Marketing Chap 1 2 3 7 8

Front 1

Marketing

Back 1

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

Front 2

exchange

Back 2

people giving up something to receive something they would rather have

Front 3

product orientation

Back 3

a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace
"what do we do best"

Front 4

Conditions of Exchange

Back 4

1. there must be at least 2 parties
2. each party has something that might be of value to the other party
3.each party is capable of communication and delivery
4. each party is free to accept and reject the exchange offer
5. each party believes it is appropriate or desirable to deal with the other party

Front 5

sales orientation

Back 5

the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits

Front 6

marketing concept

Back 6

the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives

Front 7

market orientation

Back 7

a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase product; it is synonymous with the marketing concept

Front 8

societal marketing orientation

Back 8

the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests

Front 9

customer value

Back 9

the relationship between benefits and the sacrifice necessary to obtain those benefits; customers value goods and services that are of the quality they expect and that are sold at prices they are willing to pay

Front 10

Marketers interested in customer value:

Back 10

1. offer products that perfrom
2. earn trust
3. avoid unrealistic pricing
4. give the buyer the facts
5. offer organization-wide commitment in services and after-sales support
6. co-creation

Front 11

customer satisfaction

Back 11

customer's evaluation of a good or service in terms of whether it has met their needs and expectations

Front 12

Relationship Marketing

Back 12

a strategy that focuses on keeping and improving relationships with current customers
1. customer oriented personnel
2. the role of training
3. empowerment
4. teamwork

Front 13

empowerment

Back 13

delegation of authority to solves customer's problems quickly-- usually by the first person that the customer notifies regarding a problem

Front 14

Marketing Management Philosophies

Back 14

1. production
2. societal marketing
3. market
4. sales

Front 15

strategic planning

Back 15

the managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities

Front 16

planning

Back 16

the process of anticipating future events and determining strategies to achieve organizational objectives in the future

Front 17

market planning

Back 17

designing activities relating to marketing objectives and the changing marketing environment

Front 18

mission statement

Back 18

a statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environment conditions