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53 Cards in this Set

  • Front
  • Back
process of creating, distributing, promoting and pricing goods, services and ideas to facilitate satisfying exchange relationships w/ customers in dynamic environment
purchasers of org's products; focal pt of all marketnig activities
target market
specific grp of customers on whom an org focuses its marketing efforts
marketing mix
four marketing activities: product, distribution, promotion and pricing that firm can control to meet needs of customers w/in its target market
goods, services, ideas that satisfy customer needs
ready, convenient and timely availability of products
activities that inform customers about org and its products
decisions and actions that est pricing objectives and policies and set product prices
provision or transfer of goods, services or ideas in return for something of value
customer's subjective assessment of benefits relative to costs in determining worht of product
customer value
customer benefit - customer costs
customer benefit
aynthing desired by customer that is received in exchange
customer costs
anything customer gives up in exchange for beneits
executive summary
synposis of entire marketing plan
SWOT analysis
assessment of organization's strengths, weaknesses opportunities and threats
environmental analysis
marketing environment
target market
current marketing objectives and performance
marketing objectives
statement of what is to be accomplished thru marketing activites that match trengths to opportunities and provide for conversation of weakness to strength
marketing strategies
description of how firm will achieve itsmarketing obj and manage its relationship w/ its customers to gain advantage over competition
competitve advantage
advantage over competitors gained by offering consumers greater value than competitors offer
environmental factors
legal and regulatory
primary data
data observed and recorded or collected directly from respondants
secondary data
data complied both inside and outside the org for some purpose other than current investigation
social arragenemtn that allows buyers and sellers to discover info and carry out volutnary exchange
segmentation variable
char of individual, grp or org used to divide market into segments
demographic variables
population characteristics (e.g. age, gender race)
psychographic variable
personality char
geographic variable
climate, terrain, cty size, population density, urban/rural areas
market density
# of potential customers w/in a unit of land area
market potential
total amt of product that consumer will purchase w/in specified period at specified level of industrywide marketing activity
company sales potential
max % of market potential that firm w/in an indutry can expect to obtain for certain product
breakdown approach
top-down analysis
build-up approach
bottom-up analysis
level of involvement
individual's intensity of interest in product and importance of product fot that person
influences on buying decision process
consumer product
product purchased to satisfy persona/family need
business product
product bought to use in organization's operations to resdell or to make other products
convenience product
frequently purchased
buyers exert minimal purchasing effort
shopping product
buyers are willing to expend considerable effort in planning and making purchase
speicality products
item w/ unique char that buyers are willing to expend considerable effort to obtain
unsought product
product purchased to solve sudden problem
product item
specific version of product
product line
grp of closely related product items viewed as unit b/c of marketing technical or end-use considerations
product mix
total grp of products that org makes avail to customers
width of product mix
# of product lines a co. offers
depth of product mix
avg # of different products in each product line
product life cycle
product adopters
early adopters
early majority
late majority
line extension
dev of product that is closely related to existing products inthe line but meets different customer needs
product modification
change in one or more char. of product and elimination of original product from product line
product modification methods
quality modification
level of quality
relative amt of quality a product possesses
consistency of quality
degree to which product has same lvl of quality overtime
value proposition
set of benefits offered by org to satisfy customers' needs, wants and demand