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Definition
Product
Promotion
Place
Price |
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Term
| personal value equation of the customer |
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Definition
| Value=Benefits received – [Price + Hassle] |
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Definition
| the transportation and storage of materials and products are |
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| elements of the supply chain |
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Definition
| - number of organizations and functions that make, mine, assemble or deliver materials and products from manufacturer to customer |
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Definition
| the strategy for implementing the components of marketing: creating, communicating, delivering, and exchanging value. |
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Definition
| internal factor that is controllable, ex. a reputation for great service, strong financial position |
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Definition
| that is controllable, ex. a lack of awareness of its products in the marketplace |
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Definition
| trend analysis that bases its forecast method on the average rate of change of the past periods |
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Definition
| trend analysis that takes the more recent averages over the distant averages |
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Definition
| snapshot of the state of the company’s marketing strategies as they are actually implemented |
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Term
| Strategic Planning for the firm and for marketing |
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Definition
| - Process that helps an organization allocate its resources under different conditions to accomplish its objectives |
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Term
| Know what Green Marketing involves |
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Definition
| - Marketing environmentally safe products & services in a way that is good for the environment. Also saves company & consumer money. |
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Term
| Market penetration strategy |
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Definition
| selling more of existing products and services to existing customers |
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Term
| Product penetration strategy- |
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Definition
| creating new products or services for existing markets |
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Term
| Market development strategy- |
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Definition
| selling existing products or services to new customers; |
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Definition
| sell products to buyers in foreign markets |
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Term
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Definition
| sell the right to use some aspect of the production process, trademark, or patent to individuals |
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Term
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Definition
| granting an independent operator the right to use your company’s business model, techniques, and trademarks for a fee; |
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Term
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Definition
| when companies hire manufacturers to produce their products in another country; |
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Term
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Definition
| owning a company or facility overseas; involves the most risk but offers the most control. |
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Term
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Definition
| Entering new markets with new products or doing something outside a firms current business |
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Term
| the Boston Consulting Group matrix |
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Definition
| Examines strategic business units based on their relative market shares and growth rates |
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Term
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Definition
| how fast the unit is growing compared to the industry in which it competes |
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Term
| the SBU’s relative market share |
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Definition
| how the unit’s share of the market compares to the market share of its competitors |
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Term
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Definition
| business with high growth and a high market share) |
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Term
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Definition
| - Business or offering with a large share of a shrinking market |
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Term
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Definition
| purchasing a product with no planning or forethought, as well as differing degrees of such |
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Definition
| interpreting the world and making sense of it in your brain. |
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Definition
| realizing your full potential |
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Term
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Definition
| being respected by others as a result of your accomplishments) |
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Term
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Definition
| being loved, befriended, and accepted by others) |
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Definition
| feeling safe and sheltered from harm |
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Term
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Definition
| needing food, water, and sleep |
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Definition
| the process whereby a person filters information based on how relevant it is to them. |
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Term
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Definition
| the process whereby a person retains information based on how well it matches their values and beliefs |
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Definition
| advertising designed to startle people so as to get their attention |
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Definition
| advertising that is not apparent to consumers but is thought to be perceived subconsciously by them. |
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Definition
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Definition
| selling the same product to all consumers |
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Definition
| dividng people into groups based on how they behave or act toward products |
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Term
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Definition
| segmenting buyers by tangible, personal characteristics such as age, income… |
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Term
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Definition
| Segmenting buyers by where they are located |
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Term
| Psychographic segmentation |
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Definition
| segmenting people by their activities,interests, opinion, attitudes, values |
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Term
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Definition
| Generation that accounts for 50% of U.S. consumer Spending |
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Term
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Definition
| targeting an extremely select group of customers |
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Definition
| the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. |
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Definition
| A name, picture, design, or symbol, or combination of those elements, used by a seller to differentiate its offerings from competitors’. |
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Term
| Quality Function Deployment |
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Definition
| A specific process for designing new offerings that begins by specifying a customers requirements and then designing a product to meet those needs. 3rd step- feature specification |
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Term
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Definition
| introduction, growth, maturity, decline |
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Term
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Definition
| price is normally high, marketing costs are typically higher at this stage than any other; Penetration |
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Term
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Definition
| strategy where an org offers a low initial price on a product so that it captures as much market shares as possible |
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Term
| Skimming pricing strategy |
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Definition
| a high initial price that company set when introducing new products in order to get back money for investors |
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Term
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Definition
| the stage where sales increase and more competitors enter the market |
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Term
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Definition
| the stage where sales begin to level off and competitors have saturated the market; downsize- to decrease the size of the package; |
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Term
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Definition
| the stage where sales drop and companies must decide whether to keep, modify or drop a product |
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Term
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Definition
| an entity that is created when two parties agree to share their profits, losses, and control |
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Term
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Definition
| strategy in which businesses are the target of promotions so products get “pushed” through their marketing channels and sold to consumers. |
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Term
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Definition
| strategy in which consumers are targeted with sales promotions such as coupons, contests, games, rebates, mail-in-offers |
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Term
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Definition
| no industrial distributors |
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Term
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Definition
| at least one industrial distributors |
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Term
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Definition
| more than one industrial distributors |
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Term
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Definition
| employee theft of inventory |
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Term
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Definition
| A tag that emits radio signals tha can record and track a shipment as it comes in and out a facility |
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Definition
| practice of moving products between supply chain intermediaries so that they spend little or no time in warehouses as they are transported; |
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Definition
| physical flow of materials in the supply chain |
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Definition
| shipped by any other means of transport |
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Definition
| for international trade, couldn't be accomplished without this transport |
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Definition
| generally used to transport oil, natural gas, and chemicals |
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Definition
| the highest shipping cost, used for high sensitive products |
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Definition
| movement of previously shipped goods from customers back to manufacturers |
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Definition
| firms moving backwards in the supply chain to extract value |
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Definition
| process of extracting value from waste and use it to create new products |
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Definition
| purchasing goods for your organization |
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Definition
| where firms outsource their entire order processing departments |
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