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67 Cards in this Set
- Front
- Back
Some type of utility that a company and its product provide its customers
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benefit
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the want satisfying power of a good or service
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utility
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combination of customer value, satisfaction and loyalty
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value chain
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the ongoing process of developing and implementing market dirven strategies for an org.
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marketing plan
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functional level plans are used by
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sbu
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a comprehensive plan stating how the rog. will achieve its mission and objective
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strategy
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overall directional strategy
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generic strategy
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Involves investing in existing customer to gain additional usage of existing products
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market penetration
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Recognize the opportunity to invest in a new product that will increase usage from the current customer base
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product development
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allows for expansion of the firm's product line in untapped markets
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market development
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a comprehensive business model for increasing revenues and profits by focusing on customers
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CRM
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Three objectives of CRM
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Customer acquisition, Customer Retention, and Customer Profitability
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Are where the selling firm touch the customer in some way
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touchpoints
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The activity, set of institutions, and processes for creating, communication, and delivering and exchanging offerings that have value for customer, clients, partners and society at large.
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Marketing
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Leading and managing the facets of marketing to improve individual, unit and org. performance.
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Marketing Management
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In which people give up something of value to them for something they desire to have.
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Exchange
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Is an org. wide customer orientation with the objective of achieving long-run profits.
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Marketing Concept
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Deals with implementing customer orientation.
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Market Orientation
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Collect and use real time data to stay current with their customers.
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Relationship Orientation
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An understanding of marketing beyond home market develops over time.
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Global Experience Learning Curve
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When a firm commitment to produce products outside its domestic market it is engaged in this.
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International Marketin
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company realizes that all world markets including the company’s own domestic market, are in reality, a single market with different segments.
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Global Marketing
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Continual innovation by products and market opps.
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Prospector
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Imitation of the success of other orgs.
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Analyzer
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Searches for market stability and production of only a limited product line for a narrow market
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Defender
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Firm that lacks any coherent strategic plan or apparent means of competition.
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Reactor
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Seize on opportunities to serve new market with new products.
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Diversification
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Analytical approach to using the massive amounts of datataccumulated through CRM system to develop segments of customers
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Data Mining
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is not a software package but a continuing process of identifying, analyzing, and dispensing critical information to marketing decision makers.
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Marketing Information System
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Engage in collecting, analyzing, and storing data from the macro environment on a continuous basis
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Marketing Intelligence
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The statistical characteristics of human populations. Help define a market and identify new opportunities.
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Demographics
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Study of individual economic activity.
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Microeconomics
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The study of economic activity in terms of broad measures of output and input as well as the interaction among various sectors of the entire economy.
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Macroeconomics
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the methodical identification, collection, analysis, and distribution of data related to discovering then solving marketing problem and opps and enhancing good decision making.
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Market Research
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Good Marketing Follows:
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A well defined set of activities and does not happen by accident
Enhances the validity of the information Is impartial and objective. |
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Exactly what information is needed to help management in the situation
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Research Problem
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Research about discovery
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Exploratory
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Seeks to describe or explain some phenomenon.
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Descriptive
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Tries to discover the cause and effect between variables.
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Casual Research
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Includes information about when, what, and how often customers purchase products and services.
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Behavioral Data
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The behavioral patterns among the population of interest
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Observational Data
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Uses a device to chronicle an activity
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Mechanical Observation
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Involves access and distribution of the survey to the respondent then recording the respondent's responses and making the data available for analysis
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Data Collection
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Uses specific set of procedures to identify individuals from the population to be included in the research
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Probability Sampling
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The probability of everyone in the population being included in the sample is not identified.
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Non-probability Sampling
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Delivering ____ to the customer is the core of marketing
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value
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References an individual's perspective on life and manifests itself in that person's activties, interest, and opinions.
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Lifestyle
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Motive drives _____.
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Behavior
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The stimulating power that induces adn then directs behavior.
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Motivation
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Learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.
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Attitude
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Two sets of values.
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Cultural and Personal
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A system to select, organize and interpret information to create a useful, informed picture of the world.
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Perception
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Information can be misunderstood or made to fit existing beliefs, known as.
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Selective Distortion
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Involves mental processes that acquire infromation to work through problems and manage life situations.
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Cognitive Learning
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A set of unique personal qualities that produce distinctive responses across similar situations.
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Personality
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Any change in the content or organization of long-term memory or behavior.
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Learning
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Assimilates shared artifacts such as values, morals, beliefs, art, law and customs into an organized system that enables people to function as members of society.
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Culture
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Principles shared by a society that assert positive ideals.
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Cultural Values
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A group within the culture that shares similar cultural artifacts created by differences in ethnicity, religion, race or geography.
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Subculture
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A ranking of individuals into harmonized groups bases on demographics characteristics such as age, education, income, and occupation.
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Social Class
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Three elements of involvement:
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Individual's Background, Aspirational Focus, and Enviornment
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Product bought outside one's social standing.
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Aspirational Purchase
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When there is a ____ between the real state and the prefered state a problem is created.
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discrepancy
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The beging set of possible alternatives is known as the ____.
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Complete Set
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The ____ reduces number of opitions.
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Awareness Set
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Encompasses the strongest opitions.
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Consideration Set
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Post Purchase Assessment (4)
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Dissonance, Use/Nonuse, Disposal, Satisfaction/Dissatisfaction
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