1. Marketing
    Processes for creating, comm, deliv, and exchanging offerings that have value to customers
  2. exchange
    people giving up something to receive something they would rather have
  3. production orientation
    internal capibilities of the firm
  4. Sales Orientation
    People will buy more goods if aggressive sales tech. are used
  5. marketing concept
    social and econ. justification for an org.s existence is the satisfaction of customer needs.
  6. market orientation
    sale does not depend on aggressive sales force, but on a customer's decision to buy a product
  7. soceital marketing orientation
    preserve society and satisfy customer needs
  8. customer value
    the relationship between benefits and the sacrifice necessary to obtain those benefits
  9. customer satisfaction
    customer's evaluation of a good or service in terms of wether it has met their needs and expectations
  10. relationship marketing
    focuses on keeping and improving relationships with current customers
  11. empowerment
    delegation of authority to solve customers problems quickly
  12. teamwork
    collaborative efforts of people to accomplish common objectives
  13. strategic planning
    the managerial process of creating and maintaining a fit between the org's objectives and resources and the evolving market opportunities
  14. planning
    the process of anticipating furutre events and determining strategies to achieve goals
  15. marketing planning
    designing activities related to marketing objectives and the changing marketing environment
  16. marketing plan
    a written document that acts as a guidebook of marketing activities for the marketing manager
  17. mission statement
    c'mon dude. you know what this is.
  18. marketing myopia
    defining a business in terms of goods and services rather than in ters of the benefits customers seek
  19. strategic business unit
    a subgroup of a single business within a larger organization
  20. SWOT analysis
    Strengths Weaknesses (both internal), Opportunities, Threats (external)
  21. environmental scanning
    collection and interpretation of info about forces, events, and relationships in the external environment
  22. markeint objective
    a statement of what is to be accomplished through marketing activities
  23. competitive advantage
    a set of unique features a business has over another business
  24. cost competitive advantage
    being the low cost competitor in an industry while maintaining good margins
  25. experience curves
    show costs declining at a predictible rate as experience wth a product increases
  26. product/differentiation comp. advan.
    the provision of something that is unique and valuable to buyers
  27. niche comp. advan.
    the advantage achieved when a firm seeks to target and effectively serve a small segment of the market
  28. sustainable comp. advan.
    and advantage that cannot be copied by the comp.
  29. market penetration
    tries to increase market shares within current customers
  30. market development
    attracting new customers to current products
  31. product development
    creation of new products for present markets
  32. diversification
    new products in new markets
Card Set
Marketing Test 1