intro Flashcards
ongoing monitoring of a company’s environmental opportunities and competitive positioning within different markets
strategic marketing
core of all corporate activities - company’s success in profitability and positioning
customer
what makes a client like a company, repeat purchase and recommend brand
customer experience
key to achieve company’s goal is to be more efficient than competitors in terms of generating, offering and communicating greater value to public
marketing approach
understanding and satisfying expressed needs of consumers
reactive marketing approach
finding out and satisfying latent needs of consumers
proactive marketing approach
development, design and application of marketing programs, processes and activities that recognize the scope and inter-dependency of their effects - consumers, workers, competitors, social trends etc.
holistic marketing approach
establish strong, durable relationships with customers because, as a result of competition and globalization, customers have become the scarcest element in the system: Imaginarium Toy Club
relational marketing
the coordination of all the marketing activities in order to maximize the combined effects, that is, any marketing activity is planned taking into consideration all the rest
integrated marketing
recruitment, training and motivation of the suitable staff for assisting customers adequately. The marketing activities within the company are as important as the activities undertaken outside the company because there is no point in promising excellent service if the company is not ready to offer it.
internal marketing
marketers to incorporate social and ethical considerations into their practices. Sometimes a balance between divergent criteria is required, for example, the company’s profits, satisfying customer’s wants and public interest
corporate social responsibility marketing (CSR)
implicit in a company’s strategy - compulsory code of standards - benefits society as a whole in medium and long term
ethics
types of marketing
strategic and operational
analysis oriented, detects new opportunities, use of product market variables, dynamic environment, pro-active behavior, long range management, multi functional organization
strategic marketing
action oriented, based on existing opportunities, use of other variables, stable environment, reactive behavior, day-to-day management, marketing function
operational marketing
organization of the exchange of products and services by which goods move from production to consumption
distribution
everyone in company does marketing, customer based structure instead of product, third party providing goods, discovering new strengths, creating brands through multiple tools, internet based, focusing on well defined target, global
new trends in marketing
undertaking exchange relationships between company and market- finding customer needs and providing products that meet needs
value area of marketing
analysis, planning, organizing, implementing, control
marketing management
anything that satisfies a need and is valuable to those who consumes them - can be a good, service or idea, tangible or intangible
products
are tangible goods that are only used once or few times - beer
non durable consumer goods
are tangible goods that can be used repeatedly- clothes, fridge
durable goods
are the products of impulse bought because the consumer does not put much effort into the buying decision
convenience goods
bought frequently- groceries, day to day
staple goods
