Term
| Marketing Management Process |
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Definition
| The process of (1) planning marketing activities, (2) directing the implementation of the plan, & (3) controlling these plans. |
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Term
| Strategic (Management) Planning |
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Definition
| The managerial process of developing and maintaining a match between an organization's resources and its market opportunities. |
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Definition
| Specifies a target market and a related marketing mix. |
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Definition
| A fairly homogeneous group of customers to whom a company wishes to appeal. |
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| The controllable variables that the company puts together to satisfy a target group. |
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Definition
| A marketing mix is tailored to fit some specific target customers. |
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| The typical production-oriented approach that vaguely aims at everyone with the same marketing mix. |
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| Any series of firms or individuals who participate in the flow of products from producer to final user or consumer. |
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Definition
| Direct spoken communication between sellers and potential customers, usually in person but sometimes over the telephone or even via a video conference over the Internet. |
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| A personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase-is often the key to building repeat business. |
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| Communicating with large numbers of potential customers at the same time. |
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| Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor. |
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Definition
| Any unpaid form of nonpersonal presentation of ideas, goods, or services. |
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Definition
| Those promotion activities-other than advertising, publicity, and personal selling-that stimulate interest, trial, or purchase by final customers or others in the channel. |
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Definition
| A written statement of a marketing strategy and the time-related details for carrying out the strategy. |
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Definition
| Putting marketing plans into operation. |
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Definition
| Short-run decisions to help implement strategies. |
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Definition
| Blends all of the firm's marketing plans into one big plan. |
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Definition
| Total stream of purchases that a customer could contribute to the company over the length of the relationship. |
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Definition
| The expected earnings stream (profitability) of a firm's current and prospective customers over some period of time. |
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Term
| Breakthrough Opportunities |
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Definition
| Opportunities that help innovators develop hard-to-copy marketing strategies that will be very profitable for a long time. |
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Definition
| A firm has a marketing mix that the target market sees as better than a competitor's mix. |
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Definition
| Identifies and lists the firm's strengths and weaknesses and its opportunities and threats. |
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| The marketing mix is distinct from and better than what's available from a competitor. |
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Definition
| Trying to increase sales of a firm's present products in its present markets-probably through a more aggressive marketing mix. |
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Definition
| Trying to increase sales by selling present products in new markets. |
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Definition
| Offering new or improved products for present markets. |
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Definition
| Moving into totally different lines of business-perhaps entirely unfamiliar products, markets, or even levels in the production-marketing system. |
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