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MKG300 Davis Midterm Ch2
Chapter 2
18
Marketing
Undergraduate 3
10/10/2010

Additional Marketing Flashcards

 


 

Cards

Term
Marketing Strategy (p 33)
Definition
Specifies a target market and a related marketing mix
Term
Target Market
Definition
A fairly homogenous group of customers to whom a company wishes to appeal
Term
Marketing Mix
Definition
The controllable variables that the company puts together to satisfy a target group.
Term
Target Marketing
Definition
A marketing mix is tailored to fit some specific target customers
Term
Mass Marketing
Definition
The typical production-oriented approach that vaguely aims at everyone with the same marketing mix
Term
Personal Selling
Definition
Direct spoken communication between sellers and potential customers, usually in person but sometimes over the telephone or even via a video conference over the Internet
Term
Customer Service
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
Term
Mass Selling
Definition
Communicating with large numbers of potential customers at the same time
Term
Advertising
Definition
Any PAID form of nonpersonal presentation of ideas, goods, or services by an identified sponsor
Term
Publicity
Definition
Any UNPAID form of nonpersonal presentation of ideas, goods, or services
Term
Sales Promotion
Definition
Those promotion activities-other than advertising, publicity, and personal selling-that stimulate interest, trial, or purchase by final customers or others in the channel
Term
Competitive Advantage
Definition
A firm has a marketing mix that the target market sees as better than a competitor's mix
Term
Differentiation
Definition
The marketing mix is distinct from and better than what's available from a competitor
Term
SWOT Analysis
Definition
Identifies and lists the firm's strengths and weaknesses and its opportunities and threats
Term
Market Penetration
Definition
Trying to increase sales of a firm's present products in its present markets-probably through a more aggressive marketing mix
Term
Market Development
Definition
Trying to increase sales by selling present products in new markets
Term
Product Development
Definition
Offering new or improved products for present markets
Term
Diversification
Definition
Moving into totally different lines of business-perhaps entirely unfamiliar products, markets, or even levels in the production-marketing system
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