Term
|
Definition
| Want-satisfying power of a good or service |
|
|
Term
| The Four Types of Utility |
|
Definition
-
Form
-
Time
-
Place
-
Ownership (possession)
|
|
|
Term
|
Definition
| Coversion of raw materials and components into finished goods and services |
|
|
Term
|
Definition
| Availability of goods and services when consumers want them |
|
|
Term
|
Definition
| Availability of goods and services at covenient locations |
|
|
Term
| Ownership (possession) Utility |
|
Definition
| Ability to transfer title to goods or services from marketer to buyer |
|
|
Term
|
Definition
| Organizational function and a set of processes for creating, communicating, and delievering value to customers relationships in ways that benefit the organization and its stakeholders |
|
|
Term
|
Definition
| Activity in which two or more parties give something of value to each other to satisfy perceived needs |
|
|
Term
| The Four Eras of Marketing History |
|
Definition
-
Production Era
-
Sales Era
-
Marketing Era
-
Relationship Era
|
|
|
Term
| Production (Era) Orientation |
|
Definition
| Business philosophy stressing efficiency in producing a quality product, with the attitude toward marketing that "a good product will sell itself" |
|
|
Term
|
Definition
| Belief that consumers will resist purchasing nonessential good and services, with the attitude toward marketing that only creative advertising and personal selling can overcome consumers' resistance and persuade them to buy |
|
|
Term
|
Definition
| Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them |
|
|
Term
|
Definition
| Companywide consumer orientation with the objective of achieving long-run success |
|
|
Term
|
Definition
| Development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit |
|
|
Term
|
Definition
| Management's failure to recognize the scope of its business |
|
|
Term
| Five Types of Nontraditional Marketing |
|
Definition
-
Person Marketing
-
Place Marketing
-
Cause Marketing
-
Event Marketing
-
Organization Marketing
|
|
|
Term
|
Definition
| Marketing efforts designed to cultivate the attention, interest, and preferences of a target market toward a person (perhaps a political candidate or celebrity) |
|
|
Term
|
Definition
| Marketing efforts to attract people and organizations to a particular geographic area |
|
|
Term
|
Definition
| Identification and marketing of a social issue, cause, or idea to selected target markets |
|
|
Term
|
Definition
| Marketing of sporting, cultural, and charitable activities to selected target markets |
|
|
Term
|
Definition
| Marketing by mutual-benefit organizations, service organizations, and government organizations intended to persuade others to accept their goals, receive their services, or contribute to them in some way |
|
|
Term
| Transaction-based Marketing |
|
Definition
| Buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between the parties |
|
|
Term
|
Definition
| Marketing messages transmitted via wireless technology |
|
|
Term
|
Definition
| Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the internet and virtual reality kiosks |
|
|
Term
|
Definition
| The use of online social media as a communications channel for marketing messages |
|
|
Term
| The type of planning top, middle and supervisory management are involved in. |
|
Definition
Top = Strategic
Middle = Tactical
Supervisory = Operational |
|
|
Term
|
Definition
- product
- price
- promotion
- place
|
|
|
Term
| The 5 elements of the environmental framework which frame the 4 P's are? |
|
Definition
1) political/legal
2) competitive
3) social/cultural
4) economic
5) technological |
|
|
Term
|
Definition
| Word-of-mouth messages that bridge the gap between a company and its products |
|
|
Term
|
Definition
| Patnerships in which two or more companies combine resources and capital to create competitive advantages in a new market |
|
|
Term
| 8 Universal Marketing Functions |
|
Definition
-
Buying
-
Selling
-
Transporting
-
Storing
-
Standardizing and Grading
-
Risk Taking
-
Financing
-
Securing Marketing Information
|
|
|
Term
|
Definition
| Intermediaries that operate between producers and resellers |
|
|
Term
|
Definition
| Moral standards of behavior expected by a society |
|
|
Term
|
Definition
| Marketing philosophies, policies, procedures, and actions that have the enhancement of society's welfare as a primary objective |
|
|
Term
|
Definition
| Products that can be produced, used, and disposed of with minimal impact on the environment |
|
|
Term
|
Definition
| Implementing planning activities devoted to achieving marketing objectives |
|
|
Term
|
Definition
| Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives |
|
|
Term
|
Definition
| Planning that guides the implementation of activities specified in the strategic plan |
|
|
Term
|
Definition
| Overall, companywide program for selecting a particular target market and then satisfying consumers in that market through the marketing mix |
|
|
Term
|
Definition
| Model developed by strategy expert Michael Porter that identifies five competitive forces that influence planning strategies; the threat of new entrants, the bargaining power of suppliers, the threat of substitute products, and rivalry among competitors |
|
|
Term
|
Definition
| Blending of the four strategy elements- product, distribution, promotion, and pricing- to fit the needs and preferences of a specific target market |
|
|
Term
| Strategic Business Units (SBUs) |
|
Definition
| Key business units within diversified firms |
|
|
Term
|
Definition
| Interactive process that occurs in the marketplace among marketers of directly competitive products, marketers of products that can be substituted for one another, and marketers competing for the consumer's purchasing power |
|
|
Term
|
Definition
