Marketing Chapters 1-5

Front 1

Marketing

Back 1

Creating, communicating, delivering and exchanging offerings that benefit customers

Front 2

2 Objectives of Marketing

Back 2

To discover needs and wants of customer

To satisfy them

Front 3

Marketing Mix (4 P's)

Back 3

Product

Price

Place

Promotion

Front 4

Environmental Forces

Back 4

Social

Economic

Technological

Competitive

Regulatory

Front 5

Customer Value

Back 5

unique combo of benefits received by target buyers that include quality, convenience...

Front 6

Market Segments

Back 6

homogeneous groups of buyers that have common needs and respond similarly

Front 7

Kinds of Organizations

Back 7

For- Profit

Non-Profit

Government Agency

Front 8

Strategy

Back 8

organizations long term course of action designed to give customer satisfaction and fulfill goal

Front 9

Levels of Organization

Back 9

Corporate Level

Strategic Business

Functional Level

Front 10

Organizational Foundation (Whys)?

Back 10

Core Values

Mission

Culture

Front 11

Organizational Foundation (What)?

Back 11

Business (industry)

Goals

Front 12

Organizational Foundation (how)?

Back 12

Variation by level

Variation by Product

Front 13

Marketing Dashboard

Back 13

Visual computer display of essential marketing info

Front 14

Marketing Metric

Back 14

a measure of the value or trend of a marketing action or result

Front 15

Diversification Analysis

Back 15

technique used to search for growth opportunities in current and new markets & products

Front 16

Strategic Marketing Process

Back 16

1.)Planning Phase

2.)Implementation Phase

3.)Evaluation Phase

Front 17

SMP Planning Phase

Back 17

SWOT Analysis

Market Product Focus

Marketing Program (4 P's)

Front 18

SMP Implementation Phase

Back 18

Obtaining Resources

Designing Marketing Organization

Define Tasks, Responsibilities and Deadlines

Execute Program

Front 19

SMP Evaluation Phase

Back 19

Comparing Results with Plans

Acting on Deviations

Front 20

Social Forces

Back 20

Demographics (pop, generations, diversity)

Culture

Front 21

Economic Forces

Back 21

Macroeconomic Conditions

Consumer Income

Front 22

Technological Forces

Back 22

tech of tomorrow

Front 23

Competitive Forces

Back 23

Pure Competition

Monopolistic Comp

Oligopoly

Pure Monopoly

Front 24

Regulatory Forces

Back 24

Protecting Competition

Protecting Consumers and Producers

Self Regulation

Front 25

Ethical Marketing Practices

Back 25

Societal and Cultural Norms

Business Culture and Practices

Corp Culture & Expectations

Personal Philosophy

Front 26

Three Concepts of Social Responsibility

Back 26

Profit Responsibility

Stakeholder Responsibility

Societal Responsibility

Front 27

5 Stages of Purchase Decision Process

Back 27

1.) Problem Recognition

2.) Info Search

3.) Assessing Values

4.) Purchase Decision

5.) Postpurchase Behavior

Front 28

High Involvement vs. Low Involvement

Back 28

High involvement is for items that are expensive or could have serious consequences

Low involvement is for small everyday items

Front 29

Situational Influences

Back 29

Purchase Task

Social Surroundings

Physical Surroundings

Temporal Effects (time)

Antecedent State (mood, cash)

Front 30

Psychological Influences on Behavior

Back 30

Motivation

Personality

Learning

Values

Front 31

Consumer Motivation Hierarchy

Back 31

Self Actualization

Personal Needs

Social Needs

Safety Needs

Psychological Needs

Front 32

Personality

Back 32

a persons consistent behaviors or responses to recurring situations. Actual Self vs. Ideal Self

Front 33

Selective Exposure

Back 33

when people only pay attention to messages consistent with beliefs

Front 34

Selective Comprehension

Back 34

interpreting info so its consistent with beliefs

Front 35

Selective Retention

Back 35

consumers only remember specific things

Front 36

Subliminal Perception

Back 36

hear or see messages without being aware

Front 37

Perceived Risk

Back 37

anxiety felt because consumer cannot anticipate outcomes of purchase

Front 38

Behavioral Learning

Back 38

repeat exposure

Drive, Cue, Response, Reinforcement

Front 39

Cognitive Learning

Back 39

Learning through thinking instead of experience

Front 40

Ways to change attitudes

Back 40

change beliefs about the brands certain attributes

change perceived importance of attributes

add new attributes

Front 41

VALS FRAMEWORK (motivators)

Back 41

Ideals

Achievement

Experience

Front 42

Sociocultural Influences On Consumer Behavior

Back 42

Personal Influence

Reference Group Influence

Family Influence

Culture and Subculture Influence

Front 43

Personal Influence on Consumer Behavior

Back 43

Opinion Leadership

Word of Mouth

Front 44

Types of Reference Groups

Back 44

Associative

Aspiration

Dissociative

Front 45

5 family roles

Back 45

info gatherer

influencer

Decision Maker

Purchaser

User

Front 46

Business Marketing

Back 46

Marketing to a firm, gov org, or nonprofit

Front 47

3 Types of Organizational Buyers

Back 47

Industrial

Reseller

Government

Front 48

NAICS

Back 48

provides common industry definitions for North America. 6 digit system

Front 49

Characteristics of Organizational Buying

Back 49

Demand Characteristics

Size of Order

Number of Buyers

Objectives

Criteria

Relationships

Front 50

Roles in Buying Center

Back 50

Users

Influencers

Buyers

Deciders

Gatekeepers

Front 51

Buy Classes

Back 51

New Buy

Straight Rebuy

Modified Rebuy

Front 52

Online Buying Prominence Reasons

Back 52

timely info

reduce processing costs

reduce market costs