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23 Cards in this Set
- Front
- Back
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Marketing
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the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society
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Marketing seeks to
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1. discover the needs and wants of customers
2. satisfy them |
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exchange
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the trade of things of value between buyer and seller so that each is better off after trade
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marketing program
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A PLAN THAT INTEGRATES THE MARKETING MIX TO PROVIDE A GOOD, SERVICE, or idea to prospective buyers
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environmental forces
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in a marketing decision the environmental forces are social, economic, technological, competitive, and regulatory
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the marketing concept
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the idea that an organization should
1. strive to satisfy the needs of consumers 2. while trying to achieve organizational goals |
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market orientation
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1. collecting information about customers
2. sharing this info across departments 3.using it to create customer value |
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customer relationship management
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the process of identifying prospective buyers, understanding them, and developing favorable long term perceptions of the organization
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societal marketing concept
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the view that organizations should satisfy the needs of customers in a way that provides for society's well being
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4 forms of Utility
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1. Form
2.Place 3. Time 4. possession |
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Strategy
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the organizations long term course of action designed to deliver a unique customer experience while achieving its goals.
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corporate level strategy
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where top management directs over-all strategy for the entire organization
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strategic business unit
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unit of an organization that markets a set of related offerings to a clearly defined group of customers
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functional levels
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groups of a specialists actually create value for the organization
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core values
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the fundamental, passionate, and enduring principles that guide conduct over time
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Mission
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a statement of the organizations function in society
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organizational culture
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the set of values, ideas, attitudes, and norms of behavior that is learned and shared among members of the organization
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market share
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ratio of sales revenue of the firm to the total sales revenue of all the firms in the industry
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an organizations business describe
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the clear, broad, underlying industry or market sector of an organizations offering.
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marketing dashboard
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the visual computer display of the essential information related to achieving a marketing objective
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marketing metric
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a measure of the quantitative value or trend of a marketing activity or result
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competitive advantage
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a unique strength relative to competitors that provides superior returns
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business portfolio analysis
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a technique that managers use to quantify performance measures and growth targets to analyze its clients strategic units.
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