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Managment Final
Marketing a Product or Service
24
Anatomy
1st Grade
12/03/2013

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Cards

Term
Focus on efficiency in production and distribution of goods and services
Definition
Production concept
Term
Focus on making good products and improving them over time
Definition
Product concept
Term
Actions directed at stimulating customers' interest through aggressive sales and promotion efforts (Advertising, discounts, high-pressure selling)
Definition
Selling concept
Term
Focus on identifying and responding to the needs of the purchaser (generates profit through the creation of customer value)
Definition
Marketing concept
Term
a state of perceived deprivation; basic human requirements
Definition
Need
Term
A desire for a specific satisfier of a deep need
Definition
Want
Term
A want that is backed up by an ability to pay
Definition
Demand
Term
A major part of the market dislikes or doesn't want a product, and may even pay to avoid it (health care is such a negative good)
Definition
Negative demand
Term
"look over in the 'GNC' second on Aisle 13A"
Definition
Production orientation
Term
"we have a couple of different products, the Certified Brand is more consistent in delivering the active ingredient"
Definition
Product orientation
Term
"That's a good start, but we also have found that this time of year many people benefit from increasing their exposure to artificial sunlight.. here's our Vitality Lamp"
Definition
Selling orientation
Term
"Tell me more about why you think you need St John's Wort"
Definition
Marketing orientation
Term
5 Ps of the Marketing Mix- variables that a company can control which may influence customer responses
Definition
Product, Price, Place, Promotion, Positioning
Term
The mix of goods and services provided by the pharmacy
Definition
Product
Term
Must be sufficient to cover costs and return a profit
Definition
Price
Term
Decision about place include both business location and means of distributing goods and services to the consumer
Definition
Place
Term
Activities seeking to Inform, Remind, and Persuade. Directed at a target market, designed to translate needs into wants and demands
Definition
Promotion
Term
Paid, non-personal promotion by a sponsor
Definition
Advertising
Term
short term incentives (coupons, samples, trials)
Definition
sale promotion
Term
nonpersonal information about a product or organization that is not paid for by the organization
Definition
Publicity
Term
sales presentations to individual customers; sales presentations to referral sources
Definition
Personal Selling
Term
approach for small businesses using low cost imaginative techniques, often resulting in free publicity to market the firm and its products
Definition
Guerilla marketing
Term
"the act of designing the company's offering and image to occupy a distinctive place in the mind of the target market"
Definition
Positioning
Term
a positioning statement that set forth: what benefit do you provide? for whom is it provided? how do you do it uniquely well? --- Informs shareholders, employees, suppliers, customers
Definition
Value Proposition
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