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23 Cards in this Set
- Front
- Back
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What are the 4 p's,
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Product, place, price, promotion
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An organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization
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Marketing
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Teacher's definition of marketing
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Marketing pertains to all decisions involved increating and keeping customers by understanding their needs of consumers and satisfying them
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Requirements for Exchange (5)
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1.) At least two parties
2.) Something of value 3.) Communication and delivery 4.) Freedom to accept or reject 5.) Desire to deal with other party |
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Nontraditional Marketing
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Person, Place, Event, Cause, Organization
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Deliberately choosing a different set of activities to deliver a unique mix of value to the target market
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Marketing Strategy
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Want satisfying power of a good or service
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Utility
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Types of utility
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Place, time, ownership (posession), Form
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Activity in which two or mor eparties give something of value to each other to satisfy perceived needs
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Exchange
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Business philosophy incorporating the marketing concept that emphasizes first determining consumer needs and then designing a system for satisfying them.
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Consumer Orientation
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Company-wide consumer orientation with the objective of achieving long-run success
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marketing concept
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Develpment and maintenance of long-term, cost-effective relationships with individual customers, suppliers, emploees and other partners for mutual benefit
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Relationship marketing
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Management's failure to recognize the scope of its business
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Marketing myopia
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The business application of knowledge based on scientific discoveris, inventions, and innovations
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Technology
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Buyer-seller communicatins in which the customer controls the amount and type of information received from a marketer
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Interactive marketing
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Another interactive technology for marketers and consumers alike to embrace, two-way digitial broadcast signal
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Internet protocol Television
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Marketing messages transmitted via wirelelss technology
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Mobile marketing
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the traditional view of marketing as a simple esxcchange process
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Transaction-based marketing
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The revenues and intangible benefits that a customer brings to an organization over an average lifetime, minus the investment the firm has made to attract and keep the customer
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Long-term value of a customer
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Parnterships in which two or more companies combine resources and capital to create a competitive advantage in a new market
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Strategic alliance
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What are the 8 exchange functions?
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buying, selling, transporting, storing, standardization and grading, finance, risk taking, securing marketing information,
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Moral standards of behavior accepted by society
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Ethics
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Involves marketing philosophies, policies, procedures, and actions whose primary objective is to enhance society
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Social responsibility
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