01 Boone & Kurtz Contemporary Marketing

Front 1

Name the four eras of marketing?

Back 1

Production
Sales
Marketing
Relationship

Front 2

Internet (or Net)

Back 2

Worldwide network of interconnected computers that lets anyone with access to a personal computer send and receive images and data anywhere.

Front 3

Examples of Ownership utility?

Back 3

Retail sales (in exchange for currency or credit card payment)

Front 4

person marketing

Back 4

Marketing efforts designed to cultivate the attention, interest, and preference of a target market toward a person (typically a political candidate or celebrity).

Front 5

marketing

Back 5

Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives.

Front 6

utility

Back 6

Want-satisfying power of a good or service.

Front 7

one-to-one marketing

Back 7

Customized marketing program designed to build long-term relationships with individual customers.

Front 8

Define the characteristics of not-for-profit marketing.

Back 8

- financial bottom line
- market either/both tangible goods and/or intangible services
- Market to multiple publics
- customers weild less control over company's destiny
- may possess monopoly power in a geographic area
- donor/resource contributor may attempt to influence marketing campaign and its' message

Front 9

Examples of Form utility?

Back 9

- J.P. Morgan Chase checking account
- Lincoln Navigator
- ramen noodles (nutrition for students who are hungry, broke, or can't/won't cook)

Front 10

How does an organization create a customer?

Back 10

- by identifying customer need
- knowing what needs the company can profitably serve
- convert potential buyers into customers

Front 11

Define Form utility?

Back 11

Conversion of raw materials and components into finished goods and devices

Front 12

consumer orientation

Back 12

Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them.

Front 13

relationship marketing

Back 13

Development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit.

Front 14

Production era

Back 14

A period prior to the 1920s in which business success was defined in terms of production victories.

Front 15

event marketing

Back 15

Marketing of sporting, cultural, and charitable activities to selected target markets.

Front 16

What is the major distinction between the sales era and the marketing era?

Back 16

Sales era focused on using advertising and personal selling to remove resistance to the purchase of non-essential goods and services. This era was focused first on product and sales, while the marketing era focused first on customer needs, and developing product around those needs.

Front 17

cause marketing

Back 17

Identification and marketing of a social issue, cause, or idea to selected target markets.

Front 18

place marketing

Back 18

Marketing efforts to attract people and organizations to a particular geographic area.

Front 19

interactive marketing

Back 19

Buyer/seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the Internet, CD-ROMs, interactive toll-free telephone numbers, and virtual reality kiosks.

Front 20

marketing myopia

Back 20

Management's failure to recognize the scope of its business.

Front 21

buyer's market

Back 21

Market in which there are more goods and services than people willing to buy them.

Front 22

Sales era

Back 22

A period prior to the 1950s which was defined by customers' resistance to the purchase of nonessential goods and services, and the use of personal selling and advertising to covince consumers to buy.

Front 23

Define Place utility?

Back 23

Availability of goods and services at convenient locations

Front 24

marketing concept

Back 24

Companywide consumer orientation with the objective of achieving long-run success.

Front 25

Examples of Place utility?

Back 25

- soft drink machines outside gas stations
- on-site day care
- banks in grocery stores

Front 26

Examples of marketing myopia?

Back 26

Cingular: "We are a telephone company" vs. "We are a communications company."

JetBlue Airways: "We are in the airline business" vs. "We are in the transportation business."

Morgan Stanley: "We are in the stock brokerage business" vs. "We are in the financial services industry."

Sony: "We are in the video game business" vs. "We are in the entertainment business."

Front 27

Examples of Time utility?

Back 27

- digital photographs
- LensCrafter eyeglass guarantee
- UPS next-day air

Front 28

Define Ownership utility?

Back 28

Ability to transfer title to goods or services from marketer to buyer

Front 29

World Wide Web (WWW or Web)

Back 29

Collection of resources on the Internet that offers easy access to text, graphics, sound, and other multimedia resources.

Front 30

organization marketing

Back 30

Marketing by mutual-benefit organizations, service organizations, and government organizations intended to influence others to accept their goals, receive their services, or contribute to them in some way.

Front 31

seller's market

Back 31

Market in which there are more buyers for fewer goods and services.

Front 32

Marketing era

Back 32

A period since the 1950s focused on satisfying customer needs.

Front 33

Relationship era

Back 33

A period beginning in the 1990s which focuses on establishing & maintaining relationships with both customers and suppliers and involving long-term, value-added relationships.

Front 34

strategic alliance

Back 34

Partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market.

Front 35

broadband technology

Back 35

Extremely high-speed, always-on Internet connection.

Front 36

lifetime value of a customer

Back 36

Revenues and intangible benefits that a customer brings to an organization over an average lifetime, minus the investment the firm has made to attract and keep the customer.

Front 37

exchange process

Back 37

Activity in which two or more parties give something of value to each other to satisfy perceived needs.

Front 38

Define Time utility?

Back 38

Availability of goods and services when consumers want them

Front 39

4 types of utility?

Back 39

Form
Time
Place
Ownership

Front 40

What are the 5 types of nontraditional marketing?

Back 40

Person marketing
Place marketing
Cause marketing
Event marketing
Organization marketing