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53 Cards in this Set
- Front
- Back
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Marketing is not __________ or ___________ |
Selling, advertising |
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Needs are... |
States of felt depervation, |
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Wants are |
needs shaped by culture and personality |
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Demands are |
wants that are backed by buying power |
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High Profit, Short Term Customers |
Butterflies |
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Low Profit, Short Term Customers |
Strangers |
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High Profit Long Term Customers |
True Friends |
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Low Profit, Long Term Customers |
Barnacles |
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True friends can grow into |
True believers |
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Strangers and Barnacles are a ______ fit |
Limited |
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Butterflies and True Friends are a ______ fit |
Good |
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Demarkting is... |
An effort to reduce the number of customers or to shift their demand temp. or permanently. |
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Production focuses on... |
Interal capabilities of the firm rather than on the desires and needs of the marketplace |
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Sales focuses on.... |
People will buy more good and services if aggressive sales techniques are used and that high sales will result. |
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Market focuses on... |
The social and economic justification for an organization's existence is the satisfaction of customer needs and wants while meeting organizational objectives. |
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Societal focuses on... |
An organization exists not only to satisfy customer needs and wants and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interest. |
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Customer Value |
The difference between all of the benefits and all of the sacrifices to obtain those benefits |
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Customer Satisfaction |
The Customer's evaluation of a good or service in terms of whether it has met their needs and expectations. |
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Business Portfolio |
Collection of businesses and products that make up the company. |
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Strategic Business Unit (SBU) |
Subgroup of a single business, or collection of related business within the larger organization. It can also be defined as a product line with a division or even a single product or brand. |
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Implementation is as important as or even more important than |
Planning |
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Refers to the moral principles or values that generally govern the conduct of an individual or group |
Ethics |
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The rules people develop as a result of cultural values and norms. |
Morals |
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Intermediaries mark up prices beyond the value of their services and they are inefficient |
High cost distribtution |
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Packaging and promotion only adds psychological value |
High Advertising Costs |
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Preying on consumers to make huge profits |
Excessive mark ups |
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Deceptive pricing is.... |
large reduction from a phony high retail list price |
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Deceptive Promotion |
Overstating a product's features and performance |
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Deceptive Packaging |
exaggerating package contains through subtle design |
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Planned Obsolescencse |
Products need to be replaced before they should actually need it |
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Cultural Pollution |
"Commercial Noise" - Constant assault of advertising |
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Consumerism |
concerned citizens and government agencies organized to improve the rights and power of buyers in relation to sellers |
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Enviromentalism |
concerned citizens, businesses, and government agencies organized to protect and improve people's living enviroment |
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Corporate social responsibility is a business's concern for society's... |
welfare |
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Philanthropic Responsibilities |
Be a good Corporate citizen |
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Ethical Responsibilities |
Be Ethical |
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Legal Responsibilities |
Obey the Law |
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Economic Responsiblities |
Be Profitable |
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What are 3 things adopted the euro can do? |
Decrease Currency Risk Make countries w/ weak currency more attractive Highlights differences in prices from country to country |
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Some argue that globalization really means... |
Americanization |
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Subsistence Economy |
Most people engage in simple agriculture |
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Raw Material Economy and exporter |
Rich in some natural resources but very poor in others |
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Industrializing economy |
manufacturing represents 10-20% of the country's economy |
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Industrialized economy |
major exporters of manufactured |
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Tax on certain imported products to raise revenue or protect domestic firms |
Tariff |
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Sets limits on the amount of goods the importing country will accept in certain categories, designed to protect local industry |
Qouta |
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Strongest form of quota, totally bans some kinds of imports |
boycott |
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limits the amount of foreign exchange and the exchange rate against foreign |
exchange control |
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direct exchange |
barter |
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the seller sells a plant, equipment, or technology to another country and agrees to take payment in the resulting products |
Compensation agreement |
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the seller receives full payment in cash but agrees to spend some portion in the other country within a stated period of time |
Counter purchase |
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Operating __________ is more difficult, risker, and has greater profit potential thus operating ________ is easier, safer but may limit profit potentional |
Globally, domestically |
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Selling domestic products in foreign countries |
exporting |
