Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
32 Cards in this Set
- Front
- Back
|
Marketing (Kotlers Definition) |
A human activity directed at satisfying needs and wants through an exchange process |
|
|
Marketing (Textbook Definition) |
The performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer |
|
|
Marketing (Detailed definition) |
The anticipation, stimulation, regulation, and satisfaction of consumer and public's demand for products, services, organizations, events, people, places, and ideas through an exchange process |
|
|
The Anticipation part of consumer/public demand |
Marketing research |
|
|
The stimulation part of consumer/public demand |
Promotion strategies |
|
|
The Facilitation part of consumer and public demand |
Distribution strategies |
|
|
The regulation part of consumer/public demand |
Pricing strategies |
|
|
The satisfaction part of consumer/public demand |
product strategies |
|
|
Simple Trade Era |
(prior to 1869) People would exchange goods. Surplus was sold to a surplus store |
|
|
Production Era |
(1869-1930) Make things faster. wider variety. what you produce, you sell. Not many manufacturers |
|
|
Sales Era |
(1930-1960) Push products onto customers in any way, distrust in sellers |
|
|
Marketing Department Era |
(1950-1960) worked more on stimulating demand, marketing department seen as less important |
|
|
Marketing Company Era |
(1960-now) Focus is on satisfying the customer marketing seen as very important |
|
|
The Marketing Concept |
A consumer oriented, integrated, goal oriented philosophy |
|
|
Consumer orientation (the marketing concept) |
satisfy customer wants and needs |
|
|
Integration (the marketing concept) |
making marketing a group effort in a company |
|
|
Goal orientation (the marketing concept) |
Make money |
|
|
Marketing strategy |
target market + Marketing Mix |
|
|
Target Market |
A set of buyers sharing common needs or characteristics that a company decides to serve |
|
|
4 P's |
product price, place, promotion |
|
|
Marketing Plan |
A written statement of the marketing strategy and the time related details for carrying out the strategy |
|
|
S.W.O.T Analysis |
Identifies and lists your company's strengths, weaknesses, opportunities, and threats |
|
|
Differentiation is the key |
The marketing mix is different and better than the competition |
|
|
Market Penetration (marketing opportunities) |
current products, current markets |
|
|
Market development (marketing opportunities) |
current products, new market (Ex. McDonalds in an airport) |
|
|
Product Development (marketing opportunities) |
New products, current market |
|
|
Diversification (marketing opportunities) |
New products, new market |
|
|
Uncontrollable Marketing Factors: Economic Environment |
Inflation, unemployment, income, resource availibility |
|
|
Uncontrollable Marketing Factors: Political-Legan Environment |
Federal laws, State laws |
|
|
Uncontrollable Marketing Factors:
Technological Environment |
Constant research and development by companies, internet |
|
|
Uncontrollable Marketing Factors:
Competitive Environment |
Direct competition, indirect competition, general competition |
|
|
Uncontrollable Marketing Factors:
Cultural and Social Influences |
Consumer groups, Changing demographics, ethics |
