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Definitions and explanations of key marketing terms, concepts, and strategies. Topics include the definition of marketing, the marketing mix, customer satisfaction, relationship building, marketing growth rates, market positioning, and various marketing tools and techniques. It also covers various eras of marketing and strategies to build a competitive advantage.
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an organizational function and a set of processes , for creating , capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders TERM 2
DEFINITION 2 needs and wants TERM 3
DEFINITION 3 product, promotion, placement, price TERM 4
DEFINITION 4 individuals and organizationsb2bb2cc2c TERM 5
DEFINITION 5 item you can physically touch
intangible customer benefit TERM 7
DEFINITION 7 production oriented eras-sales oriented era1920-1950market oriented-after world war 2Value Based Marketing TERM 8
DEFINITION 8 no it can but it does not all ways mean that TERM 9
DEFINITION 9 relational orientation TERM 10
DEFINITION 10 group of firms that make and deliver a given set of goods and services
involves the process of defining marketing mix variables so that the target market have a clear, distinctive, desirable understanding of what the product or represents in comparison to competing products TERM 17
DEFINITION 17 stars-high market share high growth ratecash cows-high market share low growth ratequestion marks- low market share high growthdogs- low growth low market TERM 18
DEFINITION 18 Segmentation Targeting positioning TERM 19
DEFINITION 19 SWOT analysis TERM 20
DEFINITION 20 Market Penetration-existing customersMarket Development- new market segmentsProduct Development-new productdiversification- new product or service that they do not currently serve
Culture Demographics Social issues, tech advnces, economics situation, politicaln regulatory environment TERM 22
DEFINITION 22 Gen y 1977-Gen xBaby BoomersSenoirs TERM 23
DEFINITION 23 Price SensitivityHealth and wellness concernsGreen consumersPrivacy concerns TERM 24
DEFINITION 24 wats-goods or services that are not necessary but are desiredneeds- necessary for survival TERM 25
DEFINITION 25 functional- performance of a productpsychological - personal gratification
extended-consumer spends a lot of time analyzing alternatives(risky purchases)limited- at most a moderate amount of consideration TERM 32
DEFINITION 32 define objective and research needsdesigning the researchdata collectionanalyze data develop insightsaction plan and implementation TERM 33
DEFINITION 33 external is collected from sources outside the firminternal- collected from firms own data on day to day TERM 34
DEFINITION 34 observation, following social media, in depth interviews, focus group, protective techniques TERM 35
DEFINITION 35 surveys, formal studies, scanner or panel data,
data-raw numbersinfo- organized, analyzed, interpreted data with value TERM 37
DEFINITION 37 Specialty-luxury cars ,medical professionsshopping- -funiture appliancesConvenience- beverages, breadunsought- Gps or hand warmers TERM 38
DEFINITION 38 breadth is the amount of product lines by a companydepth is the amount of products in the product line TERM 39
DEFINITION 39 Brands facilitae purchseLoyaltyprotect from competition and price competitionreduce marketing costsassets(trademarks)impact market value TERM 40
DEFINITION 40 assets linked to a brand that add to or subtract from the valuecomponents-brand awarenessPerceived valuebrand associationsBrand Loyalty
Idea generationconcept testingproduct developmentmarket testingproduct launchevaluation of results TERM 47
DEFINITION 47 Internal ResearchR&D consortiaLicensingBrainstormingoutsourcingCompetitors ProductsCustomer Input TERM 48
DEFINITION 48 Introduction -little to no profit/low salesgrowth- rising sales- rapidly rising profitsmaturity-peak of sale/peak to decline of profitsdecline- decline in both