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| social and managerial process that helps indiduals and groups obtain what they need and want through creating, offering and exchanging products of calue with others. |
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| when a person feel deprived of basic necessities such as food, clothing, and shelter |
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| a need that is shaped by a persons knowledge, culture, and personality |
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| people with both the desire and the ability to buy a specific offering |
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| one or more specific groups of potential customers toward which and organization directs its marketing program |
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| marketing program components |
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| Product, price,promotion, place |
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| a good, service, or idea to satisfy the consumer's needs |
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| what is exchanged for the product |
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| a means of communicating between the buyer and seller |
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| a means of getting the product to the consumer |
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| customer value proposition |
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| a cluster of benefits that an organization promises customers to satisfy their needs |
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| social, technolgical,economic, competative ,and regulatory forces that a company cannot control |
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| came about in the 50's and says that an organization should strive to satisfy the needs of consumers while trying to achieve the organizations goals |
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| when an organizationfocuses its efforts on continuously collecting informationabout consumers needs, sharing those needs across departments, and using it to create customer value |
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| customer relationship management |
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| prevelant beggining in the 1980's, and is the process oof identifying prospective buyers, understanding them intimately, and developing long term perceptions of the organization and is offerings so buyers will choose them in the marketplace |
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| internal response that customers have to all aspects of an organization and its offerings, both direct and indirect with the company |
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| societal marketing concepts |
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| the view that organizations should satisfy the needs of consumers in a way that provides for societys well-being |
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| those who use the products bought for a househodl |
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| those manufacturers, wholesalers, retailers and govt that buy products for their own use or resale |
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| production concept (through 1920's) |
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| companies want to make as much as possible cheaply, quality questionable |
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| selling concept (till 50's) |
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| companies focus on hard sell to consumers and sells what i makes as opposed to making what it can maybe sell, salespeople introduced |
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| process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
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| demographic shifts, cultural changes |
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| macro-econ conditions, consumer income |
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| alternative forms of competition, small businesses |
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| laws protecting competition, laws affecting marketing mix actions, self regulation |
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| describing a population according to selected characteristics like age, gender , ethnicity, income, and occupation |
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| programs which are combinations of the marketing mix that reflects the attitudes, ancestry, communication preferences and lifestyles of different races |
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| the concern for obtaining the best quality, features, and performance of a product or service for a given price |
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| total money made in one year |
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| money a consumer has after taxes, used for necessities like food, housing, clothing, an transportation |
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| the money that remains after paying for taxes and necessities |
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| restrictions state and federal laws place on business with regards to the conduct of its activities |
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| the cause of regulatory laws, movement to increase the influence, power, and rights of consumers in dealing with institutions |
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| legal entity consisting of people who share the same mission |
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| privately owned organization that serves its customers in order to make a profit |
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| serves its customers but does not have have profit as an organizational goal |
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| an organizations's long term course of action designed to deliver a unique customer experience while achieving its goals |
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| where top management directs over-all strategy for the entire organization |
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| Strategic business unit (SBU) |
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| a subsidary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers |
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| where groups of specialists actually create value for the organization |
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| organizational foundation |
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| companies reason for being |
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| fundamental, passionate, and enduring principles that guide its conduct over time |
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| a statement of th organizations function in osciety that often identifies its customers, markets, products, and technologies |
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| the set of values, ideas, attitudes, and norms of behavior that is learned and shared among members of the organization |
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| a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation |
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| business portfolio analysis |
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| technique that managers use to qualify performance measures and growth targets to analyze SBUs |
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| high market share, slow growth |
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| high market share, high growth |
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| low market share, low growth |
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| low market share of high growth market |
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| technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products |
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| increase sales of current product in current markets |
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| sell current produts to new markets |
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| sell new products to current markets |
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| sell new products to new markets |
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