Shared Flashcard Set

Details

Marketing Final
Cumulative Final
11
Marketing
Undergraduate 3
12/09/2012

Additional Marketing Flashcards

 


 

Cards

Term
Marketing
Definition
- the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from a producer/consumer to a consumer/client
Term
Macro-marketing
Definition

 

social process that directs an economy's flow of goods and services from prodeucers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society; how the whole marketing system works, not just individual ones

 

Term
Universal functions of marketing
Definition
Buying, selling, transporting, storing standardizations, financing, risk taking and market information. Each one must be performed in all macro-marketing systems
Term
Marketing concept
Definition
- An organization aims all its efforts at satisfying its customers at a profit
-customer satisfaction
-a total company effort
-profit as an objective
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
Marketing strategy
Definition
specifies a target market and a related marketing mix
Term
Marketing plan
Definition
- a written statement of a marketing strategy and the time-related details for carrying out the strategy
Term
Differentiation
Definition
the marketing mix is distinct from and better than what is available from a competitor
Term
Product-market growth matrix
Definition
A marketing tool that outlines the different strategies a company can use in order to increase market share or introduce a new product. The strategy that a company uses depends on whether or not a company or product is already present in a market. The four main strategies are market penetration, product development, market development and diversification
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 new markets
Supporting users have an ad free experience!