Chapter 13 Flashcards

1
Q

The process of creating value for customers and building relationships with those customers in order to capture value back from them

A

Marketing

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2
Q

Marketing efforts to attract people and organizations to a particular geographical area

A

place marketing

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3
Q

Identification and marketing of a social issue, cause, or idea to selected target markets

A

cause-related marketing

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4
Q

Differences between a peron’s actual state and his or her ideal state, they provide the basic motivation to make a purchase

A

Needs

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5
Q

Specific goods, services, experiences, or other entites that are desirable in light of a person’s experiences, culture, an dpersonality

A

Wants

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6
Q

The act of obtaining a desired object or service from another party by offering something of value in exchange

A

exchange process

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7
Q

An exchange of value between parties

A

transaction

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8
Q

the power of a good or service to satisfy the human need

A

Utility

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9
Q

An approach to business management that stresses customer needs and wants, seeks long-term profibility, and integrates marketing with other functional units within the organization

A

Marketing concept

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10
Q

A focus on developing and maintaining long-term relationships with customers, suppliers, and distribution partners for mutual benefit

A

relationship marketing

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11
Q

The degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider

A

customer loyalty

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12
Q

A type of information system that captures organizes and capitalizes on all the interactions that a company has with its customers

A

Customer relationship management

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13
Q

The creation and sharing of product related information among customers and potential customers

A

Social commerce

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14
Q

The collection and analysis of information for making marketing decisions

A

Marketing research

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15
Q

A marketing approach in which firms first ask permission to deliver messages to an audience and then proise to restrict their communication efforts to those subject areas in which the audience memebers have expressed interest

A

permission-based marketing

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16
Q

The delivery of marketing messages to people who are not aware they are being marketing to, these messages can be delivered by either acquaintances or strangers, depending on the technique

A

stealth marketing

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17
Q

Individuals or houjseholds that buy oods and services for personal use

A

consumer markets

18
Q

Companies, goverment agencies, and other organizations that buy goods and services either to resell or to use in the creation of their own goods and services

A

Organizational markets

19
Q

Tension that exists when a person’s beliefs don’t match his or her behaviors; a common example is buyer’s remorse, when someone regrets a purchase immediately after making it

A

cognitive dissonance

20
Q

The process of examining an organization’s current marketing situaion, assessing opportunities, and setting objectives, and then developing a marketing strategy to reach those objectives

A

Strategic market planning

21
Q

Selling more of a firm’s existing rpoducts into the markets it already serves

A

Market penetration

22
Q

Creationg new products for a firm’s current markets

A

product development

23
Q

Selling existing products to new markets

A

market development

24
Q

Creating new products for new markets

A

diversification

25
Q

a firm’s portion of the total sales in a market

A

market share

26
Q

An overall plan for marketing a product; includes the identification of target market segments, a positioning strategy, and a marketing mix

A

marketing strategy

27
Q

a group of customers who need or want a particular product and have the money to buy it

A

market

28
Q

The division of a diverse market into smaller, relatively homogenous groups with similar needs, wants, and purchase behaviors

A

market segmentation

29
Q

the study of statistical characteristics of a population

A

demographics

30
Q

Classification of customers on the basis of their psychological makeup, interests, and lifestyles.

A

Psychographic

31
Q

Categorization of customers according to their gheographical location

A

geographic segmentation

32
Q

Categorization of customers according to their relationship with products or response to product characteristics

A

behavioral segmentation

33
Q

Specific customer groups or segements to whom a company wants to sell a particular product

A

target markets

34
Q

Managing a business in a way designed to occupy a particular place in the minds of target customers

A

positioning

35
Q

the four key elements of marketing strategy: product, price, distribution, and customer communication

A

Marketing mix

36
Q

A bundle of value that satisfies a customer need or want

A

product

37
Q

the amount of money charged for a product or service

A

price

38
Q

Systems for moving goods and services from producers to consumers; also known as marketing channels

A

distribution channels

39
Q

A wide variety of persuasive techniques used by companies to communicate with their mtarget markets and the general public

A

promotion

40
Q

Turning raw materials into finished goods

A

Form utility

41
Q

Making products available when and where customers want them

A

Time and place utility