Introduction Flashcards
What is marketing?
Identifying and/or anticipating the needs and wants of consumers and supplies said requirements efficiently and profitably
Price value
Making product/service cheap in order to deliver value (Cheap n good)
Performance value
Provide high quality leading technology to provide value e.g Nike, Adidas
Emotional value
Creating a form of connection that goes beyond needs (Sports teams)
Relational value
Delivering products and services at a high quality
Financial costs
How much money is spent on the product/service
Social costs
The pollution caused in order to manufacture products or services, ethical implications
Temporal costs
The amount of time spent to receive the service or product
Customer orientation
Focusing upon providing customer satisfaction
Integrated effort
Employees taking responsibility to ensure customer satisfaction
Goal achievement
The idea that corporate goals can be achieved through customer satisfaction
Competitor orientation
Having awareness of the activities strengths and weaknesses of competitors in the market
Inter-functional coordination
All departments focused on creating customer value
Marketing mix
Identifies the right balance for the product or service a brand is offering
Sports marketing
A coherent system that helps link sport consumers with sports products - using sports as communication tool
Marketing of sport
Bringing sports products to the end consumer with direct relation to sports, sports businesses, event organizers, leagues, etc.
Marketing through sport
Use sports as a booster to grow their business that is not directly related to sports - using athletes
Marketing concept
Achieving corporate goals through meeting and exceeding customer needs better than competitors in the industry
Market orientation
Implementing the marketing concept throughout the organization
