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| Reward to a firm for the risk it takes in marketing its operation |
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| An organizations long term course of action that delivers a unique customer experience while achieving its goals |
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| Sorting potential buyers into groups that have common needs and will respond similialy toa marketing action |
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| The fundamental, passionate, and enduring principals that guide an orgainzation |
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| The visual display of essential marketing information |
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| The underlying industry ormarket sector ofan orgainizations offerings |
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| Ratio of firms sales to the total sales of all firms in the industry |
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| A statement or vision of an orgainzations function in society |
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| Those characteristics of a product that make it superior to competitive substitutes |
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| A measure of the value of trend of a marketing activity or result |
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| Orgainizations appraisal of its internal strengths and weaknesses and its external opportunities and threats |
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| Targets of performance to be achieved often by a specific period of time |
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| Set of values, ideas, attitudes, and behavioral norms that is learned and shared among members of an organization |
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| Taking stock of where a firm or product has been recently, where it is now, and where it is headed |
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| Means by which a marketing goal is to be achieved |
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| Detailed day-to-day operational essentials to the overall success of marketing straategies |
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| A road map for the marketing activities of an orgainzation for a specified future time period |
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| Strategic Marketing Process |
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Definition
| Approach whereby an orgaization allocated its marketing mix resourcesto reach its target markets |
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| Benefits orcustomer value received by users of the product |
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| Manufactures, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale |
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| People who use the goods and serviced purchased for a household |
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| View that organizations should satisfy the needs of consumers in a way that provides for society's well-being |
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| Focusing organizational efforts to collect and use information about customers needs to create customer value |
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| Idea that organizations should strive to satisfy the needs of consumers while also trying to achieve the organizations goals |
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| Plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers |
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| Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits |
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| Buyer's benefits including quality, conveniance, on-time delivery, and before and after sale service at a specific price |
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| Uncontrollable social, economic, technological competitive and regulatory forces |
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| The marketing managers controllable factors-product, price, promotion, and place--that can be used to solve a marketing problem |
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| Specific group of potential consumers toward which an organization directs its marketing program |
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| People with the desire and ability to buy a specific offering |
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| Trade of things of calue between buyer and seller so that each is better off |
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| Alternative to government control where an industry attempts to police itself |
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| A movement started to increase the influence, rights, and power of the consumer |
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| Restrictions state and federal laws place on business' |
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| Alternative firms that could provide a product to satisfy a specific markets needs |
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| Information and communication-based electronic exchange environment occupied by digitalized offerings |
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| Inventions from applied science or engineering research |
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| Income, expendatures, and resources that affect the cost of running a business or household |
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| Set of values, beliefs, attitudes, that are learned and shared among members of a group |
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| Marketing programs that reflect unique aspects of different races |
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| The 72 million americans born between 1977 and 1994 |
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| Membersof the US Population born between 1965 and 1976 |
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| Generation of children born between 1946 and 1964 |
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| Description of a population according to characteristics such as age, gender, ethnicity, income and occupation |
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| Demographic characteristics of the population and its values |
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| Process of acquiring on events outside the organization to identify and interpret potential trends |
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