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43 Cards in this Set

  • Front
  • Back
Marketing is
process of PLANNING and EXECUTING
the CONCEPTION, PRICING, PROMOTION and DISTRIBUTION
of IDEAS, GOODS and SERVICES, to CREATE EXCHANGES
to SATISFY OBJECTIVES (individual/organizational)
Product Orientation
*Production concept
*Product concept
*"if we build it, they will come"
*most inner-directed
Sales Orientation
*Selling concept
*"sell what we make"
*2nd most inner-directed
Market Orientation
*Marketing concept
*"Make what we can sell'
*2nd most outer-directed
Relationship Marketing Orientation
*Relationship marketing concept
*network marketing
*customer relationship marketing
*"a 360-degree view of serving customers"
*most outer-directed
Marketing Concept
1.Customer Focus
2.Coordinated Marketing
3.Long-term success
Customer Focus
*pillar of marketing concept
*satisfy needs and wants
Coordinated marketing
*pillar of marketing concept
*marketing should be an effort by everyone: positions should be obsolete
long term success
*pillar of marketing concept
*customer for life better than a $1 a day
Exchange Process
one or more parties give something of value to each other to satisfy perceived needs
Marketing facilitates exchange process by 8 activities:
Buying, Selling

Transporting, Storing

Financing, Risk-taking, Standardizing and grading, information acquisition and provision
Buying
*exchange
*seeking and evaluating alternatives
Selling
*exchange
*promotion of alternatives to consumers
Transporting
*logistical
*movement of goods and services
Storing
*logistical
*holding of goods and services
Financing
*facilitating
*facilitating exchange
Risk-taking
*facilitating
*holding title
information acquisition and provision
*facilitating
*understanding markets (consumer and industrial)
standardizing and grading
*facilitating
*sorting by size and quality
marketing facilitates the exchange process by creating 4 types of utilities
Ownership
Place
Form
Time
Form utility
transformation of raw materials/labor into a finished good/servie that the consumer desires
Place utility
availability of a good/service WHERE the consumer wants/needs it
Ownership utility
transferring title of a good/service from producer to consumer
Time Utility
availability of good/service WHEN consumer wants/needs it
MARKETING FACILITATES EXCHANGE
Marketing activities(8)--->
Utility Creation(4)--->
exchange that satisfy goals (individual and organizational)
Societal Marketing concept
satisfying customers needs and wants in a manner that is in the best interest of customers and society-at-large
What impact does marketing have on society?
1)provides jobs
2)customer alternatives
3)affordable products
4)limited natural resources
5)unintended social consequences
6)promotes societal causes
7)fuels global economy
market
people that are willing, able ($) and have access
mass market
one product/one world, everyone has same needs and wants
market segmentation
process of dividing market up into people who have similar wants and needs
target marketing
focus marketing efforts on a particular segment
marketing mix
Product
Price
Promotion
Place
positioning strategy
how viewed by consumers relative to the competition
marketing strategy
target market + marketing mix + positioning strategy
marketing plan
marketing strategy + time related details
marketing program
all marketing plans
Environmental forces
*exist outside the walls of the firm
*less controllable
1)sociocultural
2)economic
3)natural
4)technological
5)political and legal
6)competetive forces
economic environmental factors
business cycle
inflation
income
natural
implementation of envronmentally friendly strategies
Environmental forces: technological
application of sciences to solve problems and perfom tasks
political and legal
antitrust regulation
consumer protection
competetive forces
research the market
identify current competition
anticipate competitive action
sociocultural
population,
emerging markets,
family structure,
aging population