Term
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Definition
| is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large |
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Term
| The Four Marketing Management Philosophies |
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Definition
1. Production
2. Sales
3. Market
4. Societal |
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Term
| Societal Marketing Orientation |
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Definition
| exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s long-term best interests |
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Term
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Definition
| focusing on customer wants and needs to distinguish products from competitors’ offerings |
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Definition
| aggressive sales techniques and belief that high sales result in high profits |
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Term
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Definition
| internal capabilities of the firm, doesn’t consider if what is produced meets market needs |
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Term
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Definition
| the relationship between benefits and the sacrifice necessary to obtain those benefits |
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Term
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Definition
| the customers’ evaluation of a good or service in terms of whether that good or service has met their needs and expectations |
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Term
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Definition
| a strategy that focuses on keeping and improving relationships with customers |
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Term
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Definition
| Strength,Weaknesses,Opportunities, Threats |
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Term
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Definition
| a set of unique features of a company and its products that are perceived by the target market as significant & superior to the competition |
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Definition
| how much it takes the company to make the product |
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Term
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Definition
| the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities |
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Term
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Definition
| increasing your sales with current customers with existing products (loyalty programs,sales) |
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Term
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Definition
| attract new customers to existing products |
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Term
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Definition
| a marketing strategy that entails the creation of new products for present markets |
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Term
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Definition
| designing activities relating to marketing objectives and the changing marketing environment |
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Term
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Definition
| a written document that acts as a guidebook of marketing activities for the marketing manager |
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Term
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Definition
| a strategy of increasing sales by introducing new products into new markets |
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Term
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Definition
| Star,Cash Cow,Problem Child(Question Mark),Dog |
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Term
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Definition
| processes a consumer uses to make purchase decisions, as well as to use & dispose of purchased goods or services |
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Term
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Definition
| results of an imbalance between actual & desired states |
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Term
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Definition
| any unit of input affecting one or more of the five senses |
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Term
| Internal Information Search |
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Definition
| the process of recalling past information stored in memory |
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Term
| External Information Search |
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Definition
| the process of seeking information in the outside environment |
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Term
| Nonmarketing-controlled information Source |
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Definition
| a product information source that is not associated with advertising or promotion |
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Term
| Evoked Set(consideration set) |
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Definition
| a group of brands, resulting from which a buyer can choose |
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Term
| Consumer Decision Making Process |
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Definition
1.Need recognition
2.Information Search
3.Evaluation of alternatives
4.Purchase
5.Post Purchase Behavior |
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
| a subgroup of people or organization, sharing similar characteristics of needs or wants |
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Term
| Portfolio Matrix Strategies |
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Definition
| Build,Hold,Harvest,Divest |
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Term
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Definition
| a unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market |
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Term
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Definition
Product
Pricing
Promotion
Place |
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Term
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Definition
| when a company implements strategies that attempt to shape the external environment within which it operates |
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