Shared Flashcard Set

Details

MKTG2030 Chapter 1
All the terms and process steps.
12
Marketing
Undergraduate 2
04/11/2013

Additional Marketing Flashcards

 


 

Cards

Term
Need
Definition
The difference between the consumer's current state, and the desired state.
Term
Want
Definition
The desire to satisfy needs in certain ways that are culturally and socially influenced.
Term
Benefit
Definition
The outcome sought by a customer that motivates buying behaviour
Term
What can we market?
Definition
i) Consumer goods
ii) B2B Goods
iii) Not-for-profit marketing
iv) Idea, Place, and People Marketing
Term
Marketing Decision Process
Definition
i) Understand the Opportunity
- Situational Analysis
ii) Marketing Strategy
- STP
iii) Marketing Mix
- PPPP
iv) Implementation and Evaluation
Term
Distinct Competency
Definition
A competitive advantage
Term
Differential benefit
Definition
A value that competitors don't offer.
Term
Attention Economy
Definition
A perspective that consumer spending is driven by psychological attachment to brands; companies must stand out from the crowd
Term
Social Marketing Concept
Definition
A management philosophy that marketers must satisfy consumers' needs in ways that benefit society & also deliver profits.
Term
Product Orientation
Definition
Emphasizes the most efficient way to produce and distribute goods.
Term
Selling Orientation
Definition
Emphasizes the most efficient way to move products out and reduce inventory.
Term
Consumer Orientation
Definition
Emphasizes the most efficient way to satisfy customer needs & wants.
Supporting users have an ad free experience!