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40 Cards in this Set
- Front
- Back
- 3rd side (hint)
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The idea that an organization should strive to satisfy consumer needs while trying to achieve it's goals |
Marketing Concept |
Marketing plan Customer relationship management Marketing concept Social responsibility
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Intergrates the marketing mix to provide a good srevice or idea to prospective buyers |
Marketing program |
Marketing plan Marketing Program Marketing conceptMarket value |
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The unique combination of benefits recieved by targered buyers at a specific price |
Customer value |
Customer relationshipCustomer value Customer marketing Customer selection |
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One or more specific groups of potential consumers toward which an organization directs its marketing program. |
Tatget market |
Market reasearch Market scouting Market value Target market Market options |
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Homogeneous groups of prospective buyers that have a common need and will respond similarly to a marketing action. |
Market segments |
Demographics Market segments Counsumer grouping Market Selectively |
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3 elements that make up marketing |
-Customer value -Customer relationships -Relationship marketing |
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Links the organization to individual customers, employees, suppliers, other partners for long term benefit. |
Relationship marketing |
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One or more specific groups of potential consumers toward which an organization directs its marketing program |
Target market |
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Cluster of benefits that an organization promises customers to satisfy their needs |
Customer value proposition |
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4 elements of Marketing mix |
Product Price Promotion Place |
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Uncontrollable forces that affect a marketing decision |
Environmental forces |
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5 environmental forces |
Social Economic Technological Competitive Regulatory |
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Focuses its efforts on continuously collecting information about customers needs sharing that information across departments and using it to create customer value. |
Market orientation |
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Process if identifying prospective buyers understanding them intimately and developing favorable long term perceptions of the organization and its its offerings so that buyers will choose them in the marketplace and become advocates after their purchase. |
CRM customer relationship marketing |
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The view that organizations should satisfy the needs of consumers in a way that provides for societies well being |
Social marketing concept |
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Exs of functional levels in an organization |
IT HR Finance R&D Marketing |
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The fundamental passionate and enduring principles that guide an organizations conduct over time |
Core values |
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A statement of the organization's function in society that often identifies its consumers markets products and technologies |
Mission |
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Set of values ideas attitudes and norms of behavior that is learned and shared among the members of an organization |
Organization culture |
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Describes the clear broad underlying industry or market sector of an organization's offerings |
Business |
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Measure of quantitative value or trend of a marketing action or result |
Marketing metric |
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SWOT |
Strengths Weaknesses Opportunity Threats |
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Day to day marketing actions for each element |
Marketing tactics |
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A road map for the marketing actions of an organization for a specified future time period |
Marketing plan |
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Read map for the entire organization for a specified time period |
Business plan |
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Continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
Environmental scanning |
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social forces
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Demographics Culture |
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Money for luxury goods |
Discretionary income |
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Money after taxes and necessities |
Disposable income |
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Many sellers eith similar products |
Pure competition |
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Few companies control majority of industry sales |
Oligopolies |
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Many sellers subsitutionable products within the price range |
Monopolistic competition |
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One organization sells product |
Pure monopoly |
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Moral principles and values that govern the actions and decisions of an individual or group |
Ethics |
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Consumer bill of rights |
Jfk Be informed Safety To choose Be heard |
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Profit and nonprofit partnership |
Cause marketing |
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Long term course of action allowing an organization to achieve its goals |
Marketing strategy |
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3 levels of strategy |
Corporate Strategic business unit Functional |
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Power and rights for consumers |
Consumerism |
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Makes it unlawful to discriminate in pricing |
Robinson patman act |
Equal pricing Fair price Robinson patman Clayton |
