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25 Cards in this Set
- Front
- Back
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Marketing |
A social and managerial process by which individuals and groups obtained what they need and want through creating, offering and exchanging products of value with other. |
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Marketing Management |
The process of planning and executing the concepcion, pricing, promotion and distributing of ideas, goods, and services to create exchanges that satisfy individual organization goals. |
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Human need |
A state of deprivation of a basic satisfaction |
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Wants |
Desire for a specific satisfaction, continually shaped and reshaped by social forces. |
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Demands |
Refer to wants for specific products which are baked by purchasing power |
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Concept of exchange |
One of the core concepts of marketing |
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1) at least 2 parties2) each party has something which might be of value to the other3) communication and delivery 4) freedom to accept or reject the offer5) each believes that it is desirable to deal with the other party. |
5 concepts of exchange |
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Product |
Anything that can be offered to satisfy a need or a want |
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Goods Service Idea Individual Organization Information |
6 products |
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Marketer's job |
Sell the benefits or services built into physical product |
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Selling |
Focuses on the need of seller and to consent the product into that it is a push process |
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Market |
Consist of all the potential consumers sharing a particular need or want who might be willing and able to engage in order to satisfy a need or a want |
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Globalization TechnologyDeregulation |
Three developments brought by rapidly changing markets |
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Marketing |
Focuses on the buyer's need and the idea of satisfying the needs of consumer. It is a pull process. |
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Marketplace |
Physical place |
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Marketspace |
Digital |
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Relationship Marketing |
Aims to build long term mutually satisfying relations with key parties in order to retain their long term preference and business |
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Marketing network |
Ultimate outcome of relationship marketing that consist of the company and stakeholders. |
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The marketing Mix |
Lauterborn suggested that the sellers 4Ps must meet the buyer's 4 Cs |
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Product- Customer Selection Price- Customer Cost Place- Convenience Promotion - Communicating |
4Ps with 4Cs |
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Production Concept |
One of the oldest that holds that consumers prefer products that are widely available |
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Product Concept |
Holds that consumers favor products that offer most quality, performance and feature. |
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Selling Concept |
Consumers and business when left along will not buy enough products therefore the business must undertake aggressive selling and promotion. |
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Marketing concept |
Key to achieving company goals is to be more effective in creating, delivering and communicating customer value than competitors. |
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Societal Marketing concept |
Delivering customer value in a way that predecessor the well being of consumers and society |
