Term
| Statement outlining the organization's scope and goals |
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| level at which groups of specialists create value for organizations |
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| Mission Statement is created to identify what |
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Definition
Customers
Markets
Products
Tech
Value |
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| List all of the objectives of marketing |
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Definition
Profit
Sales
Market Share
Quality
Customer Satisfaction
Employee Welfare
Social Responsibility |
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| strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project |
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| set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition |
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| What are some sources of cost reduction |
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Definition
Experience Curves
Efficient Labor
No Frills Products
Government Subsidies
Product Design
Reegineering
Product Innovations
New Service Delivery Methods |
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Definition
| advantages achieved when a firm seeks to target and efficiently serve a small segment of the market |
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| List some of the sources of sustainable competitive advantages |
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Definition
Patents
Copyrights
Locations
Equipment
Tech
Customer Service
Promotion |
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| rules that people develop as a result of cultural values and norms |
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| Guidelines help marketing managers and other employees make better decisions |
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| systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility |
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| Steps in Creating Ethical Guidelines |
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Definition
Identify acceptable business practices
Control behavior internally
Avoid confusion in decision making
Facilitate discussion about right and wrong |
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Definition
| collection and interpretation of info about forces, events, and relationships in the external environment that may affect the future of the organization |
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| study of people's vital statistics such as age race ethnicity and location |
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| Generation X consists of what people |
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Definition
-Born Between 1965-1978
-40 million people
-savvy and cynical customers
-time is at a premium and outsourcing is utillized
entering moneymaking years |
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| common set of values shared by its citizens that determine what is socially acceptable |
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| if every company has a similar product, they would be practicing what type of competition |
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| few companies control the market |
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| If only one firm sells a product they are considered what |
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| Marketing that targets markets throughout the world |
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| The US exports ___ of its industrial |
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Term
| What are some of the benefits of globalization |
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Definition
-expands economic freedom
-May raise productivity and living standards
-Access to foreign capital, global market exports, and advanced tech |
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Term
| production of uniform products that can be sold the same way over the world |
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Definition
| global marketing standardization |
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Term
| tax levied on goods entering a country |
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| exclusion of products from a country |
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| agreement to stimulate trade |
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Definition
| North American Free Trade Agreement |
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Term
| petroleum, food, precious metal, timber, water are what |
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Definition
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Term
| What does scarcity create |
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Definition
-international dependencies
-shifts of wealth
-inflation and recession
-export opportunities if resources are abundant
-stimulus for military intervention |
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Term
| selling domestically produced products to buyers in other countries |
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Definition
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| domestic firms buy or joins a foreign company to create a new entity |
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| processes a consumer uses to make purchase decisions as well as to use and dispose of purchased goods or services |
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Definition
| economic, personal, and social significance of a purchase to a customer |
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| inner tension that a customer experiences after recognizing an inconsistency between behavior and values |
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| group of bands resulting from an info search from which a buyer can choose |
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Definition
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| Five aspects of the purchase situation that impacts a consumer's purchase decision process |
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Definition
-purchase task
-social surroundings
-physical surroundings
-temporal effects
-Antecedent States |
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Term
| enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct |
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Definition
| homogeneous group of people who share elements of the overall culture as well as share elements of their own group, important for targeting |
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| group of people in a society who are considered nearly equally in status or community esteem, and who regularly socialize among themselves and share behavioral norms |
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| way of organizing and grouping how an individual typically reacts |
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| individual who influences the opinions of others |
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| process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture |
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| driving force that causes a person to take action to satisfy needs |
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| how consumers see themselves in terms of attitude, perceptions, beliefs, and self evaluation |
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Definition
-Physiological
-Safety
-Social
-Esteem
-Self Actualization |
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| marketing of goods and services to individuals and organization for purposes other than personal consumption |
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Definition
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Term
| Three Aspects to Internet Stickiness |
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Definition
-Frequency of visits
-Duration of visits
-Number of pages viewed during a visit |
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Term
| organizations that buy goods and incorporate them into products that they produce for eventual sale to other producers or consumers |
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Definition
| Original Equipment Manufacturer |
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Definition
| demand for business products results from demand for consumer products |
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Term
| change in price will not significantly affect the demand for a product |
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| give up something to receive something else you want more |
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Definition
-Products
-Place
-Promotion
-Pricing |
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| Uncomfortable feeling caused by having opposing beliefs at the same time |
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| activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value |
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| people giving up something to receive something they would rather have |
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| market orientation focuses on the internal capabilities of the firm |
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Definition
| focuses on satisfying the customer's needs and wants while enhancing the individual and societal well being |
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Term
-Offer products that perform
-Earn Trust
-Avoid unrealistic pricing
-Offer products that perform
-Give the buyer facts
-Offer organization wide commitment in service and after sales support |
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| plan that integrates the marketing mix to provide a good, service, or idea, to prospective buyers |
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| strategy that focuses on keeping and improving relationships with current customers |
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| people who use the goods and services purchased for a household |
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| manufacturers, wholesalers, retailers, and gov agencies that buy goods and services for their own use or for resale |
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Term
-plays an important role in society
-vital to business survival
-offers career opportunities
-affects your everyday life |
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Definition
| Reasons to study marketing |
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Definition
| planning, organizing, and controlling the market program of a firm |
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| communications which the sponsor or company is identified |
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| written document that acts as a guidebook of marketing activities for the marketing manager |
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| managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities |
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