Contemporary Marketing Flashcards
is the activity, set of instituions and process
for creating, communicating, delivering and exchanging
offerings that have value for customers, clients,
partners and society”
Marketing
The power of a good or service - to satisfy the wants of
consumers
Utility
Four Types of Utility
- Possession
- Form
- Time
- Place
conversion of raw materials into
finished goods and services
Form
-Availability of goods and services when consumers want them
Time
Availability of goods and services at convenient locations
Place
Ability to transfer title to products from marketer to buyer
Ownership (Possession)
5 eras of Marketing
- Production
- Sales
- Marketing
- Relationship
- Social
A good product will sell itself
Production Era
Creative advertising and selling will overcome consumers resistance and persuade them to buy
Sales Era
managers pay close attention to the
markets for their goods and services.
Marketing Era
customer
orientation by focusing on establishing and maintaining
relationships with both customers and suppliers.
customer
orientation by focusing on establishing and maintaining
relationships with both customers and suppliers.
Relationship Era
era,companies now routinely use the Web and
social networking sites to connect to consumers as a way to market goods
and services.
Social Media Era
is management’s failure to
recognize the scope of its business.
Marketing Myopia
Who coined the term marketing myopia?
Theodore Levitt
their goal is to generate
revenues above and beyond their costs to make money for all
stakeholders involved, including employees, shareholders, and the
organization itself.
For profit organization
to generate as much revenue as possible
to support their causes, whether it is feeding children, preserving
wilderness areas, or helping single mothers find work.
Not-for profit organization
Categories of Non Traditional Marketing
- Person Marketing
- Place Marketing
- Cause Marketing
- Events Marketing
- Organization Marketing
Marketing efforts designed to cultivate the attention and preference of a target market toward a person
Person Marketing
Marketing efforts designed to attract visitors to a particular area; improve consumer images of a city, state or nations; and/or attract new businesses
Place Marketing
Identification and marketing of a social issue, cause or idea to selected target markets
Cause Marketing
Marketing of sporting, cultural and charitable activities to selected target markets
Event Marketing
Marketing efforts of mutual - benefit organizations - service organizations, and government organizations that seek to influence others to accept their goals, receive their services, or contribute to them in some way
Organization Marketing
refers to buyer–seller communications
in which the customer controls the amount and type of
information received from a marketer.
Interactive Marketing
is the use of online social media as a communications
channel for marketing messages.
Social Marketing
