Mc Chapter 1

Front 1

exchange

Back 1

trade of something of value between two parties such as a product or service for money. The core phenomenon or domain for studying in marketing.

Front 2

marketing

Back 2

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

Front 3

value

Back 3

The customer's perception of all of the benefits of a product or service weighed against the costs of acquiring and consuming it.

Front 4

relationship marketing

Back 4

an organization's effort to develop a long term, cost effective link with individual customers for mutual benefit

Front 5

mass customization

Back 5

a process whereby a company makes a product or delivers a service in response to a particular customer's needs in a cost effective way.

Front 6

customer relationship management programs

Back 6

involve the systematic tracking of consumers' preferences and behaviors and modifying the product or service offer as much as possible to meet individual needs and wants.

Front 7

marketing mix

Back 7

the controllable elements of a marketing program including product, price, promotion, and place.

Front 8

integrated marketing communications (IMC)

Back 8

a strategic business process used to develop, execute, and evaluate coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates, and other targeted relevant external and internal audiences. THe goal is to generate both short term financial returns and build long term brand and shareholder value.

Front 9

promotion

Back 9

the coordination of all seller initiated efgforts to set up channels of information and persuasion to sell goods and services or to promote an idea.

Front 10

promotional mix

Back 10

the tools used to accomplsh and organization's communications objective. The promotional mix includes advertising, direct marketing, sales promotion, publicity/public relations, and personal selling.

Front 11

advertising

Back 11

any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor.

Front 12

direct marketing

Back 12

a system of marketing by which an organization communicates directly with customers to generate a response and/or transaction.

Front 13

direct-response advertising

Back 13

a form of avertising for a product or servce that elicits a sales response directly from the advertiser

Front 14

interactive media

Back 14

a variety of media that allows the consumer to interact with the source of the message, actively receiving information and altering images, responding to questions, and so on.

Front 15

sales promotion

Back 15

marketing activities that provide extra value or incentives to the sales force, distributors, or the ultimate consumers, and can stimulate immediate sales.

Front 16

publicity

Back 16

communications regarding an organization, product, service, or idea that is not directly paid for or run under identified sponsorship.

Front 17

public relations

Back 17

the management function that evaluates public attitudes, identifies the policies, and procefures of an individual or organization with the public interest, and executes a program to earn public understanding and acceptance.

Front 18

personal selling

Back 18

person-to-person communication in which the seller attempts to assist and/or persuade prospective buyers to purchase the company's product or service or to act on an idea.

Front 19

integrated marketing communications management

Back 19

the process of planning, executing, evaluating, and controlling the use of various promotional mix elements to effectively communicate with a target audience.

Front 20

integrated communications plan

Back 20

a document that provides the framework for developing, implementing, and controlling an organization's integrated marketing communications program.

Front 21

marketing plan

Back 21

a written document that describes the overall marketing strategy and programs developed for an organization, a particular product line, or a brand.

Front 22

internal analysis

Back 22

the phase of the promotional planning process that focuses on the product/service offering and the firm itself including the capabilities of the firm and its ability to develop and implement a successful integrated marketing communications program.

Front 23

external analysis

Back 23

the phase of the promotional planning process that focuses on such factors as the characteristics of an organization's customers, market segments, positioning strategies, competitors, and marketing environment.

Front 24

marketing objectives

Back 24

goals to be accomplished by an organization's overall marketing program such as sales, market share, or profitability.

Front 25

communication objectives

Back 25

goals that an organization seeks to achieve through its promotional program in terms of communication effects such as creating awareness, knowledge, image, attitudes, preferences, or purchase intentions.