Chapter 1 - Strategic Planning and the Marketing Management Process Flashcards
Marketing concept
an organization should seek to make a profit by serving the needs of customer groups
Purpose of marketing concept
to rivet the attention of marketing managers on serving board classes of customer needs (customer orientation) , rather than on the firm’s current products (product orientation) or on diving methods to attract customers to current products (selling orientation).
Effective marketing starts with?
recognition of customer needs and then works backward to devise products and services to satisfy these needs.
Organizations should focus on building ____ customer relationships in which the initial sale is viewed as a beginning step in the process, not as an _____ .
long-term relationship; end goal
What is the principal task of the marketing function operating under the marketing concept?
To find effective and efficient means of making the business do what suits the interests of customers.
Effective marketing as defined by the text requires that consumer needs come _____ in organizational decision making.
first
The American Marketing Association defines marketing as ___.
an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in was that benefit the organization and its stakeholders.
Major types of marketing
product, service, person, place, cause, organization
Product marketing
Marketing designed to crate exchanges for tangible products.
Service marketing
Marketing designed to create exchanges for intangible products.
Person marketing
Marketing designed to create favorable actions toward people.
Cause marketing
marketing designed to create support for ideas, causes, or issues or to get people to change undesirable behaviors.
Organization marketing
Marketing designed to attract donors, members, participants, or volunteers.
Example of Product marketing
strategies to sell Gateway computers
Example of Service marketing
strategies by Allstate to sell insurance
Example of Person marketing
strategies to elect a political candidate
Example of Cause marketing
strategies to get pregnant women not to drink alcohol
Example of Organization marketing
strategies designed to attract blood donors
Before ______ divisions or departments can implement any marketing planning, a plan has to be developed for the ____ organization.
individual; entire
The _____ and the _____ established at the top level provide the context for planning in each of the divines and departments by divisional and departmental managers.
objectives; strategies
The long-term value of loyal customers is ___ .
costs more to acquire new customers than to keep an old one, loyal customers buy more form your firm over time, the longer you keep a customer the more profitable they become over time, it costs less to service loyal customers than new customers, loyal customers are often excellence referrals for new business, loyal customers are often willing to pay more for the quality and value they desire.
