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19 Cards in this Set
- Front
- Back
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a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups |
customer relationship management (CRM) |
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a marketing strategy that entails attracting new customers to existing products |
market development |
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a marketing strategy that tries to increase market share among existing customers |
market penetration |
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a written document that acts as a guidebook of marketing activities for the marketing manager |
marketing plan |
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identifying internal strengths and weaknesses, and also examining external opportunities and threats |
SWOT analysis |
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the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets |
marketing strategy |
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a unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges wit a target market |
Marketing mix (four P's) |
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a business's concern for society's welfare |
corporate social responsibility (CSR) |
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a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges |
target market |
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the study of people's vital statistics, such as age, race and ethnicity, and location |
demography |
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the market of goods and services to individuals and organizations for purposes other than personal consumption |
business marketing |
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segmenting markets by region of a country or the world, market size, market density, or climate |
geographic segmentation |
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segmenting markets on the basis of personality, motives, lifestyles, and geodemographics |
psychographic segmentation |
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segmenting potential customers into neighborhood lifestyle categories |
geodemographic segmentation |
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a situation that occurs when sales of a new product cut into sales of a firm's existing products |
cannibalization |
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the process of planning, collecting, and analyzing data relevant to a marketing decision |
marketing research |
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a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products |
brand |
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the value of a company or brand name |
brand equity |
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consistent preference for one brand over all others |
brand loyalty |
