Managing the Marketing Process, 7-P's (1) Flashcards
Before starting this marketing process, a marketer must first know the ___ _____
end goal
Before starting this process, a marketer must first know the end goal — a .______________ approach.
begin with the end
What is a “begin with the end in mind” approach?
when a marketers begin the marketing process with the end goal in mind
In 1952, General Electric (GE) released its annual report with this statement that shifted the way companies viewed marketing…. In 1952 your Company’s operating managers were presented with an advanced _________ of marketing…this, in simple terms, would introduce the ________ man at the beginning rather than the end of the production cycle and would ________ marketing into each phase of the business…
concept, marketing, integrate
“In 1952 your Company’s operating managers were presented with an advanced concept of marketing…this, in simple terms, would introduce…
the marketing man at the beginning rather than the end of the production cycle and would integrate marketing into each phase of the business…
What is the selling concept?
Companies could produce the products they wanted and then focus their marketing efforts on selling those items to the customer. (This tendency to focus on selling current products and services to customers is known as the selling concept.)
The selling concept is when companies could produce the products they wanted and then focus their marketing efforts on ______ those items to the customer.
selling
Marketing is about finding out first what the customer ______ and then working to provide that to the customer.
wanted
The marketing concepts is about…
no longer just about selling current products to customers. about finding out first what the customer wanted and then working to provide that to the customer.
The Marketing Concept: A management orientation that focuses on identifying and satisfying consumer _____ to ensure the organization’s long-term profitability.”
needs
What type of orientation is the marketing concept?
a management orientation
The marketing concept is a management orientation that focuses on _______ and ______ consumer needs to ensure the organization’s long-term profitability
identifying, satisfying
The Marketing Concept: A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization’s long-term ________.
profitability
Wht is the core of marketing?
the customer is ideally at the center of what a marketer does. Long-term profitability for a company depends on finding out what the customer needs and then satisfying those needs, thereby providing that value to the customer.
Long-term profitability for a company depends on finding out what the customer ____ and then satisfying those ____, thereby providing that _____ to the customer.
needs, needs, value
State University marketing professor Dr. Tom Brown describes it this way: “Companies survive by solving ______ for customers. They don’t survive by building stuff or providing services. They survive by satisfying customers’_____. They survive by selling ______.”
problems, needs, solutions
what is the goal of marketing?
If the goal of marketing is to satisfy the needs of the customers
What is marketing manaagement?
Marketing Management is the process of setting marketing goals, the planning and execution of activities to meet these goals, and measuring progress toward their achievement.
Marketing Management is the process of _______ marketing goals, the______ and execution of activities to meet these goals, and _______progress toward their achievement.”
setting, planning, measuring
What is the framework to begin discussing the marketing process called?
The MArketing mix or the Ps of Marketing.
the marketing mix is…
he set of the major categories of ingredients — or building blocks of marketing, if you will — that a marketer can adjust to affect the overall marketing strategy of a product. These are the tools that every marketer can use.
the marketing mix is the set of the major categories of ingredients — or building blocks of marketing, if you will — that a marketer can ______ to affect the overall marketing strategy of a product.
adjust
the marketing mix are the ______ ______ of marketing
building blocks
What are the 4 P’s of marekting?
Product
Price
Place
Promotion
What is a product?
A product can be a good, service, or idea to satisfy a customer’s needs.
What does the product cateogry include?
This category of the marketing mix includes all of the characteristics of the product itself. A marketing manager can adjust the characteristics of the product to provide value to the customer.
What are some adjustments taht can be made within the product category?
Size of product
Product quality
Packaging
Color
Taste
Multi-packs
Trial size or family size
Features of the service
What is price?
price is the amount that is being charged for the good, service, or idea
How can a marketer adjust price?
A marketer can adjust the price to appeal to the customer and provide value. This doesn’t mean just lowering the price. There are many different ways that a marketer can change elements related to price beyond just making it cheaper.
What are some pricing strategies?
Pricing frameworks such as cost-based, value-based, or competitor-based
Luxury pricing
Buy-one-get-one
Frequent customer discounts
Odd pricing (.99)
Bundle pricing
Volume discounts
What is the promotion element?
The promotion element of the marketing mix represents the means of communicating with the customer. It is any communication from a marketer to inform and persuade the customer of the product value.
The promotion element is any ______ from a marketer to inform and persuade the customer of the product value.
communication
The promotion element is any communication from a marketer to…
nform and persuade the customer of the product value.
By adjusting the promotion element of the marketing mix, a marketer can strategically promote in a way that both ______ the desired customer and communicates the product _____.
reaches, value
Wht are some ways to use the element of promotion to better communicate with, and therefore market to, the customer?
