PRODUCTION ORIENTATION - (WHAT CAN BE MADE WITH RESOURCES) 2) SALES ORIENTATION - (PRODUCE PRODUCT THEN FIGURE OUT HOW TO GET CUSTOMERS TO WANT IT) 3) MARKET CONCEPT ORIENTATION - (CONSUMER SATISFACTION) 4) SOCIETAL ORIENTATION - (PRESERVE INDIVIDUALS & SOCIETY'S BEST INTERESTS) |
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THE MARKETING PLAN |
1) ORGANIZATIONAL STATEMENT 2) SITUATION ANALYSIS (SWOT ANALYSIS) 3) OBJECTIVES 4) MARKETING STRATEGY A) TARGET MARKETS B) MARKETING MIX 5) IMPLEMENTATION AND EVALUATION |
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MARKETING ETHICS |
MORAL PRINCIPLES THAT DEFINE RIGHT AND WRONG BEHAVIOR IN MARKETING |
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MORALS |
RULES OR HABITS THAT PEOPLE DEVELOP AS A RESULT OF CULTURAL VALUES AND NORMS |
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ETHICAL ISSUES IN MARKETING |
1) TOBACCO AND ALCOHOL PROMOTION 2) CONSUMER PRIVACY 3) GREEN MARKETING A) PRODUCTS CONTAIN REUSABLE/RECYCLABLE MATERIAL B) PRODUCTS ARE MADE OF LESS TOXIC MATERIALS C) PRODUCTS ARE MADE OF MORE DURABLE MATERIAL 4) PRODUCT SAFETY 5) MISLEADING ADVERTISING |
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FACTORS THAT INFLUENCE ETHICAL DECISION MAKING |
1) EXTENT OF CURRENT ETHICAL PROBLEMS WITHIN THE ORGANIZATION 2) MANAGEMENT'S ACTIONS ON ETHICS - NEED TO LEAD BY EXAMPLE 3) POTENTIAL MAGNITUDE OF THE CONSEQUENCES 4) SOCIAL CONSENSUS 5) PROBABILITY OF HARMFUL OUTCOME 6) LENGTH OF TIME BETWEEN DECISION AND ONSET OF CONSEQUENCES 7) NUMBER OF PEOPLE AFFECTED |
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CORPORATE SOCIAL RESPONSIBILITY |
THE CONCERN FOR BOTH THE LONG-RANGE BEST INTERESTS OF THE COMPANY AND THE COMPANY'S RELATIONSHIP TO SOCIETY WITHIN WHICH IT OPERATES |
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STRATEGIES FOR DEALING WITH SOCIAL RESPONSIBILITY ISSUES |
1) REACTION STRATEGY 2) DEFENSIVE STRATEGY 3) ACCOMMODATION STRATEGY 4) PROACTIVE STRATEGY |
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PYRAMID OF CORPORATE RESPONSIBILITY |
TOP - PHILANTHROPIC RESPONSIBILITY 2ND - ETHICAL RESPONSIBILITY 3RD - LEGAL RESPONSIBILITY BASE - ECONOMIC RESPONSIBILITY |
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SOCIAL CHANGE |
1) CHANGING ROLES IN FAMILIES 2) INCREASING IMPORTANCE ON SAVING TIME 3) INCREASING IMPORTANCE ON HEALTHY LIFESTYLES 4) INCREASING IMPORTANCE ON PROTECTING ENVIRONMENT |
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DEMOGRAPHIC CHARACTERISTICS (BUYING BEHAVIOR) |
1) GROWING SINGLES MARKET 2) CHANGING FAMILY STRUCTURE 3) GROWING ETHNIC MARKETS 4) KEY AGE GROUPS 5) AGING OF POPULATION 6) MOVING POPULATION |
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ECONOMIC FACTORS |
1) RISING INCOMES (GROSS, NET, DISCRETIONARY) 2) INFLATION 3) RECESSION |
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ENGEL'S LAW |
"AS A FAMILY'S INCOME INCREASES, % SPENT ON FOOD DECREASES, % SPENT ON HOUSING/CLOTHING/NECESSITIES STAYS SAME, % SPENT ON LUXURIES/SAVINGS INCREASES" |
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COMPETITIVE FACTORS |
1) PURE COMPETITION - MANY SELLERS, MANY BUYERS, SELLERS TAKE GIVEN PRICE, LEAST COMMON 2) MONOPOLY - ONE SELLER, MANY BUYERS, RESTRICTED ENTRY 3) OLIGOPOLY - FEW SELLERS, MANY BUYERS, PRODUCTS ARE SIMILAR 4) MONOPOLISTIC - MANY SELLERS, MANY BUYERS, PRODUCTS ARE SIMILAR, SELLERS SET PRICE, HEAVY PROMOTION, MOST COMMON |
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LEGAL ENVIRONMENT LAWS |
1) SHERMAN ACT (1890) - OUTLAWS ACTIVITIES WHICH RESTRICT TRADE & COMPETITION 2) ROBINSON-PATMAN ACT (1936) - PROHIBITS PRICE DISCRIMINATION 3) LANHAM ACT (1946) - CREATED TRADEMARKS |
