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| The activity for creating and delivering offerings that benefit the organization, its stakeholders, and society |
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| The trade of things of value between buyer and seller so that each is better off |
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| People with both the desire and the ability to buy a specific offering |
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| One or more specific groups of potential consumers toward which an organization directs its marketing program |
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Product: Good/service/idea to satisfy consumer's needs
Price: What is exchanged for product
Promotion: A means of communication between buyer and seller
Place: A means of getting the product to the consumers |
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| The controllable factors-product, price, promotion and place-that the marketing manager can use to solve a marketing problem |
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| The uncontrollable social, economic, technological, competitive and regulatory forces that affect the results of a marketing decision |
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| Buyers' benefits, including quality, conveneince, on-time delivery, and before-and-after-sale service at a specific price |
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| Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit |
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| A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers |
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| The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals |
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| Focusing organizational efforts to collect and use information about customers' needs to create customer value |
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| Societal Marketing Concept |
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| The view that organizations should satisfy the needs of consumers in a way that also provides for society's well-being |
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| The reward to a business firm for the risk it undertakes in marketing its offerings |
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| An organization's long-term course of action that delivers a unique customer experience while achieving its goals |
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| The fundamental, passionate, and enduring principles that guide an organization |
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| A statement or vision of an organization's function in society |
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| The set of values, ideas, attitudes, and behavioral norms that is learned and shared among the members of an organization |
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| The underlying industry or market sector of an organization's offering |
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| Targets of performance to be achieved, often by a specific time |
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| Ratio of a firm's sales to the total sales of all firms in the industry |
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| The visual computer display of essential marketing information |
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| A measure of the value or trend of a marketing activity or result |
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| A road map for the marketing activities of an organization for a specified future time period |
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| Business Portfolio Analysis |
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| A technique that managers use to quantify performance measures and growth targets of their firms' strategic business units |
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| A technique a firm uses to search for growth opportunities from among current and new products and markets |
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| Strategic Marketing Process |
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| An approach whereby an organization allocates its marketing mix resources to reach its target markets |
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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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| An acronym describing an organization's appraisal of its internal strenghts and weaknesses and its external opportunites and threats |
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| The sorting of potential buyers into groups that have common needs and will respond similarly to a marketing action |
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| Those characteristics of a product that make it superior to competitive substitutes |
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| The means by which a marketing goal is to be achieved |
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| Detailed day-to-day operational decisions essential to the overall success of marketing strategies |
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| The process of acquiring information on events outside the organization to identify and interpret potential trends |
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| The demographic characteristics of the population and its values |
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| Description of a population according to characteristics such as age, gender, ethnicity, income, and occupation |
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| The generation of children born between 1946 and 1964 |
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| Members of the US population born between 1965 and 1976. Self-reliant, supportive of racial and ethnic diversity, better educated than any before |
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| The 72 million Americans born between 1977 and 1994 (Echo-boom or baby boomlet). Exerts influence on music, sports, computers, video games, friends/family |
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| Marketing programs that reflect unique aspects of different races |
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| The set of values, ideas, and attitudes that is learned and shared among the members of a group |
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| Pertains to the income and resources that affect the cost of running a business or household |
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| Total amount of money made in one year by a person, household, or family unit |
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| Money a consumer has left after paying taxes to use for necessities such as food, housing, cothing, and transportation |
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| The money that remains after paying for taxes and necessities |
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| Inventions from applied science or engineering research |
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| An information and communication based electronic exchange environment occupied by digitized offerings |
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| Alternative firms that could provide a product to satisfy a specific market's needs |
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| Restrictions that state and federal laws place on business |
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| A movement that started to increase the influence, power, and rights of consumers in dealing with institiutions |
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| An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors |
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| Require a buyer to purchase all or part of its needs for a product from one seller for a time period |
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| Exclusive Territorial Distributorships |
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| A manufacturer grants a distributor the sole rights to sell a product in a specific geographical area |
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| A seller requires the purchaser of one product to also buy another item in the line |
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| An alternative to government control, whereby an industry attempts to police itself |
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| The moral principles and values that govern the actions and decisions of an individual or a group |
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| Society's standards and values that are enforceable in the courts |
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| Codified the ethics of exchange between buyers and sellers, including rights to safety, to be informed, to choose, and to be heard |
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| A formal statement of ethical principles and rules of conduct |
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| A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome |
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| A personal moral philospy that focuses on the "greatest good for the greatest number" |
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| The idea that organizations are part of a larger society and are accountable to that society for their actions |
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| Marketing efforts to produce, promote, and reclaim environmentally sensitive products |
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| Tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products |
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| A systematic assessment of a firm's objectives, strategies, and performance in the domain of social responsibility |
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| The practice of making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology, or company practice |
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