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| an organizational function and a collection of processes designed to plan for, create, communicate and deliver value to customers. |
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| is the satisfaction received from owning or consuming a product or service. In a marketing sense, is the value that consumers attach to that marketer's products or services. |
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| is the realization of benefits that are at parity or that exceed the cost of products, services, or other items. |
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| is a necessity to meet an urgent requirement. |
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| is a desire for something that is not essential. |
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| it is a promise. It can be represented by a name or a symbol and can be perceived positively, negatively, or ambiguously by consumers. |
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| What marketing is used for: |
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| an organizational philosophy dedicated to understanding and fulfilling consumer needs through the creation of value. |
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| Customer relationship management (CRM) |
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| compromises the activities that are used to establish, develop, and maintain customer sales. |
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| is a set of forces some controllable and some uncontrollable that influence the ability of a business to create value and attract and serve customers. |
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| within the organizational functions in the business such as marketing, and other activities. |
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| all activities that occur outside the organizational functions of a business. |
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| suppliers, buyers, competitors, customers (ex. Walmart-suppliers) |
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| broader sources (tech, econ., politics, legal) |
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| are activities performed within organizations that create value for specific products or services. |
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| promote/transfer of ownership |
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| distribution (where to be sold) |
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| anything that makes exchange/physical functions easier. |
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determines the overall goals of the business and the steps it will take to achieve them.
1. establish a mission
2. identify the vision
3. define objectives
4. develop a portfolio |
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4 main components:
1. marketing objectives
2. marketing audit
3. marketing strategies
4. allocating resources and monitoring |
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specific
measurable
achievable
relevant
time-bound |
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| is the comprehensive review and assessment of a business's marketing environment. |
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| is the process a business uses to evaluate the different combinations of products and services that the business offers based on its objectives. |
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market share
market growth
"cash cow"
"dogs"
question marks
"stars" |
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| is a group of consumers that a business determines to be the most viable for its products or services. |
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| is a group of marketing variables that a business controls with the intent of implementing a marketing strategy directed at a specific target market. |
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product
price
place
promotion |
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culture refers to the shared values, beliefs, and preferences of a particular society.
society refers to a community, nation, or group that shares common traditions, institutions, activities, and interests. |
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| is an organized movement of citizens, businesses, and government agencies to protect and improve our living environment. |
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| "your slice of the pie" units you sell to other units. |
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| the degree to which the market is growing. |
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| products or services w/high market share and low growth opportunities. |
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| products/services w/low relative market share in a low-growth sector. |
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| products/services w/low relative market market share in a sector of high growth. |
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| represent products/services w/high growth and high market shares. |
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