Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

HT 5 > Marketing > Flashcards

Marketing Flashcards

1
Q

who defines marketing as “acitivity set of institutions, and process for creating, commumicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.

A

AMA (American Marketing Association)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

defines marketing as activity set of institutions and processes for creating, communicating, delivering, and exhanging offerings that have value for customers, clients, partners and society at large.

A

Marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Father of modern marketing

A

dr. Philip Kotler

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of target market at a profit”

A

Dr. Philip Kotler

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

When was Dr. philip kotler born?

A

1931

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

what are the 3 evolutions of marketing?

A
  1. 1950’s - marketing era
  2. 1990’s - relationship marketing era
  3. First Decade of the 21st century- Digital marketing era
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

understanding the need of your target customers and customizing your marketing activities to address those needs.

A

1950’s -Marketing era

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

delivers value to customers, strengthen relationship to increase customer’s retention.

A

1990’s - Relationship Marketing era

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

innovating data driven approach

A

First decade of 21st century - Digital Marketing Era

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

it is al aboit delivering the customers’ experiences

A

Marketing in the 21st century

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

objective is to create and deliver value of customers, build brand awareness, generate customers loyalty. satisfy customers’ needs profitably.

A

Marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

main goal is to increase awareness, generate interest, and drive customer action. Focuses on creating a buzz and getting target audience to notice and engage.

A

Promotion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

the one who sell product, seek response. Skilled at stimulating demand for their products, responsible for demand management.

A

Marketer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

if two parties are seeking to sell something to each other we call them as

A

MARKETERS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

what are the 3 main component of Marketing Concept

A

1.costumers needs/wants/demands
2. profitability
3. integrated marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

a component who focuses to satisfy customers’ needs wants and demand.

A

Customers needs/wants/demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

a component in which companies aim to generate profits by satisfying customers’ demands better than competition.

A

Profitability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

a component in which marketing is a concerted effort from all personnel within a company.

A

Integrated marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

physical store, physical place where buyers and sellers gathered to buy and sell goods.

A

market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

is the virtual place of exchange between buyer and seller in cyberspace.

A

Internet Market (I-Market)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

what are the 4 key costumer markets?

A
  1. consumer market
  2. business market
  3. global Market
  4. non profit/ non government market
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

consumers buy products for consumption or sharing

A

consumer market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

facilitate sales from one business to another, reuse or resell another company’s product or services

A

Business market

24
Q

goods are traded to people of other countries.

A

Global mArket

25
Q

main buyers are state, local governmental organizations and NGOs.

A
26
Q

8 functions of msrketing

A

1.buying
2. selling
3. transporting
4. storing
5. standardizing and grading
6. financing
7. risk taking
8. securing marketing information

27
Q

8 functions of marketing

A
  1. Buying
  2. selling
  3. storing
  4. transporting
  5. standardizing and grading
  6. financing
  7. risk taking
  8. securing marketing information
28
Q

anticipating future events and conditions and determining the best way to achieve organizational objectives

A

planning

29
Q

implementing planning activities devoted to achieving marketing objectives.

A

marketing planning

30
Q

determining an organization’s primary obejcts, adopting courses of action that will achieve these objectives, provides long term direction for its decision makers.

A

Strategic planning

31
Q

guides the implementation of activities specified in the strategic plan, addresses shorter term actions.

A

tactical planning

32
Q

is a form of marketing in which a destination is promoted to potential visitors in order to increase the number of people that travel to that location

A

Destination marketing

33
Q

selecting and satisfying target consumers through the marketing mix elements

A

marketing strategy

34
Q

helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

A

SWOT analysis

35
Q

what are the 2 leverages

A

strengths and opportunities

36
Q

what are the 2 problems in swot

A

weaknesses and threats

37
Q

2 elements of a marketing strategy

A
  1. The target market
  2. marketing mix variables
38
Q

group of people toward whom the firm direct its marketing efforts and merchandise

A

Target market

39
Q

role is to bring customers or tourist to the destination, product or service that the tourism company wishes to sell.

A

Marketing mix

40
Q

4 parts of marketing mix

A
  1. product
  2. pricing
  3. place or destination
  4. promotion
41
Q

five (5) external dimensions that affect the marketing mix variables

A
  1. political legal
  2. economic
  3. technological
  4. socio-cultural
  5. environmental
42
Q

used to describe the combination of tactics used by a business to achieve its objectives by marketing its product

A

marketing mix

43
Q

who originally developed marketing mix with 6 elements

A

Prof Neil Borden of Harvard

44
Q

what are the 6 elementsnof marketing mix accdg. to prof Neil Borden

A
  1. product
  2. planning
  3. pricing
  4. distribution
  5. promotion
  6. servicing ang market research
45
Q

who reduced into 4 elements?(product, price, place and promotion) and when was it?

A

McCarthy

46
Q

who came up with 7p’s of marketing and when was it?

A

boom and bitner, 1981

47
Q

what are the 3 elements thay boom and bitner came up with

A

physical evidence, people and process

48
Q

7 p’s of marketing

A
  1. product
  2. price
  3. promotion
  4. place
  5. people
  6. process
  7. physical evidence
49
Q

actual item that consumer purchase with packaging

A

product

50
Q

amount of money or goods for which a thing is bought

A

price

51
Q

communication used to inform the target market

A

promotion

52
Q

channel that product is distributed and made conveniently avail for customers

A

place

53
Q

directly and indirectly involved in the business side of the enterprise

A

people

54
Q

how the business runs, how business delivered and how product is packed

A

process

55
Q

it is about the proof of purchase, soc med logo in your building, email packaging, store decor

A

physical evidence

HT 5 (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions