Term
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Definition
| The activity of creating, communicating, delivering, and exchanging offerings that benefit the organization, and stakeholders, and society at large |
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Term
| 4 Factors of Marketing to Occur |
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Definition
1) Two/more parties with unsatisfied needs
2) Desire and ability to satisfy these needs
3) A way for the parties to communicate
4) Something to exchange |
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Term
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Definition
Price
Product
Promotion
Place |
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Term
| Strategic Business Unit (SBU) |
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Definition
| Subsidiary division or unit of an organization that markets a set of related offerings to a clearly defined group of customers |
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Term
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Definition
| Road map for the marketing activities or an organization for a specified future time period, such as one or five years |
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Term
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Definition
| Unique strength relative to competitors that provides superior bases on quality, time,cost or innovation |
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Term
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Definition
| current products to current markets |
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Term
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Definition
| current products to new markets |
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Term
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Definition
| new products to current markets |
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Term
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Definition
| new products to current markets |
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Term
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Definition
| new products to new markets |
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Term
| Strategic Marketing Process |
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Definition
| an organization allocated its marketing mix resources to reach its target markets |
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Term
| 3 Phases of the Strategic Marketing Process |
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Definition
1) Planning
2) Implementation
3) Evaluation |
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Term
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Definition
Strengths
Weaknesses
Opportunities
Threats
where the firm or product has been recently, where it is now, and where it is headed |
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Term
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Definition
| Aggregating prospective buyers into groups, or segments, that 1) have common needs and 2) will respond similarly to a marketing action |
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Term
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Definition
| continually acquiring information on events occuring outside the organization to identify and interpret potential trends |
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Term
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Definition
| money that remains after paying for taxes and necessities |
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Term
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Definition
| many sellers similar producty |
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Term
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Definition
| many sellers with substitutable products |
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Term
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Definition
| few companies control majority of industry sales |
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Term
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Definition
| one firm sells the one product |
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Term
| Steps in the purchase decision process |
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Definition
1. Problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post purchase behavior |
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Term
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Definition
| previous experiences with brands or products |
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Term
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Definition
1. personal sources
2. public sources
3. market dominated |
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Term
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Definition
| the group of brands that a consumer wold consider acceptable |
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Term
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Definition
basic survival needs
water, oxygen, food |
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Term
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Definition
freedom from harm
financial security |
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Term
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Definition
| friendship, belonging, love |
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Term
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Definition
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Term
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Definition
self fulfillment
"be all you can be?" |
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Term
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Definition
| filtering of exposure, comprehension, and retention |
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Term
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Definition
| when peopel pay attention to messages that are consistent with their attitudes and beliefs |
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Term
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Definition
| interpreting information so that its consistent with your attitudes and beliefs |
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Term
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Definition
| consumers do not remember all the information they see, read, or hear even minutes after exposure |
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Term
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Definition
| favorable attitude toward a brand |
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Term
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Definition
| learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way |
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Term
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Definition
| consumers subjective perception of how a product or brand performs on different attributes |
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Term
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Definition
| people to whom an individual looks as a basis for self-appraisal or as a source of personal standards |
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Term
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Definition
| manufacturers, wholesales, retailers, and government agencies that buy goods and services for their own use or for resale |
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Term
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Definition
| wholesales and retailers that buy physical products and resell them again without any reprocessing |
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Term
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Definition
| the demand for industrial products and services is driven by, or derived from, demand for consumer products and services |
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Term
| organizational buying behavior |
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Definition
| decision process that organizations use to establish the need for products and services and identify, evaluate and choose among alternative brands and suppliers |
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Term
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Definition
| trying to find the frequency that something occurs or the extent between two factors |
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Term
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Definition
| facts and figures related to the problem |
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Term
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Definition
| facts and figures that have been already recorded before the project at hand |
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Term
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Definition
| facts and figures that are newly collected for the project |
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Term
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Definition
| include detailed sales breakdowns by the product line, by region, by consumers, and by sales representatives as well as consumer inquiries and complaints |
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Term
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Definition
data published outside the organization
(census) |
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