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Quiz 1
marketing Handlin
41
Marketing
Undergraduate 2
09/17/2013

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Cards

Term
Marketing
Definition
the activity for creating and delivering offerings that benefit the org. its stakeholders and society
Term
Exchange
Definition
the trade of things of value between a buyer and a seller so that each is better off
Term
market
Definition
people with the desire and the ability to buy a specific offering
Term
target market
Definition
1 or more specific groups of potential consumers toward which an organization directs its marketing program
Term
Marketing Mix the 4 Ps
Definition
product, price, promotion, place that the marketing manager can use to solve a marketing problem
Term
customer value proposition
Definition
a cluster of benefits that an org. promises its customers to satisfy there needs
Term
enviormental forces
Definition
the uncontrolable social, economic, technological, competitive and regulatory forces that affect the results of a marketing decision
Term
Customer value
Definition
buyers benefits including quality, convenience, on-time delivery and before and after sale service at a specific price
Term
relationship marketing
Definition
limking the org. to its individual customers, employees, suppliers, and other partners for their mutual longterm benefit
Term
marketing program
Definition
a plan that integrates the marketing mix to provide a good, service or idea to perspective buyers
Term
marketing concept
Definition
the idea that an org. should strive to satisfy the needs of consumers while also trying to achieve the orgs. goals
Term
market orientation
Definition
focusing organzational efforts to collect and use info about customers needs to create customer value
Term
societal marketing concept
Definition
the view that orgs. should satisfy the needs of consumers in a way that also provides for societys well being
Term
product
Definition
a good service or idea consisting of a bundle of tangible and intangible attributes that satisfies consumer needs and is recieved in exchange for money or something else of value
Term
ultimate consumers
Definition
the people who use the products and services purchased for a household
Term
organizational buyers
Definition
manufacturers, wholesalers, retailers and government agencies that buy products and services for their own use or for resale
Term
utility
Definition
the benefits or customer value recieved by users of the product
Term
organization
Definition
legal entity that consists of people who share a common mission
Term
profit
Definition
the reward to a business firm for the risk it undertakes in marketing its offerings
Term
strategy
Definition
an orgs. long term course of action that delivers a unique customer experience while achieving its goals
Term
Strategic business unit SBU
Definition
a subsidiary, division, or unit of an organization that markets a set of related offerings to clearly defined group of customers
Term
business firm
Definition
privately owned organization
Term
core values
Definition
the fundamental, passionate, and enduring principles that guide an organization
Term
mission
Definition
a statement or vision of an orgs. function in society
Term
organizational culture
Definition
the set of values, ideas, attitudes and behavioral norms that is learned and shared among the members of an org.
Term
business
Definition
the underlying industry or market sector of an orgs. offering
Term
goals (objectives)
Definition
targets of performance to be achieved often by a specific time
Term
market share
Definition
ratio of a firms sales to the total sales of all firms in the industry
Term
marketing dashboard
Definition
the visual computer display of essential marketing information
Term
marketing metric
Definition
a measure of the value or trend of a marketing activity or result
Term
marketing plan
Definition
a road map for the marketing activities of an organization for a specified future time period
Term
competencies
Definition
companys special capabilities
Term
business portfolio analysis
Definition
a technique that managers use to quantify performance measures and growth targets of their firms strategis business units
Term
diversification analysis
Definition
a technique a firm uses to search for growth oppurtunities from among current and new products and markets
Term
strategic marketing process
Definition
an approach where by an org. allocates its marketing mix resources to reach its target markets
Term
situation analysis
Definition
taking stock of where a firm or product has been recently, where it is now, and where its headed
Term
SWOT analysis
Definition
an acronym desribing an orgs. appraisal of its internal strengths and weakness's and its external oppurtunities and threats
Term
market segmentation
Definition
the sorting of potential buyers into groups that have common needs and will respond similarly to a marketing action
Term
points of difference
Definition
those characteristics of a product that make it superior to competitive substitutes
Term
marketing strategy
Definition
the means by which a marketing goal is to be achieved
Term
marketing tactics
Definition
detailed day to day operational decisions essential to the overall success of marketing strategies
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