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| a philosophy, an attitude, a perspective, or a management orentation that stresses customer satisfaction. An organization function and a set of processes used to implement this philosophy. |
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a philosophy that focuses on the internal capabilities of the firm rather than on the desire and needs of the market place.
"field of dreams" |
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| based on the idea that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits |
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| states that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives. |
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| societal market orentation |
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states that organization exisits not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long term best interests.
ex recycable mat, less toxic |
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| the realationship between benefits and the sacrafice necessary to obtain those benefits. |
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| the customer evaluation of a good or service in terms of whether that good or service has met the customers needs and expectations. |
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| a strategy that focuses on keeping and improving relationships with current customers. |
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| plays an important role in society, important to buisness, carrer opp, affect everyday life. |
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| the managerial process of creating and maintaing a fit between the organizations objectives and resources and the evoloving market opps. |
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| the managerial process of creating and maintaing a fit between the organizations objectives and resources and the evoloving market opps. |
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| the managerial process of creating and maintaing a fit between the organizations objectives and resources and the evoloving market opps. |
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| goal of strategic planning |
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| long run profitability and growth |
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| involoves designing activitues relating to marketing obj and the changing marketing enviroment |
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| a written document that acts as a guidebook of marketing activities for the marketing mananger |
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statement of firms business based on a careful analysis of benefits sought by present and potential customers and analysis of existing and anticipating enviromental conditions.
answers:"what buisness are we in?" |
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| defining a business in terms of good and services rather than in terms of the benefits that customers seek. |
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| defining a business in terms of good and services rather than in terms of the benefits that customers seek. |
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| defining a business in terms of good and services rather than in terms of the benefits that customers seek. |
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| a subgroup of a single business or collection of realted businesses with in the larger organization |
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| statement of what is to be accomplished through marketing activities. |
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| criteria of marketing objectives |
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1. realistic, measurable and time specific
2. be consistent with and indicate the priorities of the organization |
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| identifying internal strengths (s) and weaknesses (w)and also examining external opportunities (o) and threats (t) |
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| collection and interpretation of info about forces, events, and relationships in the external enviroment that may affect the future organization or implementation of the marketing plan |
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| set of unique features of a company and its products that are percieved by the target market as significant and superior to the competition |
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| cost competitive advantage |
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| being the low-cost competitor in the industry while maintaining satisfactory profit margins |
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| curves that show costs declining at a predictable rate as expierence with a product increases. |
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| the provision of something that is unique and valuable to buyers beyond simply offering a lower price than the competitors. |
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| niche competitive advantage |
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| seeks to tarket and effectively serve a single segment of the market |
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| sustainable competitive advantage |
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| one that cannot be copied by the competition |
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| marketing strategy that tries to increase market share through existing customers |
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| attracting new customers to existing products |
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| entails the creation of new products for current customers. |
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| increasing sales by introducing new products into new markets |
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| a tool for allocating resources among products or strategic business unit on the basis of relative market share and market growth rate |
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| involves the activities of selecting and describing one or more target markets and developing and maintaing a marketing mix that will produce mutually satisfying exchanges with target market |
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| market opportunity analysis |
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| the description and estimation of the size and sales potential of market segments that are of interest to the firms and the assessment of key competitors in these market segments. |
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| refers to a unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market |
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| the process that turns a marketing plan into action assignments and ensures that these assignmemts are executed in a way that accomplishes the plans objectives. |
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| entails gauging the extent to which marketing objectives have been achieved during a specific time period. |
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| provides the mechanisms for evaluating marketing results in light of the plans objectives with in the budget |
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| a thorough, systematic, periodic evaluation of the objective, stratgies, structures and performance of the marketing organization. |
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| corporate social responibility |
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| businesses concern for social welfare |
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| the idea that socially responsibility company will outperform their peers by focusing on the worlds social problems and viewing them as opportunities to build profits and help the world at the same time |
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| a model that suggests corporate social resp. is composed of economic, legal, ethical, and philanthrphic responsibilities and that the firms economic performance supports the entire structure. |
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| the moral priniciples or values that generally govern the conduct of an individual or a group. |
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| rules people develop as a result of cultural values and norms |
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| guideline to help marketing managers and other employees make better decisions. |
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| a defined group most likely to buy a firms products |
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| when a company implements stratgies that attempt to shape the external enviroment with in which it operates. |
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| the practice of choosing goods and services that meet ones diverse needs and interests rather than conforming to a single traditional lifestyle |
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| the study of peoples vital statistics, such as their age, race, ethincity, and location |
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born between 1979-1994
college graduate to kids in tweens |
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born between 1946-1964
largest demographic segement of todays u.s. population |
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| occurs when all major ethnic groupd in an area are roughly equally represented |
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| a comparison of income verses the realtive cost of a set standards of good and services in different geographical areas |
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| a measure of the degree in the value of money, generally expressed as the percentage reduction in value since the previous year |
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| a period of economic activity characterized by neg growth, which reduces demand for goods and services |
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| attempts to expand the frontiers of knowledge but is not aimed at a specific, pragmatic problem. |
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| food and drug admin (FDA) |
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| a federal agency charged with enforcing regulations against selling and distributing misbranded, or hazerdous food and drug products. |
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| consumer -product safety comission |
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| a federal agency est. to protect the health and safety of consumers in and around their homes. |
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| a fed agency empowered to prevent persons or corporations from using unfair methods of competition in commerce. |
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