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CH 2
Troy University Phenix City Campus-Basic Marketing-17e
27
Marketing
Undergraduate 2
01/09/2010

Additional Marketing Flashcards

 


 

Cards

Term
Marketing Management Process
Definition
the process of (1) planning marketing activities, (2) directing the implementation of the plans, and (3)controlling these plans
Term
strategic (management) planning
Definition
the managerial process of developing and maintaining a match between an organization's resources and it market opportunities.
Term
marketing strategy
Definition
specifies a target market and a related marketing mix
Term
target market
Definition
a fairly honogeneous (smiliar) group of customers to whom a company wishes to appeal
Term
marketing mix
Definition
the controllable varibles the company puts together to satisfy this target group
Term
target marketing
Definition
a marketing mix is tailored to fit some specific target customers
Term
mass marketing
Definition
the typical production-oriented approach-vaguely aims at everyone with the same marketing mix
Term
channel of distribution
Definition
any series of firms (or individuals) that participate in the flow of products from producer to final user or consumer
Term
personal selling
Definition
direct spoken communication between sellers and potential customers
Term
customer service
Definition
a personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase-is often a key to building repeat customers
Term
mass selling
Definition
communicating with large numbers of customers at the same time
Term
advertising
Definition
any paid form of nonpersonal presentation of ideas, goods, or services by an indentified sponsor
Term
publicity
Definition
and unpaid form of nonpersonal presntation of ideas, goods, or services-another important form of mass selling
Term
sales promotion
Definition
refers to those promotion activies- other than advertising, publicity, and personal selling- that stimulate interest, trail, or purchase by final customer or others in a channel
Term
marketing plan
Definition
a written statement of a marketing strategy and the time-related details for carrying out the strategy
Term
implementation
Definition
putting marketing plans into operation
Term
operational decisions
Definition
short-run decisions to help implement strategies
Term
marketing program
Definition
blends all of the firm's marketing plans into one "big" plan
Term
customer equity
Definition
the expected earnings stream (profitability) of a firms's current and prospective customer over some period of time
Term
breakthrough opportunities
Definition
opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
Term
competitive advantage
Definition
a firm has a merketing mix that the target market sees as better than a competitors mix
Term
differentiation
Definition
the marketing mix is distinct from and better than what is available from a competitor
Term
S.W.O.T. analysis
Definition
identifies and lists the firm's strengths and weaknesses and its opportunities and threats
Term
market penetration
Definition
trying to increase sales of a firm's present products in its present markets
Term
market development
Definition
trying to increase sales by selling present products in a new market
Term
product development
Definition
offering new or improved products for present markets
Term
diversification
Definition
moving into totally different lines of business
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