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30 Cards in this Set

  • Front
  • Back
Marketing
managing profitable customer relationships
needs
a state of felt deprivation including physical, social, and individual needs.
types of needs
physical, social, and individual
demands
given their wants and resources, people will demand products with benefits that add up to the greatest value and satisfaction
Marketing offering
some combination of products, services, or experiences offered to a market to satisfy a need or want.
products
anything that can be offered to a market to satisfy a need or want
services
activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything.
Marketing myopia
consumers look only at the products and not benefits and experiences (look only at wants and not needs)
Market
the set of actual potential buyers of a product.
Marketing management
the art and science of choosing target markets and building profitable relationships with them
5 key marketing management philosophies
production, product, selling, marekting, and societal marketing concepts
percieved value
the customers evaluation of he difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.
customer satisfaction
dependent on the product's percieved performance relative to a buyers expectations.
customer equity
the total combined customer lifetime values of all the company's customers
butterflies
high probability, short term customers, good fit between company's offerings and customers needs
Marketing environment
consists of actors and forces outside the organization that affect managements ability to build and maintain relationships with target customers
microenvironment
actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing, intermediaries, customer markets, competitors, and publics.
Companys internal environment
affects the marketing departments planning strategies and all depts must "think consumer" and work together to prive superior customer value and satisfaction.
suppliers
important link in the value delivery system, most marketers treat suppliers like partners, and use the supplier proposal guide
marketing intermediaries
help the company to promote, sell, and distribute its goods to final buyers- resellers, physical distribution firms, mktg service agencies, and financial intermediaries
publics
any group that has an interest in or impact on an organizations ability to achieve its objectives.
macroenvironment
the larger societal forces that affect the microenvironment- demographic, natural, technological, political, and cultural forces.
increased marketing effort towards:
gay and lesbian consumers, and people with disabilities
economic environment:
factors that affect consumer buying power and spending patterns
economic forces
change in income and income distribution
engels laws
difference noted over a century ago by enst engel in how people shift thier spending across food, houses, transportation, health care, and other goods and services categories as family income rises.
natural environment
involves natural resources that are needed as inputs by marketers or that are affected by marketing activities
core beliefs
come from parents, hard to change
secondary beliefs
more open to change
environmental management perspective
taking a proactive approach to managing the environment by taking agressive, rather than reactive, actions to affect the publics forces in the marketing environment