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Intro Marketing Planning Cons. Behav Global Mktg Ethics & Environ 100 200 400 800 1600
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.
When two or more parties give something of value to each other to satisfy felt needs, this is called a marketing ________.
The marketing mix is the combination of the following 4 strategies…
Product Price Distribution Promotion
The group of people toward whom the firm decides to direct its marketing efforts
This orientation is based on the ideas that people will buy more goods and services if aggressive sales result in high profits.
This is a system of traditions, values, and beliefs that is handed down from generation to generation and is slow to change
Customer’s evaluation of a good or service in terms of whether it has met their needs and expectations.
An intermediary who plays the traditional broker’s role by bringing buyer and seller together
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
The five environments that face any marketer, over which he/she has little control are…
Economic Competitive Political/Legal Social/Cultural Technological
Name and/or describe one form of competition
Direct Indirect 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.
Once a company has met legal and economic requirements, they should next practice this by giving back to the community.
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.
An individual who influences the opinion of others.
The first step in the consumer decision-making process is….
Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions.
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.
Demand for business products results from demand for consumer products.
Name and describe one type of business product.
Major Equipment Accessory Equipment Raw Materials Component Parts Processed Materials Supplies Business Services
All those persons in an organization who become involved in the purchase decision.
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
Name at least three components of a Marketing Plan
Business Mission Statement Objectives SWOT Target Market Strategy Marketing Mix Implementation/Evaluation/ Control
When a firm produces numerous products and promotes them with a different marketing mix, they are practicing…
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
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