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Definition
| a collection of buyers and sellers |
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| a physical location where buyers and sellers meet to conduct transactions |
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| an electronic marketplace not bound by time or space |
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| a cluster of closely related goods and services that centers around a specific consumption activity |
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Definition
| a single access point where buyers can locate and contact many different sellers in the metamarket |
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Definition
| the process of obtaining something of value from someone by offering something in return; this usually involves obtaining products for money. there are five conditions of exchange |
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| there must be _____ parties to exchange |
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Definition
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| each party has something of ______ to the other party |
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Definition
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| each party must be capable of communication and delivery |
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Definition
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| each party must be free to accept or reject the exchange |
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Definition
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| each party believes that it is desirable to exchange with the other party |
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Definition
| something that can be acquired via exchange to satisfy a need or a want |
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Definition
| the ability of a product to satisfy a customer's needs and wants. The five place utility, possession utility, and psychology utility |
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Term
| Major marketing activities and decisions include |
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Definition
- strategic and tactical planning
- social responsibility and ethics
- research and analysis
- developing competitive advantages and a strategic focus for the marketing program
- implementing and controlling marketing activities
- marketing strategy decisions
- developing and maintaining long-term customer relationships
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Term
| marketing challenges and oppourtunities in the new economy include: |
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Definition
- a shift in power to customers caused by increased access to information
- a massive increase in product selection due to line extensions and global sourcing
- greater audience and media fragmentation as customers spend more time with interactive media and less time with traditional media
- changing customer perceptions of value and demand for greater convenience
- shifting demand patterns for certain product categories, especially those delivered electronically
- new sources of competitive advantage such as partnership and alliance
- new concerns over privacy, security, and ethics
- unclear legal jurisdiction, especially in global markets
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Term
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Definition
| to connect the organization to its customers |
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Term
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Definition
| defined as an organization function and a set of processes for creating, communicating, and delivering value to the customer and for managing customer relationships in ways that benefit the organization and its stakeholders |
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Term
| the marketing focus is now |
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Definition
| focused on value and customer relationships |
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Term
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Definition
| these companies prove that innovation and good marketing strategy are the antidotes for commodity hell |
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Term
| the power shift is going to the |
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Definition
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Term
| massive increase in product selection |
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Definition
| a variety of goods and services offered online |
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Term
| audience and media frangmentation |
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Definition
| easier to reach small, highly targeted audiences |
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Term
| Changing Value Propositions |
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Definition
- Speed and efficiency of commerce- tickets, banks, real estate, and car buying
- choosing the most convenient, low cost alternative
- increasingly difficult for marketers to differentiate their product offering
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Term
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Definition
digital distribution of music and video
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| new sources of competitive advantage |
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Definition
| dell networking with suppliers and UPS |
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| Privacy, security, and ethical concerns |
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Definition
| concerns about security and privacy |
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Term
| Unclear legal jurisdiction |
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Definition
- business more than one country- Google/China
- chinese intellectual property rights/ on-line sales tax
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