1. utility
    want-satisfying power of a good or service; form, time, place, ownership 
  2. form utility
    conversion of raw materials and components into finished goods and services
  3. time utility
    avalability of goods and services when customers want them
  4. place utility
    availability of goods and services at convienent locations
  5. ownership utility
    ability to transfer title to goods or services from marketer to buyer
  6. marketing
    the activity, set of institutions, and processes for creating, comunicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
  7. four eras in history of marketing
    • production - "a good product will sell itself" - prior to 20's
    • sales - "creative advertising and selling will overcome consumers resitance and persuade them to buy" - prior to 50's
    • marketing - "the consumer rules! find a need and fulfill it" - since 50's
    • relationship - "longterm relationships lead to success" - since 90's
  8. marketing myopia
    mgmts failure to recognize the scope of its business; product orientated over customer orientated mgmt endangers growth.
  9. person marketing
    marketing efforts designed to cultivate the attention, interest, and preferences, of a target market toward a person
  10. place marketing 
    marketing efforts to attract people and organizatoins to a particular geographic area
  11. cause marketing
    identificaton and marketing of a social issue, cause, or idea to selected target markets
  12. event marketing
    marketing of sporting, cultural, and charitable activities to selected target markets
  13. organization marketing
    marketing by mutual-benefit, service, and govt organizations intended to persuade others to accept goals, recieve their services, or contribute to them in some way 
  14. transaction based marketing
    buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between parties
  15. mobile marketing
    marketing messages transmitted by wireless tech
  16. interactive marketing
    buyer seller comunications in which the customer controls the amount and type of info recieved from a marketer through such channels as the internet and virtual reality kiosks
  17. social marketing
    the use of online social media as a communications channel for marketing messages
  18. buzz marketing 
    word-of-mouth messages that bridge the gap between its company and its products
  19. strategic alliances
    partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market
  20. 8 universal marketing functions
    buying, selling, standardizing and grading, financing, transporting, storing, risktaking, securing marketing information
Card Set
Chapter 1