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| marketing management process |
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Definition
| is the process of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans. |
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| strategic (management) planning |
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| the managerial process of developing and maintaining a match between an organization's resources and its market opportunities. |
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| specifies a target market and a related marketing mix. |
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| a fairly homogenous (similar) group of customers to whom a company wishes to appeal. |
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| the controllable variables the company puts together to satisfy this target group. |
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| says that a marketing mix is tailored to fit some specific target customers. |
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| the typical production orientation approach-- vaguely aims at "everyone" with the same marketing mix. |
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| any series of firms (or individuals) that participate in the flow of products from producer to final user or consumer. |
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| involves direct spoken communication between sellers and potential customers. |
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| 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 business. |
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| communicating with large numbers of customers at the same time. |
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| any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor. |
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| any unpaid form of nonpersonal presentation of ideas, goods, or services--includes getting favorable coverage in newspaper stories or on television as well and placing content on the web for customers to find or pass along to others. |
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| refers to those promotion activities--other than advertising, publicity, and personal selling.--that stimulate interest, trial, or purchase by final customers or others in the channel. |
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| a written statement of a marketing strategy and the time-related details for carrying out the strategy. |
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| putting marketing plans into operation. |
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| short-run decision to help implement strategies--may be needed. |
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| blends all the firm's marketing plan into "one" big plan. |
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| the expected earnings stream (profitability) of a firm's current and prospective customers over some period of time. |
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| breakthrough opportunities |
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| opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time. |
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| means that a firm has a marketing mix that the target market sees better than a competitor's mix. |
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| which identifies and lists the firm's strengths, weaknesses, opportunities, and threats. |
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| means that the marketing mix is distinct from and better than what is available from a competitor. |
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| means trying to increase sales by selling the products in new markets. |
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| means offering new or improved products for present markets. |
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| means moving into totally different lines of business--perhaps entirely unfamiliar products, or even levels in the production marketing system. |
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