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Definition
| The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders,and society at large. |
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| Two or More Parties with Unsatisfied Needs |
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Definition
| Economic principal that is the first step in what is needed for marketing to occur |
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| Two or More Parties with Unsatisfied Needs |
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Definition
| Person A desires something, and person B desires to sell person A what he desires. |
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| Drawbacks of a product that may cause the product to be commercially unsuccessful. |
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| factors that might doom a product |
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| Pepsi Clear tasted like chemicals, thus it was discontinued due to lack of a market. This is an example of what? |
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| A collection of potential consumers. These consumers must have the desire AND ability to buy . |
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| One or more specific groups of potential consumers towards which an organization directs its marketing program. |
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| Commercials for Tosh.O are geared toward 18-35 year olds. 18-35 year olds are what in this example? |
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Definition
| Product, Price, Promotion, Place |
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| Product, Price, Promotion, Place |
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Definition
| What are the four P's of the marketing mix? |
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| Marketing Mix or Product, Price, Promotion, Place |
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Definition
| The marketing manager's controllable factors. |
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| Forces that are beyond the marketing managers control. |
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| A rise in the value of the Euro versus the dollar causes a decrease in trans atlantic flights. This is what kind of force to a travel marketer? |
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Definition
| The first stage of the evolution of market orientation. |
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Definition
| A time in US history when goods were scarce and people were willing to accept inferior goods. The market was orientated towards those who made things. |
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| A time US history when manufactures began to reach efficiency levels so that they could produce more goods than the market could consume. The market had re-oreintated to those who had the ability find buyers for producers. |
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| The second stage of the evolution of market orientation. |
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Definition
| Time when companies started adopting the idea that companies should both try to satisfy the needs of consumers and achieve organizational goals. |
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Definition
Market Orientation era that has two basic concepts
1. Strive to satisfy the needs of consumers.
2. Achieve organizational goals. |
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| Customer Relationship Era |
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Definition
| The market orientation stage we are currently in. |
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Term
| Customer Relation Managment |
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Definition
| the process of identifying prospective buyers, understanding them intimately, and developing favorable long term perceptions of the organization and its offerings so that buyers will choose them in the marketplace |
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Definition
| Marketing creates this. The benefits or value received by users of a product. |
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Term
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Definition
| Form, Place, Time, Possesion are the four types of_____? |
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| Form, Place, Time, Possession |
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Definition
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Term
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Definition
| product that has no product differentiation, low barriers to entry, and many sellers operates in a _____________. Agriculture is this. |
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| Many sellers with a similar product. |
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| Many sellers compete with substitutable products within a price range. |
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| Fast Food companies operate in ________________. Many sellers compete with substitutable products within a price range. |
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Definition
| A few companies control the majority of industry sales. |
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| Cell phone companies operate in this type of market. |
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Definition
| One company controls 100% of industry sales. |
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| A factor that prevents competition from entering an industry. |
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Definition
| Supplemented the Sherman Act to forbid actions that are likely to lessen competition although no actual harm has yet occurred. |
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Definition
| If I started a site called facebooks.com that had a blue backdrop and allowed users to make their own personal page for social networking. Mark Zuckerberg would probably cite what act when he is suing me. |
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Definition
| Provides for registration of a companies trademark. |
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| Trademark Law Revision Act |
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Definition
| Allows a company to secure rights to a name before actual use by declaring an intent to use the name. |
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Definition
| Treaty that protects US trademark rights through out the world. |
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| An image or slogan that is designed imitate an already existing trademarks. |
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| Exploring past experiences and personal opinions to make a purchase. |
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Definition
| Sally doesn't but Crest toothpaste because she had an allergic reaction when she used Crest previously. Sally has just done what. |
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Definition
| Looking for information of a product that is not part of the consumers past experience and knowledge. |
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Definition
| Reading the Consumer Reports review before buying a product is performing an ____________. |
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Term
| Problem Recognition, Information Search, Alternative Evaluation, Purchase decision, Post purchase behavior |
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Definition
| The five stages of the purchase decision process. |
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| Purchase decision stage that involves perceiving a need. |
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Definition
| Purchase decision stage of seeking value. |
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Definition
| Purchase decision stage of assessing value |
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Definition
| Purchase decision stage of buying value. |
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Definition
| Purchase decision stage: Value in consumption or use. |
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Term
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Definition
| objective and subjective attributes of a brand used to compare brands |
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Definition
| The group of brands that a consumer would consider acceptable from among all the brands oh which he is aware in the product class. |
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Definition
| I will only buy clothing made in America. All companies that make clothes in America would be in my ________________. |
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| The feeling of post purchase psychological tension or anxiety. |
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| Uses each of the five stages of the consumer decision process. |
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Definition
| Consumers seek some information or rely on a friend to help them evaluate alternatives. |
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Definition
| Spending little effort seeking external information and evaluating alternatives. |
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Term
| Maslow hierarchy of needs |
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Definition
| Physiological, Safety, social, personal, self actualization is the order of what? |
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Term
| Physiological, Safety, Social, Personal, Self-actualization. |
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Definition
| What 5 needs are in the Maslow hierarchy of needs? |
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Definition
| The way people see themselves and the way they believe others see them. |
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Definition
| seeing and hearing messages without being aware of them. |
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Definition
| Favorable attitude and consistent purchase of a certain brand of product over a long period of time. |
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Definition
System that identifies 8 consumer segments based on
1. their primary motivation for buying and having certain products and services.
2. their resources. |
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Definition
| Influencing people through conversation. |
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Definition
| The process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers. |
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| Network effect, economies of scale, high brand recognition, and favorable government contracts are all types of what? |
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Term
| Canada, Mexico, Japan, China |
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Definition
| What are the 4 largest importers of US goods? |
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