Concepts that MIGHT be on test Flashcards
cost focus strategy
involves controlling expenses and, in turn, lowering product prices targeted at a NARROW RANGE of market segments
differentiation focus strategy
requires products to have significant points of difference to target one or only a few market segments
differentiation strategy
requires products to have significant points of difference in product offerings, brand image, higher quality, advance technology, or superior service to charge a higher price while targeting a broad array of market segments
diversification analysis
search for growth opportunities from among current and new markets as well as current and new products
cost leadership strategy
focuses on reducing expenses and, in turn, lowers product prices while targeting a BROAD ARRAY of market segments
marketing ROI
the application of modern measurement technologies to understand,, quantify , and optimize marketing spending
synergy analysis
seeks growth opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies
Caveat Vendor
Power tips towards consumer (with things such as legislation or over-supply)
Caveat Emptor
The buyer alone is in charge (of checking the quality of goods before purchase is made)
value-orientated framework
analyzing ethical problems on the basis of the values they infringe - honesty, privacy, etc
stakeholder-orentated framework
analyzing ethical problems on the basis of whom they affect - consumers, competitors, society
process-orientated framework
analyzing ethical problems in terms of the categories used by marketers - research, price, promotion, etc
descriptive marketing
gathering and presenting statements of fact
diagnostic marketing
data/actions of a target market are explained
predictive marketing
answers questions
