EXAM2 Flashcards
management tool that focuses on identifying the needs, wants, and demands of customers and developing products to meet those needs
marketing
a view of the marketplace based on the idea of growing, manufacturing, or creating a product for the marketplace
production perspective
the method of delivering a product to the marketplace
distribution
a view of the marketplace that focuses on the product, its value, desirable features, or performance
product perspective
a view of the marketplace based on getting customers to purchase the product
selling perspective
the methods used to attract consumers to a product to convince them to purchase it
promotion
a view of the marketplace that considers productions, sales, products, and promotion in light of the consumers’ needs, wants, and demands
marketing persepective
Four P’s of marketing
product, promotion, price, place,
things required for a state of well being
needs
socially accepted ways to meet needs
wants
wants that are supported by the resources, such as money, that allow the wants to be fullfilled
demands
a view o the marketplace that balances the needs, wants, and demands of consumers with those of the organization and those of the society
social marketing perspective
the marketing of a product to the population at large without discriminating among population subgroups
mass marketing
the marketing of a product to a unique subgroup within the population rather than to the population at large
target marketing
the identification and measurement of those characteristics that are present in a population subgroup that is likely to purchase a specific product
market segmentation
presenting a product to the target market, emphasizing the characteristics of the product that are most important to those consumers: equating the product with its benefits
market positioning
having too much data, which may impede management processes and interfere with decision making
information overload
info gathered for the sole purpose of the party who requires the info
primary data
info that has already been compiled by another source
secondary data
a combination of product, price, promotion, and place as they contribute to the marketing of a product
marketing mix
products that get used up quickly and that have a life expectancy usually measured in days or months
nondurable goods
products that can oftentimes be used and reused repeatedly and that have a life expectancy measured in years
durable goods
a characteristic of services in which a product cannot be separated from its provider
inseparability
a characteristic of services that indicates that services are not uniform, due to factors such as the provider of the service, the consumer, and the circumstances under which the service takes place.
variability
the determination of the type and number of employees that are needed to carry out the work of an organization
staffing
a list of requirements for a specific job which can be evaluated objectively and that apply to all candidates for that job.
job specification
a listing of the general duties related to a job or job classification
job description
a detailed description of the daily duties to be carried out in a specific job, often including time frames for each job activity
job analysis
the person who currently hold the position
incumbent
a staffing strategy that anticipates what jobs will open due to retirements and promotions, and prepares other individuals to be eligible to move into these positions
succession planning