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utility
want-satisfying power of a good or service; form, time, place, ownership
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form utility
conversion of raw materials and components into finished goods and services
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time utility
avalability of goods and services when customers want them
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place utility
availability of goods and services at convienent locations
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ownership utility
ability to transfer title to goods or services from marketer to buyer
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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
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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
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marketing myopia
mgmts failure to recognize the scope of its business; product orientated over customer orientated mgmt endangers growth.
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person marketing
marketing efforts designed to cultivate the attention, interest, and preferences, of a target market toward a person
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place marketing
marketing efforts to attract people and organizatoins to a particular geographic area
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cause marketing
identificaton and marketing of a social issue, cause, or idea to selected target markets
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event marketing
marketing of sporting, cultural, and charitable activities to selected target markets
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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
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transaction based marketing
buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between parties
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mobile marketing
marketing messages transmitted by wireless tech
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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
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social marketing
the use of online social media as a communications channel for marketing messages
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buzz marketing
word-of-mouth messages that bridge the gap between its company and its products
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strategic alliances
partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market
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8 universal marketing functions
buying, selling, standardizing and grading, financing, transporting, storing, risktaking, securing marketing information
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