Marketing Pp. Lesson 1-2 Introduction To Marketing

Front 1

What is Marketing?

Back 1

Organizational function and a set of processes for creating, delivering and communicating value to customers and managing customer relationships in a way that benefits the stakeholders and organization.

Front 2

What is marketing management?

Back 2

The art and science of choosing target markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value.

Front 3

What is marketed

Back 3

1. Services
2. Products
3. Events
4. Experiences
5. Persons
6. Places
7. Ideas

Front 4

What are the 8 demand states?

Back 4

1. Negative demand: consumers dislike the product and may even pay a price to avoid it.
2. Nonexistent demand: consumers may be unaware or uninterested in the product.
3. Latent demand: consumers may share a strong need that cannot be satisfied by an existing product.
4. Declining demand: consumers begin to buy the product less frequently or not at all.
5. Irregular demand: consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.
6. Full demand: consumers are adequately buying all products put into the marketplace.
7. Overfull demand: more consumers would like to buy the product than can be satisfied.
8. Unwholesome demand: consumers may be attracted to products that have undesirable social consequences. E.g. Cigarettes are harmful to society but attract more and more consumers to use.

Front 5

What are the 4 marketing orientations?

Back 5

1. Product
2. Production
3. Selling
4. Marketing

Front 6

What are the four factors influencing marketing strategy? The four P's

Back 6

1. Product - features, quality, packaging, brand name, etc.
2. Price - retail price, discounts, etc.
3. Place - where it is distributed
4. Promotion - advertising, publicity

Front 7

What is marketing mix strategy?

Back 7

1. Offering Mix: Company and Products, Services and Prices.
2. Communications Mix: Advertizing, Sales Promotion, Events and experiences, Public Relations, Direct Marketing, Personal Selling.

Front 8

What made the marketplace change?

Back 8

1. Changing tehnology
2. Globalization
3. Deregulation
4. Privatizaiton
5. Empowerment
6. Customization

Front 9

What are the core concepts of marketing?

Back 9

1. Needs, wants and demands
2. Segmenting, Targeting, Positioning (STP-Marketing)
3. Values and Cost
4. Percieved value, expectations and satisfaction
5. Marketing Channels
6. Supply chain
7. Competition
8. Marketing Enviroment

Front 10

What are the Major decisions in international marketing?

Back 10

1. Deciding whether to go
2. Deciding which markets to enter?
3. Deciding how to enter?
4. Deciding on the marketing program
5. Deciding on the marketing organization

Front 11

What are the four stages of internalization?

Back 11

1. No regular export activities
2. Export via independant agents
3. Established sales subsidiaries
4. Establish production facilities abroad

Front 12

What are the five modes of entry into foreign markets?

Back 12

1. Indirect exporting
2. Direct exporting
3. Liscensing
4. Joint ventures
5. Direct investments

Front 13

What are the four direct exporting methods?

Back 13

1. Domestic-based export department
2. Overseas sales branch of subsidiary
3. Traveling export sales representatives
4. Foreign-based distributors and agenst

Front 14

What are the advantages of global marketing?

Back 14

1. Economies of scale
2. Lower marketing costs
3. Power and scope
4. Consistency in brand image
5. Ability to leverage
6. Uniformity of marketing practices

Front 15

What are the disadvantages of global marketing?

Back 15

1. Differences in consumer needs, wants and usage patterns
2. Differences in consumer response to marketing mix
3. Differences in brand development processes
4. Differences in enviroment

Front 16

What are the 4 cultural dimensions?

Back 16

1. Individualism vs. Collectivism
2. High vs. Low Power distance
3. Masculine vs. feminine
4. Weak vs. Strong uncertainty avoidance

Front 17

What are international products and Communication Strategies?

Back 17

1. Product:
Do not change: Change extensions
Adapt product: Product adaptation
Develop product: Product invention

2. Communication
Communication adaptation
Dual apatation
Product invention

Front 18

What are the Levels of Product Adaptation?

Back 18

1. Production of regional product versions
2. Production of country versions
3. Production of city versions
4. Production of retailer versions

Front 19

What are the price choices?

Back 19

1. Set uniform price everywhere
2. Set a market-based price in each country
3. Set a cost-based price in each country

Front 20

What organization strategies?

Back 20

1. World as a single market
2. Multinatiol
3. Glocal

Front 21

Is the world coming closer?

Back 21

1. People are becoming more and more closer
2. The differences between people of different cultures far outweigh their similarities