C14 Marketing Foodservice Flashcards
American Marketing Association
the professional association for those interested in the marketing discipline.
Marketing
An organizational function & set of processes for creating, communicating & delivering value to customers & for managing customer relations in ways that benefit the organization & its stakeholders.
Marketing concept
The way an organization views its customers, and the sale of its products.
Five categories of marketing concepts:
Manufacturing/production concept. Product concept. Selling concept. Marketing concept. Societal marketing concept.
Manufacturing/production concept
A marketing concept that focuses on production & distribution efficiency. Based on the belief that customers favor products that are available and highly affordable.
Product concept
A marketing concept based on belief that customers want products & product forms that exist already. Focus is on producing the best product.
Selling concept
A marketing concept with focus on selling and promotion. Belief is that with out it the customer won’t buy enough of the product.
Marketing concept
A marketing concept in which organization attempt to deliver product more effectively & efficiently than competitors. The needs of the target audience must be assessed.
Societal marketing concept
A marketing concept that focus on delivering a target markets desired satisfactive in the most effective & efficient way while trying to improve society’s and the consumer’s well-being.
Marketing
The process of profiling what customers want or need and then developing and providing products and services that meet the profile.
effectiveness
the degree to which an exchange helps to achieve an organization’s objectives.
efficiency
the minimization of resources that an organization must spend to achieve a specific level of desired exchanges.
marketing strategy
pertains to the selection & analysis of a group of people, identified as a target market, which the organization wants to reach. Includes the creation & maintenance of an appropriate marketing mix that will satisfy those people.
marketing mix
Combination of product, price, place, and promotion to satisfy target market.
target market
Customer with common characteristics for which an organization creates products/services.
product
Can be a good, service, of idea.
new product
A genuine innovation because it has not been served commercially.
new to the chain
Are products that an imitation of another successful product.
promotion
Use of communication to inform and influence consumers. Used to increase public awareness about a product.
place
Refers to the location where a good or service is offered.
marketing environment
surrounds the buyer and the marketing mix. Things that Influences ability to facilitate & expedite change, and influences customer’s preferences and needs for products.
market segmentation
The process of dividing a total market into groups of people with similar needs, wants, values, and buying behaviors. Are four categories: geographic, demographic, psychographic, behavioristic
geographic variables
Category of market segmentation. Include climate, terrain, population density, subcultural values that influence customer preference
demographic variables
Category of market segmentation. Population characteristics that might influence preference: age, gender, race, etc.
psychographic variables
Category of market segmentation. Motives & lifestyle characteristics. Motive - reason a consumer makes a purchase. Lifestyle - what is important to them and their mode of living.
Values & Life-styles (VALS)
Research program, seeks to predict customer behavior by defining segments, based on resources and primary motivation.
behavioristic variables
Category of market segmentation. Consumer behavior toward and use of a product. ex. purchase volume, readiness, loyalty, shopping behavior.
customer relationship management
practice involves using a computerized data base to store information about a customer.
Niche marketing
focuses on small, profitable segments of the market.
micromarketing
marketing to the single customer, the smallest niche.
social media marketing
Internet marketing that focuses on marketing through social media networks.
brand
any feature that identifies one seller’s good or service as distinct from those of other sellers.
brand equity
Value of a brand. Based on customer perception of the brand and their experience with it.
service
an act of performance that one can offer to another, is intangible & does not result in the ownership of anything. Is given immediately and can not be remade. Are produced at the time they are consumed.
intangibility of services
Inability of services to be seen, touched, tasted, smelled, or possessed before buying.
atmospherics
Physical elements in an operation’s design that appeal to customers’ emotions.
Inseparability
Inability to separate production and service. A service is consumed simultaneously with its production.
Perishability of services
Services cannot be stored for future sale.
heterogeneity of service
variation and lack of uniformity in the performance by different service employees.
mission statement
A summation of the organizations’s purpose, competition, target market, product, and service and of the recipients of the service, including customers, employees, owners, and the community.
strategic business units (SBUs)
Is a separate component of the business with its own market segment. Must have a strategy consistent with that of the corporation, its own mission, and own competitors.
marketing objective
Is a statement of what is to be accomplished through marketing activities. Each SBU needs to set its own objectives. ex dollar sales, % profit growth.
situation analysis
Identification of marketing opportunities and challenges confronting an organization.
marketing strategy
The selection and analysis of a target market, and maintenance of an appropriate marketing mix that will satisfy that market. A strategy should be as specific as possible.
marketing research
links the consumer, customer, & public to the marketer through information used to identify & define marketing opportunities & problems. Improves performance in and understanding of the market.
marketing research process
Problem definition, data collection, data analysis, recommendations, report preparation.
marketing plan
Written document or blueprint governing an organization’s marketing activities.
marketing planning
Is a systematic processes involving assesment of marketing opportunities & resources, determining marketing objectives, development of a marketing strategy, and planning for implementation and control.
sales analysis
Used to evaluate the actual performance of marketing strategies. Is the detailed study of sales data, either volume, or market share.
