Exchange

Production orientation

Sales orientation

Marketing concept-

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

- 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

- the relationship between benefits and the sacrifice necessary to obtain those benefits

Customer satisfaction

 a strategy that focuses on keeping and improving relationships with current customers

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

 collaborative efforts of people to accomplish common objectives

- the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition

 being the low-cost competitor in an industry while maintaining satisfactory profit margins

- in the portfolio matrix, a business unit that usually generates more cash than it needs to maintain its market share

 provides the mechanisms for evaluating marketing results in light of the plan’s objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

- in the portfolio matrix, a business unit that has low growth potential and a small market share

 a strategy of increasing sales by introducing new products into new markets

- collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization of the implementation of the marketing plan.

- curves that show costs declining at a predictable rate as experience with a product increases.

- gauging the extent to which the marketing objectives have been achieved during the specified time period

- product, place, promotion, and price, which together make up the marketing mix

- the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes that plan’s objectives

 the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets

 the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in these market segments

- a unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market

- a thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization

 a marketing strategy that tries to increase market share among existing customers

- a marketing strategy that entails attracting new customers to existing products

- designing activities relating to marketing objectives and the changing marketing environment

- a written document that acts as a guidebook of marketing activities for the marketing manager

 Tool for allocating resources among strategic business units on the basis of market attractiveness and firm’s positioning.

- 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 environmental conditions

- defining a business in terms of goods and services rather than in terms of the benefits that customers seek

- a statement of what is to be accomplished through marketing activities

- the advantage achieved when a firm seeks to target and effectively serve a small segment of the market

 in the portfolio matrix, a business unit that shows rapid growth but poor profit margins

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

- a marketing strategy that entails the creation of new products for current customers

- a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate

- the provision of something that is unique and valuable to buyers beyond simply offering a lower price than the competition’s

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

 a subgroup of a single business or a collection of related businesses within the larger organization

- Identifying internal strengths (s) and weaknesses (w) and also exam external opportunities (o) and threats (T).

- an advantage that cannot be copied by the competition

 in the portfolio matrix, a business unit that is fast-growing market leader

- an attempt to develop new or improved products

- pure research that aims to confirm an existing theory or to learn more about a concept of phenomenon

- people born between 1946 and 1964

-business’s concern for society’s welfare

- a guideline to help marketing managers and other employees make better decisions

- the practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single traditional lifestyle

 a federal agency established to protect the health and safety of consumers in and around their homes

- the study of people’s vital statistics, such as their age, race and ethnicity, and location

 the moral principles or values that generally govern the conduct of an individual

- when a company implements strategies that attempt to shape the external environment within which it operates

 a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce.

a federal agency charged with enforcing regulations against selling and distributing adulterated misbranded, or hazardous food and drug products

- people born between 1979 and 1994

 people born between 1965-1978

- a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year

- the rules people develop as a result of cultural values and norms

- when all major ethnic groups in an area-such as a city, county, or census tract-are roughly equally represented

- a model that suggests corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that the firm’s economic performance supports the entire structure.

- a comparison of income versus the relative cost of a set standard of goods and services in different geographic areas

- a period of economic activity characterized by negative growth, which reduces demand for goods and services

 the idea that socially responsible companies will outperform their peers by focusing on the world’s social problems and viewing them as opportunities to build profits and help the world at the same time

- a defined group most likely to buy a firm’s product

- an intermediary in the global market that assumes all ownership risks and sells globally for its own account

- a form of trade in which all of part of the payment for goods or services is in the form of other goods or services

- using more capital than labor in the production process.

 a trade agreement, instituted in 2005, that includes Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and the United States

- private label manufacturing by a foreign company

- the sale of an exported product at a price lower than that charged for the same or a like product in the “home” market of the exporter

 active ownership of a foreign company or of overseas manufacturing or marketing facilities

- a free trade zone encompassing 25 European countries

- selling domestically produced products to buyers in another country

- an intermediary who plays the traditional broker’s role by bringing buyer and seller together

- an intermediary who acts like a manufacturer’s agent for the exporter. The export agent lives in the foreign market

- prices of different currencies move up and down based on the demand for and the supply of each currency

- marketing that targets markets throughout the world.

- recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets

- production of uniform products that can be sold the same way all over the world

a trade agreement that contained loopholes that enabled countries to avoid trade-barrier reduction agreements

 an international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation

- when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity

- the legal process whereby a licensor agrees to let another firm use its manufacturing process, trade secrets, or other proprietary knowledge

 a company that is heavily engaged in international trade, beyond exporting and importing

- the largest Latin American trade agreement; includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay

an agreement between Canada, the United States, and Mexico that created the world’s largest free trade zone.

 an agreement to dramatically lower trade barriers worldwide; created the world trade organization

 a trade organization that replaced the old General Agreement on Tariffs and Trade (GATT)

 an international bank that offers low interest loans advice and information to developing nations