Television advertisements
Public relations
Social media advertisements
Direct mailers
Launch team buzz marketing
Sponsorships
Billboards
What is place?
is the means of getting the good, service, or idea to the customer. It is essentially where the customer can find the product and includes how the product is being distributed.
Place is the _____ of getting the good, service, or idea to the customer.
means
Place is essentially where the customer can ______ the product and includes how the product is being _______.
find, distributed
What are some examples of place?
Store shelf
Endcap at retail location
The company’s own website
A third-party website such as Amazon
A kiosk at a local mall
Match each definition with it’s marketing mix element:
- represents the means of communicating with the customer. It is any communication from a marketer to inform and persuade the customer of the product value.
- is the means of getting the good, service, or idea to the customer. It is essentially where the customer can find the product and includes how the product is being distributed.
- can be a good, service, or idea to satisfy a customer’s needs
- the amount that is being charged for the good, service, or idea.
- promotion
- place
- product
- price
What are the additional 3 P’s?
Process
People
Physical evidence
What are the 7 P’s of the marketing mix?
- Product
- Price
- Place
- Promotions
- Process
- People
- Physical Evidence
What is process?
pocess is the flow of activities involved in providing goods, services, and ideas to the customer. Goods don’t just magically appear on the store shelves and then jump into the customer’s shopping cart.
Process is the flow of ______ involved in providing goods, services, and ideas to the customer..
activities
By refining the element of process, marketers can help establish…
consistent and efficient service, both for services as the product and for services associated with physical goods being sold.
Where is process especially crucial?
the service industry
By refining the element of process, marketers can establish ______ and _______ service, both for services as the product and for services associated with physical goods being sold.
consistent, efficient
What are some examples of process?
service blueprint to outline the process
Standards set for points in the process
Supply chain
Distribution channels
Marketing research
Content creation
Layout
What is people?
encompasses the human actors who provide goods, services, and ideas to the customer
The marketing exchange process simply doesn’t occur without _____ even though technology is playing a larger role in customer self-service.
people
What are some examples of people?
Customer-facing employees
Customer service representatives
Salespeople
What is physical evidence?
Physical evidence includes the tangible elements in the place that the good or service is sold.
Physical evidence encompasses…
all of the things one sees, hears, and smells while purchasing the product.
Physical evidence encompasses all of the things one ______, _____, and ______ while purchasing the product.
hears, sees, smells
The elements of the physical ______ affect what the consumer thinks about the product, whether it be a physical product or a purchased service.
landscape
What are some examples of physical evidence?
Signage
Uniforms
Lighting
Decor
Color scheme
Certain elements of the layout
Music
- the flow of activities involved in providing goods, services, and ideas to the customer.
- is the means of getting the good, service, or idea to the customer.
- the amount that is being charged for the good, service, or idea.
- encompasses the human actors who provide goods, services, and ideas to the customer
- represents the means of communicating with the customer.
- can be a good, service, or idea to satisfy a customer’s needs
- includes the tangible elements in the place that the good or service is sold.
- process
- place
- price
- people
- promotion
- product
- Physical evidence
Match examples with P-element
- Salespeople
- Direct mailers
- Buy-one-get-one
- Marketing research
- people
- promotion
- price
- process
Match examples with P-element:
- Packaging
- Taste
- Content creation
- Certain elements of the layout
- Supply chain
- product
- product
- process
- physical evidence
- distribution
Match the example with the P-element:
- Store shelf
- Volume discounts
- Salespeople
- vendor
- Music
- signage
- place
- price
- people
- place
- physical evidence
- physical evidence
Match the example with the P-element:
- Trial size or family size
- Distribution channels
- Decor
- Color scheme
- Social media advertisements
- Store shelf
- A third-party website such as Amazon
- a kiosk at a local mall
- product
- process
- physical evidence
- physical evidence
- promotions
- place
- place/promotions
- place
The _______ is at the center of the 7-P’s
customer
the pieces of the 7 Ps should work together to bring value to the customer and provide what the customer needs.
the pieces of the 7 Ps should work together to bring _____ to the customer and provide what the customer needs.
value
The pieces are ___________.
interdependent
Although all of the pieces of the 7 Ps function separately, they should all align and work together ________.
cohesively
What is differntiation?
simply means what makes a product unique and makes it stand out to customers
Differentiation simply means what makes a product ______ and makes it _____ _____ to customers.
unique, stand out
A marketer can focus on different pieces of the 7 Ps for different products to make the products…
stand out in the marketplace
What are some examples of a marketer creating a competitve advantage?
Some products are unique because of their cool packaging, and some may stand out because of the place in which they are offered for sale or the outstanding customer service offered. And while not all pieces will be equally important for each product, the way a marketer uses the pieces can create a competitive advantage.
Product differentiation can give a company ______ _______.
competitive advantage
