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The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing. - PowerPoint PPT Presentation
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Intro Marketing Planning
Cons. Behav
Global Mktg
Ethics & Environ
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The activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners,
and society at large.
Marketing
When two or more parties give something of value to
each other to satisfy felt needs, this is called a marketing ________.
Exchange
The marketing mix is the combination of the following
4 strategies…
ProductPrice
DistributionPromotion
The group of people toward whom the firm decides to direct its marketing efforts
Target Market
This orientation is based on the ideas that people will buy
more goods and services if aggressive sales result in high
profits.
Sales orientation
This is a system of traditions, values, and beliefs that is
handed down from generation to generation and
is slow to change
Culture
Customer’s evaluation of a good or service in terms of
whether it has met their needs and expectations.
Customer satisfaction
An intermediary who plays the traditional broker’s role by bringing buyer and seller
together
Export broker
Licensing, franchising, contract manufacturing, joint venture and direct investment
are
Global market place entry strategies
This strategy allows a marketer to change a
promotional message or product feature based on the
needs of the local market, and their tastes and
preferences
Adaptation
The five environments that face any marketer, over which he/she has little
control are…
EconomicCompetitive
Political/LegalSocial/CulturalTechnological
Name and/or describe one form of competition
DirectIndirect
Universal – for all consumer’s disposable
income
Because not all issues are black and white, this area of
business is highly controversial and requires a
strong set of morals and values for decision-making.
Ethics
Once a company has met legal and economic
requirements, they should next practice this by giving
back to the community.
Social Responsibility
This ethical issue involves advertisers promoting a
product for sale that has a limited quantity or none in-stock, in an attempt to get
you to buy other (more expensive) things while
shopping.
Bait and Switch Advertising
A group in society that influences an individual’s
purchasing behavior.
Reference Group
An individual who influences
the opinion of others.
Opinion Leader
The first step in the consumer decision-making process
is….
Need recognition
Inner tension that a consumer experiences after recognizing
an inconsistency between behavior and values or
opinions.
Cognitive Dissonance
The way consumers make decisions is based on…
Personal and Interpersonal Factors
The marketing of goods and services to individuals and organizations for purposes
other than personal consumption.
Business Marketing
Demand for business products results from demand
for consumer products.
Derived Demand
Name and describe one type of business product.
Major EquipmentAccessory Equipment
Raw MaterialsComponent Parts
Processed Materials Supplies
Business Services
All those persons in an organization who become involved in the purchase
decision.
Buying Center
The three main criteria that businesses use to evaluate
products are…
Quality, Service & Price
The managerial process of creating and maintaining a fit
between the organization’s objectives and resources and evolving market oportunities
Strategic planning
Name at least three components of a Marketing
Plan
Business Mission StatementObjectives
SWOTTarget Market Strategy
Marketing MixImplementation/Evaluation/
Control
When a firm produces numerous products and promotes them with a
different marketing mix, they are practicing…
Differentiated Marketing
Being the low cost competitor in an industry
while maintaining satisfactory profit margin is
called having…
A cost competitive advantage
A market strategy that entails attracting new customers to
existing products
Market development
