Marketing Marketing Test 1

Front 1

Definition of Marketing

Back 1

is the activity, set of institutions and process for creating, capturing, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.

Front 2

Describe Marketing

Back 2

Create value, satisfy needs and wants of customers, exchange, Marketing Mix, performed b individuals and effects stockholders!

Front 3

Marketing Mix

Back 3

Four P's- Product, place, price and promotion

Front 4

Stakeholders

Back 4

someone has interest in organization but no money tied into organization. (etc. students, employees)

Front 5

T/F- Is promoting yourself marketing?

Back 5

True

Front 6

What do Companies get in exchange for the process of giving customer products?

Back 6

Money and information

Front 7

Types of values of four P's

1) Promotion

2) Proudct

3) Price

4) Place

Back 7

1) Communication

2) Creating

3) Capturing

4) Delivering

Front 8

What three aspects create value in marketing

Back 8

1) Goods

2) Services

3) Idea's

Front 9

Other than money, what else does a customer give (other than money) in exchange for a product

Back 9

energy and time are just as valuable to consumer

Front 10

Supply Chain Management

Back 10

Describes all activités necessary to get the product to the right customer when the customer wants it.

Front 11

During what time frame was marketing discovered?

Back 11

World War 2

Front 12

Sustainable competitive advantage-

Back 12

something different than competitors over period of time

Front 13

customer excellence-

Back 13

retaining loyal customers core customer service

Front 14

Planning Phase- Steps 1 and 2

Back 14

1) Business Mission and objectives

2) Situation analysis or SWOT, which stands for

Strengths, weakness, Opportunities and threats

Front 15

Implementation Phase- Steps 3 and 4

Back 15

3) Identify opportunities- segmentation, targeting and positioning

4) Marketing Mix- Product, Price, Placement, Place

Front 16

Control Phase- Step 5

Back 16

Evaluate performance using marketing metrics

Front 17

How long should a mission statement be?

Back 17

One to two sentences.

Front 18

STP- Segmentation, Targeting and Positioning

Back 18

Breaking groups up into others groups, putting products in mind of consumer and pick out which segment of market to go after

Front 19

Successful products and services are;

Back 19

those that customers perceive as valuable enough to use money, time and energy

Front 20

Market share

Back 20

how much control of a market a person or corruption has

Front 21

What is Conscious Marketing

Back 21

Recognition of marketing greater purpose, consideration of stakeholders and the understanding that designs are ethically based

Front 22

What are corporate social responsibilities?

Back 22

Ethical performance, social performance and environmental performance

Front 23

What is core competency?

Back 23

what your good at and your trade

Front 24

What is the process of efficiencies in the factory to the retailer

Back 24

Just in time delivery systems

Front 25

country culture

Back 25

subtler aspects can be difficult to navigate, but describes personality of country

Front 26

Culture

Back 26

is the shared meanings, beliefs, morals, values, and customs of a people group.

Front 27

Regional culture

Back 27

for national and global chains, particularly important to cater to regional preferences

Front 28

Describe Generation Y?

Back 28

Milennial's 1977-2000, alive for whole life of intent

Front 29

Describe Generation X?

Back 29

latchkey generation, more divorces among parents 1965-1976

Front 30

Describe Baby boomers

Back 30

1946-1964, children of world war 2 and made a ton of babies

Front 31

What relates to income?

Back 31

Education determines spending power

Front 32

Greener marketing

Back 32

Strategic effort by firms to supply customers with environmental friendly products or services in the effort to increase sales

Front 33

what is the marketplace

Back 33

world of trade

Front 34

what are goods in terms of marketing

Back 34

items that can be physically touched

Front 35

Definition of price

Back 35

is everything the buyer gives up, money time and energy

Front 36

definition of product

Back 36

create value by developing a variety of offerings including goods, services and idea's to satisfy customers needs

Front 37

definition of place

Back 37

represents all activités necessary to get the product to the right customer when that customer wants it

Front 38

definition of promotion

Back 38

communication by a marketer that informs, persuades and rewards potential buyers about a product or services to elicit response

Front 39

What is B2C

Back 39

Process to in which business sell to costumers

Front 40

What is B2B

Back 40

Process of selling merchandise or services from one business to another

Front 41

What is C2C

Back 41

process in which consumers sell to customers

Front 42

describe the production area

Back 42

1900-1920, false idea that "good products will sell itself"- henry ford black car

Front 43

describe the sales oriented era

Back 43

1920-1950, during world war 2, customers consumed less, manufactures produced more than customers needed which caused them to come up with new ways to market.

Front 44

describe the market based era

Back 44

1950-1990

After world war 2, suburban area's sprouted up and shopping for products became plentiful and customers had varied of choices.

Makreting disocverd in this era

Front 45

describe the value based era

Back 45

1990-now discover and satisfy customers needs and wants. the idea is to give customers greater value

Front 46

definition of value in marketing

Back 46

reflects the relationship of benefits to cost or what the customer gets for what he/she gives in return

Front 47

value cocreation

Back 47

customers act as collaborators with a manufacture or retailer to create the product of service

Front 48

what is the supply chain

Back 48

the group of firms that make and deliver a given set of goods and services

Front 49

marketing channel

Back 49

set of institutions that transfer ownership of goods and services from the point of production to consumption

Front 50

marketing strategy

Back 50

a firms target market, marketing mix and method of obtaining a sustainable completive advantage

Front 51

sustainable competitive advantage

Back 51

something the firm can persisitnaly do better than competitors

Front 52

marketing plan

Back 52

a written document composed of an analysis of the current marketing solution, opportunities and threats for the firm

Front 53

situation analysis

Back 53

second step in marketing plan uses SWOT that assesses both the internal environment with tregards to its SWOT

Front 54

SWOT Analysis

Back 54

Strength, weakness, opportunities and threats

Front 55

market segment

Back 55

a group of consumers who respond similar to a firms marketing efforts

Front 56

target marketing

Back 56

the process of evaluating the attractiveness of various segments and then providing what the market wants

Front 57

product development strategy

Back 57

a growth stagey that employs the existing marketing offerings to reach new market segments, that are domestic

Front 58

conscious marketing

Back 58

an approach to marketing that acknowledges four key principles. a higher call to stakeholders environment, better leadership and culture

Front 59

corporate social responsibility

Back 59

refers to the voluntary actions taken by a company to addresses ethical social environmental impacts of its business operations

Front 60

Triple bottom line

Back 60

a means of measure performance according to economic environmental and societal criteria

Front 61

Microenvironmental factors

Back 61

aspects of the external environmental that affect a companies business, such as the culture demographics and social trends

Front 62

country culture

Back 62

dress, symbols and languages of a particular country that differ from other countries

Front 63

regional culture

Back 63

the influence of the area within a countries population

Front 64

generational cohorts

Back 64

a group of people of the same generation typically have similar principles behaviors because, they have shared experiences and are in the same stage of life

Front 65

green washing

Back 65

exploiting consumers by dishonest marketing products or services as environmentally friendly with goal of public approval

Front 66

Economic situation

Back 66

macroeconomic factor that affects the way consumers buy merchandise and spending money

Front 67

Political/ regulatory environment-

Back 67

compromises political parties, government organizations and legislation laws

Front 68

study pictures in slide shows

Back 68

si

Front 69

study quizzes 1,2,4,5

Back 69

si

Front 70

how do you have good business ethics

Back 70

love jesus