Shared Flashcard Set

Details

Ch. 1-2
Marketing Management
26
Marketing
Undergraduate 1
07/19/2008

Additional Marketing Flashcards

 


 

Cards

Term

Marketing    

 

Definition
Identifying and metting human and social needs
Term
Marketing Mangement
Definition
The art and science of choosing target markets and getting, keeping, and growing customer through creating, delivering and communicating superior customer value.
Term
Exchange
Definition
The core concept of marketing is the process of obtaining a desired product from someone by offering something in return.
Term
Transaction
Definition
A trade of values between  two or more parties involving at least two things of value, agreed-upon conditions, a time of agreement and a place of agreement.
Term
Transfer
Definition
party A gives something to party B but does not receive anything trangible in return.
Term
Marketing & Prospect
Definition
A MARKETER is someone who seeks a response from another party called the PROSPECT
Term
Holistic Market
Definition
based on the development, design and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Term
Relationship Marketing
Definition
The aim of building mutually satifsying long-term  relationships with key parties-customer, suppliers, distributors, and other marketing partners-in order to earn and retain their business.
Term
Intergrated marketing
Definition
the marketer's task is to devise marketing activities and assemble marketing programs that maximize the ability to create, communicate, and dealiver value for consumers.
Term
Marketing Network
Definition
consists of the company and its supporting stakeholders with whom it had built mutually profitable business relationships.
Term
Value Chain  
Definition
A tool for identifying ways to create more customer value.
Term
Value delivery network (Supply Chain)
Definition
Many companies today partner with specific suppliers and distributors to create a superior Value delivery network (Suppy Chain)
Term
Core Competency
Definition

Three Characteristics:

1. It is a source of competivive advantage in that it makes a significant contribution to perceived customer benefits

2. it has applications in a wide variety of markets.

3. it is difficult for competitors to imitate 

Term
Mission Statement
Definition
Share with managers, employees, and customers. A clear thoughtful mission statemeant provides  purpose, direction, and opportunity and guides geographically dispersed employees to work independently and collectively toward realizing the organizations' goal.
Term
Stategic business unit (SBU)
Definition

1. It is a single business or collection of related vusinesses that can be planned separately from the rest of the company

2. has its own set of competitors

3. has a manager responsible for strategic planning and profit performance who controls most of the factors affecting profit 

Term
Organization
Definition
Consists of its structures, policies, and corporate culture, all of which can become dysfunctional in a rapidly changing business enviroment
Term
Corporate culture
Definition
has been defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"
Term
Scenario Analysis
Definition
Developing plausible representations of a firm's possible future that make different aassumptions about forces driving the market and include different uncertainties
Term
Marketing Oppurtunity
Definition
Area of buyer need and interest in which there is a high probability that the company can profitably satisfy that need
Term
Market opportunity analysis MOA
Definition
to determine the attractiveness and success probability of each opportunith by asking five questions
Term
Enviromental threat
Definition
Challenge posed by an unfavorable external trend or development that would lead in the absence of defensive marketing action, to lower sales or profit.
Term
Goal Formulation
Definition
Once the company has performed a SWOT analysis, it can develop specific goals for the planning period in a process call goal formulaton
Term
Strategy
Definition
describes the game plan for achieving those goals
Term
Strategic group
Definition
Firms pursuing the same strategy directed to the same target market constitute a strategic group
Term
Partner Relationship Management, PRM
Definition
Corporations have begun deeloping organizationsal structures to support these alliances and have come to view the ability to form and manage partnerships as a core skill
Term
Marketing Plan
Definition
Is a written document that summarizes what the marketer has learned about the makretplace and how the firm plans to reach its makreting objectives
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