Term
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Definition
1. social environment
2. Economic Environment
3.Political/Legal Environment
4. Technological Environment
5. Competitive Environment
6. Institutional Environment |
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Term
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Definition
-those trends related to groups of people including their number characteristics, behavior, and growht projections.
Trends: Aging pop and Changing Family Structure |
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Term
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Definition
-Factors and trends related to how we live and behave.
Trends: cultural diversity and people keep characteristics of home country |
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Term
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Definition
-age, growth rate and distribution of population
Trends: Aging pop and changing family structure |
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Term
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Definition
-factors and trends related to income levels and goods and services.
Trends: slower growth in western europe and chinese growing middle class |
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Term
| Political/Legal Environment |
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Definition
-factotrs and trends related to governmental practice and specific laws and regulations that effect marketing,
Trends: War on Terror |
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Term
| Technological Environment |
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Definition
-development and trends that relate to new products.
Trends: microchips,nanotechnology, internet |
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Term
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Definition
-all organizations that attempt to serve customers.
Trends: Global competition and change in political landscape |
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Term
| Institutional Environment |
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Definition
-factors and trends related to al lorganiaztions involve din marketing products or services.
Trends: reengineering, outsourcing, empowerment, and consolidation |
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Term
| Cultural Environment Trends |
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Definition
| -multicultural marketing, changing roles, emphasis on health and fitness, desire for convenience, consumerism, environmentalism |
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Term
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Definition
| -the process of examining the internal and external factors which influence the firm's operations and decision making in order to identify market opportunities and threats. |
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Term
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Definition
1. Promote competition and prevent unfair advantage
2. Protect the consumer |
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Term
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Definition
| -different products that fix same need |
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Term
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Definition
| -same products but compete on brand names |
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Term
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Definition
| -Corporate Level, Business Level, and Functional Level |
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Term
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Definition
| -decides what happens on all levels |
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Term
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Definition
| -supports the corporate plan and figures out how to support it |
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Term
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Definition
| -supports other plans and how manager will execute those plans |
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Term
| The Strategic Planning Process |
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Definition
-1. Examine your current situation
2. Identifiy opportunities or threats
3. Set your objectives
4. Develop the strategies
5. Execute the plan |
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Term
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Definition
| -identify companies whose practices produce superior results and copy them |
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Term
| Typology of a Marketing Stratey |
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Definition
1. Pioneering Strategy
2. Fast Follower
3. Cost Leader
4. Customer Centric |
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Term
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Definition
| -what the business does best |
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Term
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Definition
| -the values of a business |
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Term
| Market Penetration Strategy |
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Definition
| -how to get same product to same customers |
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Term
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Definition
| -same product to different customers |
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Term
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Definition
| -same customers, new product |
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Term
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Definition
| -new product, new customers |
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Term
| International Entry Strategies |
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Definition
| -Joint Venture, Direct Investment, and Exporting |
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Term
| Consumer Decision Making Process |
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Definition
1. Need Recognition
2. Information Search
3. Evaluate Alternative
4. Purchase
5. Outcome |
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Term
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Definition
| -mind says no but behavior suggests yes |
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Term
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Definition
| -the percentage of customers who enter a store and are converted to buyers |
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Term
| High Involvement Decision |
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Definition
-highly relevant
-very important
-generally expensive and risky |
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Term
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Definition
-not relevant
-not important
-not expensive or risky |
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Term
| Unplanned (Affect Referral) |
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Definition
| -dont think about it because of a positive association from memory |
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Term
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Definition
| -bought immediately when seen and marketers can influence |
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Term
| 6 Principles of consumer Persuasion |
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Definition
1. Rule of Reciprocity
2. Consistency
3. Social Validation
4. Linking
5. Authority
6. Scarcity |
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Term
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Definition
| -relatively homogeneous division in a society that contain people with similar values needs and lifestyles |
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Term
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Definition
| -process of absorbing ones culture |
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Term
| Childhood Consumer Socialization |
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Definition
| -process of learning to be a consumer. |
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Term
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Definition
| -broad groups of consumers within a society culutre having similar values which distinguish them from the rest of society |
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Term
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Definition
| -the steps familes go through over time |
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Term
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Definition
| -any outside influence on our purchase behavior |
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Term
Reference Groups
Informational Influence |
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Definition
| -someone has info that you need |
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Term
Reference Groups
Utilitarian Influence |
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Definition
| -(Normative Influence) comply with others expectations of us |
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Term
Reference Groups
Value Expressive INfluence |
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Definition
| -(Normative INfluence) try to comply with group because it expresses themselves |
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Term
Reference Groups
Social INfluence |
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Definition
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Term
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Definition
| -influential to other people because of his great knowledge of a certain area |
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Term
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Definition
-generalized opinion leader
-knows a lot about a lot of products |
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Term
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Definition
| -better than you thought you were getting |
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Term
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Definition
| -worse than you though you were getting |
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Term
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Definition
1. Voice Response
2. Private Response
3. Third Party Response |
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Term
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Definition
| -business acts as a buyer instead of an individual |
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Term
| Characteristics of Business as buyers |
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Definition
1. Few in # and geographically concentrated
2. Thorough Evaluation
3. Derived Demand from consumers
4. Demand for some products related to purchases of others
5. Complex, Expensive and bought in large quantities
6. long term relationships |
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Term
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Definition
| -finding a source outside of your company to build something for you |
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Term
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Definition
| -lots of decision makers, high cost, high risk |
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Term
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Definition
| -already committed; fewer decision makers, less risk but not same purchase |
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Term
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Definition
| -one decision maker and no risk |
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Term
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Definition
| -group of peopl ein a company that make buying decisions |
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Term
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Definition
-initiator
-influencer
-gate keeper
-decision maker
-purchaser
-user |
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Term
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Definition
| -books come out with all government bid winners and bids |
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Term
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Definition
| -ethics vary from place to place |
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Term
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Definition
| -an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing workers relationship in ways that benift the organization and its stockholders |
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Term
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Definition
| -written stat that states corporate philosophy |
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Term
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Definition
| -exists when organization wmphoasizes the production function (Henry Feo) |
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Term
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Definition
-predominates where the selling function is most valued
-values sales people |
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Term
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Definition
| -suggest the company tries to satisfy the needs of the customer |
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Term
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Definition
1. An organizations basic purpose is to satisfy the needs of the customer
2. integrated effort throughout the organization
3. Organization should focus on long term _______ |
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Term
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Definition
| -the financial value of a firms customer relationships |
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Term
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Definition
-what a customer gets for a what a customer gives
-value is determined by the customer |
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Term
| Customer Relationship Management |
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Definition
| -select and manage the most valuable customers |
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Term
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Definition
| -transfer of something tangible or intangible, actual or symbolic between individuals |
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Term
Market Strategy
Target Market |
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Definition
| -defined group of consumers |
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Term
Market Strategy:
Marketing Mix |
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Definition
| -overall mix of marketing offer to appeal to target market |
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Term
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Definition
| -group of people with common problems or need with money to spend and the authority to spend that money |
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Term
Market Strategy:
Key Marketing Perspectives |
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Definition
| -global, relationships, ethical, customer value, productivity, technology, and entrepreneurship |
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Term
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Definition
product
price
place
promotion |
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