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.
