Term
| Marketing Management Process |
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Definition
1. planning marketing activities
2. directing the implementation of the plans
3. controlling these plans
(Keys: planning, implementation, control) |
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Term
| Strategic management planning |
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Definition
| the managerial process of developing and maintaining a match between an orgainzation's resources and its market opportunities |
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Term
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Definition
specifies a target maket and a related marketing mix.
-target market: a fairly homogenous group of customers to whom a company wishes to appeal
-marketing mix- the controllable variables the company puts together to satisfy this target group |
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Definition
| the typical production oriented approach; vaugely aims at everyone |
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Term
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Definition
| Product Place Price and Promotion |
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Definition
| any series of firms that participate in the flowe of products from producer to final user or consumer |
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Definition
| direct spoken communication between sellers and potential customers |
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Term
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Definition
| a personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase-is often the key to building repeat business |
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Definition
| communicating with large numbers of customers at the same time. Main form is advertising, followed by publicity |
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Definition
| any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor |
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Definition
| any unpaid form of nonpersonal presnetation of ideas, goods, or services |
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Definition
| refers to those promotion activities-other than advertising publicity and personal selling that stimulate interest, trial or purchase by final customers or others in the channel |
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Term
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Definition
written statement of a marketing strategy and the time-related details for carrying out the strategy
Should include
1. What makreting mix will be offered
2. what company resources will be needed and at what rate
what results are expected |
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Term
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Definition
| putting marketing plans into operation |
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Definition
| short-run decisions to help implement strategies |
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Definition
| bblends all of the firm's marketing plans into one big plan, which becomes the responsibility of the whole company |
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Definition
| the expected profitability of a firm's current and prospecitve customers over some period of time |
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Term
| breakthrough opportunites |
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Definition
| opportunites that help innovators develop hard to copy marketing strategies that will be very profitable for a long time |
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Term
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Definition
| the makreting mix is distinct from and better than what is availiable from a competitior |
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Term
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Definition
| Identifies and lists the firm's strenghts and weaknesses and its opportunities and threats; helps the manager focus on a strategy that takes advantage of the firm's opportunities and strenghts while avoiding its weaknesses and threats to its success |
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Term
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Definition
| an attempt to increase sales of a firm's present products in its present markets-probably through a more aggressive marketing mix |
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Definition
| an attempt to increase sales by selling present productggs in new markets |
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Definition
| offering new or improved products for present markets |
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Term
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Definition
| moving into totally different lines of business, such as unfamiliar products, markets, or even levels in the prodction-marketing system |
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