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financial management vocal word > chp 1-3 > Flashcards

chp 1-3 Flashcards

1
Q

big data

A

the discovery of meaningful patterns in data

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2
Q

Customer relationship management

A

a business strategy that focuses on highly defined and precise customers groups

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3
Q

customer satisfaction

A

customers evaluation of good service

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4
Q

customer value

A

relationship between benefits and the sacrifice necessary to obtain those benefits cost

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5
Q

empowerment

A

delegation of authority to solve customers’ problems quickly usually with the first person who the customer encounter with the problem

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6
Q

exchange

A

giving up something to receive something

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7
Q

market orientation

A

a philosophy that a sell doesn’t come from an aggressive force but because the customers decision to purchase the product

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8
Q

marketing

A

the process of creating, communicating, and exchanging offerings that have value for customers, clients

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9
Q

on-demand marketing

A

delivering experience throughout the customers buying process

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10
Q

production orientation

A

focus more on the firm rather than the marketplace

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11
Q

relationship marketing

A

a strategy that focuses on keeping and improving relationships with current customers

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12
Q

sales orientation

A

the belief that people will buy more if aggressive sales techniques are used.

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13
Q

societal marketing orientation

A

a idea that not only does the organization exist for customers but to enhance individuals and society

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14
Q

team work

A

collaborative effort of people to accomplish common objective

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15
Q

cash cow

A

a business unit that generate more cash than it needs to maintain its market share

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16
Q

Competitive advantage-

A

a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition

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17
Q

control

A

provides the mechanisms for evaluating marketing results considering the plan’s objectives and for correcting actions that do not help the organizations reach those objectives within budget guidelines

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18
Q

cost competitive advantage

A

being the low - cost competitor in the industry while maintaining satisfactory profit margins

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19
Q

diversification

A

a strategy of increasing sales by introducing new products into new markets

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20
Q

dog

A

a business unit that has low growth potential and a small market share

21
Q

environmental scanning

A

collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan

22
Q

evaluation

A

gauging the extent to which the marketing objectives have been achieved during the specified time

23
Q

experience curve

A

curves that show cost declining at a predictable rate as experience with a product increase

24
Q

implementation

A

The processes that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan’s objectives

25
Q

market penetration

A

a market strategy that tries to increase market share among existing customers
Marketing audit

26
Q

market mix four ps

A

a unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market

27
Q

marketing myopia

A

defining a business in terms of goods and services rather than in terms of the benefits customers seek

28
Q

marketing objective

A

a statement of what is to be accomplished through marketing activities

29
Q

market plan

A

a written document that acts as a guidebook of marketing activities for the marketing manager

30
Q

marketing strategy

A

the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets

31
Q

mission statement

A

a statement of the firm’s business based on careful of analysis of benefits sought by present and potential customers and anticipated environmental conditions

32
Q

niche competitive advantage

A

the advantage achieved when a firm seeks to target and effectively serve a small segment of the market

33
Q

planning

A

the process of anticipating future events and determining strategies to achieve organizational objectives in the future

34
Q

portfolio matrix

A

a tool for allocating resources among products or strategic business units based on relative market share and market growth rate

35
Q

problem child

A

a business unit that generates more cash than I need to maintain its market

36
Q

product development

A

a marketing strategy that entails the creation of new products for present markets

37
Q

product /service differentiation

A
  • the provision of something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition
38
Q

star

A

a business unit that is a fast-growing market leader

39
Q

strategic business unit

A

a subgroup of a single business or collection of related business within the larger organization

40
Q

behavioral norms

A

proper or acceptable behavior

41
Q

casuist ethical theory

A

the theory that compares a current ethical dilemma with an example of a similar ethical dilemma

42
Q

cause-related marketing

A

the cooperative marketing efforts between a for-profit firm and a nonprofit organization

43
Q

code of ethics

A

a guideline to help managers and employees make better decisions-a law that prohibits us to make illegal payments to foreign governments to obtain business rights
Corporate social responsibility (CSR)-a business concern for society’s welfare

44
Q

corporate social responsibility

A

a business concern for society’s welfare

Deontological theory-people should believe in in their obligations and duties when analyzing and ethical dilemma

45
Q

deontological theory

A

people should believe in in their obligations and duties when analyzing and ethical dilemma

46
Q

ethics

A

the moral principle that governs conduct of an individual

47
Q

green marketing

A

the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment

48
Q

green washing

A

adding a minimal number of green product attributes to promote it as green

financial management vocal word (1 decks)

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