| Market structure in which a single seller dominates trade in a good or service for which buyers can find no close substitutes |
|
|
Term
|
Definition
| Laws designed to prevent restraints on trade such as business monopolies |
|
|
Term
|
Definition
| Market structure in which relatively few sellers compete and where high start-up costs form barriers to keep out new competitors |
|
|
Term
|
Definition
| Methods through which a firm deals with its competitive environment |
|
|
Term
|
Definition
| Strategy of developing and distributing goods and services more quickly than competitors |
|
|
Term
| Political-legal Environment |
|
Definition
| Component of the marketing environment consisting of laws and their interpretations that require firms to operate under competitive conditions and to protect consumer rights |
|
|
Term
| Gross Domestic Product (GDP) |
|
Definition
| Sum of all goods and services produced by a nation in a year |
|
|
Term
|
Definition
| Factors that influence consumer buying power and marketing strategies, including stage of the business cycle, inflation and deflation, unemployment, income, and resource availability |
|
|
Term
|
Definition
| Pattern of stages in the level of economic activity: prosperity, recession, depression, and recovery |
|
|
Term
|
Definition
| Rising prices caused by some combination of excess consumer demand and increases in the costs of one or more factors of production |
|
|
Term
|
Definition
| Proportion of people in the economy actively seeking work that do not have jobs |
|
|
Term
|
Definition
| Money available to spend after buying necessities such as food, clothing, and housing |
|
|
Term
|
Definition
| Process of reducing consumer demand for a good or service to a level that the firm can supply |
|
|
Term
| Technological Environment |
|
Definition
| Application to marketing of knowledge based on discoveries in science, inventions, and innovations |
|
|
Term
| Social-cultural Environment |
|
Definition
| Component of the marketing environment consisting of the relationship between the marketer, society, and culture |
|
|
Term
|
Definition
| Social force within the environment that aids and protects the consumer by exerting legal, moral, and economic pressures on business and government |
|
|
Term
|
Definition
List of legitimate consumer expectations suggested by JFK:
- The right to choose freely
- The right to be informed
- The right to be heard
- The right to be safe
|
|
|
Term
|
Definition
| Marketers' standards of conduct and moral values |
|
|
Term
| Ethical Questions in Marketing |
|
Definition
- Product (product warranties)
- Promotion (bribery)
- Distribution (dealer rights)
- Price (price increases)
|
|
|
Term
|
Definition
| Marketing philosophies, policies, procedures, and actions that have the enhancement of society's welfare as a primary objective |
|
|
Term
| The 4 Step Pyramid of Social Responsibilities |
|
Definition
- Philanthropic (be a good corporate citizen)
- Ethical (be ethical)
- Legal (obey the law)
- Economic (be profitable)
|
|
|
Term
|
Definition
| Production, promotion, and reclamation of environmentally sensitive products |
|
|
Term
|
Definition
| Strategic process of creating, distributing, promoting, and pricing goods and services to a target market over the internet or through digital tools |
|
|
Term
| Corporate Website vs Marketing Website |
|
Definition
Corporate: Site designed to increase a firm's visibility, promote it's offerings, and provide information to interested parties
Marketing: Site whose main purpose is to increase purchases by visitors |
|
|
Term
|
Definition
| Use of the internet for business transactions between organizations |
|
|
Term
|
Definition
| Use of the internet by organizations to solicit bids and purchase goods and services from suppliers |
|
|
Term
|
Definition
| Selling directly to consumers over the internet |
|
|
Term
|
Definition
| Software program that allows online shoppers to compare the price of a particular product offered by several online retailers |
|
|
Term
|
Definition
| The process of encoding data for security purposes |
|
|
Term
| Secure Sockets Layer (SSL) |
|
Definition
| Technology that secures a website by encrypting information and providing authentication |
|
|
Term
|
Definition
| Electronic identification that allows legal contracts such as home mortgages and insurance policies to be executed online |
|
|
Term
|
Definition
| Electronic barrier between a company's internal network and the internet that limits access into and out the network |
|
|
Term
|
Definition
| High-tech scam that uses authentic-looking email or popup messages to get unsuspecting victims to reveal personal information |
|
|
Term
|
Definition
| Scam that collects personal information through voice response systems |
|
|
Term
|
Definition
| Conflicts among manufacturers, wholesalers, and retailers |
|
|
Term
|
Definition
| Short for web log- an online journal for an individual or organization |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Online audio or video file that can be downloaded to other digital devices |
|
|
Term
|
Definition
| Strip message placed in high-visibility areas frequently visited web sites |
|
|
Term
|
Definition
| Seperate window that pops up with an advertising message |
|
|
Term
|
Definition
| Brief marketing message that appears before expected video content |
|
|
Term
|
Definition
| Tiny interactive applications that internet users can copy and add to their own pages and play music, video, or slide shows |
|
|
Term
|
Definition
| Paying search engines, such as Google, a fee to make sure the company's listing appears toward the top of the search results |
|
|
Term
|
Definition
| Percentage of people presented with a banner ad who click on it |
|
|
Term
|
Definition
| Percentage of visitors to a website who make a purchase |
|
|
