Term
| Marketing Strategy (p 33) |
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Definition
| Specifies a target market and a related marketing mix |
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| A fairly homogenous group of customers to whom a company wishes to appeal |
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| The controllable variables that the company puts together to satisfy a target group. |
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| A marketing mix is tailored to fit some specific target customers |
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| The typical production-oriented approach that vaguely aims at everyone with the same marketing mix |
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| 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 |
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| 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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| Communicating with large numbers of potential customers at the same time |
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| Any PAID form of nonpersonal presentation of ideas, goods, or services by an identified sponsor |
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| Any UNPAID form of nonpersonal presentation of ideas, goods, or services |
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| 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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| A firm has a marketing mix that the target market sees as better than a competitor's mix |
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| The marketing mix is distinct from and better than what's available from a competitor |
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| Identifies and lists the firm's strengths and weaknesses and its opportunities and threats |
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| Trying to increase sales of a firm's present products in its present markets-probably through a more aggressive marketing mix |
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| Trying to increase sales by selling present products in new markets |
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| Offering new or improved products for present markets |
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| Moving into totally different lines of business-perhaps entirely unfamiliar products, markets, or even levels in the production-marketing system |
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