Chapter Ten - MANAGING THE MARKETING FUNCTION Summaries Flashcards
Marketing Plan
Marketing Plan is the information usually expressed as facts and figures - relevant to the defined marketing problem.
Primary Data
Primary Data are the facts and figures collected from original sources.
Statistical Interpretation Analysis
Statistical Interpretation Analysis is the process of focusing on the data that represents average, typical or deviations from typical patterns.
Personality
An individual’s personality is the collection of all the behaviours and characteristics that make up that person.
Product Mix
Product Mix is the total range of products offered by a business.
Survey
A survey gathers data by asking questions or interviewing people.
Product Positioning
Product Positioning is the development of a product image compared with the image of competing products.
Distribution Channels
Distribution Channels are the routes taken to get the product from the factory to the customer.
Promotion Mix
A Promotion Mix is the promotion methods a business uses in its promontial campaign. Methods include personal selling, advertising and publicity and public relations
Advertising Media
Advertising Media refers to the many forms of electronic and print communication used to reach an audience.
Marketing Profitability Analysis
Market profitability refers to the financial factors that affect a company’s ability to make.
Materialism
Materialism is an individual’s desire to acquire more possessions.
Marketing
Marketing is a form of communication between you and your customers with the goal of selling your product or service to them.
Consumer Buying Behaviour
Consumer Buying Behaviour refers to the decisions and actions of consumers when they purchase goods and services for personal or household use.
Customer Service
Customer Service means responding to the needs and problems of the customer. Central to this response is making sure the desired product is delivered at the appropriate place at the right time .
Psychological Factors
Psychological Factors in influences within an individual that affects his/her buying behaviour.
Sociocultural Influences
Sociocultural factors are customs, lifestyles and values that characterize a society or group. Cultural aspects include concepts of beauty, education, language, law and politics, religion, social organizations, technology and material culture, values and attitudes ect.
Market
Marketers define a market as the number of all actual and potential buyers of a product.
Brand
coA brand is a name, term, symbol, design or any combination of these that identifies a specific product and distinguishes it from it competition.
Non-store Retailing
Non-store Retailing is retailing activity conducted away from the traditional store.
Personal Selling
Personal Selling involves the activities of a sales representative directed to a customer in an attempt to make a sale.
Product Life Cycle
A Product Life Cycle consists the stages a product passes through innovation, introduction, growth, maturity and decline.
Social Media Advertising
Social Media Advertising is a form of online advertising that uses social media channels to deliver targeted commercial messages to potential customers.
Product Placement
Product Placement is the inclusion of product advertising in entertainment.
Marketing Concept
The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.
Product
A product is a good or service that can be offered in an exchange for the purpose of satisfying a need or want.
Packaging
Packaging involves the development of a container and the graphic design for a product.
Brand Name
A Brand Name is that part of the brand that can be spoken.
E-marketing
E-marketing is the practise of using the internet to perform marketing activites.
Publicity
Publicity is any free news story about a business’s products.
Market Coverage
Market Coverage refers to the number of outlets a business chooses for its product.
E-marketing
E-marketing is the practise of using the internet to perform marketing activities.
Exports
Exports are goods or services sold by one country to individuals, businesses or governments in another country with aim of extending sales and marketing penetration.
Reach
The reach of an advertisement measures the number of people exposed to the message
Unconscionable Conduct
Unconscionability (sometimes known as unconscionable dealing/conduct in Australia) is a doctrine in contract law that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of the party who has the superior bargaining power, that they are contrary to good conscience.
Primary Target Market
The primary target market is the market segment that which most of the marketing resources are dirceted.
Public Relations
Public Relations are those activities aimed at creating and maintaining favourable relations between a business and its customers.
Diversification
Diversification occurs when businesses vary their range of products or field of operations.
Sales Analysis
Sales Analysis uses sales data to evaluate the business’s current performance and the effectiveness of the marketing mix.
Globalisation
Globalisation is the effect of ever more sophisticated communications technology, lower transport cost, and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system.
